The cryptocurrency market is filled with many cryptocurrencies, and while most new traders focus on the coins listed in the top 50 list, there are other coins ranking low in market capitalisation that also make worthy investments. Unlike many traders believe, some cryptocurrencies that rank below the top 100 list have actual use cases, making them ideal investments for those who want to invest in a coin with technological backing.
The DENT coin is among the coins that rank low in market cap, but unlike many others in that category, its network has an actual use case, making it an ideal investment option. However, many investors do not actually know about this coin or about the benefits that its technology offers to both the real world and the blockchain space.
What is DENT Coin?
The DENT coin ranks as the 126th largest one in the crypto space, with over $660 million market capitalisation. At the time of writing, this coin was trading at around $0.006738. The coin also has trading volumes of over $200 million, according to CoinMarketCap. This shows that despite ranking low in terms of market cap, the coin still has a lot of traders who are buying and selling.
Over the past month, DENT has gained in value by around 37%. These gains coincide with the bull market that happened in the crypto space. Hence, it shows that, like most of the authentic coins in the market, it can respond to the changes that happen in the broader crypto space.
The company’s whitepaper states that the maximum supply of DENT coins come in at 100 billion coins. Currently, the circulating supply of these coins is around 93 billion tokens, showing that the entire supply is almost available on exchanges. This is a positive outlook on future prices because it eliminates the probability of inflation, which could negatively affect the prices of cryptocurrencies.
The company held an initial coin offering when the token was launched into the market. During the ICO, 8.6 billion DENT tokens were sold at a fixed price of $0.0005 per token. 30% of the entire DENT token supply was retained by the company to make strategic acquisitions and for other purposes such as market seeding, user incentives, paying salaries, and bonuses.
70% of the remaining supply was released into the market during a series of pre-sale and sale events. Any outstanding tokens that were not released to the circulating supply or used for the company’s operations were locked. These were to be released quarterly.
The comprehensive details over which the company organised how the tokens would be released into the market shed a positive light on the project’s viability. Moreover, market analysts state that projects with a whitepaper and a roadmap regarding token supply are more authentic investments. Evaluating the authenticity of a project is critical in the crypto space, as it is filled with thousands of cryptocurrencies, where the majority has no real use cases.
History of the DENT Network
As aforementioned, the DENT network is among the oldest ones in the crypto space. The network was launched in 2017. Its founders are Tero Katajainen, who is currently the CEO of DENT Wireless. Katajainen is a technology graduate and a java programmer. In 2003, he founded Pocket Indian Software Solutions. He also worked with the United Nations in 2015 as a senior java consultant.
The other founder of DENT is Mikko Linnamaki. Linnamaki is an entrepreneur and businessman. He has run five successful businesses before settling on DENT. Some of the most successful projects that h has worked with include SmartSeed GmbH. Besides being a co-founder for DENT, he has also worked in creating DEVCOT, one of the biggest open-source IMAP servers globally.
As aforementioned, the DENT network was launched in 2017. The purpose of this network is to solve some of the major issues faced by mobile operators. To increase the efficiency surrounding this sector, the network offers a revolutionary approach to mobile operations.
DENT Wireless offers access to eSIM cards, mobile data plans, top-ups for call minutes and a roaming-free experience. The company’s website states that it leverages blockchain technology to develop a global marketplace that will be used for mobile data liberalisation.
The company’s website and whitepaper show an ambitious roadmap for the future and details of how it will achieve its objectives. The company states that by the end of 2021, it will have expanded its services to new markets and attracted new users.
DENT Wireless already has a large user base, just like it has been experienced by blockchain networks that seek to solve basic problems in the real world. The company already has a large user base of over 25 million mobile users. DENT wireless services are also available in over 140 countries.
One of the factors that carry weight regarding the viability of a project is the number of strategic partnerships that it has acquired in the market. Some of the entrepreneurial partnerships that the network has bagged over the years include Samsung Blockchain, Telecom Infra and The Enterprise Ethereum Alliance.
DENT Network Use Cases
DENT is a network that seeks to solve the issues present in mobile communications and data services. It is a revolutionary player in this sector, given that half of the world’s population relies on mobile services. However, despite the overdependence on this sector, there are still issues that need to be solved, including the high prices charged by traditional mobile carriers.
The DENT network seeks to use blockchain technology to solve some of these issues and ensure that mobile airtime and data are easily available globally at lower costs and more efficiently.
DENT also brings efficiency to mobile data because it removes the limitation of data being focused on one location by being a global mobile operator. It also removes additional charges such as roaming fees and allows users to choose international mobile plans.
Its mobile operations are where the use cases for the DENT tokens come in. Everything offered by the DENT network is purchased using DENT tokens. This allows transactions to be recorded on the blockchain, giving customers an authentic and genuine platform where they can buy data and airtime.
Is DENT a Good Investment?
The DENT token makes for one of the best investments in the crypto space. Several reasons make it stand out among other tokens below the top 100 ranking by market cap.
As seen above, it has real use cases because mobile operators who want to leverage the advantages of the DENT Wireless network use the DENT tokens to make purchases. Besides, its technological backing also makes it a viable project in the market, reducing the chance of it being a rug pull.
Projects that have real use cases are believed to be the ones that will emerge as winners in the future because they will manage to withstand any changes in the crypto space.
The other reason this project is a good investment is that it is among the oldest tokens and networks in the market. Being around for long also adds to the token’s authenticity, making it a safe and good investment.