DigiByte price prediction: ready for prime time?

DigiByte price prediction: ready for prime time?

The crypto world is always looking for the next big thing: some underappreciated token with notable growth potential. Often, this means looking closely at new projects as they’re being launched, making sure you don’t miss anything promising.

But what if the next big thing has been with us for more than 8 years? Consider DigiByte (DGB): first launched on 1 January, 2014, it still remains relatively obscure. At the time of writing, it’s not even among the Top 100 cryptos by market cap. It has, however, been testing one all-time high after another since 2017 – and investment analysts suggest it is far from being done.

So is DigiByte indeed poised for success or are its best days behind it? Let’s look at this token and DigiByte price predictions 2022 to find out.

 

A brief introduction to DigiByte

As always, before we can understand future Digibyte value, let’s start with a brief overview of it.

DigiByte’s development started all the way back in 2013, and its first block – or Genesis Block – was mined in 2014. 

Like many early crypto projects, it was heavily inspired by Bitcoin. Just like Bitcoin, it was first conceived as a means of payment, but it’s been designed to be both faster and cheaper. It also features a number of security-focused improvements.

Like Bitcoin, it also uses the Proof-of-Work consensus mechanism, as opposed to the newer Proof-of-Stake. 0.5% of the total supply of DGB was pre-mined at launch, but all the subsequent tokens have been mined by crypto miners.

Just like Bitcoin, DGB also has a supply cap. BTC has a hard cap of 21 million, but DigiByte has set its cap at 21 billion tokens, arguing that this makes the crypto more manageable – the average user does not have to deal with exceedingly small decimal fractions. All of DGB will be mined by 2035.

And, just like Bitcoin, DigiByte is decentralized and open source. It’s not unusual for a crypto to have paid developers and a commercial entity overseeing it. DigiByte, however, prides itself as being developed and promoted entirely by unpaid volunteers who contribute their work because they believe in the project. There is a non-profit called DigiByte Foundation, but its stated goal is only to “mobilize and empower” the DigiByte community, not to represent or oversee it.

This does not mean, though, that DigiByte is just an upgraded version of Bitcoin. It’s not just a means of payment: it’s a fully fledged crypto platform. There’s also a layer built on top of DigiByte blockchain called DigiAssets which, as the name suggests, allows users to issue digital assets. These include things like smart contracts, decentralized applications (dApps), even new tokens. 

One particular use of DigiAssets is Digi-ID, which allows users to use their DigiByte wallet to log in websites, apps and devices that support this functionality.

 

DigiByte price history: slowly trending higher

Now that we know what DigiByte is and what it can do, let’s take a closer look at DigiByte price history.

DigiByte price history

Not just a one-hit wonder: DigiByte has been reaching new all-time highs consistently. Graph: CoinMarketCap

It displays a pattern seen in many early altcoins, that is, tokens other than bitcoin. There was limited interest until 2017, which is understandable: the public awareness of cryptocurrencies was low, and altcoins flew under the radar. 

Interest started building up in 2017. In March, it was still trading near the USD 0.002 mark; by June, it had spiked all the way up to USD 0.06. A rapid correction followed, but yet another bull run followed in December. By 6 January 2018, DGB had reached USD 0.12 – although, once again, another crypto winter followed, with DGB hitting USD 0.003 at one point.

So far, the pattern looks similar: initial interest followed by a gradual loss of interest as newer, more exciting tokens come onto the market. But this is where things get interesting.

Come the 2021 bull run, DigiByte was ready to spring into action once again. Unlike other altcoins, however, it was able to hit another all-time high: USD 0.1571.

Another correction followed, but this time, it wasn’t as deep, and the token never slipped much lower than USD 0.018. By April 2022, the token was trending higher again.

 

DigiByte price prediction 2022: strong community

Here’s an important disclaimer before making a price forecast. We strongly believe in the first rule of crypto: do your own research. This means that these are just our thoughts, not the definitive explanation. Keeping this in mind, let’s try to make some sense of DGB price movements.

It’s quite noticeable that DGB has been moving roughly in line with the crypto market in general. Unsurprisingly, it didn’t rise in a generally bearish market, but it also didn’t lag behind in the bull market. Quite the opposite, it has often outperformed other cryptos. So what is going on here?

One possible explanation could be that DigiByte has both a strong product and a dedicated community. Here’s what we mean.

If you take a more idealistic approach to crypto, DGB fits the bill perfectly: it is decentralized, open source and developed by unpaid volunteers. It has never had an ICO, and almost all tokens have been mined by the community. Even the use of PoW consensus mechanism could be said to be a deliberate choice more in line with the original spirit of crypto.

tweet about DigiByte features

DigiByte implements many features that crypto idealists may find appealing. Screenshot: Twitter

 

We firmly believe that there’s more than one way to do crypto, and different approaches can be just as valid. Still, the crypto community has its fair share of crypto idealists, and DigiByte has many features they find appealing. 

 

DigiByte price prediction 2025: growing visibility

The community-based approach means that DigiByte, by definition, doesn’t have any corporate shareholders. Of course, being open source, any company can use DigiByte, but the community is not actively seeking corporate partnerships.

Other cryptos boast some high-profile partners that do much to boost their visibility and increase consumer trust. DigiByte remains more of a grassroots effort without big marketing budgets, which helps explain why it still has a relatively low profile.

The community is actually aware of this, and it is taking steps to address this. In 2018, DigiByte Awareness Team was launched. Much like the DigiByte Foundation, it is an unpaid collective of volunteers – and, if the foundation is overseeing the development of the platform, the Awareness Team is working to promote it.

Let’s try putting this together.

It does appear that, up until recently, the DigiByte community has been focusing more on the development and less on the promotion of its token. This is not a bad idea, but it does mean that DigiByte has a strong product that, to a certain extent, is held back by its relatively low visibility. 

It doesn’t have a cute mascot like Dogecoin, an outspoken leader like Cardano or a huge ecosystem like Ethereum. It does have a dedicated community, but, as is often the case with many crypto projects, it may appear to be too technical-minded. As a result, DigiByte is not exactly the first choice for crypto newcomers.

On the other hand, this also means that DigiByte is exactly the kind of token the crypto community is always looking for: underappreciated, but with notable potential. The big question now is – can it actually take off?

 

DigiByte price prediction 2030: potential issues

When trying to answer this question, remember that DigiByte has a history of taking off, reaching new all-time highs in pretty much every market cycle. Its community is actively working to develop and promote the platform. Investment advisors hail it as a “solid choice”. Does this mean it’s just a matter of waiting for the next bull run?

Maybe, but it’s always a good idea to temper your optimism with some caution. So let’s look at some issues that could affect DGB long-term prospects.

First things first: DigiByte has some stiff competition. The crypto space is a lot more crowded than it was in 2014. There are more popular cryptos that can do the same things as DigiByte, and they are bound to attract more attention from investors.

Less attention also means less liquidity. For a long time, DigiByte wasn’t listed on major exchanges, although it is now available on both Binance and Coinbase. 

Then there’s the technical side of things. As noted, DigiByte inherited many features from Bitcoin, most notably its Proof-of-Work consensus mechanism. Now, we’ve covered the PoW vs PoS debate earlier, so we won’t repeat it here. Both approaches have their strengths and weaknesses. It does seem, however, that the current market trends are more favorable for PoS cryptos. They don’t need expensive mining rigs, they are a great deal less energy intensive, and, in a way, they’re more community-friendly. The threshold for staking a PoS crypto is really low, so community members are encouraged to stake it. For example, 73% of Cardano’s total supply is staked. In comparison, a PoW crypto depends on a much smaller number of miners.

All things considered, it appears that at this time, DigiByte is more appealing to crypto enthusiasts and less so for the mainstream public. It’s not necessarily a problem: the crypto world is large enough to accommodate all kinds of tokens and platforms. Moreover, this doesn’t mean DigiByte cannot gain widespread mainstream appeal.

And, in fact, a project is in the works that may well win it some mainstream appeal. Let’s look at it next.

 

DigiByte price prediction 2035: DigiMetaverse

If you’ve been into crypto for a while, you may have heard about the Metaverse – especially because many cryptos pin their hopes on it. DigiByte is no exception, so let’s check out what Metaverse is.

In a nutshell, Metaverse is the next step in the evolution of the Internet. Instead of sites you view on your screen, Metaverse is a series of virtual 3D worlds you can visit and interact with, much like the real world. Mark Zuckerberg’s Meta concept video is a good, if slightly cringy, introduction to the concept.

Metaverse aims to completely redefine the way we use the Internet, bringing it more akin to a real-world experience. Photo: Meta

And, much like the real world, you can also own assets, items, and even real estate in this virtual world. There must, however, be a way to verify the ownership of these assets – and, since Metaverse is a series of worlds, not just one huge proprietary platform, it must work across different platforms.

Cryptocurrencies and blockchains are perfectly suited for this particular task, and they’re already testing the waters with things like NFTs. Still, this is just the beginning. If Metaverse really takes off as planned, blockchain and crypto will be among the most important building blocks of the whole Metaverse infrastructure.

That’s a big pie – and crypto projects are racing to get their share of it. DigiByte is no exception. Its Metaverse project is called DigiMetaverse, and it is developed by a company called DigiCorpLabs.

Note that DigiByte remains an open source project developed by unpaid volunteers. Just like DigiAssets, DigiMetaverse is a layer built on top of the DigiByte blockchain – and it even comes with its own token, DGMV. Still, if the DGMV token indeed reaches its Metaverse goals, the underlying DigiByte blockchain and token also stand to benefit.

 

Price points from best DigiByte prediction tools

So far we’ve discussed the basics of DigiByte and touched on some of the most promising projects. But what about specific long term price predictions?

We can say again that putting a specific price point on future crypto prices is tricky, and DigiByte is no exception. DigiByte price estimates vary wildly, from extremely bullish to mostly trading sideways. Keeping this in mind, let’s look at some crypto prediction sites.

  • On the extremely bullish side, Coin Quora sees massive growth, claiming DGB could reach USD 10 by 2025. To be fair, this looks to be more of a very optimistic claim than serious analysis – or, at best, an extrapolation of the very best case scenarios;
  • Wallet Investor, which uses AI to estimate future crypto moves, is much more restrained, as it predicts DGB will not go above USD 0.122 in 2025;
  • DigitalCoinPrice predicts even less movement, as it anticipates DGB’s highest point in 2025 will be around the USD 0.06 mark.

Of course, it’s best to think of these price predictions as points to consider when making your own estimates, not as something that’s set in stone. 

If you want to maximize your returns, it’s also a good idea to remember that DigiByte has a history of spiking after a prolonged period of low prices. Timing is crucial if you’re considering this approach.

There’s another approach, however: considering the long-term prospects of DigiByte and making your investment decisions based on that. So that’s what we’ll consider next.

 

Long term perspective: DigiByte price prediction 2040

When considering a long-term view, you need to look at the fundamentals. DigiByte price history in 2020 will have little effect on its 2040 price prediction, but its fundamental strengths will still be there.

Keeping this in mind, let’s recap the main advantages of DigiByte.

  • DGB has been around for a long time, and it’s an established crypto by now. At the very least, this shows that DigiByte can survive crypto winters and retain investor interest;
  • Despite its age, DGB is still actively developed. In particular, DigiByte boasts a number of security-oriented features;
  • It’s not just a token, it’s an entire platform. There’s a DigiAssets layer on top of the blockchain which can be used for dApps and new tokens. The DigiMetaverse project has been launched on this platform, and it may be something to keep an eye on;
  • DigiByte is completely open source and highly decentralized. There’s no single entity that could fail and take DGB with it; even if the DigiByte Foundation was to close its doors, the next group of volunteers could simply pick up where they left off;
  • If you’re considering DGB as an investment, note that there’s a limit on the number of DGB tokens – when all the tokens are minted, this may push their price higher.

There are also a number of things that aren’t necessarily disadvantages but should be kept in mind.

  • DGB is developed and promoted exclusively by unpaid volunteers. This isn’t a bad thing and, depending on your point of view, may even be a great advantage. It does mean, however, that DGB does not have the development and marketing budgets enjoyed by some other cryptos;
  • DigiByte uses the older Proof-of-Work consensus mechanism. Some very successful cryptos use this mechanism, most notably Bitcoin and Ethereum, but the general consensus seems to be moving towards the newer Proof-of-Stake mechanism;
  • As a result, DigiByte cannot be staked. If you HODL some DGB, you cannot earn passive income by staking;
  • Actually getting your hands on some DGB tokens can be tricky. It is listed on a couple of major crypto exchanges, but many others do not sell it;
  • Despite its respectable age, DGB remains relatively unknown. This may mean that it’s ready to become an overnight success any day now, and it may also mean that it will remain in relative obscurity for years to come;
  • Being a relatively unknown platform, DigiAssets sees few dApps. If a platform is to succeed, it really needs some good and popular apps, and DigiAssets has problems with these.

So there you have it. DigiByte is an established, trusted token with a dedicated community that appreciates its idealistic approach. It has been able to reach several all-time highs in a row – and, with good timing, you could get some remarkable returns. It has not, however, been a hit with the mainstream audience – but this may change, particularly with DigiMetaverse.

Once again, we highly encourage you to dig deeper. Check out our other blog posts for more deep dives on tokens, concepts, and technical details. Track the latest crypto prices with our handy DigiByte calculator and DGB price tracker. And, of course, you can always rely on Paybis for all your crypto needs!

 

FAQ

If DigiByte is so old, why isn’t it more popular?

There are a number of factors here. Probably the most important one is that DigiByte is a volunteer effort without large marketing budgets or celebrity endorsements. This means there’s less visibility and less demand, crypto exchanges see less incentive to list it, and there’s less liquidity.

 

Will DigiMetaverse push DGB higher?

DigiMetaverse is a separate layer built on top of the DigiByte blockchain, and it comes with its own token. Having said that, it’s very likely that its success would also be good for its underlying platform, namely, DigiByte. Remember, though, that Metaverse in general and DigiMetaverse in particular are still in very early stages.

 

Will DigiByte disappear?

DigiByte has been around for a long time, and it has weathered many ups and downs in the crypto market. It is also completely open source and decentralized, so there isn’t one single authority that could pull the plug. For DigiByte to disappear, it would have to be completely abandoned by its entire community, which is extremely unlikely.

 

Can DigiByte hit the USD 1 mark?

Technically, there’s no reason why it couldn’t; this would place it among Top 15 cryptos by market cap. Crypto world often is volatile, and DigiByte has seen strong price spikes before. The usual caveats still apply: past performance does not guarantee similar results in the future, so trying to predict certain price points is always tricky.

 

Should I invest in DigiByte?

Once again, all investment decisions are your own, and they very much depend on what you want to achieve. If you’re looking for an established token that’s still relatively unknown, DigiByte may be well worth your attention. It may surprise on the upside, but, of course, there are no guarantees.