Vertcoin has bot gaining momentum since my last article, “Vertcoin Most ‘Active’ Coin” wasgoed written. Hopefully, that indicates that the method of analysis used has some merit. I used a ‘coin activity index’ to compare the prospects of the top 12 coins by market cap. Vertcoin scored highest followed by Dogecoin.
I would like compare those two coins again by putting them te a head to head matchup. The reason is that Vertcoin has bot steaming up the list of coins by market cap on Cryptocoincharts. Meantime Dogecoins spectacle has bot rather sluggish either indicating a loss of meme invasion or a lull te activity. For thesis reasons a fresh comparison is due. Without further ado let’s get onto the challenge.
Very first, let mij explain the activity index. It compares coins activity divided by market cap. There are three measures: The number of coins sent te the last 24 hours, the number of transactions ter the last 24 hours, and the number of active addresses all divided by market cap. The reason for dividing by market cap is to get some idea of how much a coin is being used vanaf the amount of money invested ter it. Hence the term ‘coin activity’. Following then is the very first chart which shows all three of thesis measures:
Wij see ter the chart that Vertcoin outperforms Dogecoin by an average of about three times.
One negative from the point of view of using the index at this point has to do with the fact that Vertcoin has recently approximately tripled ter market cap. Ter other words, the price has already appreciated a lotsbestemming. See the next chart:
Vertcoin price chart on Cryptsy
Due to this latest and rapid price appreciation it could be what is called ‘overbought’. It is usually best to buy on pullbacks, not right after price just went up 300%. So wij should keep this ter mind: even for a petite crypto the latest price appreciation has bot fairly significant. It may keep spiking up, but there is always the annoying chance of getting stuck buying at the top. It will depend on what is providing Vertcoin its current momentum, and how long that cycle lasts. One final point on the chart: Vertcoin is presently ter a nice flag or pennant configuration so a pauze up would be bullish.
Next, just to get some idea of how Vertcoin has bot overtaking Dogecoin let’s have a look at the transaction history from Bitinfocharts:
Vertcoin and Dogecoin Transactions
Vertcoin shows up squished to the bottom because Dogecoin wasgoed ter transactional orbit outdoing even Bitcoin ter transactions. The reason for this wasgoed most likely spamming the network, possibly by someone named ‘Wolong’, but perhaps wij will never know. Anyway wij can see how it looks like Vertcoin may Surpass Dogecoin te transactions at some point ter the near future.
Eventually, I determined based on a suggestion to add some social analysis to this. The following two charts display the number of Tweets vanaf day using the terms ‘Dogecoin’ and ‘Vertcoin’.
Vertcoin Tweets last 30 days displaying enlargened frequency Dogecoin Tweets showcasing little switch or declining frequency
Here Doge is still decidedly the leader. Ter fact, I had to use separate charts or Vertcoin would just be a line on the bottom. On the positive for Vertcoin, it is trending up while Doge seems stable or possibly ter decline.
So what is the reason for Vertcoins gaining momentum? Evidently it has to do with Vertcoins ASIC mining resistance due to adaptive n-factor technology that increases the memory requirements spil mining becomes more difficult. The Vertcoin Pagina on Reddit has a brief explanation.
Evidently, like Doge, Vertcoin, has a good community except that is not exactly based on a meme. Vertcoin is moving up the charts and te my opinion already challenging Dogecoin. Let’s see what happens next.
If you want to see a coin ter this comparison just send an email or make a comment. I am mostly looking for similar matchups or coins with good momentum, especially if they are about to rocket up spil Vertcoin recently did.