- DCR/BNB and DCR/BTC trading pairs available to trade from October 24.
- No enlistment fee paid by Decred.
- Recently launched their self-governing system called Politeia.
Getting listed by a major cryptocurrency exchange is nothing less than a pump of fresh blood for every budding DLT-based project. And the same was observed in the price behavior of Decred (DCR), as the governance focused altcoin experienced a sudden spike in its price after getting listed by the crypto exchange giant, Binance.
Decred Jumps up Amid a Sluggish Market
While the cryptocurrency market hasn’t witnessed much of its infamous volatile swings lately, the general sentiment surrounding the market has been predominantly bearish for a few months now.
Crypto enthusiasts will know that the market has been relatively “stable” in recent times, which might be an indication of the slow and steady maturity of the crypto-space.
Like all other cryptocurrency initiatives, Decred’s price has had a hard time breaking through a fixed price range. After having reached its ATH at $123, DCR’s price plummeted down to mid 30s and early 40s, and has been trading in this range ever since.
However, getting listed by Binance has put the community-driven DLT project in the greens – as the price of DCR token spiked up by as much as 24 percent to $48.07.
— Binance (@binance) October 23, 2018
At press time, Decred has an impressive market capitalization of $416,116,168 USD with the 24 hour volume of $11,033,386 USD.
Per the announcement, Binance will commence trading for DCR/BNB and DCR/BTC trading pairs on October 24, at 4:00 AM (UTC).
It’s worth pointing out that Decred’s listing is one of the first major listings by Binance, after it made official its plans to donate enlistment fees to the charity arm – Blockchain Charity Foundation.
However, Decred paid no enlistment fee to Binance in view of their recent decision to relinquish the control of the 570,000 DCR development fund (approx. $23 million), to their blockchain community.
Notably, the Decred community launched its self-governance system called Politeia last week.
Politeia aims to give the members of the DCR ecosystem ultimate control over the decision-making processes, funds utilization and the operations.
What exactly is Decred?
From a bird eye view, Decred (DCR) is an open-source, fully decentralized, autonomous payments cryptocurrency, just like bitcoin (BTC), litecoin (LTC) and others.
However, the hybridized Proof-of-Work (POW), Proof-of-Stake (PoS) consensus algorithm, coupled with its excellent autonomous governance, makes Decred stand out from all other payments virtual currencies.
More can be read about Decred here.