Digibyte price has surged 25% today following its listing on Binance. Binance announced it was listing the 35th largest cryptocurrency by market cap only a few hours ago. In an official announcement, the exchange said it would open trading for DGB/BTC, DGB/BNB, and DGB/BUSD trading pairs on 2020/06/22 2:00 PM (UTC), and traders could start making deposits in preparation for trading.
This announcement has had a significant effect on the cryptocurrency’s price which is currently $0.024 as against yesterday’s price which closed at $0.21. DGB’s market cap has also risen from $228 million to over $295 million at the time of writing this article and is still going up.
A dream come true for Digibyte
The Digibyte team has always wanted the cryptocurrency to be listed on a major exchange like Binance or Coinbase, but this has not yielded any results. This is in spite of the project priding itself in the tech behind the outline that makes it truly decentralized and secure. The Founder of Digibyte Jared Tate last year complained bitterly about the conditions Binance gave the company for the listing of DGB. Today, however, the exchange finally listed the coin at no cost according to a Tweet by Jared.
“Today is a big win for everyone & the future of truly decentralized #blockchain Tech. To my surprise & many others @Binance freely listed #DigiByte w/o any requests/ stipulations just as any exchange can do. No permission required. Thank you @cz_binance, #Binance team & $DGB fam!”
Digibyte is an open-source blockchain project similar to Ethereum. It is used to build smart contracts, decentralized applications (DApps), and customizable tokens.
It also has its own block explorer and 5 mining algorithms that make the network more secure. The project launched a scalable second-layer solution on top of its blockchain in 2019 that offers the decentralized issuance of assets, smart contracts, digital identity, and other features.
Its tech has often been applauded in the cryptocurrency space but it hasn’t made the kind of progress the team believes it deserves. With this new listing, hopefully, the project will earn a place higher up the ladder as more users continue to get on the network.