AUS
NZ
UK
CA
USA
IND
Highlights
- Radicle network claims to be a “decentralized” alternative to GitHub with governance in the hands of users
- RAD token has gained of late, however, there is no guarantee how long this rally might last
- BTC and ETH, on the other hand, have lost lately, and so have most other top crypto assets
As of writing, the wider crypto verse had underperformed in the past 24 hours. Though the hacking of Ronin Network, which supports the popular game Axie Infinity, has dominated headlines lately, even unrelated assets including Bitcoin and Ether seem to have come under pressure.
WAVES and a few other cryptos in the top 100 list by market cap, however, could manage some gains over the last 24 hours. That said, one asset, RAD, which although isn’t in the top 100, also managed to appreciate of late. The crypto is linked to the Radicle project. Let’s know more about Radicle.
What is Radicle’s peer-to-peer network?
The project seems to be focusing primarily on “code collaboration” services. Radicle claims developers can use the network to share data without having to avail the services of centralized servers. Radicle is open-source, and it relies on a peer-to-peer model architecture. Interestingly, it appears to be projecting itself as a “decentralized” competitor to GitHub.
Users can host their code on the network using what Radicle calls “CLI”. The project uses the Ethereum network in multiple capacities including a registry and a native token built on it. Radicle states it would be free to use, with governance distributed among users and not controlled by a central entity. It claims to also provide support for non-fungible tokens (NFTs).
Also read: What is IOST blockchain and what is this Ethereum competitor's crypto?
Radicle crypto (RAD)
Radicle uses RAD token for governance purposes. The native token furthers voting by users on matters related to network’s governance. As of writing, over 30 million RAD tokens were in supply, while the maximum supply of RAD can be a little over 99 million tokens.
Also read: VeThor (VTHO) price soars: Key points to know about VeChainThor’s token
RAD crypto price
With a market cap of over US$200 million, RAD token does not rank among large-cap crypto assets. It was trading at nearly US$8 as of writing after having gained over the past 24 hours, and hence, its price performance was better than Bitcoin and Ether.
That said, the price of RAD token was over US$10 on January 1, 2022, which fell to as low as nearly US$4 by the end of February. Similar to Bitcoin and Ether, the token has shown volatility, which makes RAD crypto price prediction difficult.
Data provided by CoinMarketCap.com
Bottom line
All crypto assets do not gain or lose at the same time. CoinMarketCap tracks over 18,000 assets. RAD token may have gained at a time when biggies like BTC and ETH had lost value, but for how long does this rally last is a wait-and-watch game right now. Radicle claims it is a decentralized code collaboration project, with the native RAD token furthering distributed governance. It has yet to enter the top league of crypto assets.
Also read: Dollarama (DOL), WN, FM and WPM: 4 TSX dividend stocks for April
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
