DOT rallys to 30 satoshis, up 67% in 2 weeksDotcoin (DOT) has undergone a major rally, experiencing a 67% price increase in 2 weeks. DOT was trading near 18 satoshis (1 satoshi = 0.00000001 Bitcoin) and had a market cap of 44 Bitcoins ($11,000) on October 8. Today DOT is at 30 satoshis with a market cap of 73 Bitcoins ($22,000). Most of this price increase occurred today, with DOT rallying from 25 satoshis to 30 satoshis within 6 hours. There was alot of DOT available at 18-24 satoshis, but once all that DOT was bought up there was very little DOT left below 30 satoshis. Now the market is solidly trading at 29-30 satoshis, near record high levels for DOT.
https://www.cryptopia.co.nz/Exchange?market=DOT_BTCCryptopia is quickly becoming a leading cryptocurrency hub and is attracting more miners and traders each day. As more people join Cryptopia demand for DOT will increase, since DOT is needed to vote for which cryptocurrencies get added to the exchange/pools and to invest in Cryptopia via shares. Millions of DOT were purchased every day for these purposes before this price upswing even began. The demand for DOT is increasing everyday as more people join Cryptopia, but the amount of DOT available increases slowly (~500,000 DOT/day from mining) so the price is forced to rise.
There are hundreds of cryptocurrencies with market caps in excess of $100,000, many of which are inferior to DOT. DOT is a well built cryptocurrency which has a solid community base and intrinsic value since it is the only currency accepted by Cryptopia. Now that DOT has a market cap of $22,000 it shouldn’t be long until it rallies all the way to $100,000, which would result in a price of 100-150 satoshis. This could happen very rapidly as the news of DOT’s rally spreads across the internet. This situation is reminiscent of the early days of Dogecoin, if not more promising since DOT is tied to Crytopia, which is on track to become a major international cryptocurrency exchange. No other cryptocurrency exchange has integrated mining, trading, and chat like Cryptopia has, it is simply on a different level than Bittrex, Poloniex, and Cryptsy which have been the main exchanges up to this point. Buying DOT is akin to investing in Cryptopia, and Cryptopia has a very bright future.
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http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/dot-rallys-to-30-satoshis-up-67-in-2-weeks/