25.1 C
Kathmandu
Wednesday, June 16, 2021

Currently in beta testing - RECAP Token. Interested? Join here!

Dubai’s first cryptocurrency Dubaicoin surge

  • N/R
  • N/R

Must read

Biden administration expands investment ban on Chinese companies

President Biden signed an executive order prohibiting Americans from investing in Chinese companies tied to the country's military or selling surveillance equipment...

मेघ

नगर्जी देउ गगन तिमी मनलाइ चिरा पारेर।नबसी देउ बादल तिमी लाजको घुम्टो ओडेर।तारा चम्की देउ सूर्य उदाउ तिमी।रिम झीम रिम झीम बर्षा...

भाग्यले ठगीएको

भाग्यले नै ठगीएको मत एउटा मान्छेकर्मलेनी हारेको मत एउटा मान्छेन दु:खमा डॉको छोडी चिच्याएर रुन सक्छुन खुसी भै पेट मिचि हॉसीदिन पनि...

मन

आखैमा गाजल नि लाउन मन लाग्छ।ओठैमा लालीनी लाउन मन लाग्छ।मत ठुली भएछु मत ठुली भएछुतारालाई छुम् छुम् लाग्छ मलाइतजुनसगै खेलु झै  लाग्छ...

ubai launched its first public blockchain-based cryptocurrency. In just 24 hours, the price of DubaiCoin (DBIX) rose by 1000%. Cryptocurrency is currently traded on certain exchanges. The public blockchain will allow people to generate their own Dubaicoin through mining. At the time of writing, the current price of the coin was $ 1.13, and its market capitalization was $ 4.84 million. The supply of DBIX is 4.26 million currently.

DubaiCoin was launched by ArabChain Technology from the United Arab Emirates (UAE). The company claims to be the first blockchain-based public cryptocurrency in the Arab world. The company plans to use the coin to pay for different goods and services both online and offline.

Dubai Coin works just like any other cryptocurrency. With the rise of digital currency mining, it will increase instability. However, the company said the price would be based on the city of Dubai. The central bank may also qualify as a digital currency and appears to have a much deeper connection to China’s official digital yuan, which is currently being tested in the country. It should be noted that the RBI of India also plans to launch its own digital currency.  

Meanwhile, cryptocurrency trading has seen fluctuations over the past few weeks following China’s ban on virtual coins. Environmental issues associated with bitcoin mining have also affected the entire cryptocurrency market. Cryptocurrency prices recovered on Friday after trading weakened on Thursday. At around 9:25 am, Bitcoin was trading just over $ 38,000. As China cracks down on cryptocurrencies, it is still struggling to break through $ 40,000. Bitcoin is down nearly 30 percent this month amid concerns from China and Elon Musk stocks about the environmental impact of cryptocurrency mining.

References :

  1. https://www.businesstoday.in/current/economy-politics/dubais-own-cryptocurrency-dubaicoin-jumps-1000-percent-in-24-hours/story/440203.html. Accessed 4 June 2021.
  2. https://www.viralbake.com/dubaicoin-dubais-1st-cryptocurrency-jumps-1000-in-24-hours/
- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Biden administration expands investment ban on Chinese companies

President Biden signed an executive order prohibiting Americans from investing in Chinese companies tied to the country's military or selling surveillance equipment...

मेघ

नगर्जी देउ गगन तिमी मनलाइ चिरा पारेर।नबसी देउ बादल तिमी लाजको घुम्टो ओडेर।तारा चम्की देउ सूर्य उदाउ तिमी।रिम झीम रिम झीम बर्षा...

भाग्यले ठगीएको

भाग्यले नै ठगीएको मत एउटा मान्छेकर्मलेनी हारेको मत एउटा मान्छेन दु:खमा डॉको छोडी चिच्याएर रुन सक्छुन खुसी भै पेट मिचि हॉसीदिन पनि...

मन

आखैमा गाजल नि लाउन मन लाग्छ।ओठैमा लालीनी लाउन मन लाग्छ।मत ठुली भएछु मत ठुली भएछुतारालाई छुम् छुम् लाग्छ मलाइतजुनसगै खेलु झै  लाग्छ...

माया

लेखेर लेखीन्न हेरेर देखीन्नहत्केलाको भाग्य रेखा मेटेर मेटीन्न।पानी झर्ने त्यो धारा पधेरीमायासगँ जान्न म हत्तारीरेलैमा चढेर जान्न मत तिम्रै भर परेर।पढछु मत...