Digitex Futures

Digitex Futures Is Going Strong in 2021 – by CoinCollector

Digitex Futures
Trading
• Digitex
April 8, 2021

With so much action surrounding the price of Bitcoin (BTC) and Ether (ETH) this year, naturally more and more people are interested in profiting from the volatility. Trading futures is an excellent way to do this since you can make money whether the price goes up or down–as long as you make the right call. And, if you trade on a zero-fee exchange, you get to keep all of your profit. 

But don’t just take our word for it. Check out this awesome YouTube video by CoinCollector, a frequent trader from the Digitex community. He explains why he uses Digitex Futures as his platform of choice, and walks through some of the features that make it so unique. Check it out:

Zero Fees

CoinCollector says that he has used many different exchanges for trading cryptocurrency futures but that he always comes back to Digitex because of its zero-fee commission structure. On no other exchange can he actually execute the same type of aggressive scalping strategies that he can on Digitex because the fees prevent him from doing so.

He goes on to say that trading without fees will “change the game of how your trade.” If you are trading with fees, he says, you have to be more careful. Digitex lets you trade more aggressively since you can easily go in and out of trades and even enter or exit your trades at the exact same price without paying any fees. 

If you did that on any other exchange you would have to pay a “ton of fees” that would eat up any profit you would have made. “You would be shocked by how much money you can save without paying any fees,” he says.

One-Click Trading Ladder

He also loves the trading ladder interface which is still unique to the crypto space. He shows us how he manages his trades “so easily” on the new UI that was updated last month. “Trading on this exchange is something that is so easy,” he says, as he walks through placing a trade, changing the leverage, and setting a limit order.

He also says that, in the last couple of months, he has taken his account balance from 200K DGTX tokens to a whopping 3.2 million DGTX just from trading. This interface is “super intuitive and a lot of fun,” he enthuses.

The DGTX Token

CoinCollector reminds viewers that all trading on the Digitex exchange takes place in our native exchange token DGTX. So, if you want to participate in our commission-free markets, you must own DGTX tokens first. All profits and losses on the exchange are settled in DGTX, and all account balances are denominated in DGTX. Having our own token for trading on the exchange enables us to sustain a commission-free trading environment for all. You can find out more about DGTX tokenomics here.

Liquidity Mining Program

As well as allowing you to keep all your profit from gains made on the exchange, Digitex pays you to place orders via our Liquidity Mining program. This is something that no other exchange allows you to do. “You can make money by simply providing liquidity to the order book,” CoinCollector explains. 

In order to reward our traders and increase liquidity on the exchange, our system takes a snapshot every minute and pays out DGTX rewards based on how many orders you placed that were close to the spot price at that time. You can easily check your profits by selecting the “Liquidy Mining” tab in the interface. CoinCollector shows you how to do this.

Zero-Fee Spot Markets Coming Soon

Coming very soon to Digitex are the zero-fee spot markets, which will be “very very cool.” This major upgrade will allow you to buy and sell your DGTX directly on the exchange without having to use another platform. You can start trading easier and sell quicker so that you are not exposed to the volatility of the token. 

“I think this will bring some new dynamics to the token,” he says. “This is the main thing that’s missing, it will be cool because you can quickly sell DGTX to USDC and avoid volatility, or you can choose to hold DGTX if you think the price may go up. It’s up to you.”

Wrapping It Up

CoinCollector says that he’s very bullish on the outlook for Digitex for the rest of the year. He points out that in-house trading bots are coming soon to make it even easier to set up a trading bot and maximize your rewards from liquidity mining–and that a DGTX Staking program is also on the roadmap and should be very popular.

He concludes by saying that you will notice how much easier it is to make profit than on other exchanges. “The potential for Digtex is very very huge given how the overall market is riding right now… What better thing to do than to put your trading volume to work on a zero fee exchange?”

A big thank you to CoinCollector for taking the time to make this awesome video. We’re glad to hear that you’re enjoying trading on the platform–and making spectacular gains to boot!

Are you ready to start trading BTC and ETH futures with zero fees and grow your trading balance exponentially like CoinCollector? Sign up for an account here now.

 

April 8, 2021
Digitex Futures
Trading

Digitex Futures Is Going Strong in 2021 – by CoinCollector

Digitex
Digitex Futures

With so much action surrounding the price of Bitcoin (BTC) and Ether (ETH) this year, naturally more and more people are interested in profiting from the volatility. Trading futures is an excellent way to do this since you can make money whether the price goes up or down–as long as you make the right call. And, if you trade on a zero-fee exchange, you get to keep all of your profit. 

But don’t just take our word for it. Check out this awesome YouTube video by CoinCollector, a frequent trader from the Digitex community. He explains why he uses Digitex Futures as his platform of choice, and walks through some of the features that make it so unique. Check it out:

Zero Fees

CoinCollector says that he has used many different exchanges for trading cryptocurrency futures but that he always comes back to Digitex because of its zero-fee commission structure. On no other exchange can he actually execute the same type of aggressive scalping strategies that he can on Digitex because the fees prevent him from doing so.

He goes on to say that trading without fees will “change the game of how your trade.” If you are trading with fees, he says, you have to be more careful. Digitex lets you trade more aggressively since you can easily go in and out of trades and even enter or exit your trades at the exact same price without paying any fees. 

If you did that on any other exchange you would have to pay a “ton of fees” that would eat up any profit you would have made. “You would be shocked by how much money you can save without paying any fees,” he says.

One-Click Trading Ladder

He also loves the trading ladder interface which is still unique to the crypto space. He shows us how he manages his trades “so easily” on the new UI that was updated last month. “Trading on this exchange is something that is so easy,” he says, as he walks through placing a trade, changing the leverage, and setting a limit order.

He also says that, in the last couple of months, he has taken his account balance from 200K DGTX tokens to a whopping 3.2 million DGTX just from trading. This interface is “super intuitive and a lot of fun,” he enthuses.

The DGTX Token

CoinCollector reminds viewers that all trading on the Digitex exchange takes place in our native exchange token DGTX. So, if you want to participate in our commission-free markets, you must own DGTX tokens first. All profits and losses on the exchange are settled in DGTX, and all account balances are denominated in DGTX. Having our own token for trading on the exchange enables us to sustain a commission-free trading environment for all. You can find out more about DGTX tokenomics here.

Liquidity Mining Program

As well as allowing you to keep all your profit from gains made on the exchange, Digitex pays you to place orders via our Liquidity Mining program. This is something that no other exchange allows you to do. “You can make money by simply providing liquidity to the order book,” CoinCollector explains. 

In order to reward our traders and increase liquidity on the exchange, our system takes a snapshot every minute and pays out DGTX rewards based on how many orders you placed that were close to the spot price at that time. You can easily check your profits by selecting the “Liquidy Mining” tab in the interface. CoinCollector shows you how to do this.

Zero-Fee Spot Markets Coming Soon

Coming very soon to Digitex are the zero-fee spot markets, which will be “very very cool.” This major upgrade will allow you to buy and sell your DGTX directly on the exchange without having to use another platform. You can start trading easier and sell quicker so that you are not exposed to the volatility of the token. 

“I think this will bring some new dynamics to the token,” he says. “This is the main thing that’s missing, it will be cool because you can quickly sell DGTX to USDC and avoid volatility, or you can choose to hold DGTX if you think the price may go up. It’s up to you.”

Wrapping It Up

CoinCollector says that he’s very bullish on the outlook for Digitex for the rest of the year. He points out that in-house trading bots are coming soon to make it even easier to set up a trading bot and maximize your rewards from liquidity mining–and that a DGTX Staking program is also on the roadmap and should be very popular.

He concludes by saying that you will notice how much easier it is to make profit than on other exchanges. “The potential for Digtex is very very huge given how the overall market is riding right now… What better thing to do than to put your trading volume to work on a zero fee exchange?”

A big thank you to CoinCollector for taking the time to make this awesome video. We’re glad to hear that you’re enjoying trading on the platform–and making spectacular gains to boot!

Are you ready to start trading BTC and ETH futures with zero fees and grow your trading balance exponentially like CoinCollector? Sign up for an account here now.

 

Latest News

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 1

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies

Cryptocurrency
Crypto Industry
Trading
• Digitex
April 7, 2021

The Bitcoin trading volume is a crucial indicator for both cryptocurrency investors and traders.

According to a CoinDesk Markets survey, trading volume was ranked as the top indicator traders “couldn’t live without,” scoring 38% among all poll respondents.

Currently, the 24-hour BTC trading volume is standing at nearly $73 billion, which is up by 8% since the last day. 

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 2

But what is the Bitcoin trading volume, what does it tell us about the market, and how does it impact crypto trading strategies Let’s explore the answers to the above questions together in this article!

Bitcoin Trading Volume Explained

The Bitcoin trading volume measures how much BTC has been traded on cryptocurrency exchanges in a certain period of time (the most common timeframe is 24 hours).

For Bitcoin derivatives trading, the volume provides data about the number of futures or options contracts changing hands between buyers and sellers.

When buyers and sellers reach an agreement at a certain price for a trading pair (e.g., BTC/USD), the exchange facilitating the trade records the transaction and uses that data to calculate the trading volume for the digital asset.

For example, suppose Alice sells 1 BTC to Bob at $60,000. In that case, the facilitating exchange records a volume of either $60,000 or 1 BTC for the BTC/USD trading pair based on the currency the service uses for denominating it.

How Does the Bitcoin Trading Volume Impact Crypto Trading Strategies?

Whether you are day trading crypto or holding digital assets for the long-term, you can use the Bitcoin trading volume to gather valuable insights about the market.

For that reason, the Bitcoin trading volume has an impact on crypto trading strategies and the financial decisions of users.

Traders can use volumes to discover the following crypto trading signals:

  1. Confirm trends: During a bull market, a high trading volume with great enthusiasm from buyers is crucial to keep pushing prices upwards. For that reason, it’s usually a bullish signal when both the volume and the price are increasing. On the other hand, when a digital asset’s price is surging, but its trading volume is decreasing, it is a warning sign of an upcoming potential reversal.
  2. Exhaustion moves: Monitoring the trading volume is also an excellent way to identify exhaustion moves. Featuring a sharp move into any direction as well as a significant volume growth, an exhaustion move can indicate a trend’s potential end.
  3. Price reversals: After excessive price movements in either direction, a significantly high volume paired with minor changes in the price can indicate that a reversal is imminent, in which the asset’s value will move in the opposite direction.
  4. Dead projects: While there are over 9,100 cryptocurrencies present on the market, not all of them have active projects behind them. Monitoring the current and historical trading volume of a cryptocurrency is an excellent way to limit your risks by filtering out dead coins with very low daily volumes.

Closing Thoughts

When investing for the long term or day trading crypto, incorporating the Bitcoin trading volume in your strategy helps you discover crucial market trends and gather signals that support you to make the right decisions.

For that reason, it’s essential to adjust your crypto trading strategy to include the Bitcoin trading volume as part of your fundamental and technical analysis.

In the meantime, be sure to leverage your new digital asset trading strategies at the next-generation futures trading platform Digitex to trade crypto for free while enjoying the benefits of a robust exchange solution.

Also, you shouldn’t forget to check out DGTX, Digitex’s native exchange token, which you can buy now with a credit card

 

April 7, 2021
Cryptocurrency
Crypto Industry
Trading

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies

Digitex
4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 3

The Bitcoin trading volume is a crucial indicator for both cryptocurrency investors and traders.

According to a CoinDesk Markets survey, trading volume was ranked as the top indicator traders “couldn’t live without,” scoring 38% among all poll respondents.

Currently, the 24-hour BTC trading volume is standing at nearly $73 billion, which is up by 8% since the last day. 

4 Ways that Bitcoin Trading Volumes Impact Crypto Trading Strategies 4

But what is the Bitcoin trading volume, what does it tell us about the market, and how does it impact crypto trading strategies Let’s explore the answers to the above questions together in this article!

Bitcoin Trading Volume Explained

The Bitcoin trading volume measures how much BTC has been traded on cryptocurrency exchanges in a certain period of time (the most common timeframe is 24 hours).

For Bitcoin derivatives trading, the volume provides data about the number of futures or options contracts changing hands between buyers and sellers.

When buyers and sellers reach an agreement at a certain price for a trading pair (e.g., BTC/USD), the exchange facilitating the trade records the transaction and uses that data to calculate the trading volume for the digital asset.

For example, suppose Alice sells 1 BTC to Bob at $60,000. In that case, the facilitating exchange records a volume of either $60,000 or 1 BTC for the BTC/USD trading pair based on the currency the service uses for denominating it.

How Does the Bitcoin Trading Volume Impact Crypto Trading Strategies?

Whether you are day trading crypto or holding digital assets for the long-term, you can use the Bitcoin trading volume to gather valuable insights about the market.

For that reason, the Bitcoin trading volume has an impact on crypto trading strategies and the financial decisions of users.

Traders can use volumes to discover the following crypto trading signals:

  1. Confirm trends: During a bull market, a high trading volume with great enthusiasm from buyers is crucial to keep pushing prices upwards. For that reason, it’s usually a bullish signal when both the volume and the price are increasing. On the other hand, when a digital asset’s price is surging, but its trading volume is decreasing, it is a warning sign of an upcoming potential reversal.
  2. Exhaustion moves: Monitoring the trading volume is also an excellent way to identify exhaustion moves. Featuring a sharp move into any direction as well as a significant volume growth, an exhaustion move can indicate a trend’s potential end.
  3. Price reversals: After excessive price movements in either direction, a significantly high volume paired with minor changes in the price can indicate that a reversal is imminent, in which the asset’s value will move in the opposite direction.
  4. Dead projects: While there are over 9,100 cryptocurrencies present on the market, not all of them have active projects behind them. Monitoring the current and historical trading volume of a cryptocurrency is an excellent way to limit your risks by filtering out dead coins with very low daily volumes.

Closing Thoughts

When investing for the long term or day trading crypto, incorporating the Bitcoin trading volume in your strategy helps you discover crucial market trends and gather signals that support you to make the right decisions.

For that reason, it’s essential to adjust your crypto trading strategy to include the Bitcoin trading volume as part of your fundamental and technical analysis.

In the meantime, be sure to leverage your new digital asset trading strategies at the next-generation futures trading platform Digitex to trade crypto for free while enjoying the benefits of a robust exchange solution.

Also, you shouldn’t forget to check out DGTX, Digitex’s native exchange token, which you can buy now with a credit card

 

Latest News

bitcoin

The Volume on Our New Bitcoin Futures Market Is 20x Larger

Digitex Futures
• Digitex
September 30, 2020

After gathering community feedback last week, we found out that the majority of the community (66%) wanted to see the tick size changed on the BTCUSD futures market. So, true to our word, we put the $1 BTC market on the mainnet yesterday–and volume is going through the roof. We’re excited to say that the market is a hit with a current trading volume of over $200 million in less than 24 hours–20x larger than our original BTC market.

From the initial feedback, it’s clear that this market is going to be popular and, coinciding with 100x leverage also added, has helped to boost liquidity on the exchange. Of course, 66% is the majority, but there’s still a sizable amount of the community who voted to keep the $5 tick size. So, for now, we will keep both markets until further notice and watch how they perform together.

A lot of traders prefer the $1 BTC market because there is way more action and the smaller tick size means that the price moves around a lot more, creating unlimited scalping opportunities. This is where a zero-fee exchange really comes into its own allowing traders to rack up multiple small profits without their successful trades being wiped out by commissions–particularly at 100x leverage. This added movement also encourages more taker trades further lending liquidity. 

That’s not to say that there aren’t still benefits to be found in the $5 BTC market. It’s a more stable market, especially during times of extreme BTC volatility, and less intense, which appeals to many traders looking to capitalize on small movements without incessant price action on the ladder. We will be monitoring the two markets together and, if we see that liquidity is being divided or one market is significantly less popular than the other, we’ll assess whether we want to keep both markets running.

We also know that DGTX holders who were affected by the KuCoin hack last weekend are still anxious to know what’s going to happen next. We have already assured you that your funds will be returned to you but please bear with us as we are still in talks with KuCoin and waiting for their final confirmation for how we’ll proceed with getting tokens back to traders. 

Thank you for your patience and thank you to all the community for sharing so many helpful insights last week. We’re implementing your suggestions as we speak, so keep them coming! Together, we’ll make Digitex unstoppable.

September 30, 2020
Digitex Futures

The Volume on Our New Bitcoin Futures Market Is 20x Larger

Digitex
bitcoin

After gathering community feedback last week, we found out that the majority of the community (66%) wanted to see the tick size changed on the BTCUSD futures market. So, true to our word, we put the $1 BTC market on the mainnet yesterday–and volume is going through the roof. We’re excited to say that the market is a hit with a current trading volume of over $200 million in less than 24 hours–20x larger than our original BTC market.

From the initial feedback, it’s clear that this market is going to be popular and, coinciding with 100x leverage also added, has helped to boost liquidity on the exchange. Of course, 66% is the majority, but there’s still a sizable amount of the community who voted to keep the $5 tick size. So, for now, we will keep both markets until further notice and watch how they perform together.

A lot of traders prefer the $1 BTC market because there is way more action and the smaller tick size means that the price moves around a lot more, creating unlimited scalping opportunities. This is where a zero-fee exchange really comes into its own allowing traders to rack up multiple small profits without their successful trades being wiped out by commissions–particularly at 100x leverage. This added movement also encourages more taker trades further lending liquidity. 

That’s not to say that there aren’t still benefits to be found in the $5 BTC market. It’s a more stable market, especially during times of extreme BTC volatility, and less intense, which appeals to many traders looking to capitalize on small movements without incessant price action on the ladder. We will be monitoring the two markets together and, if we see that liquidity is being divided or one market is significantly less popular than the other, we’ll assess whether we want to keep both markets running.

We also know that DGTX holders who were affected by the KuCoin hack last weekend are still anxious to know what’s going to happen next. We have already assured you that your funds will be returned to you but please bear with us as we are still in talks with KuCoin and waiting for their final confirmation for how we’ll proceed with getting tokens back to traders. 

Thank you for your patience and thank you to all the community for sharing so many helpful insights last week. We’re implementing your suggestions as we speak, so keep them coming! Together, we’ll make Digitex unstoppable.

Latest News

crypto

High Interest in Crypto Derivatives is Bullish for DGTX

Trading
• Ali Martinez
May 12, 2020

The crypto derivatives market has grown in popularity over the years. As institutional investors flock to the industry, there has been an increasing demand for crypto futures, options, and swaps offerings. Indeed, new volume records are being set constantly due to the interest for such financial products.

Data from Skew reveals that despite the high levels of volatility seen recently as speculation mounted regarding Bitcoin’s halving, the aggregate BTC futures volume today accounts for more than $35 billion. 

Huobi is currently leading the charts with a trading volume of $8.2 billion in the past 24 hours. The Singapore-based cryptocurrency exchange is followed by OKEx and Binance, which reported volumes of $7.2 billion and $6.7 billion, respectively. 

Once known as the king of the crypto derivatives market, BitMEX has fallen down to the number four spot with BTC futures volumes of $5 billion. This cryptocurrency platform may have put a permanent stain on its reputation after the massive collapse of its liquidation engine during Black Thursday in March. 

High Interest in Crypto Derivatives is Bullish for DGTX 5

BTC Futures Volumes. (Source: Skew)

Regardless, the popularity of all of these industry leaders may enter a downward trajectory as Digitex Futures is set to disrupt the entire crypto derivatives sector. 

A New Player on the Block

The new trading platform led by Adam Todd will introduce a zero-fee trading structure into the crypto derivatives market. The commission-free exchange will enable traders and market participants alike to speculate on the future price of a given asset without taking a percentage of their profits. 

When taking into consideration the current industry leaders — Huobi, OKEx, Binance, and BitMEX — they all charge considerable trading fees. Although their fee structure may seem meaningless, it makes trading strategies like scalping impossible since profits are slowly eaten up by commission fees. 

The world’s largest cryptocurrency exchange by trading volume, Binance, for instance, charges a maker fee of 0.02% and a taker fee of 0.04% on its crypto derivatives trading platform, Binance Futures. While this may not look like much at a first glance, when trades are being made using 100x leverage, that quickly becomes 2% to enter and 4% to exit a position. 

These fees are even more significant in Huobi, OKEx, and BitMEX, which are charging 0.2%, 0.1%, and 0.075%, respectively. When added up, these commissions have the ability to wipe out a trader’s small profits.

Unlike any of these cryptocurrency exchanges, Digitex Futures will allow anyone to place as many long or short positions as they wish over and over again without incurring a single fee. This is a clear advantage for traders who want to capitalize even on the smallest market fluctuations. And, it will certainly open the gates to a new wave of demand for the DGTX token, which makes all of the above possible. 

Demand for DGTX Is Expected to Rise

Having the possibility to profit in every single movement of the market will even get the average Joe interested in trading. As users of Digitex Futures will rely on DGTX to have access to the platform, the demand for this utility token will likely shoot up. 

Such a bullish outlook coincides with what can be seen from a technical perspective.

The Tom Demark (TD) Sequential indicator is currently presenting a buy signal on DGTX’s 1-day chart. The bullish formation developed in the form of a red nine candlestick. Due to the recent price action, however, it transitioned into a green one candle. 

The aforementioned technical index estimates that a further increase in the buying pressure behind DGTX will validate the optimistic outlook. If so, this altcoin could be poised to surge for one to four daily candlesticks or begin a new upward countdown. 

High Interest in Crypto Derivatives is Bullish for DGTX 6

TD Setup Presents a Buy Signal For DGTX. (Source: TradingView)

Adding credence to the bullish outlook, the corrective phase that DGTX went through since early April allowed it to hit the 50% Fibonacci retracement level. Although DGTX barely touched the 38.2% Fibonacci retracement level as forecasted last week, around the 50% Fibonacci retracement level is where most of the price action took place.

Based on Gann’s 50% retracement theory, this Fibonacci level presents a crucial opportunity to “buy the dip.” If DGTX is able to bounce off this area with enough volume behind it, it could rapidly rise and reach higher highs. 

Otherwise, it may present another opportunity for sidelined investors to get back into the market. 

High Interest in Crypto Derivatives is Bullish for DGTX 7

DGTX Bounces Off the 50% Fib Level. (Source: TradingView)

With Bitcoin’s halving now written into the history books and Digitex Futures preparing to launch fully to the public this summer, it is just a matter of time before DGTX achieves its upside potential leaving competitors in the dust. 

 

May 12, 2020
Trading

High Interest in Crypto Derivatives is Bullish for DGTX

Ali Martinez
crypto

The crypto derivatives market has grown in popularity over the years. As institutional investors flock to the industry, there has been an increasing demand for crypto futures, options, and swaps offerings. Indeed, new volume records are being set constantly due to the interest for such financial products.

Data from Skew reveals that despite the high levels of volatility seen recently as speculation mounted regarding Bitcoin’s halving, the aggregate BTC futures volume today accounts for more than $35 billion. 

Huobi is currently leading the charts with a trading volume of $8.2 billion in the past 24 hours. The Singapore-based cryptocurrency exchange is followed by OKEx and Binance, which reported volumes of $7.2 billion and $6.7 billion, respectively. 

Once known as the king of the crypto derivatives market, BitMEX has fallen down to the number four spot with BTC futures volumes of $5 billion. This cryptocurrency platform may have put a permanent stain on its reputation after the massive collapse of its liquidation engine during Black Thursday in March. 

High Interest in Crypto Derivatives is Bullish for DGTX 8

BTC Futures Volumes. (Source: Skew)

Regardless, the popularity of all of these industry leaders may enter a downward trajectory as Digitex Futures is set to disrupt the entire crypto derivatives sector. 

A New Player on the Block

The new trading platform led by Adam Todd will introduce a zero-fee trading structure into the crypto derivatives market. The commission-free exchange will enable traders and market participants alike to speculate on the future price of a given asset without taking a percentage of their profits. 

When taking into consideration the current industry leaders — Huobi, OKEx, Binance, and BitMEX — they all charge considerable trading fees. Although their fee structure may seem meaningless, it makes trading strategies like scalping impossible since profits are slowly eaten up by commission fees. 

The world’s largest cryptocurrency exchange by trading volume, Binance, for instance, charges a maker fee of 0.02% and a taker fee of 0.04% on its crypto derivatives trading platform, Binance Futures. While this may not look like much at a first glance, when trades are being made using 100x leverage, that quickly becomes 2% to enter and 4% to exit a position. 

These fees are even more significant in Huobi, OKEx, and BitMEX, which are charging 0.2%, 0.1%, and 0.075%, respectively. When added up, these commissions have the ability to wipe out a trader’s small profits.

Unlike any of these cryptocurrency exchanges, Digitex Futures will allow anyone to place as many long or short positions as they wish over and over again without incurring a single fee. This is a clear advantage for traders who want to capitalize even on the smallest market fluctuations. And, it will certainly open the gates to a new wave of demand for the DGTX token, which makes all of the above possible. 

Demand for DGTX Is Expected to Rise

Having the possibility to profit in every single movement of the market will even get the average Joe interested in trading. As users of Digitex Futures will rely on DGTX to have access to the platform, the demand for this utility token will likely shoot up. 

Such a bullish outlook coincides with what can be seen from a technical perspective.

The Tom Demark (TD) Sequential indicator is currently presenting a buy signal on DGTX’s 1-day chart. The bullish formation developed in the form of a red nine candlestick. Due to the recent price action, however, it transitioned into a green one candle. 

The aforementioned technical index estimates that a further increase in the buying pressure behind DGTX will validate the optimistic outlook. If so, this altcoin could be poised to surge for one to four daily candlesticks or begin a new upward countdown. 

High Interest in Crypto Derivatives is Bullish for DGTX 9

TD Setup Presents a Buy Signal For DGTX. (Source: TradingView)

Adding credence to the bullish outlook, the corrective phase that DGTX went through since early April allowed it to hit the 50% Fibonacci retracement level. Although DGTX barely touched the 38.2% Fibonacci retracement level as forecasted last week, around the 50% Fibonacci retracement level is where most of the price action took place.

Based on Gann’s 50% retracement theory, this Fibonacci level presents a crucial opportunity to “buy the dip.” If DGTX is able to bounce off this area with enough volume behind it, it could rapidly rise and reach higher highs. 

Otherwise, it may present another opportunity for sidelined investors to get back into the market. 

High Interest in Crypto Derivatives is Bullish for DGTX 10

DGTX Bounces Off the 50% Fib Level. (Source: TradingView)

With Bitcoin’s halving now written into the history books and Digitex Futures preparing to launch fully to the public this summer, it is just a matter of time before DGTX achieves its upside potential leaving competitors in the dust. 

 

Latest News

digitex

Digitex: A Natural Culmination of My Trading Journey

Crypto Industry
Digitex Futures
• Adam Todd
April 7, 2020

Picture this. It’s the early 1990s in London. A 19-year old rookie is literally thrown into the middle of the Bund futures trading pit. Orders flying around at a dizzying pace. Howls of ridicule and abuse from the merciless pack of 200 traders surrounding him…

Yep, that was me! But starting out like that as an open outcry pit trader gave me a 3D view of the market mechanics and a lasting fascination with the dynamics. Even now that everything is screen-based, I still visualize a futures trading market exactly the same as I always have: a large, baying crowd of aggressive individuals trying to outwit one other and take each other’s money. 

A market is a living, breathing beast with a life of its own that nobody can control. It’s an arena where buy and sell orders fly around, coming from every direction, clashing with each other in apparent chaos. 

For me, coming from this live-action environment means that I know short term trading has almost nothing to do with the fundamentals of the underlying instrument. Rather, successful scalpers have the ability to visualize how that crowd is behaving, in an attempt to predict what they might do in the next few seconds or minutes. Whatever it is that they’re buying and selling is largely irrelevant.

Digitalizing the Pit Experience

When you want to transfer these trading pit dynamics onto a computer screen, it’s imperative that the technology is up to the task. Screen-based traders must be able to submit trades as quickly and easily as shouting “Sold!”, and they must be able to see bids and offers moving in real-time even in the busiest times. 

Fast and reliable technology that works without hiccups or glitches, and that clearly displays exactly what is going on right now, is critical to the success of an exchange. And the large futures exchanges like CME and LIFFE that made the transition from open outcry pit trading to electronic trading did a very good job with the technology. It wasn’t an option – they had to. 

These companies poured millions of dollars into creating highly resilient, robust, lightning-fast systems that were up to the job. As a result, they’ve gone from strength to strength.

The importance of good technology in an electronic trading environment is seared into my brain because I know that a market isn’t just numbers on a screen. The electronic trading pit must offer the same low latency and resilience and speed of execution and speed of communication as a physical crowd of people. Because that’s essentially what it is. Any shortcomings, even in just one of these areas, will have a direct negative effect on liquidity. 

And lack of liquidity is a market-killer. CME knew that, LIFFE knew that, and I know that. 

Winners Never Quit, and Quitters Never Win

It’s with this 3D clarity of purpose that I have approached the development of the Digitex Futures exchange. Our trading platform must be the absolute best that it can be if we want to achieve the level of success that I want and expect. The crypto trading community has shown a massive interest in Digitex and the concept of zero-fee futures trading. I have refused to jeopardize that by releasing a trading platform that is not up to the job. 

I’ve received a lot of criticism for the development delays that we have suffered, and I take full responsibility for that. Mistakes were made in my choice of developers and also in how I managed them. But having made those mistakes I won’t compound them further by accepting what they gave me and releasing a trading platform that doesn’t accurately transfer the dynamics of the trading pit onto your computer screen. 

My only available course of action was to learn from my mistakes. So I carried on and hired the best development team I could find and moved to Moscow to work with them full time. It never crossed my mind to quit. I will continue to execute my vision until I get the exchange I want. 

If We’re Gonna Do This, We’re Gonna Do It Right

The testnet platform that we released on November 30th was the product of my refusal to accept second best. As a trader, you can view real-time price action on an intuitive ladder interface. You have the ability to submit trades instantly, with a single click of the mouse, with no mouse movement or keyboard strokes needed, never taking your eyes from the price action. 

Want to try your hand at trading commission-free on the Digitex Futures exchange? With the beta version handling insane volume, you can practice your skills on our trading ladder interface and hone your strategy before the mainnet release on April 27, 2020.

JOIN NOW

Bids and offers will literally move up and down the trading ladder, enabling you to get in the zone and visualize what’s happening and what might happen next. All relevant market information will be displayed without needing to scroll and you’ll be able to react instantly to any situation with little to no mouse movement. 

Despite heavy load from thousands of active traders pursuing high-frequency trading strategies that aren’t viable on fee-charging exchanges, the Digitex matching engine will be fast and efficient enough to deal with the resulting liquidity. 

A Rare Beast, Waiting to be Unleashed

Ease of use and a matching engine that works under heavy strain sound so simple, right? Like they should be something we can just take for granted. But if you look at the majority of cryptocurrency exchanges that are out there right now, you can see for yourself how rare this level of quality actually is. 

There are literally hundreds of examples of shit exchanges with ugly, glitchy trading interfaces. Multiple mouse movements and keyboard strokes to do anything even before you execute a trade. Fragile and badly built matching engines that just don’t work properly. 

This lack of quality doesn’t surprise me. I’ve learned firsthand that it’s very difficult to create a fast and robust exchange with an intuitive interface and a matching engine that can withstand the rigors of thousands of active traders. Most companies fail miserably because they rush to bring a product to market. Once it’s live, they only care about making a quick profit from your trading fees. But in so doing they join the ranks of hundreds of other irrelevant and illiquid exchanges.

The Digitex Futures exchange will stand head and shoulders above the rest. Our platform is well designed, easy to use, and will be a highly liquid exchange with a bulletproof matching engine that just works. We’re taking our inspiration from the trading platforms developed by the likes of CME and LIFFE, not the substandard crypto exchanges that dominate the current market. 

The launch of the testnet was only the very beginning and the mainnet coming up on April 27 will be just the next step. Digitex is the natural culmination of my trading journey so far, and there is so much more that I want to do with it over the coming years. 

Thanks for sticking with us so far. I promise it will be worth the wait.

Do you want to stock up on DGTX tokens ahead of the mainnet launch? You can head over to the Digitex Treasury for a trustless transaction with zero slippage and completely KYC-free now.

BUY DGTX
April 7, 2020
Crypto Industry
Digitex Futures

Digitex: A Natural Culmination of My Trading Journey

Adam Todd
digitex

Picture this. It’s the early 1990s in London. A 19-year old rookie is literally thrown into the middle of the Bund futures trading pit. Orders flying around at a dizzying pace. Howls of ridicule and abuse from the merciless pack of 200 traders surrounding him…

Yep, that was me! But starting out like that as an open outcry pit trader gave me a 3D view of the market mechanics and a lasting fascination with the dynamics. Even now that everything is screen-based, I still visualize a futures trading market exactly the same as I always have: a large, baying crowd of aggressive individuals trying to outwit one other and take each other’s money. 

A market is a living, breathing beast with a life of its own that nobody can control. It’s an arena where buy and sell orders fly around, coming from every direction, clashing with each other in apparent chaos. 

For me, coming from this live-action environment means that I know short term trading has almost nothing to do with the fundamentals of the underlying instrument. Rather, successful scalpers have the ability to visualize how that crowd is behaving, in an attempt to predict what they might do in the next few seconds or minutes. Whatever it is that they’re buying and selling is largely irrelevant.

Digitalizing the Pit Experience

When you want to transfer these trading pit dynamics onto a computer screen, it’s imperative that the technology is up to the task. Screen-based traders must be able to submit trades as quickly and easily as shouting “Sold!”, and they must be able to see bids and offers moving in real-time even in the busiest times. 

Fast and reliable technology that works without hiccups or glitches, and that clearly displays exactly what is going on right now, is critical to the success of an exchange. And the large futures exchanges like CME and LIFFE that made the transition from open outcry pit trading to electronic trading did a very good job with the technology. It wasn’t an option – they had to. 

These companies poured millions of dollars into creating highly resilient, robust, lightning-fast systems that were up to the job. As a result, they’ve gone from strength to strength.

The importance of good technology in an electronic trading environment is seared into my brain because I know that a market isn’t just numbers on a screen. The electronic trading pit must offer the same low latency and resilience and speed of execution and speed of communication as a physical crowd of people. Because that’s essentially what it is. Any shortcomings, even in just one of these areas, will have a direct negative effect on liquidity. 

And lack of liquidity is a market-killer. CME knew that, LIFFE knew that, and I know that. 

Winners Never Quit, and Quitters Never Win

It’s with this 3D clarity of purpose that I have approached the development of the Digitex Futures exchange. Our trading platform must be the absolute best that it can be if we want to achieve the level of success that I want and expect. The crypto trading community has shown a massive interest in Digitex and the concept of zero-fee futures trading. I have refused to jeopardize that by releasing a trading platform that is not up to the job. 

I’ve received a lot of criticism for the development delays that we have suffered, and I take full responsibility for that. Mistakes were made in my choice of developers and also in how I managed them. But having made those mistakes I won’t compound them further by accepting what they gave me and releasing a trading platform that doesn’t accurately transfer the dynamics of the trading pit onto your computer screen. 

My only available course of action was to learn from my mistakes. So I carried on and hired the best development team I could find and moved to Moscow to work with them full time. It never crossed my mind to quit. I will continue to execute my vision until I get the exchange I want. 

If We’re Gonna Do This, We’re Gonna Do It Right

The testnet platform that we released on November 30th was the product of my refusal to accept second best. As a trader, you can view real-time price action on an intuitive ladder interface. You have the ability to submit trades instantly, with a single click of the mouse, with no mouse movement or keyboard strokes needed, never taking your eyes from the price action. 

Want to try your hand at trading commission-free on the Digitex Futures exchange? With the beta version handling insane volume, you can practice your skills on our trading ladder interface and hone your strategy before the mainnet release on April 27, 2020.

JOIN NOW

Bids and offers will literally move up and down the trading ladder, enabling you to get in the zone and visualize what’s happening and what might happen next. All relevant market information will be displayed without needing to scroll and you’ll be able to react instantly to any situation with little to no mouse movement. 

Despite heavy load from thousands of active traders pursuing high-frequency trading strategies that aren’t viable on fee-charging exchanges, the Digitex matching engine will be fast and efficient enough to deal with the resulting liquidity. 

A Rare Beast, Waiting to be Unleashed

Ease of use and a matching engine that works under heavy strain sound so simple, right? Like they should be something we can just take for granted. But if you look at the majority of cryptocurrency exchanges that are out there right now, you can see for yourself how rare this level of quality actually is. 

There are literally hundreds of examples of shit exchanges with ugly, glitchy trading interfaces. Multiple mouse movements and keyboard strokes to do anything even before you execute a trade. Fragile and badly built matching engines that just don’t work properly. 

This lack of quality doesn’t surprise me. I’ve learned firsthand that it’s very difficult to create a fast and robust exchange with an intuitive interface and a matching engine that can withstand the rigors of thousands of active traders. Most companies fail miserably because they rush to bring a product to market. Once it’s live, they only care about making a quick profit from your trading fees. But in so doing they join the ranks of hundreds of other irrelevant and illiquid exchanges.

The Digitex Futures exchange will stand head and shoulders above the rest. Our platform is well designed, easy to use, and will be a highly liquid exchange with a bulletproof matching engine that just works. We’re taking our inspiration from the trading platforms developed by the likes of CME and LIFFE, not the substandard crypto exchanges that dominate the current market. 

The launch of the testnet was only the very beginning and the mainnet coming up on April 27 will be just the next step. Digitex is the natural culmination of my trading journey so far, and there is so much more that I want to do with it over the coming years. 

Thanks for sticking with us so far. I promise it will be worth the wait.

Do you want to stock up on DGTX tokens ahead of the mainnet launch? You can head over to the Digitex Treasury for a trustless transaction with zero slippage and completely KYC-free now.

BUY DGTX

Latest News

DGTX: Your Gateway to Free Trading 11

DGTX: Your Gateway to Free Trading

Digitex Futures
Trading
• Christina Comben
September 21, 2019

There are more than 500 cryptocurrency exchanges out there with more and more cropping up all the time. There are also plenty of new entrants in the cryptocurrency derivatives space. Amid rising competition and a BTC futures market set to get parabolic, many people ask why we need another crypto futures exchange. Well, the answer is because Digitex is not just another crypto futures exchange and DGTX is not just another exchange token! Read on to find out more.
Continue reading

September 21, 2019
Digitex Futures
Trading

DGTX: Your Gateway to Free Trading

Christina Comben
DGTX: Your Gateway to Free Trading 12

There are more than 500 cryptocurrency exchanges out there with more and more cropping up all the time. There are also plenty of new entrants in the cryptocurrency derivatives space. Amid rising competition and a BTC futures market set to get parabolic, many people ask why we need another crypto futures exchange. Well, the answer is because Digitex is not just another crypto futures exchange and DGTX is not just another exchange token! Read on to find out more.
Continue reading

Latest News

Day Trading Strategies For Cryptocurrencies 13

Day Trading Strategies For Cryptocurrencies

Digitex Futures
Trading
• Dave Reiter
September 5, 2019

Day trading dates all the way back to the 1860s although the practice took a major leap forward with the formation of the NASDAQ in 1971 which allowed for rapid dissemination of stock quotes between the exchange, the broker, and the customer. It has become more popular thanks to the rise of personal computers and the internet. Today, day trading is probably the most popular strategy in the crypto space. Let’s review a few day trading strategies for cryptocurrencies below. Continue reading

September 5, 2019
Digitex Futures
Trading

Day Trading Strategies For Cryptocurrencies

Dave Reiter
Day Trading Strategies For Cryptocurrencies 14

Day trading dates all the way back to the 1860s although the practice took a major leap forward with the formation of the NASDAQ in 1971 which allowed for rapid dissemination of stock quotes between the exchange, the broker, and the customer. It has become more popular thanks to the rise of personal computers and the internet. Today, day trading is probably the most popular strategy in the crypto space. Let’s review a few day trading strategies for cryptocurrencies below. Continue reading

Latest News

Parabolic Growth Is Coming for BTC Futures 15

Parabolic Growth Is Coming for BTC Futures

Crypto Industry
Digitex Futures
• Christina Comben
September 2, 2019

BTC futures are often met with mixed reactions. After all, it was almost entirely after their introduction into the space that the price of BTC crashed by epic proportions. With a purely speculative user base, BTC futures traders, unlike diehard HODLers, aren’t deterred by downswings in bitcoin’s price. They can still make money by shorting BTC without ever having to take physical delivery. All that is about to change. Continue reading

September 2, 2019
Crypto Industry
Digitex Futures

Parabolic Growth Is Coming for BTC Futures

Christina Comben
Parabolic Growth Is Coming for BTC Futures 16

BTC futures are often met with mixed reactions. After all, it was almost entirely after their introduction into the space that the price of BTC crashed by epic proportions. With a purely speculative user base, BTC futures traders, unlike diehard HODLers, aren’t deterred by downswings in bitcoin’s price. They can still make money by shorting BTC without ever having to take physical delivery. All that is about to change. Continue reading

Latest News

Wondering How To Buy Futures? Check Out This Quick Guide 17

Wondering How To Buy Futures? Check Out This Quick Guide

Digitex Futures
Trading
• Christina Comben

As we announced the launch of our public testnet and inch closer to opening the gates, things are starting to get real at last! You may find yourself wondering how to buy futures or indeed, what futures really are. In this article, we explain the basic concepts, how to buy futures, the types of contracts, and all you need to know to get into stock futures investing.

About Futures 

For a more in-depth overview of futures and futures trading, check out our how-to guide here. However, the basic premise is this: Think of futures contracts as agreements between two parties to trade an asset (in this case Bitcoin) for an agreed-upon price in the future. 
Trading futures has many benefits and started out as a way of allowing large companies, farmers, oil producers, etc. to hedge their commodities’ value against price fluctuations. Say an oil producer believes that the price per barrel will drop significantly in the next six months. He can enter a futures contract to sell at today’s price in six months to secure his profit. Of course, he loses out if the price rises. Trading futures is always a gamble, even more so in the cryptocurrency space.
There are many different types of futures contracts, including physically settled and cash-settled, as well as daily and monthly settled and perpetual swaps. Until Bakkt makes its entrance in September of this year with the first physically settled Bitcoin Futures market, all futures in the crypto space are cash-settled. This means that the traders pay each other the difference instead of physically delivering the underlying asset (Bitcoin). 
While some traders are looking to hedge on price, most modern futures traders are speculators looking to trade on price fluctuations and make cash profits, rather than taking custody of the underlying asset (i.e. barrels of oil, bars of gold, or even bitcoins). This would be a physically-settled contract and is more applicable to institutional space, agricultural or airline industries, for example. 

Perpetual Swaps

What are perpetual swap contracts? Perpetual swaps have no expiration date, unlike daily or monthly settled futures contracts. This makes them easier to understand for retail traders and they will be the main focus of the Digitex Futures exchange. As Adam stated in the AMA about the testnet:
“With a futures contract that may not expire for another month, there’s a premium because the spot price is further away from the contract price. Also, at settlement, there’s a need to settle the old contract and then open a new contract. Perpetual swap futures are the way forward for attracting retail traders and therefore, ensuring volume.”

Futures Markets

The futures market globally is now enormous and growing all the time according to the Futures Industry Association, with futures traded against stocks, Forex, cryptocurrencies, indices, bonds, gold, and more.
If you were asking questions like, what are stock futures, what is day trading futures, and how to buy futures, it helps to have an overview of the different types of markets first–as well as the tools that good futures traders use to magnify their profits.
You can buy futures contracts through a traditional broker or online from an abundance of sites that make trading simpler and easier, cut out intermediaries and lower costs. On the Digitex Futures exchange, you’ll be able to buy cryptocurrency futures with zero commissions on all trades–a first for both the crypto and the futures industry.
Futures traders often use tools like margin and leverage to increase their profit sizes. Borrowing funds from an exchange to take a bigger position can be risky and highly leveraged traders can get blown out in volatile markets. However, leverage does give skilled traders the chance to make a lot of money fast and greatly magnify their winnings. This is why 100x leverage has become so popular in the cryptocurrency markets.

How to Buy Futures on the Digitex Exchange

On the Digitex exchange, you can buy futures using DGTX only. This means that you’ll need to know where to buy ether, first of all, to purchase DGTX and then all your profits and losses will be denominated in DGTX.
As Adam highlighted in his AMA, you will be buying a perpetual swap contract, which will be a dollar’s worth of DGTX tokens and has no expiration date. We are still finalizing the futures contract specifications, however, they will be essentially the same as other major futures exchanges such as BitMEX and Bybit to make it easier for their traders to switch over to Digitex. We want to make it as simple as possible to create winning traders and to allow them to trade successfully. 
Skilled traders are used to trading futures for profit. It takes time and discipline, but even you’re just starting out, earning some extra income from day trading futures is certainly within your reach, especially on a platform that charges no commissions and has no mechanical edge working against you.

September 2, 2019
Digitex Futures
Trading

Wondering How To Buy Futures? Check Out This Quick Guide

Christina Comben
Wondering How To Buy Futures? Check Out This Quick Guide 18

As we announced the launch of our public testnet and inch closer to opening the gates, things are starting to get real at last! You may find yourself wondering how to buy futures or indeed, what futures really are. In this article, we explain the basic concepts, how to buy futures, the types of contracts, and all you need to know to get into stock futures investing.

About Futures 

For a more in-depth overview of futures and futures trading, check out our how-to guide here. However, the basic premise is this: Think of futures contracts as agreements between two parties to trade an asset (in this case Bitcoin) for an agreed-upon price in the future. 
Trading futures has many benefits and started out as a way of allowing large companies, farmers, oil producers, etc. to hedge their commodities’ value against price fluctuations. Say an oil producer believes that the price per barrel will drop significantly in the next six months. He can enter a futures contract to sell at today’s price in six months to secure his profit. Of course, he loses out if the price rises. Trading futures is always a gamble, even more so in the cryptocurrency space.
There are many different types of futures contracts, including physically settled and cash-settled, as well as daily and monthly settled and perpetual swaps. Until Bakkt makes its entrance in September of this year with the first physically settled Bitcoin Futures market, all futures in the crypto space are cash-settled. This means that the traders pay each other the difference instead of physically delivering the underlying asset (Bitcoin). 
While some traders are looking to hedge on price, most modern futures traders are speculators looking to trade on price fluctuations and make cash profits, rather than taking custody of the underlying asset (i.e. barrels of oil, bars of gold, or even bitcoins). This would be a physically-settled contract and is more applicable to institutional space, agricultural or airline industries, for example. 

Perpetual Swaps

What are perpetual swap contracts? Perpetual swaps have no expiration date, unlike daily or monthly settled futures contracts. This makes them easier to understand for retail traders and they will be the main focus of the Digitex Futures exchange. As Adam stated in the AMA about the testnet:
“With a futures contract that may not expire for another month, there’s a premium because the spot price is further away from the contract price. Also, at settlement, there’s a need to settle the old contract and then open a new contract. Perpetual swap futures are the way forward for attracting retail traders and therefore, ensuring volume.”

Futures Markets

The futures market globally is now enormous and growing all the time according to the Futures Industry Association, with futures traded against stocks, Forex, cryptocurrencies, indices, bonds, gold, and more.
If you were asking questions like, what are stock futures, what is day trading futures, and how to buy futures, it helps to have an overview of the different types of markets first–as well as the tools that good futures traders use to magnify their profits.
You can buy futures contracts through a traditional broker or online from an abundance of sites that make trading simpler and easier, cut out intermediaries and lower costs. On the Digitex Futures exchange, you’ll be able to buy cryptocurrency futures with zero commissions on all trades–a first for both the crypto and the futures industry.
Futures traders often use tools like margin and leverage to increase their profit sizes. Borrowing funds from an exchange to take a bigger position can be risky and highly leveraged traders can get blown out in volatile markets. However, leverage does give skilled traders the chance to make a lot of money fast and greatly magnify their winnings. This is why 100x leverage has become so popular in the cryptocurrency markets.

How to Buy Futures on the Digitex Exchange

On the Digitex exchange, you can buy futures using DGTX only. This means that you’ll need to know where to buy ether, first of all, to purchase DGTX and then all your profits and losses will be denominated in DGTX.
As Adam highlighted in his AMA, you will be buying a perpetual swap contract, which will be a dollar’s worth of DGTX tokens and has no expiration date. We are still finalizing the futures contract specifications, however, they will be essentially the same as other major futures exchanges such as BitMEX and Bybit to make it easier for their traders to switch over to Digitex. We want to make it as simple as possible to create winning traders and to allow them to trade successfully. 
Skilled traders are used to trading futures for profit. It takes time and discipline, but even you’re just starting out, earning some extra income from day trading futures is certainly within your reach, especially on a platform that charges no commissions and has no mechanical edge working against you.

Latest News

The Cryptocurrency Market — Dave's Monthly Review 19

The Cryptocurrency Market — Dave’s Monthly Review

Digitex Futures
Trading
• Dave Reiter
August 30, 2019

After enjoying a strong bull market rally during the first six months of 2019, the cryptocurrency market hit a brick wall in July and August. For the second consecutive month, the crypto bulls watched their favorite digital currencies decline in value. All of the major cryptocurrencies generated a loss for the month of August. 
Despite these losses, there was one major “bright spot” in the crypto community. The Digitex native currency (DGTX) managed to end the month in positive territory. For the month of August, DGTX gained 2.6%, while the average loss from the major cryptocurrencies was (20.3%). Why have cryptocurrencies struggled during the past 60 days? Will this trend continue for the remainder of 2019? Let’s examine the details.
The Cryptocurrency Market — Dave's Monthly Review 20

Bakkt Has Been Cleared to Launch

Without question, the biggest piece of news emanating from the crypto community during the month of August was the announcement released by Bakkt on 16 August. After several delays and false starts, Bakkt unveiled its plans to launch a new Bitcoin (BTC) futures product beginning on 23 September.
This will place Bakkt in direct competition with Bitcoin futures products offered by the Chicago Mercantile Exchange (CME). The vast majority of members in the cryptocurrency community are heavily in favor of Bakkt’s entrance into the Bitcoin futures arena. They view the Bakkt news as “bullish” for the long-term direction of BTC and other major cryptocurrencies. 
Contrary to popular belief, Bakkt is not a cryptocurrency futures exchange. Instead the company provides custody services for its physically-delivered Bitcoin futures product.
Essentially, Bakkt is a warehouse. Its parent company, the Intercontinental Exchange (ICE) will provide the necessary infrastructure to allow Bakkt to offer BTC futures. The launching of Bakkt is another example of the unprecedented growth that is occurring in derivatives trading within the cryptocurrency community.
In addition to Bakkt, four other firms are working with regulators to offer similar cryptocurrency derivatives products. The list includes LedgerX, ErisX, Seed CX and trueDigital. Given the dramatic increase in crypto trading volume during the past two years, there’s no doubt that cryptocurrencies will soon be regarded as a major asset class by the global investment community.

Bitcoin is Struggling to Stay Above The $10K Level

On 24 June, BTC pushed above $10K for the first time since March 2018. Bitcoin stayed below $10K for 15 consecutive months. During the past 60 days, BTC has been locked in a narrow trading range (Chart #1). The cryptocurrency has been unable to consistently stay above the $10K level. This is not a good sign for the Bitcoin bulls.
The Cryptocurrency Market — Dave's Monthly Review 21
In a recent article, we discussed the probability that BTC had formed an important top on 26 June @ 13,844. So far, this appears to be the most likely scenario. Bitcoin enjoyed a dramatic rally during the first six months of 2019, rising 276%. However, BTC has been unable to record any additional gains above 13,844. Of course, the recent price action could simply be a period of consolidation prior to another explosive move to the upside.
In order to fully regain its bullish momentum, Bitcoin needs to generate a weekly close above 13,844. Until BTC records a new high for 2019, it is definitely vulnerable to a nasty decline. If Bitcoin begins to roll over to the downside, the important numbers to watch are 4,440 – 5,704 – 6,568 – 8,485 – 9,966. Please review Chart #2.
The Cryptocurrency Market — Dave's Monthly Review 22

Digitex is Moving Forward

Despite a few setbacks along the way, the Digitex Futures exchange continues on its journey to becoming the first zero-fee cryptocurrency futures exchange. In May, Digitex teamed up with SmartDec for help in developing and programming the futures exchange and trading platform. SmartDec is a highly successful company located in Moscow, Russia specializing in software development, smart contract development and software auditing.
Recently, Digitex announced the exciting news that it will launch on the Ethereum public testnet beginning 30 November. This will give traders an opportunity to experience the Digitex trading platform on a real-time basis. Launching on the Ethereum public testnet will allow Digitex the ability to continue testing, modifying and enhancing its state-of-the-art trading platform. The future looks bright for Digitex!

Bitcoin Update

This article was written on 28 August. Shortly after the completion of this article, Bitcoin penetrated the important support level @ 9,966. At least for now, BTC has fallen into bearish territory. Most likely, Bitcoin will drop below the next support level @ 8,485. Please review Chart #3.
The Cryptocurrency Market — Dave's Monthly Review 23
Digitex Futures writers and/or guest authors may or may not have a vested interest in the Digitex Futures project and/or other businesses mentioned throughout the site. None of the content on Digitex Futures is investment advice nor is it a replacement for advice from a certified financial planner.

August 30, 2019
Digitex Futures
Trading

The Cryptocurrency Market — Dave’s Monthly Review

Dave Reiter
The Cryptocurrency Market — Dave's Monthly Review 24

After enjoying a strong bull market rally during the first six months of 2019, the cryptocurrency market hit a brick wall in July and August. For the second consecutive month, the crypto bulls watched their favorite digital currencies decline in value. All of the major cryptocurrencies generated a loss for the month of August. 
Despite these losses, there was one major “bright spot” in the crypto community. The Digitex native currency (DGTX) managed to end the month in positive territory. For the month of August, DGTX gained 2.6%, while the average loss from the major cryptocurrencies was (20.3%). Why have cryptocurrencies struggled during the past 60 days? Will this trend continue for the remainder of 2019? Let’s examine the details.
The Cryptocurrency Market — Dave's Monthly Review 25

Bakkt Has Been Cleared to Launch

Without question, the biggest piece of news emanating from the crypto community during the month of August was the announcement released by Bakkt on 16 August. After several delays and false starts, Bakkt unveiled its plans to launch a new Bitcoin (BTC) futures product beginning on 23 September.
This will place Bakkt in direct competition with Bitcoin futures products offered by the Chicago Mercantile Exchange (CME). The vast majority of members in the cryptocurrency community are heavily in favor of Bakkt’s entrance into the Bitcoin futures arena. They view the Bakkt news as “bullish” for the long-term direction of BTC and other major cryptocurrencies. 
Contrary to popular belief, Bakkt is not a cryptocurrency futures exchange. Instead the company provides custody services for its physically-delivered Bitcoin futures product.
Essentially, Bakkt is a warehouse. Its parent company, the Intercontinental Exchange (ICE) will provide the necessary infrastructure to allow Bakkt to offer BTC futures. The launching of Bakkt is another example of the unprecedented growth that is occurring in derivatives trading within the cryptocurrency community.
In addition to Bakkt, four other firms are working with regulators to offer similar cryptocurrency derivatives products. The list includes LedgerX, ErisX, Seed CX and trueDigital. Given the dramatic increase in crypto trading volume during the past two years, there’s no doubt that cryptocurrencies will soon be regarded as a major asset class by the global investment community.

Bitcoin is Struggling to Stay Above The $10K Level

On 24 June, BTC pushed above $10K for the first time since March 2018. Bitcoin stayed below $10K for 15 consecutive months. During the past 60 days, BTC has been locked in a narrow trading range (Chart #1). The cryptocurrency has been unable to consistently stay above the $10K level. This is not a good sign for the Bitcoin bulls.
The Cryptocurrency Market — Dave's Monthly Review 26
In a recent article, we discussed the probability that BTC had formed an important top on 26 June @ 13,844. So far, this appears to be the most likely scenario. Bitcoin enjoyed a dramatic rally during the first six months of 2019, rising 276%. However, BTC has been unable to record any additional gains above 13,844. Of course, the recent price action could simply be a period of consolidation prior to another explosive move to the upside.
In order to fully regain its bullish momentum, Bitcoin needs to generate a weekly close above 13,844. Until BTC records a new high for 2019, it is definitely vulnerable to a nasty decline. If Bitcoin begins to roll over to the downside, the important numbers to watch are 4,440 – 5,704 – 6,568 – 8,485 – 9,966. Please review Chart #2.
The Cryptocurrency Market — Dave's Monthly Review 27

Digitex is Moving Forward

Despite a few setbacks along the way, the Digitex Futures exchange continues on its journey to becoming the first zero-fee cryptocurrency futures exchange. In May, Digitex teamed up with SmartDec for help in developing and programming the futures exchange and trading platform. SmartDec is a highly successful company located in Moscow, Russia specializing in software development, smart contract development and software auditing.
Recently, Digitex announced the exciting news that it will launch on the Ethereum public testnet beginning 30 November. This will give traders an opportunity to experience the Digitex trading platform on a real-time basis. Launching on the Ethereum public testnet will allow Digitex the ability to continue testing, modifying and enhancing its state-of-the-art trading platform. The future looks bright for Digitex!

Bitcoin Update

This article was written on 28 August. Shortly after the completion of this article, Bitcoin penetrated the important support level @ 9,966. At least for now, BTC has fallen into bearish territory. Most likely, Bitcoin will drop below the next support level @ 8,485. Please review Chart #3.
The Cryptocurrency Market — Dave's Monthly Review 28
Digitex Futures writers and/or guest authors may or may not have a vested interest in the Digitex Futures project and/or other businesses mentioned throughout the site. None of the content on Digitex Futures is investment advice nor is it a replacement for advice from a certified financial planner.

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