After the launch of ReddCard and ReddPay earlier in April, the social coin, Reddcoin (RDD) focuses on launching its debit card and ATM network after securing a partnership with Investa, a blockchain company. Investa is a blockchain that aims to ease the services on blockchains and increase value of their crypto assets. The company offers the user with a wallet, an exchange, debit cards and will later open a network of ATMs across the world. This recent announcement was made official on the company’s Reddit page, giving investors high hopes in the future of the coin.
“Reddcoin Core is pleased to announce that we are exploring a partnership with INVESTA to leverage their services and platform to offer a Reddcoin-backed Debit card and network of global ATMs. We look forward to potentially being the first cryptocurrency to be integrated in this way, allowing for easy use and storage of Reddcoin in the real world.”-REDDCOIN REDDIT POST
This recent partnership will make fiat to crypto pairs exchange a possibility for RDD driving up adoption of the coin. As debit cards, ReddCard, ReddPay and ATMs make their way to the customers, merchants will be willing to accept the currency as payments as well as content creators on social sites.
Reddcoin in brief
Reddcoin (RDD) blockchain aims at capturing the social media frenzy market by paying you to use social platforms. The blockchain can be accessed through their browser extension on Google Chrome or Mozilla Firefox. The token, RDD is used as the intra-payment currency and can also be used to make trades on external platforms. The social tipping currency focuses on rewarding content creators, curators and app developers across social networks. It is comparable to how Steem reward system functions on Steemit but RDD is built for Twitter, Facebook, Instagram and other social sites available.
RDD was launched in early 2014, (yes it is that old!) with each RDD retailing at a less than $0.00004 USD per token. The coin has saw massive growth in the last two quarters of 2017 to finish off the year at $0.01 USD, a staggering 24000% increase in price since inception.
The numbers behind RDD
The price since has hit an all-time high in January to close at $0.03 USD per RDD token. A bear run wiped off most of these gains in the next two months as the coin dropped to $0.004 USD in mid-March. RDD is currently trading at a three-month high at $0.0145 mark for the first time since late January. This quick rise represented a 5% 24 hour increase as signs of a bullish momentum starts to show on the hourly technical charts.
This Thursday saw Reddcoin (RDD) 24 hour volume trades surpass the $90 million mark as it recorded the highest daily traded volumes since late February. The coin is currently ranked at position 69 on the Coinmarketcap largest coins rankings with a total market capitalization of $308,175,447 USD. The partnership with Investa will be crucial as Reddcoin aims at soaring above the $1 mark in 2018.