DigiByte’s price action has been rather interesting in the last couple of weeks. After peaking at $0027895 on October 6th, the currency stumbled down to a monthly low of $0.022965 on the 12th. Daily trade volume peaked at just above $6 million during this period. DGB recovered to $0.027873 on the 15th and has been on a downwards path ever since.
One DGB can currently be purchased for $0.021559 USD (-3.60% drop in the last 24 hours)/0.00000342 BTC (-1.38% drop in the last 24 hours). This value is 84.62% lower than the currency’s all time high of $0.141942. Daily trade volume sits at $1,863,004, with Bittrex (28%) Satowallet (11%) and Sistemkoin (11%) responsible for the most of that. With a market cap of $236,838,201, DigiByte is currently the 37th most valuable cryptocurrency on the market.
ForecastCity thinks there is a trading opportunity to buy DGB:
- DigiByte/USDollar is in a range bound and the beginning of uptrend is expected.
- The price is below the 21-Day WEMA which acts as a dynamic resistance.
- The RSI is at 38.
- While the RSI downtrend is not broken, bearish wave in price would continue.
- There is a possibility of temporary retracement to suggested support zone (0.022 to 0.015). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.022)
Ending of entry zone (0.015)”
Check out the complete analysis here.
DigiByte had a couple of interesting releases pop up in the previous weeks. The soft launch of the DigiCafé payment application went live. Being mobile-first, having simple-pass-through and no additional fees are among the main features of the application. Several designs of the project’s DigiAssets (DigiAssets will allow you to easily create, send & receive Digital Assets) project’s logo were suggested. To close things up, the project also released a 1.0.5 update for iOS which includes a couple of new bug fixes. The infrastructure now allows for Android phrases to be restored on iOS, and Digi-ID generations will stay the same.
DigiByte was recently listed on the Artis Turba exchange, where its users are now able to trade DGB/ZAR, DGR/BTC and DGB/ETH pairings. The project will also be the first listing partner of the up-and-coming Extauri exchange. Extauri will offer DGB trading pairs with fiat and crypto.
Project’s Josiah Spackman held a talk titled “The Banking Paradigm Shift of Crypto” where he described how we shouldn’t “give up all of our new-found freedoms with a decentralized and permissionless blockchain, as we move into a new future with cryptocurrencies, just so we can make a quick buck along the way.” This talk was given to the University of Washington Crypto Group via livestream on the 26th of October 2018. Spackman also has a YouTube channel where he host a show called “DigiTalk”; in the latest, 10th episode of the show Spackman went over why you would want to keep the DigiByte Core wallet open, 24/7, and what happens when you do.
At the same time, Steven Kendall published an article titled “Explaining the DigiByte Blockchain and Community to my two Nephews while talking about Steemit and the Steem Blockchain”. Mr. Kendall took it upon himself to educate his two family members on blockchain, DLT’s and crypto and suggested that it’s very important for others to do the same with people in their surroundings that don’t know/could benefit from crypto.
Finally, the main man of the project, Jared Tate, was invited as a speaker to the Texas Bitcoin Conference 2018. The event was held through 27th-28th of October and Tate’s speech can be seen here. As for any upcoming appearances, the cryptocurrency will be present on November 17th during the CryptoFinance’s 2018 Crypto Panel alongside several other crypto greats/up-and-comers, including EOS, Stellar, Nexus, Monero, and Holochain.
DigiByte is widely considered as one of the safest cryptocurrencies out there, in part due to several pieces of crypto technology (like the DigiShield or its 5 mining algorithms) that the project developed and implemented. Its 5 year existence makes it one of the older projects on the market, one that managed to expand to over 200,000 nodes throughout the timeframe. Seemingly focused on the networking aspect at the time, DigiByte keeps moving along the path of achieving wider adoption in the world of crypto.
Despite all of the proven features and products DigiByte has, it is far from being the top 10 cryptocurrencies on the market and hence far from the eyes of the bystanders and people who are only looking the top coins when buying their first crypto. This makes DGB the dark horse of crypto to the joy of those who already know about it.
Join Our Telegram Channel or Follow @CaptainAltcoin
CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.