Digibyte (DGB) is the best proof of the irrationality of crypto market as the price and fundamentals go in the opposite directions
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.
They recently announced that the network will become ASIC-resistant and alongside that , it will increase the decentralization of its network as well. In the announcement, the platform stated,
“We are proud to announce we are testing the next generation of #blockhcain mining technology. Imagine a mining algorithm that recreates itself every 10 days? No #ASIC could ever be created for. True #Decentralized #ProofOfWork #CyberSecurity.”
Digibyte plans to built a constantly changing algorithm for which no ASIC can be created. The algorithm is set to change every 10 days so that no specialized ASIC can be created to mine the blockchain.
DGB Price
It doesn’t look too good on this front for Digibyte as charts show a further price collapse, it seems to be heading to the sub 200 satoshi depths. The price has been sinking for months and since it broke all of its supports above 300 satoshis, it bodes bad for the holders, at least in the short-term.
Digibyte is a further proof of the irrationality that dominates the crypto markets – this was no scammy ICO, it has one of the strongest technical foundations, it is fully decentralized, fast, safe and yet it is far out of the ranks of top cryptocurrencies, it is not listed on two major exchange (Coinbase and Binance) and has an almost non-existent media coverage.
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However, if the holders are patient enough, it could pay off with the next bull run once the market goes through this bear cleanse where more and more shitcoins are eliminated from the crypto world.
$DGB #DIGIBYTE daily chart showing at this rate of collapse it will be a sub penny coin by end of year! pic.twitter.com/95LndOT2Uz
— @CryptoChartsJoe (@CryptoChartsJoe) November 12, 2018
DGB recently was added on Trezor Model T wallet which added another layer of security to the cryptocurrency. The cryptocurrency also got listed on Bitfinex and the only big exchange missing DGB left is Binance. Jared Tate tweeted that DigiByte won’t pay the “listing fees” for Binance and therefore the coin was omitted from the world’s largest exchange by trading volume. He said that Binance asked to pay a bribe to list DGB on the exchange. Tate went on to say that he was ‘told’ that the exchange will consider listing DGB if he apologizes to Chanpeng Zhao, the CEO of Binance, for refusing to pay a bribe.
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.
