Industry experts advise us to keep our eye on CannabisCoin as a leader among altcoins. The U.S. federal government hasn’t fully decriminalized marijuana for legal bank transactions. NFTs are Non-Fungible Tokens and provide investors an easy and affordable entry into the global cannabis market through this tokenized investment instrument. Marijuana-specific cryptocurrencies also use digital wallets to hold and store coins, just like regular cryptocurrencies. The supply of PotCoin is limited to 420 million coins, with 115 million in circulation in June 2023. It trades on five markets and transitioned to proof-of-stake, which allows people to mine or validate block transactions according to the number of coins they hold.
- Cryptocurrencies make it easy for those in the marijuana industry to carry out transactions.
- As it relates to the value of the CannabisCoin, the coin ranges from $10 to $20.
- PotCoin was one of the earliest cannabis cryptocurrencies, launched in 2014.
- The supply of PotCoin is limited to 420 million coins, with 115 million in circulation in June 2023.
Established in 2014, HempCoin was designed for use by the farming industry and medical and recreational dispensaries. HempCoin’s website claims to “help facilitate secure transactional relationships between farmers, distributors, and consumers.” As of June 2023, HempCoin has 267 million coins in circulation. Businesses and operators selling or distributing recreational and medical marijuana are barred from using banks for their transactions because of federal legislation. The development and use of marijuana-specific virtual currencies fill the hole in this market.
YES WE CANN
You should also be aware of the potential for loss, and only invest what you can afford to lose. Analysis was done on daily data, so all moving averages, RSI, etc.., were calculated on a daily CannabisCoin price chart. To see more analysis and outlook, please check the CannabisCoin price prediction page. CannabisCoin’s current circulating supply is 77.23M CANN out of max supply of 91.86M CANN.
PotCoin was one of the earliest cannabis cryptocurrencies, launched in 2014. Its creators capitalized on Colorado’s legalization of marijuana and installed a PotCoin automated teller machine (ATM) at a marijuana dispensary in Colorado. In 2017, a press release and a video of former NBA star Dennis Rodman sporting a PotCoin.com shirt in North Korea doubled its value in one day.
We also gather additional information from different sources to ensure we cover all necessary data or events. By January 2018, PRG was worth $0.778, with a market cap of $50.5 million. Its collapse wasn’t as dramatic as the first two on the list, but it happened nonetheless.
CannabisCoin Price Live Data
In January 2017, its market cap was just over $175,000, and one CANN was worth $0.002! If you had the vision to invest in CANN back then, you would have enjoyed a Gordon Gekko-esque ROI. As it relates to the value of the https://cryptolisting.org/blog/is-there-any-distinction-between-net-current-value-and-discounted-money-move, the coin ranges from $10 to $20. It is based on the Bitcoin protocol and is backed by a physical product (i.e. the cannabis itself). This makes it a lot more stable than other forms of cryptocurrency. It comes with a Cannabis Coin Wallet that can be used as a cross platform ad installed on your computer using Windows, Android and Mac operating systems.
What Legislation Will Officially Decriminalize Marijuana?
CannabisCoin promises to convert cryptocurrency directly into marijuana. ⚠ Trading cryptocurrencies involves risk, and may not be suitable for all investors. Cryptocurrency prices can be volatile and unpredictable, and may be influenced by various factors, including market manipulation, regulatory changes, and technological developments. Similar to Bitcoin, it used peer-to-peer technology and ran on a decentralized blockchain platform.
CannabisCoin Historical Stats
Through a movement entitled “YES WE CANN” marijuana dispensaries who take part will be able to offer marijuana at drastically reduced prices if they accept the CannabisCoin. The shop owner would be required to set aside a predetermined supply of quality herb which is referred to as “CANNdy.” Consumers will be able to buy 1 gram of pot for 1 CannabisCoin. Dispensary owners will likely place some restrictions on how much can be purchased at a time or offer the deals as supplies last. The CannabisCoin will be accepted as full payment for the product. It is a proof-of-work, peer-to-peer open-source currency for easy transactions for medical marijuana dispensaries.
Because a large number of dispensaries in the state already accepted and were familiar with CannaCoin. The lack of fiat banking systems in place for these stores meant CCN appeared to have a chance. To check CannabisCoin’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page.