What Is Driving the Price of DGTX?
DGTX has increased a remarkable 1,198%!
Since its ICO in January 2018, the Digitex Futures native token (DGTX) has been one of the top performing investment vehicles within the crypto/token community. Based on the ICO price of $0.01, DGTX has increased a remarkable 1,198% as of 14 April. From a historical perspective, these performance numbers place DGTX among the most successful ICOs of all-time. Why?
Digitex Is a Disruptive Force
Why has the Digitex exchange token enjoyed such a tremendous rally in its brief history? More importantly, can these performance results continue? Let’s explore the details.
Arguably, the largest contributing factor to the price appreciation of DGTX is the fact that Digitex Futures is on the verge of completely changing an industry that hasn’t altered its business model since its inception in 1848.
For the past 170 years, the futures industry has relied on a network of brokers and middlemen to act as intermediaries between the customer and the various commodity exchanges. Thanks to the innovative team at Digitex, the “old school” business model is about to come to an end.
Essentially, Digitex is combining blockchain technology with a native utility token to remove the intermediary from the equation. As a result, Digitex account holders will enjoy a commission-free trading experience in addition to having customer funds stored on the Ethereum blockchain in an independent, decentralized smart contract.
And thanks to the latest partnership with Spotware development team, Digitex is able to outsource the exchange technology to such a respected company who has specialized in trading software for almost a decade. Digitex is sure to be in good hands as it prepares to launch at the end of this month.
So how much is the new Digitex zero-fee platform actually worth? What should be the “true value” of DGTX given the fact that the company is completely revolutionizing a multi-billion dollar industry?
Of course, it’s impossible to accurately forecast the proper value of this innovation. However, if crypto traders and investors are impressed with the Digitex exchange and state-of-the-art trading interface, DGTX has a great deal of upside potential.
Paris Blockchain Week Increases Investor Enthusiasm
Another contributing factor to the recent advance of DGTX is the Paris Blockchain Week Summit. Major conferences and summits bring a tremendous amount of investor enthusiasm to the cryptocurrency universe.
In terms of the Paris event, Adam Todd, CEO of Digitex was a guest speaker during the summit on 16th April. He also participated in a panel discussion about exchanges and brokers, market makers, and liquidity. Adam discussed the upcoming launch of Digitex, as well as his current thoughts on the futures industry.
During the past 12 months, several of the major G20 countries have finally accepted the fact that cryptocurrencies and blockchain technology are here to stay. Consequently, these countries are more than willing to host major crypto and blockchain summits.
Five years ago, most countries were not the least bit interested in blockchain technology. Today, the narrative has completely changed. The majority of governments around the world are embracing this new technology. This is very bullish for all cryptocurrencies and utility tokens like DGTX.
The Digitex Waitlist Has Increased the Exposure of DGTX
Thanks to the Digitex marketing team, the creation of the Digitex Waitlist has proven to be extraordinarily helpful in spreading the word about DGTX. Currently, the waitlist has over 1.4 million crypto enthusiasts waiting for the launch of the Digitex Futures exchange. Without question, the waitlist has increased the exposure of the DGTX token.
The waitlist closes in two more days, on 20th April. Therefore, you still have a chance to join the list and invite your crypto friends to participate in the Digitex launch. Those who make the most effort to spread the word about Digitex will be rewarded with DGTX tokens which can be used on the Digitex trading platform.
DGTX Has Risen in Value as the Launch Date Approaches
It’s certainly no coincidence that DGTX has steadily increased in value as the much-awaited launch date finally arrives on 30th April. The following table displays the price of DGTX, in addition to the volume and market capitalization. Notice how all three of these numbers have consistently increased over the course of the past three months.
As you can see, DGTX has been on a steady advance as Digitex approaches its launch date. Investors are fully aware that the demand for DGTX could increase exponentially as traders use the token to place trades on the Digitex exchange.
Please notice the dramatic explosion in volume on 11th March. Why did DGTX enjoy such a huge spike in volume on this date? We had discussed in a previous article that momentum traders would enter the market if DGTX generated a weekly close above .0679. This is precisely what occurred. DGTX closed above .0679 on Friday, 8th March.
The following Monday, on 11th March, momentum traders became aggressive buyers of the native token. This explains the sharp increase in volume.
Despite DGTX often showing a negative correlation to BTC, Bitcoin still has the greatest influence on the overall cryptocurrency market. Bitcoin sets the stage for all other cryptocurrencies, coins, and tokens. Therefore, we need to pay attention to the price performance of BTC.
The first bullish breakout occurred on 2nd April @ 4440. During the past two weeks, I’ve been very impressed with Bitcoin’s ability to stay above 5K on a consistent basis. Based on my analysis, the most important number is 5704. A breakout above 5704 opens the door to much higher prices. Check out the chart below.
In terms of DGTX, the next set of important numbers are .1606 and .1960. If DGTX can penetrate .1960, we could be headed much higher very quickly, which is exactly what occurred a few weeks ago when DGTX exceeded .0679.
Full Disclosure: I own DGTX.
Digitex Futures writers and/or guest authors may or may not have a vested interest in the Digitex Futures project and/or other businesses mentioned throughout the site. None of the content on Digitex Futures is investment advice nor is it a replacement for advice from a certified financial planner.
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