DigiByte (DBG) Brief Analysis - New BINANCE Listing Review
Summary
- DigiByte is a UTXO (Unspent Transaction Output) Blockchain which they claim truly decentralized, secure and a faster transaction for digital currency.
- DigiByte has 21 billion coin supply which issued under DBG unit. DigiByte’s Block will be issued every 15 second and Block Reward reduced by 1% every month. DigiByte expected to mine all coins in the year 2035.
- DigiByte is 100% POW (Proof of Work) which can be mine by five algorithm SHA256, Scrypt, Skein, Qubit and Odocrypt.
Coin Information
DigiByte Price: 0.020373 USD / DBG
Market Range: #34
Market Cap: 270,417,703 USD
Circulation Supply: 13,273,846,934 DGB
Max Supply: 21,000,000,000 DGB
Source: Coin360.com
Fundamental View
Based on Bituniverse (Cryptocurrencies Management App), DigiByte classifies as Payment Token category and their market cap rank is no.6 in this category.
DigiByte was listed in major top exchanges in the world such as Bitfinex, OKEX, Huabi, and Binance with significant volume per day around 20-30 million USD. They focus on speed, securities, and scalability. They have limited supply for 21,000,000,000 DGB and it’s expected to mine all coins around the year 2035. This is a good point for DigiByte which developers promise that they will not have more coins after all coin mining and miners will get transfer fees as a reward. It will control inflation within the chain.
Digibyte’s highlight is DigiShield and MultiAgo protocol. DigiShield is a protocol which prevents “Chain Freeze” when minner is switch between mining Digibyte to another or from another to Digibyte. They will have real time protocol to adjust & monitor difficulty. MutiAgo is support minner to mining DigiByte in five algorithms (SHA256, Scrypt, Qubit, Myr-gr and Skein). It will support chain to prevent from 51% attack and allow GPU user or household user to mine their coin.
Team Member
- Jared Tate - Founder of DigiByte & Core Developer TwitterLinkedIn
- Gary Mckee (WB)- Core Developer Twitter
- Frederick (GTO90) - Core Developer
- MentalCollatz - Core Developer
- Noah Seidman -Android specialist Twitter
- Yoshi Jager - iOS & Core Developer, UX-Designer, Mobile- & FullStack-Developer. Machine learning and blockchain expert. Master in C/C++, VanillaJS, Swift, Bourne/Bash Twitter
- Thomas Ploentzke- Software Developer, LinkedIn
# I will not focus much on Team Member or developer team which you can follow him or see his profiles from twitter or Linkedin
Technical Analysis View
For technical view point, Digibyte is a really interesting coin in the market as they start listing to famous exchanges such as Huabi, OKEX and newly listing at Binance. They have turnover rate around 14.37%, high volatility 123.93% and average volume around 20-30 Million USD so many traders focus and keep an eye on DGB.
If we looking weekly chart, you will found out that DGB as break out from down-trend and it making new high as done for wave 1 and it is still on wave 2 for retracement which has support around 0.01680 USDT / DBG and Resistant around 0.024 USDT / DBG.
If we focus on the Daily chart, DGB is trading in range and sideway direction which is retracement and correction of new support and resistance. It may waiting for breakout in the future
In my opinion, DGB has interested and looking attractive to invest in both swing trade and HODL
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