After its initial release, RDD went into a bullish trade in the first months. It resulted in reaching $0,00023 per coin on the 27th of July 2014. After that, the price went down and established under the $0,00008 line for the rest of the year.
The year 2015 was marked by a single peak on January 8 when the price reached $0,000073 for a moment. For the rest of the year, RDD traded in the sideways below $0,00004.
2016 was the period of harsh fluctuations of the RDD’s rate. It traded mostly under $0,000048 with slight peaks over that figure. 2016’s price chart looks like a roller coaster for this coin.
In 2017 the flatline remained the main trend until May. At that point, the price started to grow to the level of $0,00029 and went on fluctuating around $0,0001 after that. But at the end of the year RDD started to pump and reached $0,017 on December 20.
That trend continued in 2018. The price went on growing until the 7th of January when it reached the all-time high of $0,032391. After that, RDD fell to the zone under $0,012 and had been trading there until July. The price kept under $0,006 for the rest of the year with a slow decrease.
2019 wasn’t too bright for the coin’s market positions. The rate held in the sideways under $0,0024 with only one insignificant breakout on June 26 when the price was $0,002443.
As of this writing in December 2019, the current RDD price is $0,000578. According to the CoinMarketCap’s website the current market cap is $16 665 704 — it is the 164th amount among all cryptocurrencies. RDD’s daily trading volume is $19 371. The amount of the circulating supply is 28 808 713 174 RDD. The overall price gain in comparison with the initial price is 1 563,71%.
Experts and crypto portals are quite optimistic about the RDD’s positions in the nearest future.
Tradingbeasts portal predicts a strong bullrun that will lead to the price of $0,0012585 in December 2020.
Coinfan crypto analysis portal is also positive about Reddcoin in their predictions. According to them, the RDD cost will establish between $0,0117 and $0,01495 at the end of 2020.
Coinswitch service published an analysis article about Reddcoin with a quite promising long-term forecast. It states that RDD is a good investment as its price will be $0.035 in 2023.
This article is not financial advice, but we see potential in Reddcoin as well.
What is Reddcoin
Reddcoin is a decentralized cryptocurrency designed to become a part of the communication through social networks. Its main purpose is to be a currency for tipping and money transferring withing popular social platforms. As a fulfillment, Reddcoin’s open API supports all major networks: Facebook, Twitter, Reddit, Twitch and many more.
The main position of the coin is a payment service for digital life — like its main competitor Steem or legacy currencies like Snapchat’s Snapcash. But this project is based on principles of blockchain which means it can be mined. Developers provide a native tool — the ReddID wallet. RDD’s mining is based on the so-called Proof-of-Stake-and-Velocity algorithm abbreviated into PoSV. It is an advanced variation of the well-known PoS scheme, but it also takes into count the overall community activity of the miner. It means that the main influence factors are the amount of the staked coin and the participation rate. This mining model doesn’t require any computing power, only being involved in the project. Therefore, RDD can be mined by simple computers, laptops or even tablets and smartphones.
All in all, the market positioning of the project seems to be quite actual. Social media is a huge market that never stops growing. Tipping the content creators and influencers is as common as leaving tips for good service in a restaurant.
Reddcoin went live on the ICO that took place at the end of 2013 and January 2014. It gathered $100 000 in BTC and ended on the 20th of January. At that point, 5.45 million RDD was distributed among the pre-sale participants.
On the technical part, Reddcoin initially forked from the Litecoin. Initially, it used the same classic PoW mining algorithm, but later it deployed a major update that changed the blockchain to the PoSV algorithm. Reddcoin is presented as a desktop soft solution and browser plugin that automatically integrates the RDD transaction feature on the supported websites. All the devices with installed Reddcoin’s software act like nodes automatically and can earn benefits for its owner.
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