Whether you are into cryptocurrencies or not, one thing is for sure, you are getting to know what is happening in the digital market curtsey of the Bitcoin fluctuations. However, DigixDAO (DGD) is transforming the market and change the uncertainty. Over the last few days, DGD has proved to be an asset to invest in.
No investor or developer anticipated the current market slide and DigixDAO seems to be a safe haven for all. One of the factors that have kept the price of DGD is its listing on Binance. The exchange has given the coin a boost to wither the fluctuations being witnessed across the cryptocurrency divide and more so, the industry benchmark, BTC.
DigixDAO (DGD) Market Outlook
The beginning of March saw DgixDAO coin DGD hit an all-time high of $553.57 before sliding south. It is currently trading at $260.06 after gaining marginally against the USD with 5.89%. However, during the bear market, this is the only Altcoin that seemed to defy the market gravity. The downtrend might soon come to an end.
With the announcement that Digix Gold tokens are to be released in to the market ready for trading, the coin should offer the investor relieve sooner than the market settles back to stability. This is a move perceived by many in the digital money markets as a positive move towards making DigixDAO a platform and coin to watch in 2018 and beyond.
With the current low volumes, DGD value seems to be getting eroded faster than expected. However, this is not the only coin in the market. The BTC value slide could be a plus in disguise to DGD. The introduction of Digix Gold will mean unlocking new markets and giving investors and added opportunity to stake more.
Already DGX Gold tokens have been created on the Ethereum ecosystem MainNet. With the Gold launch slated for April 8th the regulation requirement is still biting hard thus:
“Due to the regulatory climates in the US, China and Japan, we are unable to make DGX available for users of these citizenships at this point in time,” wrote the organization in a recent blog.
Limited Daily DGX Token Purchases
As a retailer, there will be a limit on the number you can buy in a single day. You can only buy 10 DGX coins that are backed by 10 Gold grams. If you own the old the original DGD coins, they will be swapped after the launch on April 8th. Currently a gram of gold is selling above $400. The coin swap will be done through a consensus process and not every holder will be entitled to the facility.
Linking the value of the tokens to the price of gold is a surefire way of adding stability to theDigixDAO (DGD). This is also an easier way of investing in gold for those investors who previously thought owning gold is a pipe dream.
The beauty of the tokens is that you can use them on any exchange where they are listed as well as using it to purchase from affiliate merchants. If you want to change them into gold, the platform makes the process seamless as well. The platform makes the process easy and you do not have to deal with intermediaries who do not add value in your transactions.
Despite the fact that DigixDAO (DGD) is plummeting, it is one of the best performing Altcoins in the market. For the last eight weeks, every cryptocurrency has tasted the red and DGD is no exception. On average, the coin is doing better and a sure investor bet. There is a lot of anticipation when the DGX tokens are launched and start trading live.