What is Constellation (DAG) crypto and why is it up on Wednesday?

July 06, 2022 02:33 AM PDT | By Versha Jain

What Is Constellation (DAG)?

Constellation (DAG) is a protocol. Its directed acyclic graph architecture provides infinite scalability. DAG, launched in 2017, aims to solve problems of scalability and centralization in blockchain and is designed to process big data and connect external datasets through APIs.

Co-founded by Benjamin Jorgensen, Benjamin Diggles, Mathias Goldmann and Wyatt Meldman-Floch, the protocol offers scalability by increasing the network’s bandwidth directly proportional to the number of users and current needs.

Jorgensen serves as the CEO, Diggles as the chief revenue officer, while Mathias Goldmann and Wyatt Meldman-Floch serve as the COO and CTO, respectively.

Data Source: Coinmarketcap.com

DAG Token:

With a circulating supply of 1.27 billion, DAG’s current market capitalization is US$87.9 million. Its total supply stands at 3.7 billion. Its trading volume surged 8.90% to US$518.5 thousand in the last 24 hours to Wednesday morning. KuCoin, Gate.io, Liquid, and LCX Exchange are some crypto exchanges that offer the DAG token for trading.

Bottom line:

DAG plummeted 65.46% year-to-date and 84.99% on Wednesday from its all-time high (ATH) of US$0.4624 in October 2021. The crypto market is extremely volatile and sans regulations. The recent bankruptcy and withdrawal freeze cases show the market’s weaknesses. Hence, investors must be careful while investing their money in cryptocurrency.

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