The landscape of top-performing coins in cryptocurrency has shifted again, with the meteoric rise of altcoin Nextcoin to beat Darkcoin to third place.
While we recently reported on Darkcoin’s attaining the honored position of the fourth biggest currency, solid new features added to an already strong framework have allowed Nextcoin to storm into the top three.
As forexminute reports, the release of Nextcoin’s new asset exchange sent its value soaring, with its minimum market cap reaching US$39million on May 29 following release day. And it kept on going, with reported sell-offs of Darkcoin for other altcoins, to reach a cap yesterday of over US$60million.
The coin is already known for its less resource-intensive mining, a major factor in drawing in its dedicated client base since its inception. Add to this 100% proof-of-stake and it is clear why NXT is giving the likes of Dogecoin, which still licking its wounds after a disastrous previous month, a run for their money.
For the meantime, Nxt seems to be a clear winner. The coin, after the launch of its asset exchange at around May 29th, has shown immense growth. It’s last known minimum market cap was recorded over $39m on the aforementioned date. This was also the time when most of the Darkcoin users said to have been exchanging their coin with other altcoins. We believe this was the same time during which Nxt saw a massive jump in its market cap and value. The coin kept on increasing, and is currently wearing the market cap worth over $58m.
The Quick Nxt Recap
Nxt was launched few months ago with a factor no other cryptocurrency have, that is a unique source code. While the most popular and successful altcoins we know today are nothing but a twisted version of Bitcoin, Nxt emerged as the only coin that broke the shackles of Bitcoin’s shadow and created its own path to beat this master of digital currencies.
Nxt offered what Bitcoin simply lacked, which is eco-friendly mining, more secure and fast thanks to transparent forging, and none the least its feature of 100% Proof of Stake. Although the coin had its own troubles, such as users finding it too complex because of it being too technical, but its talented team of developers quickly responded by updating its client and making it more user-friendly.
We simply believe 
that Nxt somewhat deserved a chance just for being a different version of digital currency let alone the better-than-Bitcoin hype. Now with the coin being on the top three market caps, there is hopefully a large quantity of investors and merchants looking towards circulating this next gen gem.
The rise has been so subtle that it was overshadowed by Darkcoin’s meteoric ascent, despite Nxt having surpassed it in rank.
Volume has been moderate: currently $320,000 worth traded over the past 24 hours. While this doesn’t compare with Darkcoin’s traded volumes, it is still a far cry from those of most other coins. It suggests that traders are genuinely willing to trade the coin at the posted prices.
Nxt is still well off its all-time highs set earlier this year, like most coins. In January, it briefly traded for the equivalent of $0.10.
Like Bitcoin, the cause for Nxt’s recent rise is unclear. Some have speculated that a spate of recent announcements for newly added features set off a surge in demand, although such announcements were not infrequent even 3 months ago.
Either way, one gets a sense that the crypto world is growing weary of the many altcoins piggybacking off of Bitcoin and are looking for something different.http://cointelegraph.com/news/111641/nextcoin_conquers_no_treats_for_dogehttp://www.forexminute.com/bitcoin/nxt-beats-darkcoin-becomes-the-third-wealthiest-cryptocurrency-by-market-cap-33606http://dcmagnates.com/nxt-quietly-triples-in-value-now-third-in-market-cap/
