Dubai’s first cryptocurrency, DubaiCoin, has risen over 1000% since its debut in one day

Dubai’s first cryptocurrency, DubaiCoin, has risen over 1000% since its debut in one day

Dubai’s first cryptocurrency, DubaiCoin, has risen over 1000% since its debut in one day

The city of Dubai has launched its first cryptocurrency named Dubaicoin. DubaiCoin is based on a public blockchain. The price of DubaiCoin has gained 1,000 percent in just 24 hours.  The cryptocurrency is currently being traded on select exchanges.

The information available on has shown that the DubaiCoin has been trading at roughly $0.17 but then it rose to $1.13 on 27 May. The cryptocurrency has been launched by the UAE- based company Arbaianchain Technology. The company has claimed that DubaiCion is the first public blockchain-based cryptocurrency in the Arabic World. It has been also said to the people by the Arabianchain Technology that they soon will be able to use DubaiCoin for purchasing the Products and Services, both online and offline.

The company statement says “Circulation of the new digital currency will be controlled by both the city itself and authorized brokers.”

Dubaicoin is going to work unlike how other cryptocurrencies work. As the mining of digital currency increases, it will be going to lead to higher volatility like all other cryptos.



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