Over the past one week, DigiByte is the coin everyone is talking about. The prices and volumes of Digibyte have just seen spurts over past week moving the coin to 34th Largest cryptocurrency by Market Cap ahead of notable coins like Verge, Augur, Maker, Steem, and PundiX.
Is UTRUST and other listings responsible for skyrocketing prices
While the market was severely spiraling downwards against the dollar with some rise here and there, Digibyte was one of the rare large coins bucking the reds. It grew nearly 50% against the USD moving from 0.027795 on July 3, 2018, to 0.04129. What was astonishing is the 24 hrs volume gain that skyrocketed to 19,414,800 on July 8 from 2,067,860 on July 5, which is somewhere close to its average volume if this spurt is not considered.
What makes the latest gain more than exciting, although the sentiment in the market seems to be positive, is the fact that the time of the latest gain matches the time when the UTRUST integration was officially announced and confirmed.
Integrations, New listings, and partnerships are one of the important milestones in the “life” of a currency and blockchain startup, so each even like that counts as crucial part of the further development and adoption of the given digital asset. This is exactly what looks like to have happened with Digibyte. This theory proves that the UTRUST integration was the event that set off the boost for DGB, complimenting the gains that DigiByte (DGB) has collected over the last week.
UTRUST recently had added PundiX (NPXS) to their platform, which also saw similar price rises around its integration taking the token to top 40 cryptocurrencies by Market Cap.
UTRUST is known as a payment platform specialized in cryptocurrencies, allowing its users to directly exchange their cryptos for fiat values. The platform seems to be more than a trusted home of crypto-fiat direct exchange
Another such integration of DGB was Coinome, which is a cryptocurrency exchange based in India, has announced new trading pairs for XRP, adding DGB as one of the pairs for Ripple, that way also consequently increasing its accessibility and exposure in the market.
DigiByte marketing manager, Rudy Bouwman was quoted as saying with respect to the UTRUST integration:
“We’re excited by the prospect of working with UTRUST and getting DigiByte to be your payment processing solution; this would allow us to grow organically and attract more interest as an open source solution. We hope not only to create a robust decentralized public blockchain but to change the world for the better.”
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Digibyte looks a formidable coin to sustain
Digibyte has been constantly working on innovations, and improvements trying to complete its milestones step by step. While the progress seems promising, they still have some significant milestones as a part of their roadmap, waiting to be completed.
The company has also recently announced that DGB miners are now welcome to start mining DigiByte having AMD and NVIDIA GPUs now supported with the renewed requirements for mining of this digital asset. DigiByte is implementing DGB adoption with some promising partnerships that would bring DGB closer to its real-time usage. If all goes to plan and timelines, very soon one could see the price of DGB skyrocketing above its all-time high and straight towards a symbolic value of USD 1.
Will Digibyte continue to deliver? Will Digibyte be a coin one should stay invested in? Do let us know your views on the same.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.