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

Be the First to Comment Read

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

Follow us on Google News:
 Will Constellation (DAG) crypto be able to reverse its bearish phase?
Image source: © Leowolfert | Megapixl

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.

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 instruments 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.

Disclaimer

Featured Articles