Both the CBD and cryptocurrency industries have had a wild ride in the past few years. They’ve risen to great heights and sunk to new lows only to recover again. Both industries have had to contend with their own issues. Cryptocurrency has had to deal with the distrust that people who preferred traditional cash transactions had for this new form of currency exchange. While the CBD industry has fought hard for legalization and acceptance by financial institutions as a legal, legitimate industry. As a matter of fact, some traditional financial institutions still do not conduct business with CBD-centered businesses.
It was because of these challenges that both the CBD and Crypto industries work so well together. Cryptocurrency provided an avenue for the CBD industry entrepreneurs to have a legal and secure way of handling the finance side of their business; and the CBD industry has created a new avenue in which crypto investors would invest. This paved the way for the creation of crypto cannabis coins.
Top crypto cannabis coins today
PotCoin was established in January 2014 and is one of the longest-running crypto cannabis coins to date. Fun fact: it launched at 4:20pm and there are currently 420 million PotCoins in circulation.
POT reached the $1 million cap in April 2014 but tanked immediately to $244,000 less than a month later. It looked as if it was staying on a downward trend until NBA legend Dennis Rodman wore a PotCoin.com shirt in a North Korean airport. As of January 2020 POT was priced at $0.0056 and is projected to be at $0.60 by the end of 2022.
CANN has a current market capitalization of $902,277 and is at the 932nd place in the CoinMarketCap ranking. It was established in 2014, a few months after POT and served the same purpose. It was created as a proof-of-work (POW) p2p digital currency, and for a specific strain of cannabis called CANNdy, CANN could be exchanged at 1 CANN coin to 1 gram of medicine. As of 2020, it is priced at $0.01151.
PRG is not a crypto coin but rather a token. It was introduced in July 2017 to address the gaps in the cannabis industry and to stabilize it. It initially was worth $0.75 a coin and had 100 million coins in circulation. Too much hype and over inflation brought, one coin is now worth $0.09 with a market cap of around $608,000.
HempCoin was established in the same year as POT and, as of 2020, is priced at $0.00172 with a market cap of $453,746. It was built to facilitate transactions between farmers, distributors, and consumers of cannabis.
DopeCoin was established in 2014 and was the brainchild of Adam Howell. It functions like a privacy coin and is connected to the Smoke Exchange Platform. It serves as a marketing channel for cannabis advertisers. As of 2020, it is priced at $0.00146 with a market cap of around $183,000.
About the Author:
Heather Smith is the Communications Manager at Sunday Scaries. She’s a composed copywriter and content strategist. She’s also a CBD advocate, promoting a healthy lifestyle free of stress and scaries.