DigiByte (DGB) has attracted attention as one of the older digital assets poised for another streak of appreciation. It has the trading profile of older coins, relying on Bittrex and Poloniex for its price discovery. But for those assets, a listing on one of the hot Asian exchanges – notably Binance and OKEx – could mean a new upward trend and more robust trading.
DBG was one of the faster climbers on Monday, doubling its price in the past two weeks from recent lows to reach $0.04. Trading volumes have grown several times compared to last month’s levels, and the uptick may continue for a while. While there is no talk of a dramatic bull market, DGB may be one of the coins climbing independently even in the current bear environment.
UpBit is also one of the exchanges with significant DGB volumes. However, the coin has almost no inflows of Tether (USDT), and its price is dependent on Bitcoin owners looking to make higher returns through a low-priced coin.
As DGB climbs up the chart on CoinMarketCap, a renewed interest may see a further boost in prices. And like many other rising coins, DGB has seen talk of a potential listing on Binance.
Based on total supply, DGB is relatively low-priced. Compared to TRON (TRX), which has a total supply of 100 billion, there are just 10 billion DGB. Verge (XVG), whose supply stands at 15 billion, is currently in a lower price range at around $0.02. DGB is growing gradually, and in some ways also resembles Bytecoin (BCN) – another older coin gaining a fan base for being a relatively low-priced and accessible asset that can also be used for payments.
DGB is relatively centralized, with nearly 70% of the coins held in the top 1,000 wallets (this also accounts for exchanges). There are limited data about the hashrate, but DGB is still mineable. It uses the Skein mining algorithm, which is still suitable mostly for GPUs, with talk of ASIC rigs in the making.