Digibyte (DGB) is on a roll today. It is up by over 6% at the time of writing. This follows the announcement by Bitfinex that they are now listing Digibyte. Here is the notice from Bitfinex with regards to Digibyte (DGB)’s listing.
“We are pleased to introduce trading for DigiByte (DGB). Trading will be enabled for DGB against BTC and USD pairs, with margin markets to be introduced following the development of a liquid trading market. DigiByte is a global blockchain system with a focus on cybersecurity for digital payments & decentralized applications. The DigiByte Blockchain is positioned towards the development of a secure and decentralized digital future with a unique combination of innovation and resilience.”
Bitfinex was at one point, the largest exchange in the world, and it is still one of the most important crypto exchanges in crypto space. As such, the fact that Bitfinex is listing this coin is a good sign for its long-term prospects. The best part about it is that Bitfinex is pairing Digibyte with the USD, which not only adds to the liquidity of Digibyte (BTC) but also takes it a step forward towards Digibyte’s decoupling from Bitcoin (BTC) in the long-run.
This move by Bitfinex to list Digibyte (DGB) pretty much compensates for Binance’s decision to skip on Digibyte, and the ensuing war of words that followed between the DGB founder, Jared Tate, and Binance’s CEO. Considering the standing of Bitfinex in the markets, it could give Digibyte the same impact that Binance would have had on this crypto. For instance, one of the things that Binance gives to cryptos is a short-term pump in prices. Any time a crypto gets listed on Binance, it tends to pump. Bitfinex has already given the same effect to Digibyte. It has pumped and as this news filters into the markets over the weekend, Digibyte (DGB) could pump even more.
Binance also creates more awareness about the crypto that it lists, by virtue of the number of investors they have on their platform. Bitfinex does have a similar effect too. Now that they have listed Digibyte (DGB), there are more people who will get to know about it, and invest. It is basically a part of marketing, without the team having to push it directly in the market. This is a powerful form of marketing that will have long-term implications for Digibyte.
Therefore, this listing does have positive implications to the value of Digibyte (DGB) going into the future. It is helping push a coin that is already very fundamentally strong. Digibyte is one of the cryptos that have the fundamentals to push up in value going into the future. For instance, its use case in cybersecurity puts it in a good position to grow as machine-to-machine communication becomes the norm. If Digibyte (DGB) becomes the blockchain that secures the IoT market, it could easily push to over a dollar. That’s because this is a trillion dollar market in the making and one where DLTs will play a very important role in the future.