Why is District0x (DNT) crypto is grabbing eyeballs?

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Why is District0x (DNT) crypto is grabbing eyeballs?

 Why is District0x (DNT) crypto is grabbing eyeballs?
Image source: © Alexanderushkevich | Megapixl.com

Highlights

  • The Ethereum blockchain-powered district0x (DNT) crypto is a network of decentralized markets and communities.
  • The district0x crypto is built mainly to resolve the issues related to the decentralised marketplaces by offering tools that help them to align incentives in place.
  • The DNT crypto on Friday was trading at US$0.042184 with a trading volume of US$3,75,46,531, according to CoinMarketCap.

The Ethereum blockchain-powered district0x (DNT) crypto is a network of decentralised markets and communities. The users of the DNT token create districts on the platform and launch them on the district0x protocol for free.

The district0x crypto is built mainly to resolve the issues related to the decentralised marketplaces by offering tools that help them to align incentives in place. District0x at its core is powered by the custom d0xINFRA framework, which allows the smart contracts, where the users can build the districts.

Related read: What is Bank of England’s (BoE) prophecy on crypto survivors?

With DNT as its native token, the district0x crypto’s seamless interface has already seen several successful districts being built of varying forms. The DNT token on 23 June was witnessing a rally of over 9.47% and a volume gain of 1238% at 1:05 PM (GMT +1), according to CoinMarketCap. 

Why is district0x (DNT) crypto rallying? 

While the exact reason for district0x (DNT) rally is still unknown, many feel it could be because of the Web3 project which it is building. Tweeting about it, the DNT crypto hinted that it is taking the SYBIL resistance seriously and for this, it will be allowing 1 Human 1 Vote DAOs.

The token has, in fact, been on a purple patch for the past week despite the overall bearish crypto market sentiments. The token has registered over 23% gains over the past seven days and today’s rally could well be a continuation of it.

Related read: Why Ethereum's Gray Glacier network is vital for its protocol

The volume flow is with the district0x crypto with the Volume Oscillator indicating a 19.18% upswing during the intraday trading session. This suggests that the volumes may grow if the trend continues.

Image credit: Trading View

The price seems to be agreeing with the volume gains as it was showing a  surge despite it being at -13.44 during the intraday trading.

How is DNT crypto’s price faring?

The DNT crypto on Friday was trading at US$0.042184 with a trading volume of US$3,75,46,531, according to CoinMarketCap. The 524-ranked token enjoyed a live market cap of US$2,53,10,303 and 60,00,00,000 DNT coins in circulation. 

While the investors would be buoyed by the momentum and recent gains of the token, they should keep an eye on the market, which is down of late. Therefore, before entering the market, it is necessary to do proper research to ensure that investors know where are they heading to.

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