Darkcoin (DRK) has continued its 2015 rally, hitting new multi-month highs.
Noteworthy is that DRK’s rally comes at a time of mediocrity in bitcoin prices and uneventful activity in the altcoin markets. DRK is currently trading at 0.0195 BTC ($4.82)–a 9-month high in bitcoin terms and a 7-month high in dollar terms.
It has nearly tripled year-to-date and gained nearly 4-fold since bottoming during the August volatility. Its outperformance over most other coins has propelled it to its highest market cap ranking (4th) since its May 2014 rally. At $25 million, it is worth nearly 40% of the once mighty Litecoin.
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Time has usually been the best test to how altcoins can maintain their value. Most that experienced huge spikes last winter have since failed to return to their glory days. Darkcoin’s ‘hanging in there’ over the past year is therefore a milestone in of itself; the coming months, typically volatile ones in crypto trading, may show how long this will last.
It is possible that crypto enthusiasts have discovered real utilitarian value with Darkcoin and its complementary tools, for which a number of enhancements have been made over the past months. According to its FAQ page, Darkcoin can obfuscate transactions to the point that even an adversary with “NSA-level” resources is incapable of cracking them. Last November, it was reported that Darkcoin support was added on dark net drug sites.
As some staunch libertarians may be perceiving the Bitcoin industry becoming uncomfortably cozy with the worlds of regulation and compliance, they may be looking for viable alternatives upholding their vision for a truly anonymous cryptocurrency.