DigiByte (DGB), the virtual coin of the eponymous blockchain payment network, surged 17% on Friday morning to a peak of nearly $0.049 at 05:39 UTC, a level not seen since the beginning of May. The coin price then lost some steam, and is changing hands at 0.045 at 11:19 UTC. The possible reason for DGB’s eye-catching price growth amid a bearish market early Friday morning may be an announcement for its debut on Huobi, one of the largest global digital exchanges.
DigiByte ranks 32nd among the most-traded cryptocurrencies with a market capitalization of more than $476 million.
Huobi said on Thursday it is adding DGB to its trading platform as of 08:00 UTC on Friday. The exchange supports DigiByte trading in pairs with Bitcoin (BTC) and Ethereum (ETH). However, withdrawals will be available as of 08:30 UTC on Sunday.
Several exchanges have already listed DGB, including Bittrex, Poloniex, Upbit, OKEx, HitBTC, KuCoin, Cryptopia and YoBit. Bittrex, Upbit and Poloniex were the top three markets for DGB in the last day as their DGB/BTC pairs accounted for more than $14.5 million out of nearly $19 million trading volume of DigiByte.
Digibyte project
DGB coin was found at the beginning of 2014 by Jared Tate. It is a minable cryptocurrency with more than 10 billion coins in circulation at the moment, out of a 21 billion cap. DGB uses a public blockchain and five different Proof-of-Work (PoW) algorithms. Developed to compete with Bitcoin, Litecoin (LTC) and other bigger payment coins, DigiByte offers to process transactions in one-three seconds and confirm them in about a minute and a half. Its network can handle more than 280 transactions per second and is intended to double its capacity every two years, eventually exceeding 2,000 transactions per second, according to the project’s website.
“DigiByte has never been funded through an ICO, presale or token sale, nor is there a private company controlling the DigiByte Blockchain in line with our vision for a decentralized digital future,” DigiByte explains.
DigiByte has own wallet with versions for Windows, Mac OS, Android and Linux.
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