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DGE, a blockchain developer based in South Korea, listed its cryptocurrency TMTG on IDCM Exchange in Hong Kong at midnight, August 2nd.
TMTG has been developed to run on the developer’s platform, Digital Gold Exchange, from which the TMTG can be used to buy digital gold MDG. One MDG is tied to 1g of real gold and can be exchanged with actual gold bars through affiliated Gold Exchanges. This affiliation with gold has garnered much attention even before the listing.
On the day before the listing, a DGE official said its aim is to “rank as one of Top 5 cryptocurrency in market value.”
According to Coin Market Cap, Bitcoin currently ranks as No. 1 in market value at $111.5 billion and EOS as No. 5 at $5.1 billion. While TMTG is not yet listed on Coin Market Cap, the current coin market value is estimated at approximately $14.6 Billion (as of August 10, 2018). This places TMTG at No. 3, surpassing XRP at $13.3 Billion.
While coin market value rankings are subject to fluctuation due to market conditions, DGE aims to continue to grow its value due to its direct correlation with real gold.
DGE is in the process of finalizing integrated platform and cryptogames development, as well as gold supply agreement with international gold exchanges.
CEO Kwag said, “we are confident that with our additional listings later this year, launch of new cryptogames, and affiliation with other global platforms, TMTG will create a new paradigm for users.”
TMTG will also be listed on one of top 20 global exchanges, CoinSuper, on August 16th.