This morning it became apparent that the cryptocoin called DigiByte ($DGB) was set to skyrocket in price. In the past 24 hours, the price of the coin went up a cool 43%, and beat its own previous top price (from May 21st) – once, and hasn’t looked back since. But why – why has DigiByte suddenly turned into the third most traded coin on the market overnight? We’ve got a few answers.
1. Minecraft Integration
There’s some confusion when it comes to this particular point, but the end result is the same – DigiByte will indeed have their own Minecraft server soon. To be super clear, this does not mean that Mojang nor Microsoft are affiliated with DigiByte, nor the other way around. This has nothing to do – nothing directly, anyway – to do with the release of the Minecraft Marketplace this week, the Discovery Update 1.1, or Minecraft Coins.
The Minecraft DigiByte server will be housed at Mine That Digi and it’ll be launched on the 10th of June, 2017. That’ll coincide with the event taking place on the 9th with Citi. This is just one part of the puzzle.
The reason this Minecraft announcement has caught on in the crypto-hype market is its perfect timing with the two events mentioned above. Minecraft Marketplace with Minecraft Coins launched this week on Bedrock Platforms, and DigiByte (official) is going to make a presentation at a Citi event.
UPDATE: Just for kicks we’ve also reached out the the Minecraft team at Microsoft to ask if any DigiByte business was coming to Minecraft in the near future. They said that this was “the first they’d heard of it”. So that’ll be a final nail in the coffin of that particular angle.
2. Meme Contest
There’s a Meme Contest of sorts going on right now on multiple social networking platforms. While the contest does not necessarily aim to boost the price of DigiByte, but seeing a massive increase in the brand DigiByte over the past several days does tend to move minds – and cash – to the coin. Have a peek at the Reddit listing for the Meme Contest and see what you make of it.
3. Citibank Presentation
On the 9th of June, 2017, DigiByte Holdings LTD will make a presentation called “DiguSign” for Citibank. This will take place at once of several Citibank events under the umbrella event “Tech For Integrity Challenge” (T4I). Strategic partners include IBM, Microsoft, Facebook, LTP, PWC, Clifford Chance, and MasterCard.
DigiByte’s presentation brief reads as follows: “An easy-to-use, workflow compliment to the trade, logistics, and related banking industry, via a web and mobile platform to allow users to create blockchain identities.” That’s real business right there – and it’s more REAL than any other comparable sort of hype. This isn’t a Monero pump-and-dump type situation – RIP to those that were burned.
Should I buy a bunch of $DGB?
That’s the million-coin question, isn’t it? Unfortunately, SlashGear nor the author of this article, Chris Burns, are here to offer any investment advice. This article is only here to present the facts and a bit of conjecture about how the hype universe works in cryptocoins.
Make no mistake – there’s certainly some money in $DGB right this minute if you can track the quick trends up and down. But don’t expect the information above to make or break the market in the near future! If you want to buy a few thousand DigiByte and buy yourself a few hundred taco dinners next week after you’ve taken the profit, that’s your business.