While we recently reported on Darkcoin’s attaining the honored position of the fourth biggest currency, solid new features added to an already strong framework have allowed Nextcoin to storm into the top three.
As forexminute reports, the release of Nextcoin’s new asset exchange sent its value soaring, with its minimum market cap reaching US$39million on May 29 following release day. And it kept on going, with reported sell-offs of Darkcoin for other altcoins, to reach a cap yesterday of over US$60million.
The coin is already known for its less resource-intensive mining, a major factor in drawing in its dedicated client base since its inception. Add to this 100% proof-of-stake and it is clear why NXT is giving the likes of Dogecoin, which still licking its wounds after a disastrous previous month, a run for their money.
Meanwhile, Dogecoin is languishing. Even its much-beloved meme-fuelled persona is under threat, with the launch of another personality-themed coin on Bitocintalk last week entitled “iaurabcoin,” based on Latin American Twitter personality Laura B.
Attempts to enhance its publicity stance by entering a McDonalds UK burger design competition also backfired, with its contest-leading entry being withdrawn by McDonalds for what Reddit user u/BosDoge describes as having “clearly endorsed actual products.”
These developments mean that Nextcoin’s market cap is now more than twice that of DOGE, which is trailing at just over US$29million. Whether the hierarchy will shift again is not a matter of discussion, but there is renewed doubt as to whether it will include populist alternatives to hard functionality.