DMarket’s token sale ended on the first of December last year, but the company failed to follow it up with a listing. The ultimate goal of every token is to find its way into the coin market, so it was surprising that the company didn’t do so early in the new year.
For utility altcoins like Dmarket’s token, the DMT, it’s important to get listed in a crypto exchange to achieve a high-level of speculation on the coin market to increase the value of their assets, once the crowd sale has ended.
However, unlike many of the ICOs that failed last year because they were either badly executed or were just outright scams, DMarket took a patient approach. While continuing to be highly active on social media issuing regular updates, the company went through a lengthy legal process to ensure regulatory compliance.
At the same time, the team also established a partnership with Unity Technologies, the planet’s most popular 3D development platform. This means that you can engage in in-game digital asset trading or transactions across all Unity-based games that are now connected to DMarket’s blockchain.
This would come as good news for investors holding on to their DMarket tokens. But what’s even better is the fact that DMarket tokens just got listed in three of the world’s leading cryptocurrency exchanges, Bittrex and Upbit. Taking to account that Bittrex had delisted lots of coins recently, DMarket seems to be a reliable project with a big potential.
While investors might have had concerns in the past, the wait was worthwhile. DMarket’s token is already performing well on these major crypto exchanges and is currently ranked at 19th on the WorldCoinIndex.
During the first phase of the token sale the price for DMT was around $0.22-0.25. Recently the token holders were able to trade DMT for $2. Such a high profitability in such a short period of time has never been seen even by the most popular cryptocurrencies.
There is now an immense potential for the value of DMT to skyrocket because the team is not only taking the right steps to ensure compliance and establish strong partnerships, DMarket’s Founder and CEO Vlad Panchenko, is also known for his focus on transparency.
As estimated, the in-game items trading volume has the potential to reach $450 billion in the near future. Given DMarket issued 56,921,773 tokens, even if it gets 50% of that volume, DMT’s potential is $3,952.
So while you will certainly hear about many more companies that have raised funding through ICOs shutdown this year, DMarket is moving forward from strength to strength by ensuring that proper processes are always adhered to.
As the blockchain continues to grow in importance and disrupts every industry imaginable, the future looks bright for all DMT token holders. Furthermore, as DMT is finally being traded on Bittrex and South Korea’s leading crypto exchange Upbit, all past concerns can be laid to rest as their investment is set on a strong business model that’s built on a solid technological and legal foundation.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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