Brothers in bear market: What do Nano, Digibyte (DGB) and Bytecoin (BCN) have in common?

If we look at them from tech viewpoint – these three are completely different. From use case stance, Nano and DGB are both aiming to be payment coins, BCN to a lesser degree as well (primary focus is privacy protection).

But what makes these three projects proudly joined in our title is their miserable daily trading volume in the last 24 hours.

Trading volume totalled to only around $3 million according to Messari, for all three coins combined! All three of them, just to remind, are among top 50 cryptocurrencies by market cap.

Especially laughable was Bytecoin’s $150k of volume – a privacy focused project with slim chances of survival, disintegrating team and non-existent community is still sitting at $139 million of market cap. Of course, that is a nominal value and only small percentage of that could actually be realized which only exposes the whole market cap metric flaws.

The other two projects, that are known for their ardent supporters who are touting Nano and DGB to be far superior to bitcoin, amounted $2.7 and $1 million of daily volume respectively.

There is clearly a glaring lack of interest in these projects which is a worrisome thought for any holder. We are aware that bear market is a default state for crypto for more than a year, however, many smaller projects still attract at least 7 digits volumes on daily basis. For comparison, ICX is ranking below Nano but had $18 million of trading volume in the last 24 hours.

You can read on our predictions of Nano and DGB future here.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Philipp Traugott

Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.

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