DubaiCoin DBIX Jumps 1000% in 24 Hrs after the launch
United Arab Emirates (UAE) based company Arabian chain Technology launched a cryptocurrency called DubaiCoin . It is claims to be the primary public blockchain based cryptocurrency within the Arabic world.
Jumping on the bandwagon, Dubai has launched its own cryptocurrency called as DubaiCoin (DBIX). supported a public blockchain, the crypto is trading on number of exchanges. Public blockchain will allow users to create their own DubaiCoin by mining .The worth of the coin rose by 1,000% over the last 24 hours. According to Crypto.com, Dubai Coin was trading at around $0.17 but picked up to $1.13 on May 27.
although, Government of Dubai clarified that the digital coin has not been approved by any official authority.
“Dubai Coin cryptocurrency was never approved by any official authority. The website promoting the coin is an elaborate phishing campaign that is designed to steal personal information from its visitors.”—Dubai media office
Closer home, Indian cryptocurrency platform Polygon is been in headlines. polygon got funds from the Billionaire investor of Shark Tank fame, Mark Cuban. Its native token Matic has crossed a market cap of over $10 billion and is now among the very best 20 crypto coins within the planet.
Moreover, cryptocurrency prices rebounded on Friday after trading weaker on Thursday. Bitcoin was trading just above $38,000 at around 9:25 am. It’s still struggling to jump over the mark of $40,000 amid China’s crackdown on virtual coins. Bitcoin has tumbled roughly 30% this month amid China’s crackdown and Elon Musk’s concerns on the environmental impact of crypto mining.
