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Top Crypto Movers 2/3/18: Dentacoin (+40%), Nano (-7%)

Top Crypto Movers 2/3/18: Dentacoin (+40%), Nano (-7%)

Friday’s bounce has continued through Saturday. Did we put in a bottom Friday morning? Maybe. We’ll see if the momentum continues. I bet we chop sideways +/- 10% over the next 3-4 days but who knows.

Dentacoin

Dentacoin promises dental records on the blockchain. I think it’s pretty useless. This 40% bounce is under context of a 90% correction from its highs. To me this is a dead cat bounce from a useless token.

Nano

Nano’s price soared 41% yesterday as Binance listed the asset, and today it is coming back down from some of the exuberance. Nano’s an interesting project as it promises free, instant, and infinitely scalable transactions. It does this all without miners traditionally required in the cryptocurrency space. With Nano, each user has their own blockchain within the main Nano database. When a transaction is initiated, two blocks are created – one for the sender’s chain and one for the receiver’s chain. When a user signs on to receive a transaction, their wallet will automatically sign the transaction with its private key in a process Nano calls Pocketing.

Nano also scores points for being highly decentralized. While it was pre-mined, there is no central authority. Its developers and roadmap is hyper focused on being the best free, instant, and minerless cryptocurrency – so you won’t see smart contract or privatizing functionality any time soon. IOTA is similar to Nano in a lot of ways – but does aspire to support these additional functionalities.