Islamic Coin ($ISLM)- The New Focus
Islamic Coin (ISLM) is a new cryptocurrency that follows the principles of Islamic finance, such as avoiding interest, speculation, and gambling. $ISLM was launched on October 10, 2023, & Within a month, ISLM reached an all-time high of $0.3601, representing a staggering 3,501% increase in value.
How does this compare to the performance of the two most dominant cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), in their first month of existence?
Bitcoin was created on January 3, 2009, by an anonymous person or group using the pseudonym Satoshi Nakamoto. The first transaction of BTC occurred on January 12, 2009, when Nakamoto sent 10 BTC to a computer programmer named Hal Finney. However, BTC did not have a market price until October 5, 2009, when an exchange rate of 1,309.03 BTC to one US dollar was established by a user on a Bitcoin forum. Based on this rate, the initial price of BTC was $0.00076 per coin. By November 6, 2009, BTC reached a high of $0.0011, which was a 44.74% increase in value.
Ethereum was proposed in late 2013 by a Russian-Canadian programmer named Vitalik Buterin, who envisioned a platform that could support decentralized applications (DApps) and smart contracts. Ethereum conducted a crowdsale in July and August 2014, raising over $18 million worth of BTC. The Ethereum network went live on July 30, 2015, with an initial supply of 72 million ETH. The initial price of ETH was $2.77 per coin, based on the average price of the crowdsale. By August 30, 2015, ETH reached a high of $3.54, which was a 27.80% increase in value.
As we can see, ISLM outperformed both BTC and ETH by a huge margin in its first month of trading. Of course, this comparison is not entirely fair, as the crypto market has evolved significantly since the inception of BTC and ETH, and ISLM benefited from the existing infrastructure, awareness, and demand for digital currencies. Moreover, the price fluctuations of ISLM, as well as BTC and ETH, are influenced by various factors, such as supply and demand, market sentiment, regulation, innovation, competition, and so on.
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Therefore, it is impossible to predict the future performance of any cryptocurrency based on its past performance. However, it is undeniable that ISLM has made a remarkable debut in the crypto space, and has attracted a lot of attention and investment. Whether ISLM can sustain its growth and establish itself as a viable and valuable alternative to the mainstream cryptocurrencies remains to be seen.
References:
(1) Islamic Coin price today, ISLM to USD live price - CMC
(2) Islamic Coin Price: ISLM Live Price Chart & News | Coin {Gecko}
(3) Initial coin offerings (ICOs): Springer.
(4) Ethereum price history Jan 14, 2024 | Statista.
(5) What caused the Bitcoin (BTC) dump post ETF approval? Is it time to -Cryptonews
(6) Bitcoin Price and Ethereum Prediction: Minimal 1% Fluctuations Offer . Cryptonews
(7) Bitcoin’s Wall Street debut triggers volatile impact on futures market. Cryptopolitan
(8) Islamic Coin (ISLM) Price Prediction 2023, 2024, 2025–2030. coincodex
(9) wikipedia
