DragonChain (DRGN) Spikes on Bittrex Market Debut
DRGN volumes picked up on the new listing, but the project remains pressured by the bear market.
DragonChain (DRGN) lined up among the biggest winners on Wednesday after its Bittrex listing triggered a spike in prices, pushing the value of the asset from $0.09 to $0.14 within a day.
https://twitter.com/BittrexIntl/status/1082685103283859457
The daily gain of more than 45% may have been triggered by bot activity, so it may be erased in the coming days. Seen as one of the promising platforms, DragonChain offers a cloud-based infrastructure and the possibility of moving between private, permissioned blockchains and some of the leading public blockchains.
The addition to Bittrex will alter the trading profile of DRGN, which until recently depended heavily on KuCoin for most of its volumes. On Bittrex, the sole DRGN/BTC pair means that the price of the asset is still tied to the position of the leading digital coin.
At its peak, DRGN traded above $4. Talks have been held about a potential Binance listing:
https://twitter.com/krykx/status/1082551652803067905
The DRGN token is not seen as indispensable in the project’s ecosystem although it was used to raise funds in the initial coin offering and is currently held in36,091 addresses. DragonChain is entirely based on Amazon Web Services, meaning that the startup does not plan to launch its own mainnet and invite miners or other types of block producers.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.