DCR (Decred) rose 70.32% in 24 hours.

Gate News Bot news, on November 4th, according to CoinMarketCap, as of the time of writing, DCR (Decred) is currently priced at $31.14, having pumped 70.32% in the last 24 hours, with a high of $32.56 and a low of $15.67. The 24-hour volume reached $56.5 million. The current market capitalization is approximately $533 million, an increase of $220 million compared to yesterday.

Decred is a cryptocurrency designed to upgrade and evolve over time based on the opinions of its holders. It uses a hybrid proof-of-work/proof-of-stake consensus mechanism with a total supply of 21 million coins, featuring self-funding characteristics. The main features of Decred include staking, voting, treasury, proposals, security, fungibility, and the Lightning Network. The project was conceived by a group of Bitcoin developers and Monero legend tacotime, aiming to empower holders through a unique hybrid consensus system that balances security, sustainability, decentralization, and user participation.

Important news about DCR recently:

1️⃣ Mixed consensus mechanisms attract attention The unique hybrid proof-of-work/proof-of-stake consensus mechanism of Decred has sparked market discussions. This innovative design aims to balance security, sustainability, and decentralization, bringing new attention to DCR.

2️⃣ Community governance features stand out The community governance features of DCR, such as staking, voting, and proposal systems, are favored by investors. These characteristics allow token holders to directly participate in project decision-making, enhancing the attractiveness of DCR.

3️⃣ Technical Upgrade Expectations The market holds a positive attitude towards Decred's potential technical upgrades. As a project that emphasizes evolution and adaptability, any potential improvements could drive the DCR price rise.

From a technical perspective, DCR has broken through multiple resistance levels, showing strong upward momentum. However, such a rapid rise may also bring short-term retracement risks, and investors should closely monitor the performance of support levels.

This message does not constitute investment advice; investors should pay attention to market volatility risks.