Cryptocurrency Focus on Namecoin (NMC): Coin Reaches $2.04

In recent trading action, Namecoin (NMC) was recorded trading near the $2.04 mark on volume of 8413.

Investors may be trying to decide if cryptocurrencies will be a flash in the pan or if they will be the future of monetary transactions. Cryptos have some characteristics that may make them more attractive to consumers. The blockchain technology behind cryptocurrencies such as Bitcoin, records transactions on a distributed open ledger. In theory, this helps solve the problem of double-spending as it does not require a third party intermediary. The idea of decentralization would potentially allow for faster transactions and heightened security. As the crypto space continues to evolve, investors and consumers will be closely watching how developments unfold in the coming months.

As we move farther into 2018, investors may be starting to track daily movements in the cryptocurrency market. Although Bitcoin is still the most talked about crypto, there are others trying to make a name as well. Last year, the dramatic rise in the value of Bitcoin turned a lot of heads. Even though the value has declined recently, there are those who believe that the cryptocurrency is going to hit even greater levels in the coming years. Of course, there are also those who think that Bitcoin will eventually be worthless. Any way it gets sliced, it is hard to deny the popularity and attention that the crypto space has seen in the last few months.

Many investors are likely asking themselves the question, what impact will cryptocurrencies have in the long run? With the current state of the crypto market, it may be difficult to answer. Some proponents are comparing cryptocurrencies and blockchain to the revolution of the public Internet in the 1990’s. Obviously, there have been plenty of issues with full scale adoption of the internet along the way, but it is hard to argue that it has not completely transformed the world. If this new technology indeed becomes a transformative game changer, we could possibly see growth of unrivaled proportions.