The crypto market has been filled with red faces in the past 24 hours. Does this mean the end of the bullish run? Well that might be the case for most of the coins but some have defied this market correction. DigixDAO (DGD), popular for its stability, is among the top 50 cryptocurrencies that is currently green having gained 1.46% within the last 24 hours. The DGD crypto gained massively yesterday to record a high of $281 from $251 although the coin later took a deep to currently trade at $262.
DigixDAO has been quite stable in the past week with its price and volume fluctuating between normal ranges. However, with the recent news the coin seems to be proving its fundamental value of being backed by gold. It has been gaining against satoshis by almost 13% within the last 24 hours. This can support the argument that indeed the DigixDAO protocol can survive crypto bubbles due to its stable nature. The DGD protocol leverages the blockchain nature of immutability, transparency & auditability to tokenize gold on the Ethereum network. Crypto users can now access a coin that is trustable given the history of gold in backing currencies. Digix aims to revolutionize the blockchain and crypto arena by democratizing access to gold.
Olympus Labs Partnership
Partnerships have proven to be major price movers for the crypto tokens right now. The success of DigixDAO (DGD) is not only attributed to its protocol but to a couple of partnerships that have recognized potential in the project. Olympus Lab is the most recent partnership secured by the Digix team. Through the Olympus app it will be possible for users to directly purchase the DGD tokens. This is what Olympus Labs CEO, Kai Chen, had to say about the move;
“We are very excited to partner with Digix, the first few blockchain companies pioneering on Ethereum and creators of DigixDAO, to push the boundaries of blockchain technology and the cryptocurrency revolution. We are honored to be working with such an amazing and forward-thinking team, and we can’t wait to see what amazing D-applications will come from our partnership!”
DigixDAO will be listed among other coins in the Olympus crypto index which allows the crypto community to get access of this coin by a few clicks. Diversification most of the time turns out to be a safe strategy, it is in the interest of crypto investors to purchase a coin uncorrelated to the larger volatile crypto market. With the Olympus Lab partnership it will be possible for better risk management practices within digital currencies since the DGD coin is backed by a very stable asset.
Kyber Network Listing
DigixDAO (DGD) was recently listed in the Kyber Network, a decentralized exchange for cryptocurrencies. The platform is trustable and well compatible with the DGD tokens making a good combination for changing the Fintech arena using a stable digital currency. Once the Decentralized exchanges have integrated trading protocols, users will be able to engage in a safe and transparent platform and acquire other digital assets. Kyber network which uses cross-chains in its protocol will link all sorts of business operations from various blockchain networks making crypto a very accessible ecosystem. This move will be good for the adoption of DGD tokens in future.