Marijuana enthusiasts who invest into cryptocurrencies can enjoy a collective chuckle today as the Cannabis Coin (CANN) has reached the market rank of 420. Initially mocked by many for being a gimmick heavy coin, it looks like Cannabis Coin is indeed moving up the ranks and does have some sort of potential in the years to follow.
Over the past few years there has been a significant rise in cannabis related bitcoins. The most popular names among these coins are those of the Cannabis Coin and Potcoin. However, there are a number of other cryptocurrencies which are specially created for the purchase and sale of marijuana – these currencies include but are not limited to – kushcoin, bongger, ganjacoinpro among many others.
The fact that Cannabis Coin has reached the market rank of 420 is funny as well as mildly interesting as 420 is the internationally accepted code for marijuana. You might often hear it in casual conversations like – ‘it’s the time to 420’, or ‘is it 20th of April yet?’, or ‘Got any of that sweet 420, bro?’.
In the past there has been a lot of criticism regarding Bitcoin, as well as the cryptocurrency markets at large that they have been actively used to trade drugs on the dark web. However, over the past few years, with debates over legalizing marijuana heating up and laws being passed around the world – marijuana related coins have been popping up and have been showing a strong growth.
While Cannabis Coin isn’t really the most popular marijuana related coin out there, other coins such as Pot Coin have shown a strong growth over the past few months. With more voices in the US beginning to support legalization of marijuana across the nation, the support for such coins too rises. Stay tuned with us for more such interesting tidbits in the world of cryptocurrency.