I just don't understand it. Back when Darksend was practically useless, the price was over $15 (.028 was the all-time-high I believe). Now that we have a fully functioning, fully anonymizing product, it's practically worthless.....I honestly don't get it
Let me help.
In the crypto-economy, everything is speculation because there is no market for actually *using* the money (except possibly Bitcoin if you're buying something from Overstock or Dell).
When a new coin looks like it has the makings of "the next great thing", it creates a massive speculative bubble - not because it has strong fundamentals but because there's a good chance of a huge number of traders targeting it for a "pump". In some cases, that drives the price to an all time high which is many times its regular tradable value.
Once the "pump" is over, the market won't touch it to any large extent because it is now seen as a "post-pump" phase coin. There's far too much risk in investing in such coins because it's never likely to see its all-time high again, having priced everything in that could possibly happen the first time around. If the so called "fundamentals" ever do kick in again to such an extent that it becomes a long term success, there's all the time in the world to grab a handful (which is all you need for "insurance purposes"). But as a short term BTC earner in another "pump" style accumulation phase it's seen as useless, having already been raped of its value the first time around.
The only coin I've seen defy this pattern is NXT. It has - on at least 2 occasions since its first all time high breached it after having been dumped the first time. The last one was because of a "perfect storm" confluence of a technical milestone being reached (asset exchange) plus the prospect of a new retail gateway. Both of these things would have actually promoteg widespread utilisation of the currency as opposed to just holding for holding's sake, so the revaluation was merited.
DRK's price is currently reflects that it is seen as a white elephant asset. i.e.
- not used for anything
- limited speculative value
So called "fundamentals" are unlikely to change that unless they look like causing a major change in adoption. Obviously, we all hope that that will eventually happen, but it's not looking like exactly "round the corner" which is why the markets are not showing any urgency.