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Digibyte is a platform for asset creation, and it’s a proud owner of the world’s longest blockchain. It was created in 2013 and has been operating successfully ever since. It’s more similar to Ethereum than Bitcoin, as it can also be used for smart contracts, dApps, and secure authentication. At the heart of the platform is DGB, the platform’s native cryptocurrency that has been actively traded for years.
The real question here is: should you consider DGB a good investment opportunity? What will happen with the project and the crypto in the near future? Let’s find out.
How Does Digibyte Work?
Before they became part of the Digibye protocol, the five algorithms had been aimed at improving Bitcoin’s blockchain and its security, transaction speed, and overall capacity. However, they were then used for creating a stand-alone cryptocurrency.
You can think of Digibyte as a modification to the Bitcoin blockchain, which has much better security, capacity, and speed. The five algorithms governing the network ensure that ASIC miners cannot usurp too much power and affect decentralization in any way. Digibyte was later turned into a full-scale platform named DigiAssets, which allowed the launching of digital assets and the development of decentralized apps with corresponding smart contracts.
Governance structures are operated by volunteers, as the central philosophy of the network is to remain open-source and accessible to the public. Miners validate the blockchain and receive DGB as payment, much like in Bitcoin.
How Has the Price of Digibyte Been Changing From Year to Year?
DGB has been actively traded for a long time — since 2014. Looking at the year-to-year chart, one can clearly distinguish the breakout point for this cryptocurrency — May of 2017. Before that day, the price was never above $0.0007. In some cases, it went as low as $0.00002, with the all-time low ($0.00002028) being recorded on December 20, 2014.
As of May 2017, things started looking better. The huge price increase in May 2017 took place because of the first wave of the crypto investment craze which started that year. The average price for 2017 was $0.0121013. This further increased to $0.0319 in 2018. The average price in 2019, 2020, and 2022 was between $0.01 and $0.02, with 2021 being the only exception. During that year, the average DGB was $0.0589361, according to CoinLore. In 2022, the coin has been trading at around $0.01.
Overall, there have been some bumps on the road, but Digibyte has been displaying an increase in price over the long period.
Digibyte Price Prediction for the Nearest 5 Years
Let’s see what some leading sites say about the Digibyte price prediction.
According to PricePrediction, the price of DGB will increase to $0.015 per unit in 2023. In five years, the average price will be $0.07, with the possibility of increasing up to $0.079. Overall, PricePrediction is pretty positive about the price of the popular coin in the future. In fact, it claims that the price will increase to $0.21 by 2030.
DigitalCoinprice suggests that the price will also increase to $0.015 in a year, but the five-year forecast looks somewhat different. Namely, the price will increase to $0.028 by 2027, which is not as optimistic but still a positive prediction. This site suggests the price of DGB will go up to $0.0497 by 2030.
Cryptopolitan is perhaps the most bullish of all, claiming that the average Digibyte price will reach $0.1 by 2027 and $0.34 by 2030.
Is Digibyte a Good Buy?
Despite ongoing ups and downs, DGB has been steadily growing over the years. The price prediction platforms all agree there’s room for growth, and the predictions only differ on how much the price will increase.
So, should you buy Digibyte? All predictions say yes, but don’t forget that they’re just that — predictions. In other words, we advise doing further research on your own to understand how the price will likely change in the future.