In the last couple of weeks, Digibyte (DGB) has dropped on market cap rankings and is now 39th. This has investors worried if sentiment on online forums is anything to go by. However, Digibyte’s price action at the moment is just part of short-term market cycles. In the last few weeks, different cryptos have been shooting up in price randomly before cooling down. Digibyte too surged recently after it was listed on Bittrex.
In essence, Digibyte (DGB)’s short-term price action, and its drop on market cap rankings mean little to its long-term growth prospects. From a more long-term view, Digibyte (DGB) is a coin with great prospects. There are a number of factors that support the assertion that Digibyte (DGB) is a good long-term investment.
- On-going developments on the projects
While it doesn’t get hyped much, Digibyte has a lot going on, and over time, the market will come to appreciate it. For instance, during the Texas Blockchain Conference, Jared Tate touched on some of the latest developments in the Digibyte (DGB) ecosystem. One of the developments he touched on is Digiassets. Though still under development, this platform will enable organizations to build on top of Digibyte. According to Jared, businesses have been asking how they can build on top of this highly secure and highly scalable blockchain.
This is a reason to believe in Digibyte (DGB) as a long-term investment. That’s because, with its reputation as a secure and reliable blockchain, there could be an explosion of businesses building on top of the Digibyte (DGB) blockchain. That’s something that could see the value of this crypto rise by a huge margin in the next Bull Run and could easily see it take a spot in the top 10.
- Digibyte (DGB) has a strong team behind it
The cryptos that stand to grow the most in the long-run are those with strong teams behind them. There are lots of projects that have fizzled away due to lack of good teams. Digibyte (DGB) is not one of them. It has a very strong team behind it that includes people like Jared Tate. Jared is one of the smartest an influential people in crypto, and that’s a plus for Digibyte (DGB). Jared recently stated that he is working on a product called Vesti. This is a product built on Digibyte (DGB) that will revolutionize the real estate market. That’s a good reason to be long-term bullish on Digibyte knowing that there are smart brains behind it.
- Digibyte (DGB) is growing in market awareness
If a crypto is unknown, it can’t grow because it can’t draw in more volumes. Digibyte doesn’t have this problem because its market presence has grown tremendously in the last one year. The Digibyte awareness team has aggressively pushed Digibyte (DGB) across different countries. More exchanges are also taking an interest in Digibyte and this is critical to its long-term growth. For instance, Digibyte was recently added to Bitfinex, one of the most important exchanges in the world. That’s positive progress that will drive up its value in the long run.