A few weeks ago, it emerged that the U.S was investigating Bitfinex, for supposedly using Tether to cover up an $850 million hole. This brought back the never-ending issue of Tether and its fiat backing. Then 2 days ago, Chico crypto, an investigative crypto YouTube channel, came up with an interesting investigative piece. It argued that Tether could be the key driver behind Bitcoin’s price movements, and that major exchanges and key personalities in crypto are in on it.
All this points to one thing, the whole issue around Tether and its role in the market could be close to being revealed. If it emerges that it is a huge case of market manipulation and the U.S decides to act, it could have a huge impact on the market. It would create a scenario where investors would be unsure of which cryptos to trust, as safe and reliable investments.
In such a scenario, one low ranking crypto could actually stand out to be a big winner. That crypto is none other than Digibyte (DGB). Why you may ask? Well, if market manipulation ends up threatening the market, those not running away from crypto entirely would be looking for a crypto that truly adheres to decentralization, as it was envisioned by Satoshi Nakamoto.
Digibyte happens to be one of the few that have stayed the course on this front. Digibyte (DGB) still remains one of the most decentralized in the market, with over 200k nodes all across the world. It is also not listed or in cases where it’s listed, not heavily traded on exchanges that could be tied to market manipulation. In fact, most of Digibyte (DGB)’s volumes come from exchanges like Bittrex, a regulated American exchange. This is a plus, in terms of adding to its credibility in an uncertain market.
In essence, in a scenario where the market implodes due to manipulation, Digibyte (DGB) could easily experience a huge surge in demand pushing up its price like a rocket ship. However, even if Digibyte were to drop sharply together with everything else, it would still emerge a big winner once the market finds equilibrium. That’s because, in such a scenario, the big question that would arise is, what is the whole point of crypto? What’s the point of having a parallel system that mirrors the existing centralized system, but much more volatile and unstable? Such questions would drive the reorganization of the entire market, with decentralization, transparency and security being a top priority.
This would see cryptos like DGB, which is now trading in the lower half of the top 100 rise to become one of the most important in the market. Staying true to the ideals of decentralization would pay off big time. Therefore, it is safe to conclude that Digibyte (DGB) is one of the cryptos that have the fuel to sustain into the distant future. Its future as an investment makes lots of sense.