DigitalBits has been one of the top performers in the recent timeframes; however, price movements during the day indicates a bearish downturn of the cryptocurrency. The weekly performance was up by 45% for the token as it emerged from brutal market corrections but the bulls have lost their dominance for the cryptocurrency as the current price movements show a decline of 8% in the past twenty-four hours. At the time of writing, XDB token stands at a price level of $0.44. The daily trading volume has also fallen by more than 50% for the token. The daily high and low lie at $0.49 and $0.42 respectively. The cryptocurrency stands at a market rank of #160. 

DigitalBits: Recent developments 

There has been a lot going on in the network which has previously enabled the cryptocurrency to break free of its bearish downturn. Moreover, the development team is also teasing the community with a year-end giveaway which may cause another temporary hike in the price level. 

During the beginning of December, DigitalBits held a blockchain hackathon in search of projects which will enable the integration of the platform with everyday applications. Last week, the team announced the three winners of the hackathon with each of the project having something very interesting planned for the ecosystem. The three winners of the hackathon were Coffee Chain – a blockchain-based platform which enables users to buy completely organic & authentic products, Cobalt – an asset management platform – and EstateUp which is working towards digitizing the paper-based system of wills. 

Apart from this, DigitalBits also announced its first ever Global Brand Ambassador during an exclusive press conference in Rome. Franceso Totti – an Italian former professional footballer – is the first global ambassador of the network and has ambitious plans of helping the network grow and prosper. All in all, the press conference was a success and the onboarding of a former professional footballer as a brand ambassador will definitely play a positive role in the branding of the network. 

Future outlook 

DigitalBits regards itself to be the blockchain for brands and is designed to support consumer brand assets. The project has been gaining momentum during the year and the recent developments hint towards a bullish future outlook. According to the estimates of Digital Coin Price, the cryptocurrency is expected to be operating at a price level of $0.71 in a year’s time while the five-year projection places it at $1.1.