- DREP’s 24-hour trading volume soared as much as 791 per cent on Monday, July 26.
- The crypto project has a limited supply of 100 million, with a circulation of 40 per cent of DREP coins.
- DREP could rise to US$ 1 by the first quarter of 2022.
DREP’s 24-hour trading volume soared as much as 791 per cent on Monday, July 26, although its token price remained two per cent down.
DREP, a blockchain-based smart pipeline platform, is known to create toolboxes and built-in crypto wallets. The project reduced its maximum token supply from 10 billion to 100 million in April 2021.
It presently has 39.9 million tokens trading on crypto exchanges, which is nearly 40 per cent of its capped supply.
DREP’s use case
DREP is a utility cryptocurrency token on the Drep [new] platform, which has the segments such as DREP ID, DREP SDK, and DREP Chain. Decentralized application (dApps) developers use its platform to integrate multi-version on any Dapp.
Drep is also said to optimize crypto trading platforms with one-click or quick buy option.
Additionally, the blockchain technology-based platform reportedly enhances data processing capacity like a layer 2.0 support to any smart contract project. The project team also claims to offer robust scalability without any gas fee.
DREP is said to help decentralized customers boost their operations by providing application programming interfaces (APIs) and Plug-in solutions.
The smart project works on a Schnorr Multi-Signature Algorithm model that bolsters network processes and curtails transmission expenses.
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DREP for DApps security
The Drep team has developed decentralized identification that seeks to ensure better security for privacy and data connectivity. It uses Hash Messaging and the homomorphic encryption concept to create dual-layer protection through master ID and multiple sub-codes.
It is also said to enable decentralized and centralized platform users to secure their data and digital assets and access the same from one interface.
What is DREP token’s price prediction?
DREP rocketed to its all-time high of US$ 3.38 apiece in mid-April, led by the crypto rally. It is currently marching at US$ 0.6063 and holds the 593rd spot among 11,063 cryptos with a market cap of $24 million, according to CoinMarketCap.
The token price varies based on its demand across DApp developers. Hence, DREP has not been responding to the current crypto market sentiment. The overall crypto market is up by double-digit. In contrast, the multi-chain solution provider’s native token is moving in red.
However, DREP may grow in the long-term period as DApps get more traction among tech companies. It could rebound to US$ 1 piece by the first quarter of 2022.
How to buy DREP crypto?
DREP token is available for trade on crypto exchanges like Binance (92 per cent volume), Hotbit, Flybit, Gate.io, and Bitmax. Crypto investors can exchange DREP with Tether (USDT) and Bitcoin (BTC).