DigixDAO Has Added 13.9% In The Past 7 Days

The DigixDAO cryptocurrency is in the latest news for trading down 3.2% against the dollar during the past couple of days but overall, maintaining a solid trend with 13.9% gains in the past 7 days. DigixDAO has added a lot to its price and right now, one such token can be bought for $46.76 or  0.00472314 BTC on major exchanges such as Bancor Network, Binance, Liqui and Cobinhood.

The coin has a total market cap of around $93 billion and $2.52 millions of it have been traded on platforms over the past 24 hours. What is interesting to mention is the hashing algorithm that this cryptocurrency is using. Its genesis date was April 28th, 2016 and DigixDAO’s total supply is 2,000,000 tokens.

While DigixDAO has added around 13% to its value in the past week, many news sites think that this is only the start for the DAO token which is built on Ethereum. We can clearly see that the altcoin news are promoting tokens in the Ethereum ecosystem lately and their gains are maximized on numerous platforms.

Investors seeking to acquire DigixDAO should first buy Bitcoin or Ethereum using an exchange which deals in US dollars such as GDAX, Coinbase or Gemini. Then, they can use their newly acquired Bitcoin or Ethereum to buy DigixDAO on the same exchanges (as mentioned before).

At the end of January this year, there were some talks about investors which doubled their funds by killing DAO – something suspicious happening considering the doubled price of this token and how DigixDAO has added so much in a short period of time.

As reported before, DigixDAO proposed the introduction of a dissolution mechanism to DigixDAO in late November, which is impartial to DGX and Digix (they will continue to remain.) The proposal called ‘Project Ragnarok’ is a result of dissatisfied DGD holders’ comments who want to “make a clean break from DigixDAO” as the Project Ragnarok FAQ sheet explains.

This is why DigixDAO has voted to liquidate its $64 million treasury and will be returning all ETH to the initial coin offering (ICO) investors. This will involve unstaking as well as giving back 0.19 in ETH per DGD while the remaining DGD in circulation will be destroyed, as per the latest Ethereum news.