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DigiByte (DGB) Just Got A Major Market Boost

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Take a look at the daily chart for DigiByte (DGB) and you’d be forgiven for thinking that the coin is in some real trouble right now. At the most recent listing, DGB went for in and around $0.03 a piece, putting it at 58th by market capitalization in the cryptocurrency and token world and serving up a market cap of juts under $301 million.

DGB Daily Chart

DGB Daily Chart

Compare this to the $0.13 a piece and the market cap of $1.25 billion recorded just a few weeks ago and the in-trouble thesis becomes a little stronger.

Here’s what we think about the situation:

Don’t trust the chart.

This is a coin that’s fallen purely because the wider industry has taken a hit. As the phrase goes, a rising tide helps all boats float and the same is true in reverse – right now, we’re seeing some of the smaller boats sink because the wider cryptocurrency tide is falling.

Heading into the dip, however, DigiByte was really starting to gain some traction.

For anyone that’s not come across this coin before, DigiByte is a transaction focus coin that’s essentially trying to do what bitcoin (BTC) was once pitched as having the potential to do but that now looks like it’s never quite going to achieve – become a seamless transaction-type asset and oust fiat currencies as a value transfer vehicle.

It’s like bitcoin but there are a few built-in differences between that protocol on which bitcoin (and Litecoin) rests and that which powers DGB.

For one, it’s far more scaleable, with up to 2,000 transactions per second possible by 2020. Second, it’s much, much faster than bitcoin, with block times at 15 seconds (as compares to the 10 minutes of bitcoin). It’s also difficulty adjusted in real time, as compares to the two-week delay adjustment built into bitcoin (making it more adaptive) and, finally, there’s a supply cap of 21 billion units, as compares to the 21 million cap for bitcoin.

This makes it far more manageable at scale, in the sense that smaller denomination tokens can be used to facilitate a viable transaction process, as opposed to using three or four decimal place transactions.

All this is great, but it’s nothing new. Why are we going on about DigiByte right now?

Well, here’s the thing.

The company announced at the end of last week that it’s secured a PR company called Tom Cridland Public Relations to help it expand into the mainstream consciousness. The company is set to accept 300,000 DGB (which was committed to the cause by the community, by way of the DigiByte Foundation), in return for its PR services and the deal will start pretty much immediately.

So why is this a big deal?

Until now, DGB has risen in popularity based on internal traction and market attention. It’s not had a company pushing it into the sphere of awareness of both the crypto world and the wider markets – until now.

With this support in place, we expect DigiByte not only to pick up a whole new layer of public market support but that the coin will bring in a wave of speculative demand that’s seeking exposures to those coins that have incredible potential but that are trading down right now on the back of wider market weakness.

Bottom line here is that this coin has done well to get to its current level on its own but that the PR firm should take it to the next level. This would be a buy signal for a coin that wasn’t down 76% over the last few weeks. Combine it with the just mentioned dip and things become even more attractive.

We will be updating our subscribers as soon as we know more. For the latest on DGB, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of DigiByte

Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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