Digitex Futures (DGTX) saw a 50% price increase from Saturday through Sunday, as Q4 launch date for its decentralized futures exchange draws near.
According to the project website, over half a million traders have already signed up to the waiting list to be part of the exchange when it launches. While a hard date hasn’t been set, the Q4 roadmap goal for the beta-launch appears to be on schedule.
DGTX launched in early 2018 and climbed to 1,594% gains over the summer months, although the market descent into Q3 wiped much of those gains off the ERC-20 token.
DGTX Token Price
The value of DGTX had been falling since early October, and lost 50% of its value by the time November came around.
Things started to turn around a few days ago in the wake of the market crash, and the token kickstarted a growth spurt which amounted to over 55% in three days.
That was enough to return DGTX to the market cap top-hundred after a long absence, and it was all achieved by trading on just two exchanges – Mercatox and HitBTC. Over 75% of trades came against ETH, while the rest was made up by BTC and USDT.
What Is Digitex Futures?
According to the project’s documentation, Digitex Futures is a cryptocurrency futures exchange which allows for zero-fee trading, and decentralized fund control. All funds on the exchange are transferred into DGTX, and are then held in an autonomous Ethereum smart-contract, which the operators of the exchange have no access to.
Trading fees are apparently circumvented by the yearly issuance and sale of a small number of DGTX tokens – which new traders will require to use the exchange. Also, 20% of the token sale funds are overseen by autonomous trading bots, whose job it will be to increase liquidity and make markets.
The project was created by Adam Todd, a former professional gambler who gained fame for his winning streaks on the UK-based Betfair trading platform. Todd is also a programmer who created the BetTrader software which enabled one-click betting, and eventually attracted over 25,000 users.
The token continues to climb moving into Sunday afternoon as trade volume continues to rise past $800,000 – up 100% from the $400,000 sum earlier on Saturday.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.