One of the few alt coins that is making a hard stand during this latest BTC run up. Reddcoin is holding its own and alt coin holders are flocking to withstand the latest pull back.
What is ReddCoin?
Reddcoin has a focus on social media, which today is a $8.5 billion dollar industry according to Business Insider: http://www.businessinsider.com/social-media-advertising-industry-growth-2014-9
Reddcoin is a tipping platform that allows users to send currency to one another based off of the content they create.
Current Outlook
You've noticed the pullback within the past several hours of almost all alt coins. In particular $XRP and $XVG to name but a few. Both broke their trend lines and are in decline.
Looking at Reddcoin, its one of the few that stayed steady. In fact, its gone up 2%. While alts go down 10,15,20%.. Reddcoin has remained in the black. Crypto holders are always looking for a 'non-declining' coin or one that rises with BTC during the run up..could Redd be it?
Competition
No doubt that Reddcoin has its competition. The most popular being Steemit. Reddcoin's market cap is 1/4 of Steem currently but the cost of 1 RDD is only .01 compared to a Steem coin at $5.50 as of this writing. Reddcoin is also more stable, which is plus in a crazy world of high swinging cryptocurrency prices.
There are also on-going talks with Reddcoin and high profile sites that could lead to an increase in price over the next several weeks, but it will not reach the Steemit price of $5.00 anytime soon. (Think content sites such as Flickr for tipping user generated photos or Medium for content thats created by writers).
I would set a price target of .6 cents within the next several weeks. I'll revisit Redd within the next 60 days to follow up.
73 satoshis at the time of this writing... hits 108 in a few hours. Sending myself some Steem. Thank you. You're welcome.