Digibyte (DGB) has become more popular on the internet lately, even as the crypto market continues to drop. It’s an indicator that investors are beginning to realize the powerof true UTXO blockchains. Most of the cryptos that rank higher than Digibyte (DGB) on market cap rankings are nothing but ERC-20 tokens that could disappear if Ethereum continues to drop. In a scenario where there is a complete meltdown, only true UTXO blockchains would survive, which means Digibyte could rank way higher than its current position in terms of market capitalization.
Looking at its core fundamentals, Digibyte stands a good chance to gain a market cap that is quite close to that of Litecoin (LTC). The two coins are true UTXO blockchains and have the features to function quite well as digital currencies. They are both super-fast, have low transaction costs, and are highly secure. This explains their increased rate of adoption all across the world. Digibyte (DGB) also has an added advantage of being a cybersecurity crypto, a feature that gives it the potential to rise even further in value, and reach close to Litecoin’s market cap. But can Digibyte realistically hit Litecoin’s current market capitalization? Absolutely yes!
At the moment, Litecoin (LTC) has a market cap of $3.2 billion. For Digibyte to reach such a market cap, it just needs to gain 15 times from its current price, and hit a valuation of $0.30. That’s very much achievable in the crypto markets. In 2017, most cryptos gained by thousands of percentage based on nothing but hype. Now that the tech is developing and big money is slowly making its way into cryptocurrencies, chances are that the next bull run will could drive up prices by higher percentages than what happened in 2017. This would make a market capitalization of $3 billon for Digibyte (DGB) not just attainable, but also a low target. If anything, it stands a good chance of hitting a figure way higher than that.
All the Digibyte team needs to do is push for more accessibility through exchanges to drive up liquidity, which will in turn spur demand. They actually seem to be doing a pretty good job at that, since Digibyte has been added to several exchanges in the last few months. Though the big targets are Coinbase and Binance. Getting into these two exchanges is not easy, but once it happens, it will be a major boost for Digibyte, not just in terms of its short-term price, but also in terms of increased awareness. There are lots of tokens that rank higher than Digibyte (DGB) simply because they are on these exchanges, especially Binance. As such, if they were to list it, Digibyte stands a very realistic chance of making it to the top 10.
But even as investors wait for that to happen, Digibyte’s adoption is still growing organically. It is one of the cryptos that people in Venezuela are using for transactions to avoid hyper-inflation. Digibyte’s volumes have been rising in Turkey too, since the Turkish currency started tanking due to U.S tariffs. It’s a good sign that people are slowly appreciating the value of Digibyte (DGB).