Although we could see some significant improvements in the market after the most recent dip has ravaged the majority of cryptocurrency prices, including Ethereum (ETH) dropping to its nine-month lowest during the last 24 hours, Groestlcoin (GCR) rebound against the fiat made quite an impact in the market.
Rising by over 79% against the dollar, GRS battled against the harsh downtrend, while the top 20 currencies in accordance with the market capitalization also managed to pull out a neat return after the horrific dips took place on August 14th.
Groestlcoin Defying the Market Trends
Groestlcoin (GRS), currently ranked as the 108th top currency in accordance with market capitalization while Gecko Rank marked GRS as one of the top 100 ICOs, taking the spot number 77th, has a common reputation of defying the market trends, especially going against a bear market.
The coin was launched back in March of 2014, which makes it already more than 4 years old, presented as the first blockchain platform to use SEGWIT while offering zero-fee transactions and rising nearly 450% in the course of a single year.
Groestlcoin was even suspected being a part of m and dump scheme back in April when GSR went up by over 100% against the fiat, however, there wasn’t any “dump” involved in the alleged scheme, so the word on having GSR being purposefully pumped soon died out.
In addition to using SEGWIT, Groestlcoin utilizes Lightning Network, while representing an ASIC miner-roof solution and private transactions, stating that GSR is updating the public with new developments on every three months, that way maintaining a benevolent reputation in the market.
Although ranked below the top 100 list, GSR offers neat features and solutions for blockchain and crypto users, which might be the reason why GSR managed to defy the rough market currents more than once in its lifetime.
Groestlcoin GSR and the Recent Developments
While GSR platform is offering smooth end-user experience with zero-fees, private transactions, and Lightning Network, as promised on their official website, GSR is launching new updates every once in a while, keeping the Groestlcoin project alive and running.
One of the latest projects announced by the GSR blockchain is the addition of GSR Pay, a service that will allow merchants to easily accept crypto-based payments.
With this move, Groestlcoin is going for mass adoption of GSR, while the announced service may also be one of the factors to push GSR up by nearly 80% during the last 24 hours.
Although the most recent rise against the dollar marked GSR as one of the top winning currencies of the day, Groestlcoin lost over 70% of its value since its all-time high.
In the latest development report from the team GSR published on June 22nd, the team has shared the latest updates and developments with their users and followers, announcing that GSR has been added to 17 different exchange markets while making 13 development releases.
Groestlcoin also recently shared a video from 2017 on their Twitter page, showing that paying for a cab in London was enabled with GSR digital wallet even almost one year back thanks to the utilization of Lightning Network.
Groestlcoin in the Market
Ranked as the 108th best currency in accordance with the official ranking list, GSR is counting over 45 million dollars in market capitalization. The currency first touched the 1$ value in November of 2017, while it made it all-time high of over 2$ back in December.
What makes GSR interesting to investors is the fact that this currency has made it bullishly against the dollar even during market dips, posing major rises over a very short period of time without the trace of having a pump and dump scheme in the process.
That is how GSR also made it above 1$ with a sudden rise in May 2018 as well, while it once again showed a bullish behavior by rising by nearly 80% against the dollar.
GSR is still being traded under the 1$ price, however, pumping over 0.60$ with nearly 80% of gains in a single day, Groestlcoin is seen getting closer to the symbolic price.
Moreover, while the majority of top coins are showing negative charts within the period of the last 7 days, GSR is showing gains of 24.6% during the last week.