Gridcoin Market Performance in August
August was a very bad month for all the crypto currencies, with very few exceptions (Dogecoin, Nano, Bytom and Metaverse). Gridcoin had also it's dramatic time, closing at record lows (last time when GRC was bellow 0.000003 BTC was in August 2015).
On August 1st, the opening price of GRC was $0.030754, making a market capitalization $12.58 Million. One month later, Gridcoin was closing at $0.020895, for a market cap of $8.68 Million. In relative numbers, Gridcoin was down by 32.05%. Looking at the volumes, 568536 GRCs were traded in August, almost half of the volumes on July. On the other hand, all the known Gridcoin faucets are empty, a sign that there's still a high momentum, more and more people looking for this coin.
OK guys, vacation is over! We are all back to make Gridcoin great again!
I wish you a happy and profitable September!
Despite this downtrend in marketcap, the combined computing power of team Gridcoin is continuing to grow - we're now doing more than 1 Billion RAC per day and we'll eventually overtake the 1st place ASIC leaderboard without ASICs :D
Re: RAC, since last week, Team Gridcoin has been responsible for a third of the entire non-ASIC BOINC crunching. Source: https://boincstats.com/en/stats/-5/team/detail/118094994
At the current rate we will be Number 1 on the ASIC leaderboard in around 6 years but because technology advances and we will get new members (!!) this will be for sure quicker... :D
Still, not that bad ;D
Given the lack of BU, perhaps boincstats might end up ditching the 'ASIC' leaderboard split? 🤔
This post received a courtesy vote from the @gridcoin-booster! Thank you for your contribution to the #gridcoin community!
I blogged about this yesterday at https://steemit.com/gridcoin/@rufusfirefly/what-is-driving-gridcoin-s-price. A graphic shows that GRC's price is being driven by Ethereum and that its price relative to Ethereum has been slowly declining.
Coins mentioned in post:
6.52737797 GRC ... xD