Announcing Blockfunder - Our Brand-New IEO Platform 1

Announcing Blockfunder – Our Brand-New IEO Platform

Digitex
• Digitex
May 27, 2021

We told you on Monday that there was a lot more to come out of Digitex in Q2! Well, today, we’re excited to announce the launch of our brand-new IEO platform Blockfunder. Through our token launch platform, we aim to help finance and fast-track some of crypto’s most exciting and promising projects–and we’ll be kicking off with our very own in-house developed crypto social network Blockster (BXR). Read on for further details.

What Is Blockfunder?

Blockfunder is a platform that allows new and innovative cryptocurrency projects to benefit from the technology, experience, and network effect of the Digitex exchange. Through Blockfunder, you can get in on the ground floor of up-and-coming projects at their earliest stages of development with the assurance that only the highest quality offerings will be held.

Our internal team of engineers, compliance experts, and marketers will assess the project’s whitepaper, code, regulatory position, community, team, and potential, and hold new participants to the highest standards before allowing them to hold an IEO on our exchange. Through Blockfunder, we will be helping to finance a combination of in-house-built products like Blockster (BXR) and innovative external projects that we believe have great potential to succeed.

As well as supporting innovation and providing exclusive investment opportunities to crypto enthusiasts, Blockfunder is designed to lend additional utility to the DGTX token. Various token sales through Blockfunder will accept DGTX as payment, thus helping to restrict the circulating supply of the DGTX token and helping it recapture value.

CEO of Digitex Adam Todd commented: “We’re really excited to be launching our own IEO platform that will also introduce a new utility for our native DGTX token. As we raise funds for projects, partial payment will be accepted with DGTX, meaning a lot will be collected back from the total circulating supply.” 

What Is Blockster (BXR)?

The very first project to launch through Blockfunder will be Blockster, a social network dedicated to cryptocurrency enthusiasts with its own native token (BXR) that will be used for advertising and commerce on the platform, as well as staking. Blockster will be driven by user-generated content that focuses on making money in crypto and blockchain.

Announcing Blockfunder - Our Brand-New IEO Platform 2

Unlike existing social media platforms today, Blockster will provide everything in one platform. Crypto enthusiasts will no longer have to open several tabs to check the prices of their favorite assets, watch crypto influencers, create content, chat to friends, or read the news. 

Announcing Blockfunder - Our Brand-New IEO Platform 3

Blockster will come complete with a full market data feed for all cryptocurrencies, just like CoinMarketCap or CoinGecko. It will also have its own user-generated blog called Blockdesk, and a mobile app and NFT marketplace where users can buy and sell some of the hottest digital assets in crypto. With all these unique features in mind, Blockster aims to become ‘the social network’ for the crypto industry. 

Announcing Blockfunder - Our Brand-New IEO Platform 4

Blockster has been designed and developed in-house by Digitex specifically for crypto users, traders, and enthusiasts looking for opportunities to make money through investing and trading in digital assets. Unlike many projects at the initial coin offering stage, Blockster has already been under development for over a year now and is operating in a closed testnet version.

The Blockster (BXR) Token Sale 

The BXR token sale will be split into six separate phases that will sell a total of 10 million BXR tokens. This is 10% of the total token supply. For further details on the BXR token breakdown, please see the Blockster whitepaper here. 

Each phase of the token sale lasts until the start of the next phase or until all tokens have been sold, whichever comes first. The first phase will kick off on June 7, 2021, and the last phase, phase 6, will end on October 12, 2021 (or when all tokens have been sold).

The BXR token will start at $1 per BXR in the first phase and the price will gradually rise throughout the phases to $2.25. In the initial phase, as well as two other phases, only DGTX will be accepted as payment for BXR tokens. In the other three phases, we will be accepting BTC, ETH, and USDC. 

Once the token sale is concluded, BXR will be listed on Digitex, Uniswap, and other major exchanges that will be announced soon. You must complete KYC to take part in this token sale and US residents and citizens are unfortunately not allowed to participate.

We’ll be releasing more details about Blockster before the token sale begins, so be sure to stay tuned to our blog. In the meantime, you can read more about Blockster here or sign up for the waitlist by visiting this link. If you’re a content creator and would like to partner with Blockster, you can submit an application there as well.  

May 27, 2021
Digitex

Announcing Blockfunder – Our Brand-New IEO Platform

Digitex
Announcing Blockfunder - Our Brand-New IEO Platform 5

We told you on Monday that there was a lot more to come out of Digitex in Q2! Well, today, we’re excited to announce the launch of our brand-new IEO platform Blockfunder. Through our token launch platform, we aim to help finance and fast-track some of crypto’s most exciting and promising projects–and we’ll be kicking off with our very own in-house developed crypto social network Blockster (BXR). Read on for further details.

What Is Blockfunder?

Blockfunder is a platform that allows new and innovative cryptocurrency projects to benefit from the technology, experience, and network effect of the Digitex exchange. Through Blockfunder, you can get in on the ground floor of up-and-coming projects at their earliest stages of development with the assurance that only the highest quality offerings will be held.

Our internal team of engineers, compliance experts, and marketers will assess the project’s whitepaper, code, regulatory position, community, team, and potential, and hold new participants to the highest standards before allowing them to hold an IEO on our exchange. Through Blockfunder, we will be helping to finance a combination of in-house-built products like Blockster (BXR) and innovative external projects that we believe have great potential to succeed.

As well as supporting innovation and providing exclusive investment opportunities to crypto enthusiasts, Blockfunder is designed to lend additional utility to the DGTX token. Various token sales through Blockfunder will accept DGTX as payment, thus helping to restrict the circulating supply of the DGTX token and helping it recapture value.

CEO of Digitex Adam Todd commented: “We’re really excited to be launching our own IEO platform that will also introduce a new utility for our native DGTX token. As we raise funds for projects, partial payment will be accepted with DGTX, meaning a lot will be collected back from the total circulating supply.” 

What Is Blockster (BXR)?

The very first project to launch through Blockfunder will be Blockster, a social network dedicated to cryptocurrency enthusiasts with its own native token (BXR) that will be used for advertising and commerce on the platform, as well as staking. Blockster will be driven by user-generated content that focuses on making money in crypto and blockchain.

Announcing Blockfunder - Our Brand-New IEO Platform 6

Unlike existing social media platforms today, Blockster will provide everything in one platform. Crypto enthusiasts will no longer have to open several tabs to check the prices of their favorite assets, watch crypto influencers, create content, chat to friends, or read the news. 

Announcing Blockfunder - Our Brand-New IEO Platform 7

Blockster will come complete with a full market data feed for all cryptocurrencies, just like CoinMarketCap or CoinGecko. It will also have its own user-generated blog called Blockdesk, and a mobile app and NFT marketplace where users can buy and sell some of the hottest digital assets in crypto. With all these unique features in mind, Blockster aims to become ‘the social network’ for the crypto industry. 

Announcing Blockfunder - Our Brand-New IEO Platform 8

Blockster has been designed and developed in-house by Digitex specifically for crypto users, traders, and enthusiasts looking for opportunities to make money through investing and trading in digital assets. Unlike many projects at the initial coin offering stage, Blockster has already been under development for over a year now and is operating in a closed testnet version.

The Blockster (BXR) Token Sale 

The BXR token sale will be split into six separate phases that will sell a total of 10 million BXR tokens. This is 10% of the total token supply. For further details on the BXR token breakdown, please see the Blockster whitepaper here. 

Each phase of the token sale lasts until the start of the next phase or until all tokens have been sold, whichever comes first. The first phase will kick off on June 7, 2021, and the last phase, phase 6, will end on October 12, 2021 (or when all tokens have been sold).

The BXR token will start at $1 per BXR in the first phase and the price will gradually rise throughout the phases to $2.25. In the initial phase, as well as two other phases, only DGTX will be accepted as payment for BXR tokens. In the other three phases, we will be accepting BTC, ETH, and USDC. 

Once the token sale is concluded, BXR will be listed on Digitex, Uniswap, and other major exchanges that will be announced soon. You must complete KYC to take part in this token sale and US residents and citizens are unfortunately not allowed to participate.

We’ll be releasing more details about Blockster before the token sale begins, so be sure to stay tuned to our blog. In the meantime, you can read more about Blockster here or sign up for the waitlist by visiting this link. If you’re a content creator and would like to partner with Blockster, you can submit an application there as well.  

Latest News

digitex

Digitex Community – Your Latest Questions Answered

Digitex
• Digitex
May 3, 2021

What a start to the week! With Ether blasting its way to a massive new all-time-high above $3K and Bitcoin making some serious moves as well, don’t miss out on the action trading commission-free on Digitex.io. But first, be sure to check out this article in which we go over all your latest feedback and answer your most burning questions. 

Q. Any news about the trading bots or partnership with existing bots?

A. Going through the community’s feedback, one of the questions that’s come up a few times is about trading bots. We know that you’re really looking forward to using our bots to enhance your zero-fee strategies, and would even like to deploy existing bots on the platform. 

Rest assured, we are developing our user-configurable bots that will be built into our platform UI and we’ll be updating you on that soon. We’re also going to make connectors for two popular bots and will be adding support for Coinrule and Bitsgap in the future.

Q. How will the rewards with other tokens be paid? 

A. We are ironing out all the details right now and will be sharing this with you later this month once we release our yield farming program.

Q. Are experts with connections and crypto history being hired? 

A. Good question! Yes, of course! In fact, if you visit the exchange and start trading, you’ll already notice how smooth and robust our technology is and, with all the programs that will be slowly getting released throughout the year, no amateur would be able to pull that off! What we’ve already built and what’s to come requires the best talent all working together. We’re proud of the team we’ve built so far and are most definitely on the right track for Digitex now. 

Q. Why do you need to mint so many tokens?

A. We understand your concerns and we plan to offset the minting by introducing new utilities that will gradually create more demand for DGTX. Please, just bear with us, as everything takes time and we have plenty more exciting plans in store for you.

Q. Digitex is not as transparent as it should be. Wallets are not public, and we don’t know what the tokens are for. How will you fix this?

A. This is a valid point. Transparency  especially for the crypto audience — is very important. We can certainly consider introducing a webpage to track all our tokens’ activities. Basically, we’re open to suggestions and are strongly in favor of doing anything to support building trust and confidence.

Q. When will the mobile app be ready?

A. Our mobile app is being developed right now with a dedicated in-house team. We’ve spent a good amount of time researching the top exchanges to understand how to give our app a competitive edge. Traditionally, exchanges require lots of tools, so the mobile version will be stripped down with a lot of those key features.

Yet, since mobile traffic is huge, the app will still give us a great opportunity to reach this audience. It’s roadmapped for this year but we don’t have a release date for you yet. Just know that when we do release it, it will be the best possible quality. 

Q. Why will you not make a stablecoin?

A. We attempted this last year as you all recall. The stablecoin is excellent in theory. But, in reality, it’s a very complex system and we were nowhere near production-ready. In order for us to release all the products and features we have roadmapped, we have realized that the key is to do one thing at a time, to ensure quality and execution.

This year, we’ve made an internal priority list, and we’ve reorganized our team. We now have a very strong team of developers and project managers to make sure we release high quality products. So to answer your question, we’ve put the stablecoin on the sideline because we have many other things that need to be done first. 

We’ve improved our UI/UX, we’ve released the spot exchange, and there’s a lot more coming… but one thing at a time! We’re definitely listening to you and we haven’t abandoned the idea, but we will reevaluate the stablecoin concept at a later date. 

That’s it for now, we hope that we’ve covered your questions here. Be sure to hit us up on our socials if not or directly on our site through our live chat function. And… don’t miss out on the wild volatility while getting paid to trade on Digitex.io. It looks set to be an interesting week!

May 3, 2021
Digitex

Digitex Community – Your Latest Questions Answered

Digitex
digitex

What a start to the week! With Ether blasting its way to a massive new all-time-high above $3K and Bitcoin making some serious moves as well, don’t miss out on the action trading commission-free on Digitex.io. But first, be sure to check out this article in which we go over all your latest feedback and answer your most burning questions. 

Q. Any news about the trading bots or partnership with existing bots?

A. Going through the community’s feedback, one of the questions that’s come up a few times is about trading bots. We know that you’re really looking forward to using our bots to enhance your zero-fee strategies, and would even like to deploy existing bots on the platform. 

Rest assured, we are developing our user-configurable bots that will be built into our platform UI and we’ll be updating you on that soon. We’re also going to make connectors for two popular bots and will be adding support for Coinrule and Bitsgap in the future.

Q. How will the rewards with other tokens be paid? 

A. We are ironing out all the details right now and will be sharing this with you later this month once we release our yield farming program.

Q. Are experts with connections and crypto history being hired? 

A. Good question! Yes, of course! In fact, if you visit the exchange and start trading, you’ll already notice how smooth and robust our technology is and, with all the programs that will be slowly getting released throughout the year, no amateur would be able to pull that off! What we’ve already built and what’s to come requires the best talent all working together. We’re proud of the team we’ve built so far and are most definitely on the right track for Digitex now. 

Q. Why do you need to mint so many tokens?

A. We understand your concerns and we plan to offset the minting by introducing new utilities that will gradually create more demand for DGTX. Please, just bear with us, as everything takes time and we have plenty more exciting plans in store for you.

Q. Digitex is not as transparent as it should be. Wallets are not public, and we don’t know what the tokens are for. How will you fix this?

A. This is a valid point. Transparency  especially for the crypto audience — is very important. We can certainly consider introducing a webpage to track all our tokens’ activities. Basically, we’re open to suggestions and are strongly in favor of doing anything to support building trust and confidence.

Q. When will the mobile app be ready?

A. Our mobile app is being developed right now with a dedicated in-house team. We’ve spent a good amount of time researching the top exchanges to understand how to give our app a competitive edge. Traditionally, exchanges require lots of tools, so the mobile version will be stripped down with a lot of those key features.

Yet, since mobile traffic is huge, the app will still give us a great opportunity to reach this audience. It’s roadmapped for this year but we don’t have a release date for you yet. Just know that when we do release it, it will be the best possible quality. 

Q. Why will you not make a stablecoin?

A. We attempted this last year as you all recall. The stablecoin is excellent in theory. But, in reality, it’s a very complex system and we were nowhere near production-ready. In order for us to release all the products and features we have roadmapped, we have realized that the key is to do one thing at a time, to ensure quality and execution.

This year, we’ve made an internal priority list, and we’ve reorganized our team. We now have a very strong team of developers and project managers to make sure we release high quality products. So to answer your question, we’ve put the stablecoin on the sideline because we have many other things that need to be done first. 

We’ve improved our UI/UX, we’ve released the spot exchange, and there’s a lot more coming… but one thing at a time! We’re definitely listening to you and we haven’t abandoned the idea, but we will reevaluate the stablecoin concept at a later date. 

That’s it for now, we hope that we’ve covered your questions here. Be sure to hit us up on our socials if not or directly on our site through our live chat function. And… don’t miss out on the wild volatility while getting paid to trade on Digitex.io. It looks set to be an interesting week!

Latest News

cryptocurrency

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange?

Digitex
• Digitex
April 23, 2021

As you may already know, we shared some awesome news last week about the launch of our new spot crypto exchange.

Introducing six new trading pairs, the spot exchange offers users the ability to buy, hold, and sell cryptocurrencies without using a third-party platform.

This also applies to the native exchange token DGTX, which you can now buy with ETH, BTC, or USDC directly on Digitex.

In this article, we will guide you through all the steps you need to take to trade cryptocurrency on the Digitex spot exchange.

How to Trade Cryptocurrency on the Digitex Spot Exchange (a Step-by-Step Guide)

Step 1: Create an Account

The first step to start trading crypto on the Digitex spot exchange is to create an account on the platform.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 9

To do that, head to the official website of the cryptocurrency exchange and click either the “Create Account” or the “Sign Up” button near the top right corner of the page.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 10

On the next page, fill in the form with your email and password as well as tick the two boxes to agree to the terms of use, and confirm that you are not a U.S. citizen.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 11

As the final step, Digitex sends a code to your email address, which you have to enter to verify your email.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 12

In exchange for confirming your identity, Digitex offers $25 in DGTX, which you can use to kickstart your trading journey on the cryptocurrency exchange. However, you need to hurry as the promotion is available only for a limited time!

In addition to KYC, we highly recommend enhancing your account’s security by turning on 2-Factor-Authentication (2FA) in the “Account” menu.

After initiating the setup, download the Google Authenticator app on your smartphone, scan the QR code, and type in the code you see on your other device where you have opened the Digitex platform.

Optionally, you can pass a super quick KYC verification by clicking the profile image icon in the top right corner of the page and heading to the “Account” menu.

Step 2: Deposit Funds

You need to deposit funds into your account to start trading on the Digitex spot exchange.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 13

To do so, click the blue “Deposit” button near the top right corner of the page.

After selecting the cryptocurrency (BTC, USDC, ETH, or DGTX), Digitex will show you an ERC-20 address where you have to deposit the digital assets.

Open your (external) crypto wallet, and either copy-paste or use your phone’s camera to scan the QR code of your Digitex address.

Upon ensuring that you send the right cryptocurrency to the correct address, select the amount to transfer, and execute the transaction.

After reaching the necessary network confirmations, your funds will be automatically credited to your Digitex account.

Step 3: Place a Trade

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 14

To start trading, head into the “Wallet” menu and click on the “Transfer” button.

Select the cryptocurrency and the amount to transfer from your main account to your trading account, and click the “Confirm” button when you are ready.

Digitex will automatically move your coins to your trading account so you can start buying and selling cryptocurrency on the platform.

As the next step, select a spot trading pair (e.g., DGTX/USDC) from the top menu.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 15

When you are on the trading page, scroll down to place either a limit or a market order to buy DGTX or any other cryptocurrency available on the Digitex spot exchange.

For market orders, choose the amount of digital assets to purchase – you also need to select the price as well as the type of the order (e.g., Good till canceled) for limit orders – and execute the trade.

Spot Exchange: Digitex’s Next Step in Evolution

Congratulations, you have made your first trade on the Digitex spot exchange!

Be sure to check out Digitex’s futures trading pairs as well to trade Ethereum and Bitcoin derivatives with zero fees and up to 100x leverage.

It’s important to mention that while you don’t need to hold DGTX on the spot exchange, you can only trade futures contracts on Digitex by owning DGTX.

However, with the new spot exchange, it’s easier than ever to buy DGTX, which you can do so now by heading to the following page.

April 23, 2021
Digitex

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange?

Digitex
cryptocurrency

As you may already know, we shared some awesome news last week about the launch of our new spot crypto exchange.

Introducing six new trading pairs, the spot exchange offers users the ability to buy, hold, and sell cryptocurrencies without using a third-party platform.

This also applies to the native exchange token DGTX, which you can now buy with ETH, BTC, or USDC directly on Digitex.

In this article, we will guide you through all the steps you need to take to trade cryptocurrency on the Digitex spot exchange.

How to Trade Cryptocurrency on the Digitex Spot Exchange (a Step-by-Step Guide)

Step 1: Create an Account

The first step to start trading crypto on the Digitex spot exchange is to create an account on the platform.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 16

To do that, head to the official website of the cryptocurrency exchange and click either the “Create Account” or the “Sign Up” button near the top right corner of the page.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 17

On the next page, fill in the form with your email and password as well as tick the two boxes to agree to the terms of use, and confirm that you are not a U.S. citizen.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 18

As the final step, Digitex sends a code to your email address, which you have to enter to verify your email.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 19

In exchange for confirming your identity, Digitex offers $25 in DGTX, which you can use to kickstart your trading journey on the cryptocurrency exchange. However, you need to hurry as the promotion is available only for a limited time!

In addition to KYC, we highly recommend enhancing your account’s security by turning on 2-Factor-Authentication (2FA) in the “Account” menu.

After initiating the setup, download the Google Authenticator app on your smartphone, scan the QR code, and type in the code you see on your other device where you have opened the Digitex platform.

Optionally, you can pass a super quick KYC verification by clicking the profile image icon in the top right corner of the page and heading to the “Account” menu.

Step 2: Deposit Funds

You need to deposit funds into your account to start trading on the Digitex spot exchange.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 20

To do so, click the blue “Deposit” button near the top right corner of the page.

After selecting the cryptocurrency (BTC, USDC, ETH, or DGTX), Digitex will show you an ERC-20 address where you have to deposit the digital assets.

Open your (external) crypto wallet, and either copy-paste or use your phone’s camera to scan the QR code of your Digitex address.

Upon ensuring that you send the right cryptocurrency to the correct address, select the amount to transfer, and execute the transaction.

After reaching the necessary network confirmations, your funds will be automatically credited to your Digitex account.

Step 3: Place a Trade

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 21

To start trading, head into the “Wallet” menu and click on the “Transfer” button.

Select the cryptocurrency and the amount to transfer from your main account to your trading account, and click the “Confirm” button when you are ready.

Digitex will automatically move your coins to your trading account so you can start buying and selling cryptocurrency on the platform.

As the next step, select a spot trading pair (e.g., DGTX/USDC) from the top menu.

How to Place a Trade on the Digitex Cryptocurrency Spot Exchange? 22

When you are on the trading page, scroll down to place either a limit or a market order to buy DGTX or any other cryptocurrency available on the Digitex spot exchange.

For market orders, choose the amount of digital assets to purchase – you also need to select the price as well as the type of the order (e.g., Good till canceled) for limit orders – and execute the trade.

Spot Exchange: Digitex’s Next Step in Evolution

Congratulations, you have made your first trade on the Digitex spot exchange!

Be sure to check out Digitex’s futures trading pairs as well to trade Ethereum and Bitcoin derivatives with zero fees and up to 100x leverage.

It’s important to mention that while you don’t need to hold DGTX on the spot exchange, you can only trade futures contracts on Digitex by owning DGTX.

However, with the new spot exchange, it’s easier than ever to buy DGTX, which you can do so now by heading to the following page.

Latest News

All The Ways to Use DGTX on Digitex.io + New Utilities Coming Soon 23

All The Ways to Use DGTX on Digitex.io + New Utilities Coming Soon

Digitex
• Digitex
April 20, 2021

If you’re already familiar with Digitex, you’ll know how unique we are in the business. As an exchange that’s built with our users’ interests in mind, there’s no other platform that lets futures traders execute aggressive short-term trading strategies to capitalize on even the smallest of price fluctuations. Because fee-charging exchanges render scalping strategies null and void, we facilitate commission-free trading through the use of the DGTX token. 

As the lifeblood of the exchange, DGTX is the ultimate utility token and has always been essential for trading on our platform. All traders must trade in DGTX, all account balances are denominated in DGTX, and all profits and losses are settled in our native token. And through the launch of Digitex.io, the DGTX token has been given even more use. Check out all the ways to use DGTX on our exchange–and get a sneak peek of some of our future plans to increase its utility.

  1. Trade on our Zero-fee Markets

If you’re a swing or scalp trader, there really are no better markets to trade than cryptocurrency–and there has never been a better time. With the insane volatility that bitcoin and ether are experiencing lately and as the volatile shocks shake weak hands out of the market, you can make money on Digitex.io by trading on our zero-free platform.

Whether you’re a seasoned futures trader, you’ve got a keen eye for buying the dips and selling the tops, or you simply like to buy and hold, you can now place all your trades commission free and withdraw all your funds without charge as well. 

We currently have two futures markets BTCUSD and ETHUSC with high liquidity and tight bid/ask spreads, and have added six spot trading pairs—DGTX/BTC, DGTX/ETH, ETH/BTC, BTC/USDC, ETH/USDC, DGTX/USDC. So, get started trading now and keep hold of all your profit.

  1. Earn Daily Rewards for Staking DGTX

If you’d rather put your DGTX to work for you to earn a passive income, you can earn daily DGTX rewards by staking your DGTX. Our monthly rewards are valued at $120,000 with up to 160% APY. Simply buy DGTX with zero fees through our Digitex Spot, visit Uniswap to create the DGTX/ETH pool token, connect your Metamask, and deposit your pool tokens into the DGTX Rewards wallet. It couldn’t be easier. Watch your rewards accumulate with one of the highest ROIs in the industry.

  1. Get Paid to Trade through Liquidity Mining 

Our Liquidity Mining program pays traders every minute for market-making on all our futures and spot markets–paying out over $8,000 in daily rewards. This means that, in addition to making trading gains, you can actually earn rewards every single minute.

In exchange for lending liquidity to Digitex’s markets and keeping our spread tight, we distribute up to 290 DGTX rewards proportionally every minute to those traders whose unmatched orders are the closest to the spot price at that time. This amounts to a massive 417,600 DGTX paid out daily!

What’s Coming Next?

Yesterday, we released a Q&A answering your most common questions about Digitex and our future plans. If you had a chance to check it out, you’ll know that we’re not promising launch dates anymore or trying to over-complicate plans as we move forward. But, we will be dropping regular releases every month that will all make the exchange more attractive to new users and existing ones as well.

We’re also working on ways to create more utility for the DGTX token. So, the next release you can expect to see is a staking program with DGTX that lets you earn other  cryptos on our exchange. We think this will be really popular based on community feedback and we’ll be offering some of the most favorable rates in the industry.

We’re also working really hard to roll out more futures markets later this year that are denominated in USDC and which can be traded with zero fees by staking DGTX to reduce or eliminate all trading commissions. This will add further utility to the DGTX token and we believe will attract the traders with bigger bankrolls that have so far been put off by the DGTX token’s volatility. No promises on timing for now, just know that we’re doing everything possible to make this work.

Digitex community, we’re happy to say that we’re on a good roll and our new development process is finally paying off. We appreciate all your positive and constructive feedback and we still have three quarters of the year to go… We’re going to make this happen.

April 20, 2021
Digitex

All The Ways to Use DGTX on Digitex.io + New Utilities Coming Soon

Digitex
All The Ways to Use DGTX on Digitex.io + New Utilities Coming Soon 24

If you’re already familiar with Digitex, you’ll know how unique we are in the business. As an exchange that’s built with our users’ interests in mind, there’s no other platform that lets futures traders execute aggressive short-term trading strategies to capitalize on even the smallest of price fluctuations. Because fee-charging exchanges render scalping strategies null and void, we facilitate commission-free trading through the use of the DGTX token. 

As the lifeblood of the exchange, DGTX is the ultimate utility token and has always been essential for trading on our platform. All traders must trade in DGTX, all account balances are denominated in DGTX, and all profits and losses are settled in our native token. And through the launch of Digitex.io, the DGTX token has been given even more use. Check out all the ways to use DGTX on our exchange–and get a sneak peek of some of our future plans to increase its utility.

  1. Trade on our Zero-fee Markets

If you’re a swing or scalp trader, there really are no better markets to trade than cryptocurrency–and there has never been a better time. With the insane volatility that bitcoin and ether are experiencing lately and as the volatile shocks shake weak hands out of the market, you can make money on Digitex.io by trading on our zero-free platform.

Whether you’re a seasoned futures trader, you’ve got a keen eye for buying the dips and selling the tops, or you simply like to buy and hold, you can now place all your trades commission free and withdraw all your funds without charge as well. 

We currently have two futures markets BTCUSD and ETHUSC with high liquidity and tight bid/ask spreads, and have added six spot trading pairs—DGTX/BTC, DGTX/ETH, ETH/BTC, BTC/USDC, ETH/USDC, DGTX/USDC. So, get started trading now and keep hold of all your profit.

  1. Earn Daily Rewards for Staking DGTX

If you’d rather put your DGTX to work for you to earn a passive income, you can earn daily DGTX rewards by staking your DGTX. Our monthly rewards are valued at $120,000 with up to 160% APY. Simply buy DGTX with zero fees through our Digitex Spot, visit Uniswap to create the DGTX/ETH pool token, connect your Metamask, and deposit your pool tokens into the DGTX Rewards wallet. It couldn’t be easier. Watch your rewards accumulate with one of the highest ROIs in the industry.

  1. Get Paid to Trade through Liquidity Mining 

Our Liquidity Mining program pays traders every minute for market-making on all our futures and spot markets–paying out over $8,000 in daily rewards. This means that, in addition to making trading gains, you can actually earn rewards every single minute.

In exchange for lending liquidity to Digitex’s markets and keeping our spread tight, we distribute up to 290 DGTX rewards proportionally every minute to those traders whose unmatched orders are the closest to the spot price at that time. This amounts to a massive 417,600 DGTX paid out daily!

What’s Coming Next?

Yesterday, we released a Q&A answering your most common questions about Digitex and our future plans. If you had a chance to check it out, you’ll know that we’re not promising launch dates anymore or trying to over-complicate plans as we move forward. But, we will be dropping regular releases every month that will all make the exchange more attractive to new users and existing ones as well.

We’re also working on ways to create more utility for the DGTX token. So, the next release you can expect to see is a staking program with DGTX that lets you earn other  cryptos on our exchange. We think this will be really popular based on community feedback and we’ll be offering some of the most favorable rates in the industry.

We’re also working really hard to roll out more futures markets later this year that are denominated in USDC and which can be traded with zero fees by staking DGTX to reduce or eliminate all trading commissions. This will add further utility to the DGTX token and we believe will attract the traders with bigger bankrolls that have so far been put off by the DGTX token’s volatility. No promises on timing for now, just know that we’re doing everything possible to make this work.

Digitex community, we’re happy to say that we’re on a good roll and our new development process is finally paying off. We appreciate all your positive and constructive feedback and we still have three quarters of the year to go… We’re going to make this happen.

Latest News

digitex

Your Questions Answered – Digitex Spot Markets

Digitex
• Digitex
April 19, 2021

Thank you very much to everyone who has sent in feedback and shared their experience of using Digitex spot markets so far. As always, we have been listening to what you have to say and collecting all your questions. Here, we answer any doubts you have about the UI, the features that are coming, our future plans, and more. Check it out.

Why is there no ladder interface for spot?

One question we received several times is why there’s no ladder interface yet for the spot markets. The answer is that it’s definitely coming. But we thought that starting with the traditional version would make it easier for new users to understand. After all, Digitex is still the only exchange in the industry to offer a trading ladder UI for our futures markets and, while we know that high-frequency futures traders love it, we didn’t want to scare off any beginners that are relatively new to crypto.

Will there be a use case for DGTX built into the spot markets?

We’re introducing a few types of programs and some are more complex than others. In fact, in one of our upcoming releases, we will be bring you a Staking Program that lets you earn a passive income on your DGTX (rewarded with other crypto; not DGTX). But DGTX staking built into our spot and futures trading markets is road-mapped for later this year. As you’ve probably noticed from our last two releases, the speed and quality of our development has improved. We’re now focused on short sprints so that each quarter you’ll be seeing something new released… this is the new way of Digitex development moving forward.

How long will withdrawals stay free?

Free withdrawals is a promotion, and we’ll see how it goes and how sustainable it is. If we see people abuse this then we’ll stop running it. Luckily, we haven’t had any problems with it so far and we know our loyal users really appreciate this feature, so we’d like to keep it as long as possible. In order for Digitex to really grow as a brand, we need to be distinctive and do things differently from other exchanges. No other exchange would ever consider removing withdrawal fees but, if you think about it, this feature brings so much value to the end of the user… so why not?

When will you add more tokens to spot markets?

Soon! But, we only just launched it and we want to test it more and build up the liquidity. Rest assured, however, when we’re ready, we’ll share details.

Is it possible to bring out a roadmap for future updates?

Honestly, we’ve learned our lesson from the past that roadmaps are particularly hard to stick to, especially when working with explorative technology in a constantly changing space. So, we’d rather not put any dates out for now, but just a rough estimate so as not to raise users’ expectations or overtask our developers. 

However, we can confirm that we’re releasing a DGTX Staking Platform in quarter two and, later in the year, we’ll have DGTX staking built into our markets, and a mobile app as well.

Will marketing start now that the spot market has been launched?

Yes. Actually, we have already started marketing and we are gradually going to start cranking it up. 

Is a stablecoin still being worked on?

We do have a solution to solve our DGTX-denominated market volatility, but it’s not a Digitex stablecoin. We can’t say more than this for now.

Why did you remove the Treasury?

Because we now have the spot markets and when we switched to the new website, we just updated the public Buy DGTX page to send traders directly to the spot market instead of buying from the treasury. It made more sense to do it that way.

How’s the work on the bots looking? Are you using a white label or building them custom?

User configurable bots are still on our roadmap and, in fact, they’re almost ready to be released. These will be an awesome addition to the exchange as they’re very easy to use, and traders will be able to access them from within their dashboard with zero fees. Regarding integrating with popular bots, that’s also roadmapped, but will require customization and integration with each particular bot. So, this is planned for later on in the year. 

That’s it for now, once again, we really appreciate your continued feedback and support and we’re glad to hear how much you’re enjoying the spot markets. Be sure to let us know if you have further questions by hitting us up on our socials, contacting live support, or opening a ticket. 

 

April 19, 2021
Digitex

Your Questions Answered – Digitex Spot Markets

Digitex
digitex

Thank you very much to everyone who has sent in feedback and shared their experience of using Digitex spot markets so far. As always, we have been listening to what you have to say and collecting all your questions. Here, we answer any doubts you have about the UI, the features that are coming, our future plans, and more. Check it out.

Why is there no ladder interface for spot?

One question we received several times is why there’s no ladder interface yet for the spot markets. The answer is that it’s definitely coming. But we thought that starting with the traditional version would make it easier for new users to understand. After all, Digitex is still the only exchange in the industry to offer a trading ladder UI for our futures markets and, while we know that high-frequency futures traders love it, we didn’t want to scare off any beginners that are relatively new to crypto.

Will there be a use case for DGTX built into the spot markets?

We’re introducing a few types of programs and some are more complex than others. In fact, in one of our upcoming releases, we will be bring you a Staking Program that lets you earn a passive income on your DGTX (rewarded with other crypto; not DGTX). But DGTX staking built into our spot and futures trading markets is road-mapped for later this year. As you’ve probably noticed from our last two releases, the speed and quality of our development has improved. We’re now focused on short sprints so that each quarter you’ll be seeing something new released… this is the new way of Digitex development moving forward.

How long will withdrawals stay free?

Free withdrawals is a promotion, and we’ll see how it goes and how sustainable it is. If we see people abuse this then we’ll stop running it. Luckily, we haven’t had any problems with it so far and we know our loyal users really appreciate this feature, so we’d like to keep it as long as possible. In order for Digitex to really grow as a brand, we need to be distinctive and do things differently from other exchanges. No other exchange would ever consider removing withdrawal fees but, if you think about it, this feature brings so much value to the end of the user… so why not?

When will you add more tokens to spot markets?

Soon! But, we only just launched it and we want to test it more and build up the liquidity. Rest assured, however, when we’re ready, we’ll share details.

Is it possible to bring out a roadmap for future updates?

Honestly, we’ve learned our lesson from the past that roadmaps are particularly hard to stick to, especially when working with explorative technology in a constantly changing space. So, we’d rather not put any dates out for now, but just a rough estimate so as not to raise users’ expectations or overtask our developers. 

However, we can confirm that we’re releasing a DGTX Staking Platform in quarter two and, later in the year, we’ll have DGTX staking built into our markets, and a mobile app as well.

Will marketing start now that the spot market has been launched?

Yes. Actually, we have already started marketing and we are gradually going to start cranking it up. 

Is a stablecoin still being worked on?

We do have a solution to solve our DGTX-denominated market volatility, but it’s not a Digitex stablecoin. We can’t say more than this for now.

Why did you remove the Treasury?

Because we now have the spot markets and when we switched to the new website, we just updated the public Buy DGTX page to send traders directly to the spot market instead of buying from the treasury. It made more sense to do it that way.

How’s the work on the bots looking? Are you using a white label or building them custom?

User configurable bots are still on our roadmap and, in fact, they’re almost ready to be released. These will be an awesome addition to the exchange as they’re very easy to use, and traders will be able to access them from within their dashboard with zero fees. Regarding integrating with popular bots, that’s also roadmapped, but will require customization and integration with each particular bot. So, this is planned for later on in the year. 

That’s it for now, once again, we really appreciate your continued feedback and support and we’re glad to hear how much you’re enjoying the spot markets. Be sure to let us know if you have further questions by hitting us up on our socials, contacting live support, or opening a ticket. 

 

Latest News

Ethereum

The Future Price of Ethereum — Technical Analysis

Digitex Futures
• Dave Reiter
April 12, 2021

Similar to other coins and tokens, Ethereum has generated a substantial rally throughout the past six months. Specifically, ETH has increased 498%, outperforming BTC by approximately 60% during the same time period (see chart 1 below). So, where do we go from here? How will ETH perform for the remainder of 2021 and beyond? Let’s explore the details.

The Future Price of Ethereum — Technical Analysis 25

The Difference Between Ethereum and Ether

In terms of market capitalization, ETH is the second-largest cryptocurrency in the crypto universe. Only Bitcoin has a larger market capitalization. ETH has enjoyed some explosive price moves throughout its brief 6-year history. But, before we analyze the future price direction of ETH, let’s briefly discuss the difference between Ethereum and Ether.

There seems to be some confusion regarding these two crypto terms. Ethereum is a blockchain-based platform used for writing autonomous smart contracts and decentralized applications. Ether is the cryptocurrency that serves as the fuel to power the smart contracts, apps, and other transactions on the Ethereum blockchain.

Although most people in the crypto community (including many crypto websites) use these words interchangeably, they are actually quite different in terms of how they are used in the crypto ecosystem.

Use Cases for Ethereum Blockchain Continue to Expand

In this article, we will be analyzing the price direction of Ether (ETH), the cryptocurrency. However, it’s also important to discuss Ethereum, the blockchain, because it lays the foundation for the current ETH bull market. It seems almost impossible to believe that Ether was trading below $100 per token less than 15 months ago (see chart 2).

The Future Price of Ethereum — Technical Analysis 26

Over the course of the past 15 months, ETH has exploded to the upside by increasing 2,226%. Since March 2020, ETH has been one of the top-performing cryptocurrencies within the entire crypto universe. Ether easily outperformed Bitcoin during this particular time period, 2,226% versus 1,388%.

The majority of Ether’s gains can be attributed to the fact that the total number of use cases for the Ethereum blockchain has increased substantially. Unlike the Bitcoin blockchain, Ethereum can be used for multiple applications across a wide variety of industries. Several of these applications have evolved into legitimate and profitable business enterprises with exponential growth potential. Let’s briefly examine a few of these Ethereum-based businesses.

DeFi (Decentralized Finance)

Without question, the most exciting new business linked to Ethereum is decentralized finance, more commonly known as DeFi. Although DeFi has been in existence for less than four years, it has gained an incredible amount of interest from venture capital firms and angel investors who see the enormous potential in this new space.

Without going into great detail, DeFi competes head-to-head with the legacy financial services industry, with an estimated value of $26.5 trillion by 2022, according to data gathered by The World Bank. Based on these numbers, the upside potential in DeFi is massive. This is great news if you are an owner of ETH because the overwhelming majority of the DeFi ecosystem operates on the Ethereum blockchain.

NFTs (Non-Fungible Tokens)

Another business venture associated with Ethereum is non-fungible tokens (NFT), which have witnessed a tremendous wave of enthusiasm from investors and speculators during the past few months. Very briefly, non-fungible tokens allow non-fungible assets to possess unique properties that completely change the user and development relationship of these assets.

Examples of non-fungible digital assets include digital collectibles, such as in-game items and characters, virtual pets, and representations of fine art. By attaching unique properties such as immutability and scarcity to non-fungible assets, it substantially increases the value of said assets.

Almost the entire NFT industry operates on the Ethereum blockchain, which is obviously bullish for ETH. Arguably, the most exciting part of NFTs is the fact that young people are heavily involved in this exciting new space. Consequently, this will provide Generation Z with an opportunity to familiarize themselves with cryptocurrencies and other digital assets. This is very bullish from a long-term perspective.

In addition to DeFi and NFT, the Ethereum blockchain is also actively engaged in enterprise software, which is used by organizations, businesses, charities, schools, and governments to handle day-to-day operations across a wide variety of internal departments within each organization.

These daily operations would include such tasks as human resources, supply chain management, database management, CRM, security, and billing systems. Enterprise software companies are using a privatized version of the Ethereum network to provide their services to companies like Microsoft, IBM, JPMorgan Chase, and Deloitte.

These are just a few examples of how the Ethereum blockchain is linked to industries and businesses across the global economy. Of course, this is extremely bullish for ETH because these companies and businesses must purchase ETH in order to pay for their services on the Ethereum blockchain. Many crypto experts believe that the number of use cases for Ethereum will continue to expand as blockchain technology becomes more common throughout the global economy.

Using TA to Forecast the Price of ETH

Technical analysis has been extremely useful in forecasting the future price direction of ETH. Let’s review a few of these indicators.

Arguably, the most reliable technical indicator in modern history was created by a twelfth-century Italian mathematician by the name of Leonardo Fibonacci. The vast majority of mathematical historians consider Fibonacci to be the greatest mathematician of the Middle Ages. In fact, many experts in the field of mathematics claim that Fibonacci was one of the ten greatest mathematicians of all time.

Fibonacci made several important contributions to the field of mathematics throughout his life. However, he will always be most famously known for Fibonacci numbers, which are a sequence of numbers developed by Fibonacci circa 1202.

Fibonacci numbers are used in the study of nature, music, agriculture, computer applications, price forecasting, and several other fields of study. Stock and commodity traders use “Fib” numbers to calculate support and resistance levels.

The most common Fib levels are:

  • .236
  • .382
  • .500
  • .618
  • .786
  • 000

It’s not uncommon for financial assets like cryptocurrencies to fluctuate between Fibonacci support and resistance levels for long periods of time. When a major breakout finally occurs, it usually marks the beginning of a substantial move.

The crypto trading community would love to know the final top in ETH before a new bear market ensues, probably near the end of 2021 or early-2022. Of course, it’s impossible to accurately forecast the final top of any speculative asset. Cryptocurrencies are particularly difficult because we have such a small sample size of historical data. However, we can use Fibonacci numbers to develop an educated forecast concerning the final top for Ether. Please review the calculation on Chart 3 below:

The Future Price of Ethereum — Technical Analysis 27

There are several different ways to use Fib levels as a forecasting device. The most popular format involves calculating the price difference between two important price levels. For this particular calculation, we selected the historic high from January 2018 and the subsequent low achieved in December of the same year.

The majority of Fibonacci experts agree that .618 is the most significant Fib level. Therefore, we will use this number in our calculation. Based on the Fibonacci calculation, the final top for this cycle will be 4,921.73. If ETH follows the same path as the 2017 bull market, the top will occur in late-2021.

Another useful technical indicator is the Relative Strength Index (RSI), which was created by J Welles Wilder Jr, one of the greatest technical analysts in the history of financial markets. RSI is a momentum indicator that measures the overbought or oversold condition of a speculative asset. RSI is typically displayed in an oscillator format, which fluctuates between 0 and 100.

Generally speaking, a market is considered overbought if the RSI reading exceeds 70. Conversely, the market is considered oversold if the RSI reading falls below 30. Many traders will use a reading above 70 as a trigger to generate a sell signal and a reading below 30 will generate a buy signal. However, this is not a good strategy to follow in a momentum-fueled environment like cryptocurrencies. Please review Chart number 4:

The Future Price of Ethereum — Technical Analysis 28

The RSI reading has been above 70 since November 9, 2020, when ETH was trading @ 446.10. Obviously, this was not a good time to sell ETH. In fact, this would have been a great time to buy Ether. Therefore, an argument could be made that the optimum way to use RSI for trending markets like cryptocurrencies is to wait for a bullish breakout above 70 as a buy signal. A bearish breakout below 30 would constitute a sell signal. Trying to pick tops and bottoms in a trending market is a recipe for disaster. As Chart #4 clearly demonstrates, the best course of action is to follow the momentum.

In addition to RSI, another momentum-based indicator is the Money Flow Index (MFI). This indicator measures the inflow and outflow of money into a speculative asset over a specific period of time. It uses price and volume to calculate trading pressure. Arguably, MFI is the purest way to determine the amount of money entering and leaving a particular asset class.

Similar to RSI, the index fluctuates between 0 and 100. In terms of trending markets like cryptocurrencies, the best way to apply MFI is to wait for a bullish breakout above 70 or a bearish breakout below 30. MFI is located at the bottom of Chart #5.

The Future Price of Ethereum — Technical Analysis 29

An Ether buy signal was generated @ 509.11 on November 23, 2020, when MFI penetrated the 70 level. MFI has been continuously above 70 for the past five months. This is a perfect example of why it’s best to follow the trend of the market and avoid the temptation to pick a top or bottom.

At least for now, the trend of ETH is clearly in favor of the bulls. The vast majority of technical indicators are forecasting a continuation of the bull market. In addition to technical analysis, the fundamental backdrop for Ether is extremely bullish, as more use cases are being added to the Ethereum blockchain. Eventually, this bullish cycle will end and a new bear cycle will begin. However, this current bullish phase could easily continue for the remainder of 2021.

Don’t forget that whether the price of ETH goes up or down, you can make money trading ETH futures on our zero-fee rapid-fire ladder trading platform. Sign up here to find out how easy it is to profit from even the smallest of price fluctuations when you’re not constantly losing out to commissions. 

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.

April 12, 2021
Digitex Futures

The Future Price of Ethereum — Technical Analysis

Dave Reiter
Ethereum

Similar to other coins and tokens, Ethereum has generated a substantial rally throughout the past six months. Specifically, ETH has increased 498%, outperforming BTC by approximately 60% during the same time period (see chart 1 below). So, where do we go from here? How will ETH perform for the remainder of 2021 and beyond? Let’s explore the details.

The Future Price of Ethereum — Technical Analysis 30

The Difference Between Ethereum and Ether

In terms of market capitalization, ETH is the second-largest cryptocurrency in the crypto universe. Only Bitcoin has a larger market capitalization. ETH has enjoyed some explosive price moves throughout its brief 6-year history. But, before we analyze the future price direction of ETH, let’s briefly discuss the difference between Ethereum and Ether.

There seems to be some confusion regarding these two crypto terms. Ethereum is a blockchain-based platform used for writing autonomous smart contracts and decentralized applications. Ether is the cryptocurrency that serves as the fuel to power the smart contracts, apps, and other transactions on the Ethereum blockchain.

Although most people in the crypto community (including many crypto websites) use these words interchangeably, they are actually quite different in terms of how they are used in the crypto ecosystem.

Use Cases for Ethereum Blockchain Continue to Expand

In this article, we will be analyzing the price direction of Ether (ETH), the cryptocurrency. However, it’s also important to discuss Ethereum, the blockchain, because it lays the foundation for the current ETH bull market. It seems almost impossible to believe that Ether was trading below $100 per token less than 15 months ago (see chart 2).

The Future Price of Ethereum — Technical Analysis 31

Over the course of the past 15 months, ETH has exploded to the upside by increasing 2,226%. Since March 2020, ETH has been one of the top-performing cryptocurrencies within the entire crypto universe. Ether easily outperformed Bitcoin during this particular time period, 2,226% versus 1,388%.

The majority of Ether’s gains can be attributed to the fact that the total number of use cases for the Ethereum blockchain has increased substantially. Unlike the Bitcoin blockchain, Ethereum can be used for multiple applications across a wide variety of industries. Several of these applications have evolved into legitimate and profitable business enterprises with exponential growth potential. Let’s briefly examine a few of these Ethereum-based businesses.

DeFi (Decentralized Finance)

Without question, the most exciting new business linked to Ethereum is decentralized finance, more commonly known as DeFi. Although DeFi has been in existence for less than four years, it has gained an incredible amount of interest from venture capital firms and angel investors who see the enormous potential in this new space.

Without going into great detail, DeFi competes head-to-head with the legacy financial services industry, with an estimated value of $26.5 trillion by 2022, according to data gathered by The World Bank. Based on these numbers, the upside potential in DeFi is massive. This is great news if you are an owner of ETH because the overwhelming majority of the DeFi ecosystem operates on the Ethereum blockchain.

NFTs (Non-Fungible Tokens)

Another business venture associated with Ethereum is non-fungible tokens (NFT), which have witnessed a tremendous wave of enthusiasm from investors and speculators during the past few months. Very briefly, non-fungible tokens allow non-fungible assets to possess unique properties that completely change the user and development relationship of these assets.

Examples of non-fungible digital assets include digital collectibles, such as in-game items and characters, virtual pets, and representations of fine art. By attaching unique properties such as immutability and scarcity to non-fungible assets, it substantially increases the value of said assets.

Almost the entire NFT industry operates on the Ethereum blockchain, which is obviously bullish for ETH. Arguably, the most exciting part of NFTs is the fact that young people are heavily involved in this exciting new space. Consequently, this will provide Generation Z with an opportunity to familiarize themselves with cryptocurrencies and other digital assets. This is very bullish from a long-term perspective.

In addition to DeFi and NFT, the Ethereum blockchain is also actively engaged in enterprise software, which is used by organizations, businesses, charities, schools, and governments to handle day-to-day operations across a wide variety of internal departments within each organization.

These daily operations would include such tasks as human resources, supply chain management, database management, CRM, security, and billing systems. Enterprise software companies are using a privatized version of the Ethereum network to provide their services to companies like Microsoft, IBM, JPMorgan Chase, and Deloitte.

These are just a few examples of how the Ethereum blockchain is linked to industries and businesses across the global economy. Of course, this is extremely bullish for ETH because these companies and businesses must purchase ETH in order to pay for their services on the Ethereum blockchain. Many crypto experts believe that the number of use cases for Ethereum will continue to expand as blockchain technology becomes more common throughout the global economy.

Using TA to Forecast the Price of ETH

Technical analysis has been extremely useful in forecasting the future price direction of ETH. Let’s review a few of these indicators.

Arguably, the most reliable technical indicator in modern history was created by a twelfth-century Italian mathematician by the name of Leonardo Fibonacci. The vast majority of mathematical historians consider Fibonacci to be the greatest mathematician of the Middle Ages. In fact, many experts in the field of mathematics claim that Fibonacci was one of the ten greatest mathematicians of all time.

Fibonacci made several important contributions to the field of mathematics throughout his life. However, he will always be most famously known for Fibonacci numbers, which are a sequence of numbers developed by Fibonacci circa 1202.

Fibonacci numbers are used in the study of nature, music, agriculture, computer applications, price forecasting, and several other fields of study. Stock and commodity traders use “Fib” numbers to calculate support and resistance levels.

The most common Fib levels are:

  • .236
  • .382
  • .500
  • .618
  • .786
  • 000

It’s not uncommon for financial assets like cryptocurrencies to fluctuate between Fibonacci support and resistance levels for long periods of time. When a major breakout finally occurs, it usually marks the beginning of a substantial move.

The crypto trading community would love to know the final top in ETH before a new bear market ensues, probably near the end of 2021 or early-2022. Of course, it’s impossible to accurately forecast the final top of any speculative asset. Cryptocurrencies are particularly difficult because we have such a small sample size of historical data. However, we can use Fibonacci numbers to develop an educated forecast concerning the final top for Ether. Please review the calculation on Chart 3 below:

The Future Price of Ethereum — Technical Analysis 32

There are several different ways to use Fib levels as a forecasting device. The most popular format involves calculating the price difference between two important price levels. For this particular calculation, we selected the historic high from January 2018 and the subsequent low achieved in December of the same year.

The majority of Fibonacci experts agree that .618 is the most significant Fib level. Therefore, we will use this number in our calculation. Based on the Fibonacci calculation, the final top for this cycle will be 4,921.73. If ETH follows the same path as the 2017 bull market, the top will occur in late-2021.

Another useful technical indicator is the Relative Strength Index (RSI), which was created by J Welles Wilder Jr, one of the greatest technical analysts in the history of financial markets. RSI is a momentum indicator that measures the overbought or oversold condition of a speculative asset. RSI is typically displayed in an oscillator format, which fluctuates between 0 and 100.

Generally speaking, a market is considered overbought if the RSI reading exceeds 70. Conversely, the market is considered oversold if the RSI reading falls below 30. Many traders will use a reading above 70 as a trigger to generate a sell signal and a reading below 30 will generate a buy signal. However, this is not a good strategy to follow in a momentum-fueled environment like cryptocurrencies. Please review Chart number 4:

The Future Price of Ethereum — Technical Analysis 33

The RSI reading has been above 70 since November 9, 2020, when ETH was trading @ 446.10. Obviously, this was not a good time to sell ETH. In fact, this would have been a great time to buy Ether. Therefore, an argument could be made that the optimum way to use RSI for trending markets like cryptocurrencies is to wait for a bullish breakout above 70 as a buy signal. A bearish breakout below 30 would constitute a sell signal. Trying to pick tops and bottoms in a trending market is a recipe for disaster. As Chart #4 clearly demonstrates, the best course of action is to follow the momentum.

In addition to RSI, another momentum-based indicator is the Money Flow Index (MFI). This indicator measures the inflow and outflow of money into a speculative asset over a specific period of time. It uses price and volume to calculate trading pressure. Arguably, MFI is the purest way to determine the amount of money entering and leaving a particular asset class.

Similar to RSI, the index fluctuates between 0 and 100. In terms of trending markets like cryptocurrencies, the best way to apply MFI is to wait for a bullish breakout above 70 or a bearish breakout below 30. MFI is located at the bottom of Chart #5.

The Future Price of Ethereum — Technical Analysis 34

An Ether buy signal was generated @ 509.11 on November 23, 2020, when MFI penetrated the 70 level. MFI has been continuously above 70 for the past five months. This is a perfect example of why it’s best to follow the trend of the market and avoid the temptation to pick a top or bottom.

At least for now, the trend of ETH is clearly in favor of the bulls. The vast majority of technical indicators are forecasting a continuation of the bull market. In addition to technical analysis, the fundamental backdrop for Ether is extremely bullish, as more use cases are being added to the Ethereum blockchain. Eventually, this bullish cycle will end and a new bear cycle will begin. However, this current bullish phase could easily continue for the remainder of 2021.

Don’t forget that whether the price of ETH goes up or down, you can make money trading ETH futures on our zero-fee rapid-fire ladder trading platform. Sign up here to find out how easy it is to profit from even the smallest of price fluctuations when you’re not constantly losing out to commissions. 

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.

Latest News