One year ago, Bitcoin was challenging all-time highs near $1,000 and several alts were setting new highs of their own. It’s been the opposite story this year as prices continue to plunge to new lows.
Of the top currencies, as ranked by market cap, only one is resembling anything close to January 2014-like behavior: NuShares (NSR).
NuShares is a Peercoin-driven project, in fact a more customized version of Peershares. Shares can be used for voting on the “Nu” network, in a sense possessing some similar traits as other Bitcoin 2.0 currencies. According to its website:
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“NuShares are units held by individuals who wish to help support and maintain the Nu network. Owning NuShares is not required to use NuBits. Instead, NuShares are intended to be a source of network equity for developers, entrepreneurs, and speculators. NuShareholders can receive network revenues in the form of Peercoin dividends paid out by a custodian.”
Thus far in 2015, NSR is up by roughly 75% in bitcoin terms, and 30% in dollar terms, earlier rising as much as 50%. Their bitcoin-denominated value has increased four-fold since hitting lows shortly after launch. One NSR is currently worth 3,500 satoshi ($0.0085).
It has climbed to 12th spot in market cap rank, currently worth $5.8 million. It has surpassed Namecoin, long a staple among top-rated coins, in valuation.
Like with all cryptos going through a period of multifold gains, the test of time is the best indicator if its (perceived) value is genuinely increasing or if it is merely a target for pumping.