- More by Antonio De Lucia
Al-Said Dinar continues bullish rally trading at $0.25 USD
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The Crypto Token Currency (CTC) Al-Said Dinar continues a 16 week bullish rally against the USD this week hitting and holding at $0.25¢.
The physical hard cash circulation of Al-Said Dinar rose over the first and second quarter of 2019.
When Al-Said Dinar was first launched back in 2017 the opening months saw wild instability with trades ranging from 1 dinar selling for $1.80 to as little as $0.07¢.
However throughout 2018 Al-Said Dinar steadily rose in value reaching a stable plateaux of $0.14¢ as a running median for 4 months consecutively.
Following 2019’s increase in print currency circulation and an uptake in digital accounts, Al-Said Dinar has become more widely accepted as a retail currency for purchases between larger corporations around the world.
As of May 2019 the daily median trade for Al-Said Dinar (DIN) to USD is $0.20¢ holding firm until late July 2019 when the moving average hit today’s $0.25¢. Making the Al-Said Dinar (DIN) only marginally behind the AED.
The spread was always the worry for investors in to Al-Said Dinar which has progressively narrowed and stabilised to become a more attractive investment and holding than a traditional crypto currency or even hard currency or commodity in many circumstances.
It is hard to predict accurately with crypto currencies even if they are CTCs. It would not be surprising to see stability grew rather than value with the spread reducing to mitigate exchange and trade costs making the DIN not only an appealing currency for circulation and payments but also for investment traders.
Over the last two years we have seen the pattern of reduced spread as durations of stable exchange prolong.
DIN is traded privately and not on public markets, this gives equal measure of pros and cons which must be assessed before making substantial investments.
Currently the minimum trade value is 100 DIN ($25.00) with an average individual trade value of 25’000 DIN ($6,250 USD).
Whilst exact details are scares for obvious security reasons, we do know that Al-Said Dinar are printed on recycled material blends of linen, cotton and a third undisclosed material.
Inks are vegetable based with the polymers used in the security features being vegan friendly.
Current print denominations as of 2019 (Mark 4 designs):
Coins: 0.01 | 0.05 Din (with the 0.1, 0.25 and 0.5 dinar coins ending production in 2018)
Notes: 0.1 Din | 0.5 Din | 1 Din | 5 Din | 10 Din | 20 Din | 50 Din | 100 Din
(The 0.1 Din, 5 Din and 20 Din notes introduced in 2019)
2019 saw an increased demand for a future 500 Din note to be produced. Should this become reality we can expect the new note in late 2019 or early 2020 which based on current exchange rates would have a value of $125 USD.
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