NameCoin (NMC) plunges -21.20% on December 6-7

December 7, 2017 - By Vivian Currie

NameCoin (NMC) had a bad 24 hours as the cryptocurrency declined $-0.69 or -21.20% trading at $2.55. According to Global Crypto Analysts, NameCoin (NMC) eyes $2.81 target on the road to $5.82. NMC last traded at Poloniex exchange. It had high of $3.40 and low of $2.54 for December 6-7. The open was $3.24. About 49 NMC worth $148 traded hands.

NameCoin (NMC) is up 83.48% in the last 30 days from $1.39 per coin. Its up 25.63% in the last 100 days since when traded at $2.03 and the annual trend is up. 200 days ago NMC traded at $2.16. NMC has 14.74M coins mined giving it $37.58M market cap. NameCoin maximum coins available are 21.00 million. NMC uses SHA256 algorithm and PoW proof type. It was started on 18/04/2011.

Namecoin s a cryptocurrency which also acts as an alternative decentralized DNS which would avoid domain name censorship by making a new top level domain outside of ICANN control. The coin is designed to halve every four years with the same cap limit as Bitcoin of 21 000 000. With the domain registry service a small number of NMC will be destroyed so after mining has finished there will still be a deflationary ellement in place. Namecoin was the first coin to switch to merged mining.

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