DigiByte DGB Price Surges 35% After Getting Listed On Binance

DigiByte DGB price surged right after the biggest crypto exchange Binance announced its listing on the platform, so let’s see further in the upcoming altcoin news.

The blockchain network Digibyte DGB, saw its price skyrocket after getting listed on Binance earlier today. The exchange-listed the token without any demands from the company and without having to require a listing fee.  DGB is a decentralized cryptocurrency network that wanted to compete with Bitcoin back in 2013 but it only now got listed on Binance.

We would like to welcome the @Binance traders to the #DigiByte community.
For more info, please see our website:https://t.co/JpyDRWBmr4
Also have a look at the wallets that supports $DGB:https://t.co/ASFNYX2k5c

— DigiByte (@DigiByteCoin) June 22, 2020

The exchange announced the news in a new blog post earlier today saying that DGB trading will be open at 2:00 PM UTC. Binance’s users will also be able to trade DGB against three pairs: BNB, BUSD, and BTC. According to Digibyte, the crypto exchange Binance listed the coin with no demands from the company and without requesting a listing fee. This marks a huge step forward for the company as this is not the first time Binance wanted to list the coin. The founder of Digibyte Jared Tate reported previously that Binance requested a $300,000 listing fee with 3 percent of all DGB in circulation in order to list the coin. The exchange said that the circulating supply percentage will be used as insurance for their customers against defects and possible hacks.

Getting listed on a big trading platform such as Binance is of major importance for DigiByte. Despite being one of the oldest cryptocurrencies created in 2013, the network had a lot of trouble gaining momentum and mainstream adoption to find support on some of the larger exchange platforms. The coin reacted strongly to the listing and saw its price increase by about 30 percent in a few hours after the news broke. DGB reached $0.022 and is now trading at $0.233 but it is still lower from the all-time high of $0.135 in 2018.

While the enthusiasm seems to have dampened around the $0.022 price point, forcing DGB to enter a new consolidation phase will result in a much more realistic price but it did manage to lift the coin out for the ditch that it entered during the second half of June. As previously reported, The acrimonious relationship between the founder of DigiByte and the larger forces of Binance (and Poloniex which is now managed by TRON) traces back to a different era in the crypto industry. In 2017, the Binance news showed that the exchange was growing by leaps and bounds and was on a way to become the most popular altcoin exchange in the world. Being listed on it was like having a license to print money.