Will Constellation (DAG) crypto be able to reverse its bearish phase?

Highlights

• Launched in 2017, the Constellation crypto is primarily a protocol that looks to achieve consensus that is capable of infinite scalability.
• With easy-to-use APIs, the DAG crypto makes crypto mass adoption a seamless process and helps enterprises in building decentralized solutions and allows crypto token transactions.
• Ranked 267 as per its market cap, the DAG crypto was trading at US$0.125971 with a trading volume of US$598,589 over a day.

The last few weeks have been tough for Constellation (DAG) crypto. Ever since it achieved its all-time high on 25 August, the token has seen its share of up and down. It showed signs of a rally in February earlier this year, before caving back to the red zone. The downward momentum slide seems to have continued even in March with the DAG crypto not been able to climb out of it.

DAG crypto’s poor run can also be related to the geopolitical crisis with the Russia-Ukraine crisis, which seems to have hit both the stock markets and crypto market alike with both witnessing high volatility ratios. The market participants, for now, seem to have adopted a watchful approach and see how the crisis unfolds before deciding to make their presence felt.

DAG crypto on 7 March is down by 1% with the volume going down too by over 40%.

What is DAG crypto?

Launched in 2017, the Constellation crypto is primarily a protocol that looks to achieve consensus that is capable of infinite scalability. The Constellation ecosystem allows the data sources to be distributed on a DLT, thereby enabling it to secure data in a unique manner.

With easy-to-use APIs, the DAG crypto makes crypto mass adoption a seamless process and helps enterprises in building a decentralized solution and allows crypto token transactions. Operating on Hypergraph, one of the robust decentralized value-based networks, the DAG crypto was co-founded by Benjamin Jorgensen, Benjamin Diggles, Mathias Goldmann, and Wyatt Meldman-Floch.

Operating on the unique Proof-of-Meme (PoM) consensus, the DAG crypto targets to resolve the issues related to scalability in the blockchain space. DAG’s smart contracts operate on the Java Virtual Machine and in many ways, it is similar to Ethereum’s smart contracts.

Why Is Constellation (DAG) Crypto Is In The Bearish Phase?

How is DAG faring?

Ranked 267 as per its market cap, the DAG crypto was trading at US $0.125971 with a trading volume of US$598,589 over a day. The DAG crypto was up by 1.02% with a live market cap of US $158,858,882 and 1,266,911,931 DAG coins.

The DAG crypto is available leading crypto exchanges, such as KuCoin, HitBTC, Hotbit, Liquid, and LCX Exchange. The project would want to soon reverse the bearish trends and get back to its green days.

But for the market participants, it is important to look at the global situation before making any decisions.

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