Despite the strong increase, this is a cryptocurrency that is not recognized by the Dubai government. Currently, the price of this coin has reached 0 USD.
United Arab Emirates (UAE)-based company Arabianchain Technology has just released the “first in the Arab world” public blockchain-based cryptocurrency called DubaiCoin.
According to the Businesstoday , immediately after appearing on several exchanges, the price of this cryptocurrency increased by 1,000% in just 24 hours. From around 0.17 USD per coin, the price of DubaiCoin increased to 1.13 USD on May 27. The developer claims that DubaiCoin will soon be used in a series of product and service transactions both offline and online, replacing traditional fiat currencies. Currently, the value of DubaiCoin has reached 0 USD after the Dubai government announced that this digital currency has not been approved by any authority. 
DubaiCoin rapidly increased in price after its launch. Photo: Businesstoday. Not too long ago, an emerging coin that also caught the eye was Polygon from India. The famous “shark” billionaire on the show Shark Tank, Mark Cuban, has publicly supported and invested in this cryptocurrency. Currently, Polygon’s market capitalization is over 10 billion USD and is among the 20 largest cryptocurrencies in the world. On May 28, the cryptocurrency market showed signs of recovery. Bitcoin was trading at above $38,000/BTC at around 9am. This coin has still not been able to surpass the $ 40,000 mark in the context of China’s strict policies on mining and trading in coins. Since mid-April until now, the Bitcoin price has dropped by about 30% due to China’s policy and Elon Musk’s open tweets. The owner of the net shop unplugs the machine, digs coins and waits for the translation to end Due to the impact of the Covid-19 epidemic, Mr. Nguyen Minh Quan (Thu Duc City) had to close the net shop, remove the graphics card to dig coins, earn extra income waiting for the reopening of the shop. Businesstoday
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