DigiByte (DGB) Touches a New Milestone

With many investors, investing in digital currencies, cryptocurrency has become the talking point at the moment. On the onset of the crypto craze that has taken the Internet by storm, almost every field is experimenting with blockchain technology. Among the most successful currencies in the crypto verse, DigiByte has made a special place in the community for its refreshing vision and unique features. This notable cryptocurrency, which adheres to the popular adage “do good, do well”, stands out from its peers in terms of its technology and principles. If you are not aware of the recent ByteCoin hype, here’s the gist of its recent upsurge.

DigiByte (DGB): A Rising Digital Currency:

Operational since 2014, DigiByte (DGB) is a renowned virtual token catering to the DigiByte blockchain. Although DigiByte has been inspired by Bitcoin, the token boasts a number of interesting functions, including 15-second block time and advanced security protocols. The digital token, which was first mined on January 10, 2014, has come a long way from its formative days. The brain behind this rising digital currency, Jared Tate revealed that the blockchain aims to deliver a high-speed and protected virtual token that will cater to a broader audience. Supported by dual bands of developers, including pre-miners and adopters, DigiByte is a one-of-its-kind blockchain technology which is widely deployed by other decentralized systems.

DigiByte (DGB) Touches the $0.04 Mark:

As per the price movement of this currency, DigiByte has recently touched $0.04 level, which is a landmark for this currency. As of April 27, 2018, the price has moved up by 17.79%. Trading at $0.043312 at the time of writing, ByteCoin’s market capitalization stands at $440,586,170. Following the price hike, the trading volume of DigiByte has also witnessed a steady rise. With a circulating supply of 10,172,475,033 DGB tokens, the trading volume of the coin is tantamount to $18,231,300 at the time of writing.

Abra Adds DigiByte to Its Wallet:

The upsurge of this popular altcoin can be traced back to its recent developments. A few weeks back, DigiByte has made headlines; DigiByte, along with some of the major currencies like Stellar (XLM) and Bitcoin Gold (BTG), was added to the popular global digital wallet app, Abra. The app, which allows users to buy/sell up to twenty different digital currencies and fifty fiat currencies, will now accept DGB.

To add digital assets to a wallet, users will need to register with Abra. After opening an account with them, the users can buy virtual currencies using a bank account. Conveniently enough, Abra is the first wallet to accommodate both an exchange and a digital wallet.

Some of the renowned names associated with Abra include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), Litecoin (LTC), Dash (DASH), Dogecoin (DOGE), Golem (GNT), OmiseGO (OMG), Vertcoin (VTC), and Zcash (ZEC). Bill Barhydt, the CEO and founder of Abra said:

“Since launching the new version of our app in March, we’ve seen a tremendous amount of interest and support for the altcoins we added to our platform.”

DigiByte’s (DGB) Market Response:

DigiByte’s market response has been phenomenal this month. The coin, which experienced a steady rise in the past few weeks, has turned to green. With the cryptocurrency market recovering from a severe price slump, investors are flocking to altcoins. With many prominent currencies overcoming from a major downtrend, DigiByte seems to outpace its peers to feature among the top gainers. Conceived as a proof-of-work (PoW) coin, DigiByte has made a smashing comeback with 17.79% gain on major international exchanges. Going by the historical data, this big mover has seen a steady move of 8.52% over the last two days. As per the records, there has been a movement of 9.44% in the price of DGB over the last 7days.

Final Thoughts:

Altcoins like DigiByte cannot be always purchased with USD. Investors seeking to buy DGB need to fetch BTC and ETH from sources like Coinbase and GDAX which accept USD trading pairs. When compared to some of the bigger coins, DigiByte is recognized for its lightning fast speed. Statistically speaking, DigiByte blocks are mined every 15 seconds, a speed which is 40 times faster than Bitcoin. As opposed to Bitcoin and Litecoin, which have just one algorithm, DGB has 5 mining algorithm, protecting it from potential attacks. The currency, which boasts expeditious transaction speed, is acknowledged as a secure and the most decentralized blockchain in the crypto space.

As evident from the recent upsurge of DigiByte, this rising cryptocurrency is ready to surprise its investors with a positive response. Although it’s hard to determine the fate of the currency, traders can expect some exciting development in the coming months. Leading the price rally with a ravishing 17.79% gain, the $0.04 milestone signals a beginning of a new chapter for DigiByte.

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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 and read our full disclaimer.

Image courtesy of Tim Green via Flickr