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Here we are once again with our column analyzing prices and news of different crypto assets, today’s analysis will look at three major projects in the sector: Dash, Tetha Network and Polkadot.
In the article we will go deeper into the projects, analyzing the most recent prices, market statistics and news that have affected the crypto assets.
Prices and crypto market statistics of Dash, Theta Network and Polkadot
The first price to analyze is that of Dash, in the last week the Dash token has had a 14% increase bringing its price to $35.84.
As for market statistics, in terms of capitalization Dash presents $406.5 million with a trading volume in the last 24 hours of $66.7 million.
The circulating supply is 11.3 million DASH tokens, with an average holding time of 26 days.
Good news also for Theta Network’s token, which has realized +15% in the past 7 days, bringing its token to $0.74.
A big increase in market statistics also for Theta, which brings its market cap to $737.6 million, with a trading volume in the last 24 hours of $11.5 million.
The circulating supply of the THETA token is one billion tokens.
Last but not least, Polkadot, the token is at a price of $5.07, a symptom of a very good week that resulted in a +12.94%.
The token has a market capitalization of $6.3 billion and a volume in the last 24 hours of $150.1 million. As for the circulating supply, we have as many as 1.2 billion DOT tokens, with an average holding time of 109 days.
But let’s move on to the news affecting the aforementioned projects.
Dash completes its halving process
Dash (DASH), the prominent peer-to-peer cryptocurrency focused on payments, recently reached an important milestone in its development.
The completion of the halving process marks an important event for the Dash community and underscores the project’s continued growth and maturation.
The halving occurred at block 1,892,161, a predetermined point in Dash’s blockchain history. With this event, the block reward for miners was reduced to 2.3097 DASH.
Dash’s halving mechanism is designed to occur about every 840,000 blocks, which translates to about every four years. This periodic reduction in block rewards helps control inflation and guarantees the scarcity of Dash over time.
The completion of the process is an essential event in the life cycle of any cryptocurrency. It represents a crucial moment when the rate of new coin issuance is reduced, leading to a more controlled growth in supply.
The halving process is a key aspect of many cryptocurrencies, including Bitcoin, from which Dash was initially separated.
In addition to completing halving, Dash recently made headlines for being listed by the US Securities and Exchange Commission (SEC).
This distinction sets Dash apart from other Proof-of-Work (PoW) tokens, as it joins a select group of cryptocurrencies that have achieved this regulatory classification.
Recognition as a security by the SEC could have implications for Dash’s future, as it could open up new avenues for investment and greater legitimacy in the financial sector.
Polkadot (DOT) announces upgrade to its governance system
Polkadot (DOT), Ethereum‘s fearsome competitor, recently announced an update to its governance system, signaling a new phase of network decentralization.
The update to Polkadot’s governance system, known as OpenGov, aims to empower the Polkadot community by giving them complete control of the network.
The update eliminates the concept of “first-class citizen” constituents, including the Polkadot Council and Technical Committee, and replaces it with a model based on token ownership.
The number of DOT tokens owned by a user will determine their voting power. This move aims to transform Polkadot into a fully autonomous, transparent and efficient decision-making network.
In addition, the new governance infrastructure allows multiple proposals to be voted on simultaneously by the Polkadot community.
With OpenGov, Polkadot has transformed into a fully decentralized Web 3 project, placing all governance processes under the direct control of community members.
This change is in line with the general principles of blockchain technology, which emphasize decentralization and community participation.
Polkadot aims to revolutionize the blockchain industry by creating an interconnected and scalable ecosystem that enables seamless communication and collaboration between different blockchains.
With its innovative architecture, strong governance model and focus on scalability, Polkadot has established itself as a significant player in the crypto space, offering a promising platform for decentralized application development and the growth of the decentralized web.