Nasdacoin (NSD), a cryptocurrency for digital transactions, has reached the news recently for the huge jump in price. How does the future look like for NSD?
With the cryptocurrency market once again melting down in front of their eyes, digital asset owners have felt that the recent days were harsh for them.
However, only the opposite could be said for Nasdacoin (NSD) owners.
Late November 14, Nasdacoin—a digital currency used primarily in crypto transactions—appeared across many price tracking bots for its huge increase in value, despite the entire crypto market losing millions at the same time.
Biggest Gainers in Crypto Today pic.twitter.com/kPWLuAxWCb
— LiveCoinWatch • Crypto Analytics (@LiveCoinWatch) November 15, 2018
— HIGH IQ WHALE (@CryptoWhalebot) November 16, 2018
In just a couple of days, NSD’s price rose by more than 360 percent from US$1.03 to US$4.76. As of November 16, NSD is worth US$3.50, a drop of 36 percent.
After the crypto was pushed into the spotlight, many curious enthusiasts have started asking what could be the next thing for the Nasdacoin project.
Last March 2018, the Nasdacoin project held its initial coin offering (ICO). Many online analysts suggested around that time that the entire project was just another Ponzi scheme. They pointed out the similarity of Nasdacoin’s affiliate program with a multi-level marketing structure, as well as the supposed connection of the project’s co-founder John Baptist to famous crypto scam BitConnect.
Nevertheless, Nasdacoin survived scrutiny and released a number of crypto-based products beyond the much-criticized affiliate program. As of the moment, this crypto project offers an investment program and an exchange platform where individuals can purchase and sell NSD for Bitcoin (BTC).
— nasdacoin_official (@nasdacoin_io) November 1, 2018
In the near future, at least according to the project’s own roadmap, NSD followers can expect three exciting products that would provide more use cases for the crypto.
Nasdacoin Visa cards would allow cardholders to convert their NSD to fiat currencies. Meanwhile, coin owners can use their NSDs to purchase a number of high-tech gadgets—including a PlayStation 4, an iPhone X, and a Samsung 4K television—and more on the Nasdacoin Market Place.
However, analysts were not confidently sure that the price and popularity of NSD would significantly increase with those upcoming developments, given the tainted reputation the project still has.