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DigixDAO (DGD): Predicting the Outcome for 2018

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DigixDAO
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DigixDAO (DGD) was brought in a particular focus on February the 2nd when this cryptocurrency was by chance the only digital coin experiencing increases in oppose to other coins having their prices wildly dropping. That is how Ethereum and Bitcoin dropped for 20% and 15% last Friday, while DigixDAO experienced a fantastic increase in price ranging over 50% in only a couple of days. This made us interested in trying to predict what kind of year 2018 will be for DGD.

A couple of words on DGD

Unlike many other tokens that are merely based on taking advantage of blockchain “formula” to get value out of nothing by simply waiting for the investors to get interested, DigixDAO places its value in gold. How come?

The gold market is currently worth 8 trillion dollars, which is a ridiculously high stake without any question. Now, because it is too risky and over-complicated to buy gold as an average person looking to invest money in something, DigixDAO has thought of a protocol that allows you to own 1 gram of 99% of gold help in the Singapore gold vault. We need to stress out the fact that this would only be made possible with having DGX launched. DGX should go hand in hand with DGD, and as such should have the ability to allow all holders to own 1 gram of gold per one unit of DGX, as well as allow all users holding and using DGX to take advantage of smart contracts within the Ethereum.

For now, secure transactions and indirectly owning 1 gram of gold per one unit of DGX, DGD is doing all the work in favor of DigixDAO.

DGD was involved in the first crypto crowdsale on Ethereum that went by as very successful. Apparently, the crowdsale managed to collect over 5 million dollars within a short period. This case conditioned DGD to get a status of a stable coin, which is probably the reason why DGD stayed immune to all decreases that all major coins went through in the past couple of weeks.

Where is DGD at now?

Not only that DigixDAO managed to stay safe from suffering from any decreases, even the slightest, but this cryptocurrency also had a major increase that went over 50% within a very short period. This increase led to the flattering price of over 300$. Currently, at the time of the writing and at the same time a week later since the original increase, DGD had a minor decrease of -2.9%. This decrease led to a current price of 291$ per one coin.

Although the combo of increases was broken with this nearly 3% of decrease, DGD is still on top of its game, having 2018 be the It year for DGD.

In case DGD would continue with performing as well as it is now, we can easily see this coin tightly running with Ethereum when it comes to price, although DGD has the 37th spot on the global coin list while Ethereum is holding the second place for quite some time now.

Ethereum and DGD are not competing of course – that would be ridiculous as Ethereum was in the first place responsible for the major success DGD made when it was first being sold on crowdsale. The mere fact that a large decentralized network such as Ethereum was eager to promote a small coin was one reason enough to sold 5 million dollars worth of DGD. Since Ethereum has the idea of creating a perfect economy ecosystem that allows easy transactions, stable value, and cost-effective purchases, DGD should help ETH achieve this idea by supporting DGX – a sibling token of DGD that should represent a stable value due to its close connection to gold. It is needless to say that this may be the number one reason why DGD remained stable even when ETH wasn’t able to.

What Is More Likely to Happen with DGD in 2018?

To be able to determine how well will DGD be doing in 2018, all investors should be keeping a close eye on gold and the way gold is performing. Since DGD was made to support investing in gold as an on-chain crowdsale, gold is the starting point of predicting how well will DGD do in the following months.

If we get back to the beginning of 2018, DGD was worth over 400$ per one unit, which made it one of the most interesting coins on the market. But, only a month later, its price fell to as low as 160$ per one coin. This decrease represented a major change that wasn’t viewed upon with approbation. However, during February the 2nd, this token had a major increase of 50% when all other coins were dropping with prices, which made holders restore their faith in DGD, also inviting new investors to join the DigixDAO and Ethereum community.

The initial decrease that occurred a day ago, on February 8th, reminded us that there is no such thing as a fully immune coin as all coins may drop right after the experienced increase, regardless of how high the changes in price are in the 24-hour volume.

Since the latest decrease didn’t go over 3%, there is still hope that DGD will remain as stable as possible during the following months. In case DGD would go through at least a couple for more increases in the similar or the same range as the last massive increase, there is no doubt that this token would then be directly competing with Bitcoin and Ethereum.

If you add the fact that gold is one of the most stable values there is and that DGD with the announced DGX is closely related to it, there is no doubt that DGD could end up as a huge success in the world of crypto values.

We will be updating our subscribers as soon as we know more. For the latest updates on DGD, 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 coinmarketcap.com

Blogs

Is Tether (USDT) really a stable coin?

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Tether
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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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Blogs

TRON Partnership Involves Cloud Computing

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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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Bitcoin

Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?

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Ripple
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Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.

It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.

The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.

China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.

Furthermore, the country has adopted several…

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