Decred Achieves A 200% Increase In Just 1 Day

Overall, the crypto market seems to be slowing down, with most assets trading in the red zone since the beginning of August. However, Decred (DCR) is one of the standout assets recording gains significantly regardless of market price fluctuations.

Decred Achieves A 200% Increase In Just 1 Day 4

By press time, the cryptocurrency was trading at $48. In the early trading hours of August 6, the asset peaked at $60, recording gains of 200%, according to CoinCu data.

DCR daily chart. Source: CoinCu

The cryptocurrency is seeing a large price correction in 2022 due to the broader market sell-off trend. The asset that combines Proof-of-Work (PoW) and Proof-of-Stake (PoS) is attempting to reclaim its 2021 highs after reaching a new high of $246.

The recent growth in Decred’s value corresponds with more excellent network development, which aims to drive the blockchain toward broad use.

Decred Achieves A 200% Increase In Just 1 Day 5

In this scenario, the Decred lead developer presented an updated plan to enhance the website and a message stating that it is already prepared and awaiting payment and deployment clearance. In general, the website overhaul will make user transactions easier.

“The messaging has been simplified to focus on the most critical aspects of the project, describing them in a way that is more tangible to the average person. Parts of the website viewed as superfluous or messy have been removed, simplifying the site overall. The site is ready to be deployed and replace the existing site if the proposal is approved,” the update read.

The hybrid mechanism that has powered the Decred project for the previous six years has helped it stand out. Users are guaranteed that no one company or individual may control the flow of transactions or make changes without the community’s permission under the protocol.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.