Many individuals in the online community believe that Reddcoin (RDD) is the cryptocurrency to watch this year. Read on to know five compelling reasons why.
To predict correctly the future of an asset is a hard task even for financial experts. The duty becomes more difficult when it comes to cryptocurrencies, blockchain-based digital tokens with highly volatile prices.
Nevertheless, signs still appear here and there which many experts use as guides in distinguishing which crypto is worth investing in for the long term. One of the promising digital coins that took the attention of vigilant crypto enthusiasts is Reddcoin (RDD).
Here are five reasons why Reddcoin is the crypto to watch this 2019 and why the crypto community should keep an eye on this token:
#1 Content Creation Market Continues to Grow
As a token that connects users and token holders to their favorite content creators, Reddcoin relies in part on social media networks to flourish. And based on recent data, the online sector will grow more this 2019.
A Pew Research Center survey of 2018 detailed an increasing number of American adults using a number of social media sites from 2012 to 2018. Moreover, numbers from Statista showed an increasing viewership of vertical videos by content creators on mobile from 2013 up to early 2018.
Should trends of growing social media use continue, then the future looks bright for Reddcoin.
#2 Active Community Shows Online Presence
Reddcoin does not only have a promising use case as a social media tipping coin. The project also has a loud and interactive online community that spreads the news to both RDD holders and the uninitiated alike.
Meanwhile, a simple search of Reddcoin on Twitter will show a number of related accounts catering to audiences of different kinds—from newsreaders, Korean-speaking token holders, and all other ReddHeads. In addition, individuals are using Reddcoin-related hashtags discussing their trading methods, the future of the coin, and more topics.
#3 Market Cap Remains Stable
While not increasing dramatically, Reddcoin’s market capitalization has closely followed the movement of the global crypto market cap.
Graphs from one monitoring website showed that the Reddcoin market cap dropped around only nine percent, from US$38.67 million on December 21 to US$35.19 million 30 days later. Meanwhile, the market fell by almost 10 percent from US$132.66 billion to US$119.53 billion on January 21.
There is nothing spectacular with that movement, but many online crypto analysts agree that the Reddcoin graph not straying away from the global trend is a good reason for holders to breathe a sigh of relief—especially since the following two developments could push interest on RDD to new highs.
#4 Reddcoin Applies For Listing on Binance
Earlier, the Reddcoin community was greeted with a pleasant surprise as the crypto’s Twitter account revealed that the team has applied for RDD’s listing on Binance.
Here's a little gift for the new year!
Please note, "Community members must be aware that this image does not imply any response, listing progress, or endorsement [from @binance or @cz_binance ] whatsoever."#Reddcoin #ReddID #RDD #PaintTheWorldRedd pic.twitter.com/GM3PurbSRd
— Reddcoin (@reddcoin) January 17, 2019
Appearing in a trading pair on one of the biggest crypto trading platforms in the world will not only boost Reddcoin’s popularity, but it will also guarantee the integrity of the token—given that Binance examines a crypto applicant carefully before its listing.
Moreover, it is almost sure that the price of RDD will increase should Binance list this token. The phenomenon of cryptos rising in value shortly as the exchange announces their listing has been well documented over the past months, which many in the community dubbed as the Binance Effect.
#5 ReddID Full Release Approaches
Reddcoin has a realistic use-case in which the project can be used to attract investors and adopters into using the crypto token. And while the app has been released to the public, the full version is slated for release only this January 26, which could cause noise in the global crypto community.
#ReddID – Simple, fast, easy!
— Reddcoin (@reddcoin) January 7, 2019
Through the ReddID web browser extension, token holders can tip their favorite content creators online using RDD. Supporters can simply create their own identity, record it on the blockchain, and start tipping on Reddit and Twitter. Support for Instagram, Flickr, and YouTube are likely to arrive in the future.