Why is Peercoin tracking below Namecoin price?
I've seen this question come up a lot since Bitcoin begun rising.
These two altcoins have historically followed each other very closely in terms of price until recently. As Bitcoin rises and altcoin prices have fallen, we have seen Peercoin (PPC) drop below Namecoin (NMC) significantly.
I believe the explanation for this is quite simple: there are more Peercoins in the market than Namecoins, therefore there are more potential sellers.
According to coinmarketcap.com/ the current PPC supply sits at around 21 million. The same site states the current available amount of Namecoins is around 9 million.
These two altcoins have historically followed each other very closely in terms of price until recently. As Bitcoin rises and altcoin prices have fallen, we have seen Peercoin (PPC) drop below Namecoin (NMC) significantly.
I believe the explanation for this is quite simple: there are more Peercoins in the market than Namecoins, therefore there are more potential sellers.
According to coinmarketcap.com/ the current PPC supply sits at around 21 million. The same site states the current available amount of Namecoins is around 9 million.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.