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Digitex Futures (DGTX) Cements Top 100 Position with 194% Two-Week Growth

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Digitex Futures (DGTX) started popping up in the market cap top one-hundred in the last few weeks, although any surge was usually met with a corresponding rebound back to the second page of CoinMarketCap.

Now the DGTX token is solidifying its place in the top hundred crypto projects, propelled by 194% growth over the last two weeks. Digitex only began actively trading in May of this year, and since then has grown by over 2,000% despite only being available on two small exchanges.

What Is Digitex Futures?

According to the project announcement page on the Bitcointalk forum:

“Digitex is a commission-free futures exchange where traders can buy and sell futures contracts on the price of BTC/USD, ETH/USD and LTC/USD with zero transaction fees on any trades. Zero trading fees combined with high leverage and an intuitive one click ladder trading interface allow traders to pursue high volume, ultra short term trading strategies without getting killed by commissions.”

The DGTX token appears to be used in a similar way to Binance’s BNB token, with the exception that losses and profits are also paid out in the form of DGTX. The exchange aims to maintain a zero-fee policy by creating and selling its own batch of DGTX tokens each year:

“With its own native currency, called the DGTX token, the exchange covers costs by creating and selling a small number of new DGTX tokens each year instead of charging transaction fees.”

Included in the exchange’s plans is a vow to never require customer ID or personal details, effectively eschewing the KYC demands that have become more common of late. According to Digitex, the exchange never has any access to a user’s funds, with money instead being held in an Ethereum token contract.

As mentioned above, in the token’s five-month half-life thus far, it has only managed to find a listing on two exchanges. But as we’ve seen before, sometimes that can be more than enough to accomodate a bullish run.

DGTX Climbs Against Dollar

Since the August low of $0.004437, DGTX has grown by just over 2,000% en route to Friday evening’s peak of $0.095324. Growth over the last two weeks alone amounts to 194% as the token price climbed from $0.032324, and today’s peak stands as an all-time high for DGTX.

Just a few months ago the token was trading with $2,000 daily volumes and a market capitalization of a few million. Now those volumes have hit $1.3 million, while the market cap has grown to the $60 million range.

Only the DGTX/ETH and DGTX/BTC markets on the Mercatox and Exrates exchanges are available for buyers and sellers, with the ETH market currently making up 85% of DGTX trades.

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.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 123 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Crypto Markets Get a Boost Heading Into the Weekend as Debate Over Bitcoin ETF Intensifies

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Cryptocurrency prices rose on Saturday, alleviating the risk of an imminent pullback following days of mostly lateral moves. As history has shown, longer periods of sideways trading are often followed by brisk selloffs in bitcoin and altcoins.

Flush of Green

The biggest cryptocurrencies all reported gains at the start of the weekend. Bitcoin, the largest by market cap, climbed back above $3,700 in a show of momentum for the bulls. At last check, the bitcoin price was valued at $3,744.11, having gained 2.5% from Friday.

Bitcoin’s price broke out on Monday but failed to generate sustained bids throughout the week. As a result, it spent most of that period hovering between $3,600-$3,700. Bitcoin faces a major long-term support at $3,550; a break below this key level could be a momentum killer for the bulls.

The leading digital currency continues to be a good barometer for the overall market. With a market dominance rate of 52.5%, bitcoin has a direct impact on how altcoins and tokens perform. It comes as no surprise that coins other than bitcoin rose by more than $2 billion on Saturday, according to CoinMarketCap.

The total market cap of all cryptocurrencies improved to $124.7 billion, up markedly from a 24-hour low of $120.9 billion.

Litecoin was the top gainer among major cryptos, rising 4.4% to $32.65. XRP added 1.7% to $0.3313, Ethereum climbed 2.5% to $125.01 and bitcoin cash rose 1.4$% to $130.70.

Outside the top-ten, IOTA rose 4.1% to $0.3246. NEO advanced 5% to trade at $8.09.

Bitcoin ETF Debate Continues

The U.S. Securities and Exchange Commission (SEC) has a big decision to make in roughly five weeks: approve or reject the VanEck SolidX Bitcoin Trust. Unlike previous crypto ETF applications, the VanEck-SolidX application proposes a physically-settled bitcoin fund that addresses many of the SEC’s ongoing concerns around investor protection and market manipulation.

Some investors are clinging to the hope that SEC approval of the VanEck-SolidX product will give the market a much needed boost by the end of the first quarter. But the impact of the approval/rejection could depend largely on how the market performs heading into the decision, now slated for Feb. 27. As Hacked reported last month: “The rejection of an ETF approval could affect the market if the price of Bitcoin has been increasing in anticipation of the announcement.” More here.

The consensus among analysts and market observers is that the SEC is unlikely to approve any bitcoin ETF this year. This view was recently echoed by bitcoin bull and CNBC contributor Brian Kelly, who says the bitcoin futures market isn’t mature enough to allow for an ETF to be approved. He didn’t comment specifically on the VanEck application, which has been designed as an alternative to futures-linked products by holding a repository of physical BTC as opposed to derivatives.

The SEC’s Office of Compliance Inspections and Examinations (OCIE) named crypto as one of six regulatory focal points for 2019. In a recently released report, OCIE said: “Given the significant growth and risks presented in this market, OCIE will continue to monitor the offer and sale, trading, and management of digital assets, and where the products are securities, examine for regulatory compliance.”

For more on this story, read: As Race for Bitcoin ETF Heats Up, SEC Identifies Cryptocurrency as a Top Priority in 2019.

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.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.7 stars on average, based on 741 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Why Investors Should Be Paying Attention to FUEL

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For anyone who’s had to work with a lawyer before and wondered “why is this so expensive?”, the answer is usually because where there is a high degree of complexity, there is also risk. Lawyers are brought in to mitigate this risk by building contracts that factor in the complexity.

But this is hardly the most efficient way to do things. All these service oriented contracts have to run through middlemen or centralized companies, which leaves the counterparties exposed to any security risks these middlemen might have.

Smart Contracts as a Solution

Potential attacks can be mitigated by using smart contracts to eliminate the central party risk. This is what Ethereum was designed to do: create a decision-making system that wouldn’t be vulnerable to third-party tampering.

Even though Ethereum is able to support DAOs and DACs, it isn’t the easiest platform to work with as a developer. This is largely because of the requirement that programmers use Solidify, which is considered to be an esoteric language.

Etherparty to the Rescue

Where Etherparty comes in is that it delivers improved ease of use. They are actually marketing themselves as doing the same thing for DAOs that Wix is doing for websites. By being safe, reliable, and easier to get involved with, they have the potential to become the de facto platform for many of the broader and more marketable applications that will surface within the blockchain ecosystem.

There are templates for creating smart contracts already stored in the cloud, and all contracts are settled using the proprietary token, FUEL. Any transaction or execution requires FUEL, which is where the natural demand comes from, but there the contract payout amounts are pegged to USD to avoid having fluctuations of the FUEL price affect the payout.

The business model is similar to a subscription, where a monthly fee determines how many features the user has access to, as well as the level of integration. From an investor’s perspective, this creates a constant revenue stream and “demand” for FUEL that could do great things for the price.

Investment Opportunity

The technology of creating agreements between parties is definitely in high demand, and the question becomes: is Etherparty the likely winner in this space? We can’t know for sure, but the current pricing is very appealing. Sometimes a deal makes for a good incentive to invest in an already competitive space.

Currently ranked at 372 in terms of market capitalization, the buying case for FUEL is more of a long-term one. It can be purchased on Binance and has just start to test resistance levels again.

The November high was around 400 satoshis, and based on the current trading patterns, that could be a possibility if FUEL were to break out of the 210-240 satoshi range. Having a smart contract creation tool will become increasingly important as the industry continues to advance and more companies want to use the blockchain. One thing is clear, the coin is down from all-time highs and has potential to be a runaway hit in this down period we are currently experiencing.

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.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Power Ledger (POWR) Reaps Benefits of Good-Guy Image with 45% Weekly Growth

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Power Ledger (POWR), the blockchain-based democratizer of the energy industry, gained 45% on its value over the past week. While 68% of daily trades came from Korean markets, it was Western eyes which were focused on Power Ledger this week.

Coverage in Huffington Post, and a nomination from Newsweek in their ‘Blockchain Impact Awards’, both added to POWR’s growing reputation of one of crypto’s good guys.

Power Ledger’s Good Rep

Coming hot out the gates with a plan to democratize the energy sector by cutting out third-party middlemen, Power Ledger got off to a promising start when it launched in late 2017.

Only a month or so after trading commenced, POWR got swept up in the altcoin pump of January 2018 and charged ahead to 3,919% gains, and an all-time high of $2.01.

Power Ledger’s aim to put (literal) power back in the hands of the average citizen made it an instant media darling. Its reputation as one of blockchain’s good guys, or gals, may also have been helped by the media focus on co-founder Jemma Green – one of the few women currently involved prominently in the blockchain space.

Blockchain Impact Awards

The first ever Blockchain Impact Awards, held by Newsweek, lists Power Ledger as one of the nominees for the upcoming ceremony.

“Newsweek is working with global experts in the blockchain world to present the first ever Blockchain Impact Awards. The awards will recognize entrepreneurs and enterprises that are developing blockchain applications to accomplish a social good.”

Power Ledger is up against 24 other blockchain projects – none of which are as instantly recognizable as the still fairly unknown Power Ledger. The next most known project among the nominees would perhaps be Akoin – the project founded by U.S-Senegalese rapper, Akon.

Huffington Post Likes Power Ledger

Power Ledger was given the spotlight in the Huffington Post before its ICO was even over, back in 2017. This week saw another focus article dedicated to Power Ledger, this time covering co-founder Jemma Green’s position as a female role-model in the blockchain industry.

Yet the promise of Power Ledger may run deeper yet. A single mother of two when she launched Power Ledger, Green has already met with the likes of Richard Branson and Elon Musk – both of whom have shown interest in the project.

Power Ledger Price

The last seven days have seen POWR wake up after a long and painful descent through 2018. From a weekly low of $0.070057 seven days ago, POWR surged 45% up to Friday morning’s price point of $0.102010.

The late night peak of $0.112617 took weekly gains to 60%, however much of that faded away by the time Western traders woke up for the day. The recent daily volume peak of $15 million is the highest in almost three months, with the POWR/KRW trade to thank for 68% of it.

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.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 123 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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