It is another good day for crypto, with most cryptos averaging over 5% for the second day in a role. Bitcoin too has crossed the $4000 mark on some exchanges, an indicator that bullish momentum is on the rise. This also means that it is a great time to scoop up on high value altcoins that are now massively undervalued. Two altcoins that are now heavily undervalued due to this bear run are Litecoin (LTC) and Digibyte (DGB). Both of them have lots of potential. But, between the two, which one is likely to outperform the market this year? Let’s go through their potential bull triggers to determine which of the two is likely to outperform.
Digibyte (DGB) took a massive hit in the 2018 bear run, and is yet to show any signs of major recovery. In fact, even in the latest pump, it hasn’t gained as much as the other major altcoins. This is an indicator that demand is yet to pick up. However, there are upcoming factors that could trigger a Digibyte price run up.
The most important of these is Digiassets. A few days ago, Digibyte announced via twitter that tests for Digiassets were ongoing. This could see the value of Digibyte (DGB) rise significantly this year. That’s because the security and scalability of the Digibyte blockchain could trigger an explosion of security tokens launching on the Digibyte blockchain. That’s a big deal and could see prices of this crypto rise exponentially.
Litecoin (LTC) has been one of the biggest gainers this year. It pumped hard a week ago, and has made impressive gains in the latest pump. At the time of writing, Litecoin (LTC) is up by over 5%. If this pump sustains, Litecoin (LTC) has a good chance of making significant gains. It has a number of fundamentals supporting its potential rise too. One of the biggest ones is the upcoming halving in August.
This will increase the mining difficulty, and affect the supply and demand dynamics of Litecoin (LTC). The result could be a significant increase in price. Besides, as the halving date approaches, investors anticipating a pump could FOMO into LTC and drive up its price. Already talk of Litecoin (LTC) rising due to the halving is rife in crypto space. This is an early indicator that by August, it could turn into full blown FOMO. There is also the exponential growth of the Litecoin Lightning Network, which is an indicator of Litecoin’s growing acceptance and adoption. This is a major confidence boost for investors.
Based on the two cryptos’ fundamentals, Litecoin (LTC) holds better prospects this year. It is better-known and the upcoming halving has the potential to create huge excitement in LTC. Digibyte (DGB)’s news are still far off, since there is no specific date when Digiassets will go live, and this could affect DGB’s capacity to pump, when compared to Litecoin (LTC). Nonetheless, both are great long-term investments.