DigitalBits price prediction: What is DigitalBits (XDB)?
By Peter Henn
08:28, 13 October 2022
It aims to make it easier for companies and organisations to get involved in the blockchain but, in terms of crypto, what is digitalbits (XDB)? Let’s see what we can find out about the platform and its native token, and take a look at some of the digitalbits price predictions that were being made on 13 October 2022, too.
DigitalBits explained
One of the things that might make cryptocurrencies attractive to a certain sort of investor is the way in which it is, at least in theory, independent. Since one of the key drivers of the financial application of blockchain technology is decentralised finance (DeFi), then it follows that blockchains themselves are decentralised. This means that a blockchain, at least in theory, should be removed from such centralised concepts as central banks or other financial and governmental institutions.
What does, however, remain a somewhat moral grey area for cryptocurrency and the blockchain, depending, at least to a certain extent, is the nature of the relationship between the blockchain as a monolithic entity – even if, in truth, there are hundreds if not thousands of different individual blockchains – and large companies and corporations. While the nature of the blockchain itself might well look like a rather arcane place with a whole load of dense technological rules and regulations it did, ultimately, give birth to something that ended up giving a lot of organisations a reason to take an interest in blockchain technology.
Non-fungible tokens (NFTs) are rights to links to individual pieces of, usually digital, art that can be bought, sold, traded and collected. They went through a real boom period at the end of 2021 and, while their popularity has decreased somewhat since then, they are still a crucial sector in the world of crypto. Something that makes them somewhat notable is that there are more than a few organisations, whether from the worlds of sport, heritage or business, that have decided to either, depending on how you look at it, join the party or jump the bandwagon. Following that, it is entirely possible, if not likely, that they will want to delve deeper into the worlds of the blockchain and cryptocurrency.
Now, as we have already said, it is likely that many of these non-blockchain organisations know quite how the blockchain works, which might well imply that they would not be exactly sure as to how to run a cryptocurrency, either. Therefore, it might appear as if there could be a gap in the market for an organisation that was able to, in effect, help them
DigitalBits is one such platform. Set up in 2018 by the Canadia entrepreneur Al Burgio as a fork from the Stellar (XLM) blockchain protocol, the system aims to get companies onto the blockchain to help them to promote their product and create related programs, including customer loyalty schemes.
As the whitepaper says: “Blockchain technology has to target a pre-existing legacy market that already possess billions of user accounts globally in a digital asset category; Not to create a competing tokenised digital asset, but instead to transform these legacy digital assets into tokens on a public blockchain with key functionality that benefits both consumers and the enterprise-issuers of these digital assets.”
Every blockchain-based organisation needs to have its own native token, and DigitalBits has the conveniently-named digitalbits token, also known by its ticker handle XDB. Users have to stake a small amount of XDB in order to access the network, while transactions on the DigitalBits blockchain incur a transaction fee, payable in XDB. The system also uses XDB as a way to pay for things on the network.
While DigitalBits was initially set up in 2017, it was not until 2019 that the system’s native coin first came onto the open market.
Digitalbits price history
XDB price history from launch to present - Credit: CoinMarketCapLet’s now cast our eyes over the XDB price history. While past performance should never be taken as an indicator of future results, knowing what the coin has done in the past can help us if we want to either make a digitalbits price prediction of our own or to interpret one that already exists.
When XDB became readily available in September 2019, it was worth about $0.015 and it pretty much stayed around that level for a little over a year as the market went through a so-called crypto winter. Things started to turn around in early 2021, as the market entered a boom period and XDB reached heights of above $0.12 in May that year. Over the summer of 2021, both the market and digitalbits slumped, but things turned around from August, when a growing interest in NFTs boosted the market and the XDB price went through a growth spurt that saw it break $0.60 in September. Another period of bullishness took place in November, as bitcoin (BTC) reached new highs and prompted digitalbits break through the dollar barrier to reach an all-time high of $1.03 on 16 November. After that, though, things simmered down somewhat and it closed the year at $0.4228.
Although there was some cause for optimism about XDB at the start of 2022, with a rally to $0.676 on 24 March a real highlight, things soon turned bad. A series of market crashes left the coin winded and it went on a long downhill run, dropping below the cent in late August bottoming out at a nadir of $0.001555 on 16 September. Since then, there has been a slight recovery and, on 13 October 2022, it was worth about $0.0123. With a circulation of 1.39 billion, pretty much representing the total supply, it had a market cap of around $17m making it the 614th largest crypto by that metric.
Digitalbits price predictions
With that all said and done, let’s take a look at some of the digitalbits price predictions that were being made as of 12 October 2022. It is important to note here that price forecasts, especially for something as potentially volatile as cryptocurrency, very often turn out to be wrong. Also, you should remember that many long-term price predictions are made using an algorithm, which means that they can change at a moment’s notice.
First, CoinCodex made a short-term digitalbits price prediction for 2022 that suggested the coin could drop to $0.012025 by 18 October and fall even further to $0.004721 by 12 November. At the same time, though, the site’s technical analysis for the coin was neutral, with 17 indicators sending bullish signals compared to 12 sending out bearish ones.
Next, CaptainAltCoin had an XDB price prediction which suggested that things could get worse before they got better, with the crypto sinking to $0.0064 in December 2022 before rising somewhat to $0.0111 in October 2023. By 2025, though, the site said that the growth of digitalbits could be such that it reached $0.0191, before suggesting it could drop to $0.0171 in October 2027. The site then argued for an upbeat digitalbits price prediction for 2030, with the coin potentially trading at $0.0478, before making a digitalbits price prediction for 2040 of $0.0957.
Meanwhile, CoinsKid had a digitalbits coin price prediction that suggested that XDB could close 2022 at $0.0129. The site then went on to argue that the coin could reach $0.0213 in October 2023 before reaching $0.0285 12 months on from then. The site’s digitalbits price prediction for 2025 saw it potentially start the year at $0.0323 before trading at $0.036 in October and closing the year at $0.0367.
Finally, WalletInvestor made a digitalbits crypto price prediction that saw disaster looming for the coin. The site said that XDB could lose a large proportion of its value over the coming year or so, with it potentially trading at a mere $0.000224 by October 2023.
When considering an XDB coin price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
FAQs
Is digitalbits a good investment?
It is difficult to tell. A lot will depend on how both the NFT market and the overall world of crypto behave in the coming months and years.
Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear markets. So investors should be prepared to make losses and never purchase more than they can afford to lose.
Will DigitalBits go up or down?
It is hard to say. While sites like CoinsKid are optimistic, the likes of WalletInvestor are rather more downbeat when it comes to their assessment of the future digitalbits price. Either way, you should remember that price predictions very often turn out to be wrong, and that prices can go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether XDB is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in DigitalBits?
Before you make a final decision as to whether or not to invest in XDB, you should make sure to research both NFTs and the general crypto market.
Ultimately, though, this is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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