Actually no
It's nowhere near enough.
Seriously, the coin is technically better than litecoin and if the market was information efficient, should've already replaced litecoin in terms of marketcap. Litecoin's key advantages over Btc were faster transaction times and decentralised mining.
Drk does the same thing plus provides transaction privacy. IMHO (and I know this is controversial and some might hate me for saying this) I think the name is holding back the Drk. If it was called PrivacyCoin, I think the optics would have been much better. More of the media would've got behind it.
Markets don't work like that.
No coin in crypto has a high value because of technical superiority. If that were so, you'd see a whole different league table than what we see today.
The properties that support most of DRK's valuation at the moment are:
- it's considered an "original" by many in this market sector. That always appears to sustain the asset for a long time (see Peercoin for example)
- it just moved into a new development phase recently (i.e. Darksend going live) so there's been a flurry of news
However, in crypto, the market prices things in way in advance of them actually happening. So over the last few weeks the market's been anticipating Darksend, anticipating masternode payments, anticipating the new exchange etc. Now there's nothing left to anticipate so it's going to take profits for a while in a kind of orgasmic gush which will flood people's wallets with actual BTC that was only theoretical up till now.
Don't worry. I agree with you that DRK ultimately has a good chance of replacing Litecoin as the number 2 crypto and so I'm still long (just not as long as I was before). But it isn't going to get there in a straight line that's all.