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DigixDAO has decided to return $62.5 million to investors after the community voted overwhelmingly in favor of treasury's liquidation.

Out of a total of 56 votes, 95% supported Project Ragnarok to return the initial coin offering (ICO) funds to investors. Investors will now receive 0.19 ETH per DGD (Digix) token held.

DigixDAO raised a total of 4,50,000 ETH in 2016 via ICO. The Treasury currently holds about 380K ETH in two different addresses, which will be transferred to Refund Contract to facilitate transfer to investors.

The vote was conducted after developers responded to community requests by introducing a mechanism for dissatisfied DGD token holders to make a clean break from DigixDAO.

DGD hits highest since June

The bid tone around DGD strengthened on Monday following the news of Treasury liquidation, sending the price higher to $32.15, the level last seen on June 2018, 2019.

The cryptocurrency ended Monday with 15 percent gains and was last seen changing hands near $31.00 on Binance.

Digix tokens

DGD is used as a governance token for decentralized and autonomous community of DigixDAO. In 2018, Digix issued a gold-backed token DGX.

Digix and the gold-backed DGX token will continue to operate after return of ICO funds.

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Consolidation Continues

BTC: Price: $8,640 | Market cap: $157 billion | 24-Hr Volume: $28 billion

Trend: Bullish

Bitcoin remains trapped in the $8,461-$8,750 range for the second day. A range breakout would imply an end of the correction from Sunday's high of $9,188 and would shift risk in favor of a re-test of the 200-day average at $9,015.

However, if the range is breached to the downside, the focus would shift to support at $8,200 and $8,000.

The broader market conditions look bullish with the weekly chart reporting a falling channel breakout. Further, the weekly MACD histogram, an indicator used to identify trend strength and trend reversal, looks set to cross above zero next week, confirming a bullish reversal for the first time since mid-August.

As a result, bitcoin is more likely to end the two-day trading range with an upside breakout.

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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.

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