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DeSci’s Healthcare Breakthroughs: Are We Closer to Cures?

DeSci’s Healthcare Breakthroughs: Are We Closer to Cures?

CoineditionCoinedition2024/08/29 16:00
By:Anisha Pandey
  • DeSci tokens collapsed in the past 24 hours amid a broader market slump.
  • The total DeSci market valuation stands at $368 million. 
  • OriginTrail (TRAC) is the token with the highest market cap in the sector at $224 million.

Decentralized science (DeSci), with a total market capitalization of $368 million is facing a market slump, lately. This is a niche sector that is focused on using blockchain technology for open, incentivized, and community-driven scientific research.

OriginTrail (TRAC) leads the sector with a valuation of $224 million. Other top DeSci coins include Hippocrat (HPO), Dynex (DNX), Research Coin (RSC), and Galeon (GALEON).

The broader crypto market also witnessed the slump with Bitcoin (BTC) not being able to reclaim the $60,000 price level and is trading at $59,000 at the time of documentation.

TRAC, ranked 186th-largest altcoin in the digital asset space and currently trading at a price tag of $0.5513, is down 4.37% in the past 24 hours. The token is 5.85% in the past week, 19.75% in the last 30 days, but is up 134.59% since August 2023.

Other cryptocurrencies in the DeSci sector also turned bearish. HPO was down 6.54% in the past seven days and was trading at $0.05232; DNX was down 3.78% and is trading at $0.3656; RSC dropped 3.77% and was priced at $0.3241; and GALEON was valued at $0.0161 per coin, at the time of writing. 

Coinbase explained in a blog post that DeSci projects use decentralization to create and distribute knowledge and redistribute research funding through decentralized autonomous structures. They aim to ensure the integrity and immutability of scientific records while eliminating barriers to entry.

OriginTrail, the top DeSci token, is focused on addressing the issues of misinformation in the artificial intelligence era and uses blockchain technology to validate the originality of data. On the other hand, HPO is working in the healthcare field and offers digital-healthcare services solving unmet needs of people.

Using Proof-of-Useful-Work (PoUW), DNX offers its services in the quantum computing sector while RSC aims to fasten the pace with which research in the science field is progressing. Finally, GALEON is an AI-powered healthcare community, focused on empowering researchers and patients.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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