- Reddcoin is up more than 586% in the past two months, proving that alts can decouple from Bitcoin
- PoSV V2 is helping Reddcoin become more secure and more rewarding for users
- Community growth and charts indicate that the gains are going to continue for some time to come
Reddcoin is one of the most exciting Litecoin forks that we’ve seen in recent years, and it’s changing the way we tip and send payments for social content. Launching back in 2014, Reddcoin has gone on to turn heads all over the crypto world.
Since its launch, Reddcoin is up more than 5,400%, but it’s the gains it has made during 2020 that is starting to impress crypto investors. Since March 2020, Reddcoin has been on a massive surge, up more than 586% at the time of writing.
Alts Leading the Way
While everyone has been closely watching Bitcoin and a handful of the other top cryptocurrencies, it’s the altcoins that have been breaking away and decoupling from the Bitcoin price action. Instead of simply trading based on Bitcoin’s performance, Reddcoin has managed to decouple and create its own value thanks to its innovative Proof-of-Stake-Velocity (PoSV) consensus mechanism.
It’s not just Reddcoin that’s been leading the 2020 altcoin charge. DigiByte, an incredibly popular decentralized token, is up more than 1,100% since its lowest point in March 2020. This just proves once more that innovation, adoption and a genuine base of loyal users is far more important than speculative value like we see in other projects.
Does Reddcoin Have the Legs to Keep the Momentum Going?
The question on every crypto trader’s lips is a simple one, will this huge upwards movement continue? Well, if you take a look at the charts for Reddcoin (RDD), you’re going to see nothing but positive news. Thanks to its lightning fast transaction times and incredible real-world use cases, demand for RDD is skyrocketing. The MACD Level 12 and 26, Bull Bear Power, EMA 5, 10, 20, 30 and 50, SMA 5, 10, 20, 30 and 50, Volume Weighted Moving Average 20 and Hull Moving Average 9 all indicate that RDD is in the ideal buy position. If that’s not enough positive indicators for you, then we’re not quite sure what is.
PoSV V2 Making Reddcoin Even More Powerful
Back in December, Reddcoin announced its latest upgrade to PoSV V2. This brand-new wallet upgrade is a quantum leap forward for Reddcoin, introducing a more powerful wallet engine that will allow for the latest Bitcoin Core security and feature code to make an appearance. On top of this, the maximum staking rewards has been increased by up to 5x. This means when you’re staking your RDD tokens, you’re making the network safer than ever before and earning a whole lot more coin for your efforts.
Where Can I Get Reddcoin?
Reddcoin is definitely a cryptocurrency that needs to be in your portfolio thanks to its meteoric gains in 2020, and the charts are hinting that this movement isn’t going to end any time soon. If you want to get your hands on Reddcoin, head on over to changeangel and start swapping your coins today. Changeangel is the swap exchange for social good, giving back to communities in need. Last year, changeangel donated enough money for more than 2,200 people to get access to fresh and clean drinking water. If your exchange fees are going somewhere, it’s better to go to people in need rather than a greedy CEO’s yacht fund!