DIA coin has largely been under bearish pressures since December; however, the recent price actions reveal the cryptocurrency to have broken its downtrend. The bulls have taken over the token. At the time of writing, the crypto stands at a price level of $1.30. The price has increased by more than 30% during the past twenty-four hours while the trading volume has surged upwards by a staggering 3,000%. The trading volume to market capitalization ratio of the token is 3.41 indicating the current surge in interest. DIA token has a market rank of #435 with a fast-growing capitalization. The community is currently highly bullish on the token indicating a possibility of the price trading at $2.
What is DIA?
DIA stands for Decentralized Information Asset. Blockchain technology celebrates decentralization; however, because of the technology’s novelty securing accurate data has been a hard task which is why developers oftentimes resort to centralized sources of data. True innovation was brought by Chainlink – a decentralized oracle – and other projects have followed suit. DIA works similar to Chainlink as it is a decentralized open-source oracle platform with cross-chain compatibility. The platform is geared specifically to Web 3.0 applications. It enables complete verification and sourcing of data to ensure that nothing less than accurate data is being used in the blockchain market.
The DIA platform collects data from various sources – be it traditional or decentralized – and provides storage and sanitization services. After which, an interface is provided through which decentralized applications can access and utilize the data available. Some of the kinds of data available are price feeds, metaverse-related data, lending rates, etc.
Future outlook
The current surge of the DIA token can be attributed to the recent developments of the platform. The token got listed on Coinbase Exchange – indicating its growing presence in the market. LunarCrush has ranked the token at first place out of 3,560 based on social and market activity. DIA also announced a partnership with a crypto benchmark administrator – CF Benchmarks. CF Benchmarks will be utilizing the platform’s data for its crypto indexes.
The recent developments and token performance has given DIA a bullish future outlook. According to the estimates of Digital Coin Price, the cryptocurrency is expected to be operating at a price level of $1.76 by the end of the year while the five-year price projection places it at $3.49.
