DigiByte Continues Climbing In Value
DigiByte is holding its own in terms of value despite the current slide of other coins on the market. As the market continues experiencing its general bearish attitude and coin prices are dropping, DigiByte bounced upwards once again, gaining three percent in value and totaling at $0.03.
As DigiByte proceeds with its climb in value, many wonder if the bullish trend of the cryptocurrency will keep going. As it stands, DGB coins are displaying nothing but positive results, although some think that DGB will join its declining cousins on the market due to the uncertainty in its gaining values. Speculations are attributed to the fact that DGB trades on incredibly low volumes.
Its project is gathering even more followers, as the release of their Android application has broken charts on Google Play Store and is resting among the highest rated apps on the online store. DGB users have explained that for a cheap currency to see momentary heights in its value is not new.
DigiByte plans on joining the Binance framework as part of its listing, intent on trading DGB with other currencies on the exchange, although DGB may find fewer pairings given its relatively low price and may not even qualify for listing on Binance.
Binance is connected to temporary boosts in price for any currency on its network. While these prices skyrocket, their momentary climb often results in a huge drop in value. One Twitter user explained that DGB asset owners who haven’t cashed in on the spike in price are missing out on an opportunity to turn their DGB into profit, explaining that its rapid climb in price will result in an equally fast drop.
Social media is also contributing to the hype surround DGB. Given the spike in price and related situations, DGB purchases are seeing increases unlike any other due to “panic” buying. As of now, the continued DGB climb does not seem to have a longer life-span.
If the bullish trend towards DGB continues, some believe the coin will earn its place among major currencies. Abra, an application for digital asset management, may possibly introduce the ability to withdraw DGB as all coins are protected by digital contracts to ensure their protection.