After a free fall that saw it drop below 40 on coin market cap, Digibyte has recovered most of its losses. It has climbed a few positions and it now ranks 36th. Compared to the percentage gains of the other coins that rank between 30th and 40th, Digibyte (DGB) is gaining faster, second only to Zilliqa (ZIL).
This means that it could break into the top 30s in the near term. Market cap rankings do matter because they create visibility in the market, and this helps drive investor interest. In essence, the higher Digibyte (DGB) ranks on coin market cap, the more exponentially it stands to grow in the next bull market. With more visibility, Digibyte (DGB) has the potential to grow to over $1 in the next 3 to 5 years. It has the fundamentals to drive it to such a level in the next 5 years.
One of Digibyte’s core fundamentals that gives it good prospects in the future is that it fully decentralized. The idea of cryptocurrencies from the get go was to have decentralized money that is uncensorable and trustless. Digibyte is one of the few cryptos that adhere to this principle. While decentralization doesn’t appear to matter for investors looking to make quick money in crypto, it will start to matter going forward. That’s because, this crypto bear has exposed most centralized tokens as having no intrinsic value. Most of them are money grabs that don’t have any real use case, other than making the founders wealthy, and may never recover from this bear run.
As investors begin to appreciate this aspect to the market, money will flow more into real cryptocurrencies, simply because they are safer. For a coin like Digibyte, for instance, it doesn’t matter how beat up it is at the moment. Once you own it, it’s yours. There is no central entity that can fold up and take down your investment with it.
Over time, the concentration of money in real cryptos for their safety aspect will play a significant role in pushing up the value of Digibyte (DGB). It’s just like it happened in the dot com bubble. At the peak of the bubble, there were lots of worthless projects filling up the tech space of the stock markets. Once the bubble popped, and fundamentals became the real driver for value, money started flowing into useful projects such as Amazon. Today, it is one of the wealthiest and most powerful companies in the world.
Besides, decentralization, Digibyte (DGB) is actually a very useful project. Digibyte’s use cases spans across markets. It has a use case in markets as diverse as payments to cybersecurity. All these are high growth markets where Digibyte (DGB) stands a good chance to grow.
For instance, cybersecurity is a multibillion market, and one where Digibyte (DGB) is well positioned to dominate. It’s well positioned because the Digibyte blockchain is unbreakable with a 51% attack. This makes Digibyte products like Digi-ID very attractive in cybersecurity because they are anchored on the unbreakable Digibyte blockchain.