Comprehending the recent advancements by the Digitex futures.
What are futures?
The Futures, as a financial commodity has become quite talked about, in the cryptocurrency space with the inception of Bitcoin Futures and Exchange Traded Funds. Futures is nothing but a financial contract between a buyer and seller who agree to undertake a transaction in the future by fixing the date and price of the commodity. By doing so, the buyer or the seller can enter a safe zone, by locking the price of the commodity, if the commodity is volatile for any reason. In particular, the Bitcoin Futures have helped in an increase of market liquidity with respect to Bitcoin.
Digitex futures and it’s ICO
Many Future exchanges have been initiated in the Crypto domain, as the popularity and demand increased. One such Bitcoin futures exchange is the Digitex futures. It interestingly incorporates a zero commission transaction fee model, as the users need not pay, any kind of transaction fee. The exchange offers its customers to undertake transactions with respect to Bitcoin, Ethereum, and Litecoin against the US dollars. The exchange had even initiated an Initial Coin Offering, as the future exchange is blockchain based, and had managed to raise almost $5,000,000 within a matter of 20 minutes, on 15th January 2018. The figure speaks for itself, about the demand and popularity of the exchange.
The announcement made by the CEO
The customers have to wait for sometime, as the exchange is not yet ready to undertake Commission fewer transactions. Recently in an announcement made by the CEO, Adam Todd uncurled that as we are in the last quarter of the Year, the developmental team was working to make the exchange available for the people, within a matter of 2 to 3 months. In fact, the native token of the exchange, DGTX is currently available to be traded on various popular exchanges. More recently, it has added the Mercatox exchange, in its list where the DGTX tokens would easily be available. The exchange offers its users a minimal transaction fee in order to trade the DGTX tokens, against Bitcoin or Ethereum.
The Digitex Futures at Malta blockchain summit
The CEO also revealed that, at a blockchain Summit, in particular, the Malta Blockchain Summit, which is going to be held in the blockchain valley of the world, Malta, the team members would be addressing their enthusiasts and also would be giving a demo of the feel of undertaking a transaction on the Digitex futures exchange. The 2-day event, on November 1st and 2nd, would be a great opportunity for the Digitex futures team members in order to pitch their ideas before 5000 delegates and over 200 prominent investors of the Crypto domain.
The recent price spike of the DGTX tokens
The cryptocurrency market is highly volatile and the tokens or coins, with some fundamental use case, doesn’t take much time to cement some of the top positions in the market. In a similar way, the DGTX tokens entered the top 100 Crypto tokens recently, as a result of a 194% increase in its value within a time window of two weeks. The store is prominently due today buying pressure of the DGTX tokens, against Ethereum. Despite being available on only two of the Crypto exchange namely, Mercatox and Exrates, the coin has experienced a 2000% increase since it’s trading which began in May 2018.
In order to understand the future of Digitex futures exchange, let’s try to analyze the price from July 2018.
Digitex futures token was trading around $0.0066, during the initial days of July. And not much activity was observed as the price young touched only the $0.0068 level by the end of the month.
The month of August was quite optimistic, as the price rose from $0.007 to $0.017.
Even in the month of September, the prices of DGTX tokens red clay consolidated little bullish momentum in the last week where are the prices reached almost $0.035 from $0.019.
The month of October has been very supportive as the price has skyrocketed with 200% gain within the past two weeks. $0.0344 to $0.143425.
Gaining so much value within a duration of 5 months is a great achievement as the trading was initiated in just May ending.