The Digibyte community has in the past made several petitions to have the coin listed on Binance. However, yesterday that dream pretty much went under, after a tweeter outburst by Jared Tate directed at the Binance CEO. Jared’s outburst was with regards to the CEO’s comments on DocuSign, and his supposed ignorance of Digusign. Jared took a jab at Binance, implying that it accepts payments in order to list scammy tokens. Take a look at the tweet below.
Jared’s tweet has been received with mixed reactions from the Digibyte (DGB) community, with some feeling like it has sunk any hopes of Digibyte (DGB) of getting listed on Binance. The big question now is, does Digibyte (DGB) need Binance?
Well, in the short-term, there is a good chance that Digibyte needs Binance, and all the other big exchanges. That’s because these exchanges do come with an increased level of publicity that can help spur demand. There is a reason why coins are always angling to be listed on exchanges such as Binance and Coinbase. The marketing that comes with such listings is incredible. It makes more people aware of a crypto, thereby driving up demand. If it wasn’t important, coins would not be willing to part with millions of dollars to get listed.
However, in the longer-term, Digibyte might not need Binance. That’s because the future is in decentralized exchanges. Thanks to atomic swaps, the future of cryptos will be in peer-to-peer transfers without the need for a 3rd party. It is not only cheaper, but also more secure. This year alone, several major exchanges have been hacked or faced hacking attempts. There are no guarantees that centralized exchanges will not be a target for hackers in the future. There is also the fact that most centralized exchanges now require KYC, which pretty much eliminates the whole idea of exchanges in the first place. As decentralized exchanges start to gain in market dominance, strong altcoins like Digibyte that are not so much reliant on hype will thrive.
But even in the short-term, it is not all doom and gloom for Digibyte now that Binance is out of the question. Digibyte (DGB) is already listed on several major exchanges, and more are listing it. As such, the market accessibility of Digibyte (DGB) is still on track. Anyone who wants to buy Digibyte really can’t have lack of access as an excuse. Actually, more fiat pairings for DGB now not only makes it more accessible but also puts it on a path to decoupling from Bitcoin.
On top of that, Jared’s jab at Binance and the publicity it has received is good marketing for Digibyte. It always said that there is nothing like bad publicity. There is someone somewhere who didn’t know about Digibyte (DGB) but they now know about it. Such individuals will explore DGB more, and learn of its strength in the blockchain ecosystem.
This tirade has also presented Digibyte (DGB) as a crypto that is driven by integrity, and unwilling to pay just to get publicity. This could play a huge role in its long-term adoption. That’s because for businesses to shift from centralized systems to decentralized ones, it will take more than just technical superiority. The trustworthiness and transparency will be a huge factor too. In essence, this whole issue could be a win for Digibyte in disguise.
At the moment, Digibyte (DGB) is trading at $0.025 and is up by over 4% and ranks 34th on coin market cap. It’s showing signs of positive growth in spite of the radically diminished chances of getting on Binance. It’s a sign that Digibyte is strong and unaffected by exchanges.