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[Sticky] Is Namecoin, the First Altcoin, Dead?


Mariya
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Namecoin (NMC) is the first Altcoin. It was created in April 17, 2011, 5 months before the release of Litecoin. Namecoin uses the same code that Bitcoin uses and also the proof-of-work algorithm of Bitcoin (SHA-256). Just like Bitcoin, it has a limited supply of 21 million. The current supply of Namecoin is 15.8 million and has the price of $1.40, has a market cap of 22.16 million  and market cap rank of 709 (as of August 8, 2021).

Is Namecoin (NMC) dead?

Namecoin was created by someone called Vince, who after creating the coin vanished just like Satoshi Nakamoto. You cannot find Namecoin on popular Exchanges like Coinbase and Binance, but it is still listed on 5 different exchanges like CoinEx, SouthXchange, and YoBit. The last 24 hours trading volume (as of August 8) is $13,000. Namecoin is not completely dead but it is of course on the verge of collapse. The coin reached all time high of $13 in November 2013 and all time lowest price was $0.02 in March 2020.


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BrolySSJ
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This is actually very interesting news because I did not even know that this was a crypto-currency that was developed. My thinking was that LTC was the first alternative cryptocurrency that was created after bitcoin however it seems that this was not the case and that this name coin was actually created quite a bit before LTC. I think that perhaps they might have been a few issues regarding a network because if it was a very viable network then it would have seen a lot of success as the other alternative cryptocurrencies have shown after they have been developed. Do you know of any reason why this coin was potentially decreasing in price or do you think it was just because there's a lot of people that are unaware of it? Advertising is a very important part when it comes to cryptocurrency success.


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Suba
 Suba
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A very inspiring thread, so we should not carelessly invest in cryptos that people have forgotten like Namecoin (NMC). Surprisingly Namecoin was the first Altcoin created and the first to die. Even though you say it's not completely dead but the users have left it, it will be very risky to invest.

This post was modified 4 months ago by Suba

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Tanya
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I don't think I heard about a coin called namecoin previously. I always though Litecoin was the first alt coin, but looks like Namecoin is older than Litecoins, thus making it the first altcoin. If namecoin is the first altcoin, why did not it become as popular as litecoin or relatively newer coins?


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