DigixDAO jumps to $791M market cap despite general crypto market downtrend.
January 2018 has been a volatile month for cryptocurrencies worldwide, with major news developments including increased South Korean regulation, Facebook banning cryptocurrency advertising, India pushing toward a crack down, and news of Tether and Bitfinex subpoenas.
This has served to temper some of the wild excitement and runaway speculation we saw at the end of last year. Jan. 31 and Feb. 1 in particular held another hard drop for cryptocurrencies, with Bitcoin dropping below $8.5K.
Within that, one blockchain-based cryptocurrency network, DigixDAO has managed to actually grow more than 50 percent on a day when Bitcoin saw market reductions of -15 percent and Ethereum saw -20 percent reductions. At the time of this writing, DGD is the only cryptocurrency in the top 100 (by market cap) not in the red.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
What is DigixDAO?
Much has been made of Bitcoin functioning as a store of value akin to gold, but Digix literally tokenizes gold on the Ethereum blockchain. DigixDAO was the first crowdsale conducted via Ethereum and the first major Ethereum-based Distributed Autonomous Organization (DAO).
DGX vs. DGD
The Digix network has two related native assets: Digix Gold Tokens (DGX) and Digix DAO Tokens (DGD).
