Digital currencies are trying everything to set themselves apart from the competition and DigixDAO (DGD) is no different. Unlike most cryptocurrencies that stake their future on the utility of digital money, DGD has taken a slightly different tack. DGD has done this by creating two versions of it. DGX is a digital token created specifically for investing in gold, the real world commodity.
This functionality creates both niche appeal and a real distinguishing function for digital token users. At present 1 DGX is fixed at 99% of LBMC-approved gold. Gold acquired via the DGX token is stored in Singapore under the strict international bullion storage standards. DGX is currently setup to benefit the small-scale investor that wishes to invest in gold but it’s easy to see wider integration attracting bigger players down the line.
The other token that represents DigixDAO in the marketplace is its token which trades under the symbol DGD.
DGD is the engine for investors looking to benefit from the token’s place in the marketplace and so far it is doing a fine job of attracting attention from investors. In the last day of trading DGD is one of the few tokens that seem to be holding positive valuation. The token currently trades for around $340, a sizable valuation given the price of most other digital currencies that fall out of the top names (BTC, ETH etc.). DGD has a market cap of $681M and a 24-hour trading volume of $31M.
DGD has come way a long since trading flat for the majority of 2016 and the early parts of 2017. As a matter of fact, it wasn’t until May 2017 that DGD rose to around $61, igniting a flurry of interest from digital currency investors. The token remained relatively stable above $60 for the rest of 2017, eventually crossing the $150 mark on November 2017. DGD has trended higher since hitting the $150 high and took things up another level when it reached a high of $177 on December 21, 2017. That was the clearest sign that investors were taking and interest over the long term in what DGD could do. By the start of 2018 the interest had crystalized, making DGD a bona fide digital token.
Presently the token is maintaining its high-flying status, although it still hasn’t achieved the popularity of some of competing tokens. At current valuation of $340 DGD is one of the highest priced digital tokens on the market.