Digibyte investors haven’t had a good time it is up to this point. That’s because, this crypto lost not just in value, but it was quickly sliding down market cap rankings for the last few months. However, things are looking up again. Today, Digibyte has shot up by over 10% and it has jumped from 54th to 51st in market cap rankings.
It is one of the altcoins that are performing so well today. While it could turn out to be a force breakout, especially if Bitcoin hits resistance at $8000 – $8100, it still points to the fact if the market continues gaining bullish momentum, DGB could rally significantly. It’s a ray of hope for those who have invested heavily in Digibyte (DGB) and are aiming for significant gains in the future.
This potential to rally could also see Digibyte (DGB) draw in new money, and drive up adoption of its core features. That’s because, it’s only when Digibyte (DGB) is popular that adoption will come. People always tend to gravitate towards what’s popular, and that includes technology. That’s why hype that pushes Digibyte higher market cap rankings and makes the DGB tech more visible is important.
It lowers the risk of Digibyte (DGB) being relegated to a small niche tech, while inferior tech goes mainstream. It’s an interconnected chain, where hype leads to more visibility, and visibility opens up new avenues for the adoption of Digibyte (DGB).
The best part is that, Digibyte (DGB) has the tech to match it up, when visibility increases in the market. For instance, its DigiID feature can now be used to log into any website thanks to AntumID. With a higher ranking and well performing Digibyte (DGB), more people would get to know about DigiID and start using it.
This would significantly increase the number of people participating in the Digibyte ecosystem, and that’s great for its long-term value growth. Digibyte is also angling for the digital assets issuance space with products like Vesti. Again for this to gain traction, Digibyte would need to be ranking much higher, for it to be more visible to people issuing digital assets. As such, the fact that Digibyte is showing good signs of upside potential is good for its long-term value growth as well.
In essence, anyone holding Digibyte (DGB) can rest easy in the knowledge that they are holding a valuable asset. It holds lots of potential for growth now that bulls are back in the market. From a purely monetary perspective, it’s one of the altcoins that could still give good returns to those who have missed the Bitcoin (BTC) train. For instance, $1000 worth of Digibyte (DGB) could give a significant return on investment if Digibyte (DGB) retests its all-time highs in a bullish market. The same amount would not yield much in gains if Bitcoin pushes back to $20k. It’s definitely a bright future ahead for DGB investors.