Here Are Today’s ICO Movers: Coindash and Darcrus

We are closing in on the end of the week and it’s been a pretty wild ride in the ICO and token space. A number of tokens have moved considerably – some with valid reasons behind their movements and some slightly more dubious – and we’ve tried to track the biggest movers along the way in an attempt to figure out why the tokens in question are moving and – ultimately – what’s next for each.

We’re midway through the US session on Thursday, so here’s a look at two of the biggest movers over the last 24 hours with an analysis in line with the above questions – what’s moving the token and what’s next.

So, the two tokens in our crosshairs right now are Coindash (CDT) and Darcrus (DAR).

Let’s start with CDT.

Anyone familiar with this space will know that this one is something of a controversial play. The company conducted its ICO back in July and fell foul of a hacker, who changed the address to which participants were required to send ETH. In total participants sent $7 million in ETH to the hacker’s address instead of that of Coindash.

Anyway, that’s somewhat in the rearview right now and markets are able to focus on the company’s operations as indicative of CDTs inherent value as opposed to the implications of the hack.

That’s good news for the company and it’s paying off – over the last 24 hours, Coindash is up 35% and it’s up 15% since last month. Right now, CDT trades for $0.044, up from its ICO price of $0.031.

So what’s causing the run?

Well, as we’ve seen a couple of times this week, the primary driver behind the run is company’s announcement that CDT is now listed on another major exchange – in this instance, Binance.

When it comes to price, liquidity plays a key role in these tokens and – as such – the more exchanges that list a token, the higher it generally goes on the back of the improved liquidity position.

There’s a good chance we will see this token continue to appreciate moving forward, especially near term (i.e. into the close of this week), as more participants flow to the token on the back of increased and simplified access.

Management over at Coindash just published a fresh roadmap that outlines strategy over the coming twelve months, so that added clarity is also likely serving to lift sentiment a little on the wider markets.

Moving on, let’s get to Darcrus.

This is actually one we covered earlier in the week, with the token having picked up some real strength during the session on Monday and Tuesday on the back of some fresh media coverage.

Fast forward to today and we are seeing a replica of the action. Right now, Darcrus is up 21% on the last 24 hours and up a whopping 45% since last week.

So what’s driving the action this time?

You guessed it – a fresh exchange listing. This week, the company has announced that its token is now available to buy and sell over an exchange called UPbit, which while not one of the major exchanges, adds to a couple of other early week developments to compound the recently seen positive sentiment and to – in turn – keep this stock running.

When it comes to forward action, we’re not quite so optimistic on this one. At least not very near term. There’s a good chance we will see some degree of near-term correction as the shorter term operators pull profits out of the market and this will likely translate to some weakness.

When we see the dip, however, it might be a nice opportunity to pick up some tokens cheap ahead of a longer term recovery.

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