Home Blog Page 29

Google searches for Dogecoin surpass Bitcoin for the first time

    By
    underratedcrypto
    -
    0
    Google searches for Dogecoin surpass Bitcoin for the first time

    Dogecoin has become one of the most popular cryptocurrencies, following a massive rally in the past few months. The support from popular figures such as Elon Musk has piqued people’s interest in the cryptocurrency. Hence, this allowed it to surpass Bitcoin for the first time in Google search.

    Dogecoin’s Google search surpasses that of Bitcoin

    Global interest in Dogecoin has been massive in recent months. The interest came from its rally which saw a rise by over 5,000% in the past few weeks. The interest in the cryptocurrency is measured by search engine statistics, and it has surpassed Bitcoin in this area for the first time.

    According to Google trends, Dogecoin’s searches are higher than Bitcoin’s at the moment. From May  2nd May 8th, Dogecoin had a 100 score on Google Trends, while Bitcoin scored 55/100 within the same period.

    This comes after a dramatic rise in price and popularity for Dogecoin. Last month, DOGE gained 80% in value in a single day, and its year-to-date return is over 5,000%. Its rally saw it overtake several cryptocurrencies in terms of market cap and it is now the fourth-largest cryptocurrency in the world.

    Dogecoin underperforms despite the recent increase in interest

    Despite the rise in interest in the cryptocurrency, Dogecoin has underperformed in the past few days. It dropped from its all-time high above $0.7 this weekend despite Elon Musk mentioning the cryptocurrency on Saturday Night Live. At the moment, DOGE is trading at $0.50, down by 1.66% over the past 24 hours.

    UBS exploring ways to grant wealthy clients access to crypto

      By
      underratedcrypto
      -
      0
      UBS exploring ways to grant wealthy clients access to crypto

      The influx of traditional banks into the cryptocurrency space has been massive in recent months. The trend seems to continue, and Swiss bank UBS could be the next bank to offer its wealthy clients access to cryptocurrencies.

      UBS could offer crypto services due to the high demand

      Swiss bank UBS has revealed that it is exploring various ways to offer its clients access to cryptocurrencies. This latest development could make UBS the next high-profile bank to offer such access to its clients.

      Bloomberg reported this earlier today, citing people close to the matter. According to the report, the bank is exploring various ways to offer cryptocurrency access to its clients. Bloomberg added that the investment offering would be for wealthy clients. As well, they can only allocate a small portion of their total holdings. This is to reduce the risks associated with cryptocurrencies.

      UBS, in a statement, said, “We are monitoring the developments in the field of digital assets closely. Importantly, we are most interested in the technology which underpins digital assets, namely the distributed ledger technology.”

      A source told Bloomberg that the bank is also considering providing the services through third-party investment vehicles. However, they didn’t provide further details on who UBS intends to partner with.

      More traditional banks are joining the crypto wagon

      If UBS provides this service, it would be similar to what Goldman Sachs and Morgan Stanley are offering their wealthy clients. The investment banks allow their wealthy clients to gain exposure to the leading cryptocurrencies. Likewise, U.S Bank is also offering cryptocurrency services to its clients.

      Citigroup and JPMorgan are two other leading investment banks that are also considering granting their wealthy clients access to the digital currencies. UBS’s local rival Julius Baer Group is also planning to enter the cryptocurrency space. The CEO Philipp Rickenbacher disclosed this at a conference last week. He stated that Julius Baer is currently working with partners to offer its clients access to cryptocurrencies.

      Cryptocurrency adoption by traditional banks has been significant over the past year. The huge demand for crypto-related services from clients is one of the key reasons financial institutions are starting to enter the market.

      Bitcoin’s rally from roughly $7,000 a year ago to an all-time high near $65,000 a few weeks ago has helped convince several retail and institutional investors to enter the market. Bitcoin’s total market cap is now above $1 trillion, making it a very valuable asset for numerous investors.

      Source: Cryptonary

      Will Tesla add Dogecoin as next payment option? Elon asks in Twitter poll

        By
        underratedcrypto
        -
        0
        Will Tesla add Dogecoin as next payment option? Elon asks in Twitter poll

        Elon Musk, the CEO of Tesla Inc. today conducted a Twitter poll asking his 5o million-plus followers to vote on whether Tesla should accept Dogecoin as a form of payment. The Twitter poll could very well lead to Tesla adding Dogecoin payment for their very popular electric cars just a month after adding Bitcoin as a form of payment on their website for US customers.

        Going by Musk’s reputation, the Twitter poll could lead to the addition of meme currency as a form of payment for the most valuable car company. While Musk has been a Doge promoter for quite some time now and even shilled it during his recent SNL appearance, many had called him out for shilling Doge to his millions of followers while Tesla bought Bitcoin.

        Doge price also retraced by 40% post Musk’s SNL appearance leading to many new amateur investors losing a significant amount of money in hopes of Doge rising to $1, however, the price of the meme currency fell from ATH of $0.7346 to a new monthly low of $0.4214.

        Will Doge Price Rise in Anticipation of Tesla Payment Option?

        Dogecoin price has often surged based on Musk’s shill tweets and the anticipation of it being added as a payment option for the world’s most valuable car manufacturer could push its price to new ATHs based on previous trends. The rise of Doge from being a meme currency to become the 4th largest digital asset by market cap is evidence of Doge’s progress this bull season. However, many analysts have warned against the high volatility and infinite supply of Doge could put other cryptocurrencies under scrutiny.

        The Dogecoin price is currently trading above the $0.5258 mark having already made for most of the losses since yesterday and as US markets are up the price could fuel further. If Tesla goes on to add a Doge payment option based on Musk’s Twitter poll Dogecoin could very well shed its meme currency tag and take over BNB to become the third-largest digital asset by market cap.

        Source: CoinGape

        Goldman Sachs MD becomes Dogecoin (DOGE) millionaire, quits company

          By
          underratedcrypto
          -
          0
          Goldman Sachs MD becomes Dogecoin (DOGE) millionaire, quits company


          The latest market rally for Dogecoin (DOGE) has helped investors become crypto millionaires. The latest report in the town is that a London-based Goldman Sachs executive has become a millionaire with his Dogecoin investments.

          As per the report from eFinancialCareers, Aziz McMahon, a managing director and head of emerging market sales at Goldman Sachs in London, resigned from the company after minting millions as DOGE price touched record highs last week.

          Sources from the company have also confirmed the news with the publication. Besides, there’s also the news that McMohan could be starting his own hedge fund.

          Just like 2017, the latest crypto market is expected to have made a few millionaires on the way. The Dogecoin frenzy has been taken far with support from billionaires like Elon Musk. On Monday, May 10, Elon Musk’s space exploration company SpaceX also announced that it shall be accepting Dogecoin (DOGE) payments for its next space mission in 2022.

          The DOGE price, however, has corrected significantly since its all-time high of $0.70. In the latest crypto market correction, Dogecoin (DOGE) has tanked another 14% dropping below $0.50 to $0.47 at press time.

          Crypto Markets offering Lucrative Opportunities

          Top executives from financial companies are moving to grab the lucrative opportunities in the rapidly evolving crypto space. Luyi Zhang, a former senior quantitative analyst at Bank of America in New York has recently joined the crypto exchange Coinbase as a senior software engineer.

          Jesse Bornstein, the man behind launching Nomura’s trade finance business recently joined as the VP of institutional sales at Stakehound. This crypto firm facilitates token issuance allowing users to get access to decentralized finance (DeFi).

          Over the last weekend, John Dalby, the CFO of the world’s largest hedge fund Bridgewater Associates left the company to join Bitcoin trading and custodial services provider NYDIG. Dalby noted:

          “The growth of NYDIG has been incredible. Every day, more industries come to understand Bitcoin’s potential and more clients seek ways to safely access it. Personally, I share NYDIG’s vision for Bitcoin’s ability to propel economic empowerment for all. I eagerly look forward to doing my part to help NYDIG deliver innovative Bitcoin solutions to institutions and individuals.”

          It is clear that the tide is clearly moving away from traditional finance and to the crypto market.

          Source: CoinGape

          Crypto Exchanges OKEx and Binance list Dogecoin-Killer Shiba Inu (SHIB) after 2100% gains in three days

            By
            underratedcrypto
            -
            0
            Crypto Exchanges OKEx and Binance list Dogecoin-Killer Shiba Inu (SHIB) after 2100% gains in three days

            Amid the latest cooldown in the Dogecoin (DOGE) rally after last week’s all-time high, investors are now moving their money to its competitor coins like Shiba Inu (SHIB). Just in the last three day of Dogecoin correction, Shiba Inu (SHIB) has gained 2100% with its market cap shooting from $35 million on May 7 to a massive $13 billion as of date.

            SHIB has entered into the top-20 crypto-list with its massive price surge. Just like Dogecoin, SHIB is also a “meme coin” and an Ethereum-based ERC-20 token which was started as an experiment to create a decentralized economy. This is the first token listed and incentivized for using the decentralized exchange ShibSwap.

            Well, this has caught the attention of crypto exchanges who have been rushing to list the native cryptocurrency of the Shiba Inu network. On Monday, May 10, crypto exchange Binance announced that it will be listing the SHIB coin in the Innovation Zone with trading pairs SHIB/BUSD and SHIB/USDT. In a warning to investors, Binance noted:

            SHIB is a relatively new token that poses a higher than normal risk, and as such will likely be subject to high price volatility after the Binance listing. Please ensure that you exercise sufficient risk management, have done your own research in regards to SHIB’s fundamentals, and fully understand the project before opting to trade the token.

            OKex Joins Binance In Shiba Inu (SHIB) Listing
            World’s leading crypto and spot derivatives exchange OKEx announced listing the SHIB coin on its platform. Deposits for SHIB were started over the weekend on OKEx. Besides, the native token of the SHIBA Inu network can now be traded on the OKEx spot and perpetual swaps market. OKEx CEO Jay Hao said:

            “We are pleased to welcome Shiba Inu to the OKEx platform. I appreciate their experimental spirit, which is exactly what the blockchain and crypto space needs. As an exchange, we are delighted to be able to offer a diverse portfolio of cryptocurrencies, including memetic tokens, to allow a comprehensive investment experience for our valued customers. The Shiba Inu community has been gaining strong momentum from the weekend deposits, and we look forward to witnessing its robust development. We are happy to be the first major exchange to offer SHIB to open the crypto gateway to these enthusiasts”.

            Source: CoinGape

            TeraBlock will launch its initial DEX offering on BSCPad at May 11

              By
              underratedcrypto
              -
              0
              TeraBlock will launch its initial DEX offering on BSCPad at May 11

              TeraBlock, a machine learning powered cryptocurrency exchange, has opened the whitelist for its Initial DEX Offering (IDO) on BSC Pad, scheduled for May 11.

              To participate, prospective buyers need to stake enough BSCPAD tokens to reach their desired tier, and pass know your client (KYC) verification and register on the white list. The staking eligibility deadline is at 5 AM UTC on May 11. An allocation-based round will then be executed at 8 AM UTC, with an additional round on a first-come, first-served basis set to run at 1 PM UTC. Shortly after the final round, the TBC token will be listed on PancakeSwap and Uniswap.

              TeraBlock seeks to become the one-stop solution for all the needs of crypto newbies by combining a sleek and straightforward interface for buying and selling crypto to a suite of trade automation tools that guide users on their journey through blockchain.

              TeraBlock’s ecosystem will be powered by Binance Cloud, allowing it to access all of Binance’s liquidity and a vast selection of tokens. Binance will underpin TeraBlock’s exchange technology and security. User registration, Know-Your-Customer and Anti-Money Laundering checks are also performed through Binance in collaboration with third parties.

              At launch, TeraBlock will feature four predefined indices that let beginner users diversify and automate their cryptocurrency trading strategy. More experienced users can design their own index with custom weights and rebalancing thresholds, with TeraBlock hosting the strategy and doing all the required transactions in the background. With TeraBlock, users will also be able to purchase crypto through the TeraBlock exchange with any debit or credit card issued by a bank.

              The TBC token plays a key role for utility on the platform, enabling users to save on fees dramatically. When they hold a percentage of their portfolio in TBC, the platform will waive all extra fees beyond the standard exchange fee, including those for automated strategies and indices.

              “We’re excited to be running the IDO to distribute our tokens to as many users as possible and grow the TeraBlock community,” said Shivam Tandon, founder and CEO TeraBlock. “We think most crypto investors will find something to their liking on our platform — From newcomers who just want to diversify their risk to experienced traders who lacked the tools to create their own automated portfolios.”

              About TeraBlock

              TeraBlock aims to be the most user-friendly and comprehensive crypto exchange that provides automated and AI-powered features while offering the liquidity, token selection and cost of Binance with the ease and simplicity of Coinbase. Through its ML-powered trading algorithms and customizable strategies, TeraBlock guides users who dip their toes in cryptocurrencies. TeraBlock was founded in 2021 by Shivam Tandon, a serial crypto entrepreneur who previously launched successful trading tools.

              Source: CoinGape

              The sleeping giant “Tezos” awakens

                By
                underratedcrypto
                -
                0
                The sleeping giant

                Tezos made a splash on July 1, 2017 as one of the most successful and promising ICOs to have taken place. They raised $232 million, which made this one of the largest ICOs ever.

                However, since then they were plagued with delays and other legal issues which kept them quiet for a while. Now the sleeping giant has awoken with some momentous moves that are shaking the world of cryptos and the blockchain.

                Source: coinmarketcap.com

                POS vs POW

                It is their Proof of Stake (POS) mechanism which allowed Tezos to weather the prolonged bear market that saw other coins dropping out of the game like flies. XTZ price more than tripled during October 2019 to February 2020 and it reached an all time high. Once again in early 2020 Tezos began to draw attention and acclaim for its unique choice of build architecture.

                Now in 2021, XTZ price has climbed an astonishing 236% and it shows no signs of slowing.

                Tezos is best known for having built their model from the ground up with a POS consensus. Like Ethereum, Tezos deploys smart contracts, but it is unique in allowing users to directly control the rules of engagement through their consensus mechanism. This allows for flexibility, user governance and scalability. This places Bitcoin and Ethereum’s Proof of Work mechanisms in stark contrast. 

                Ethereum is desperately trying to roll out its ETH2.0 upgrade, which would potentially minimize the skyrocketing gas fees experienced by users and would endeavour to make it more scalable. Tezos was built with these features from the start.

                Takes the risk out of mining

                POS works in a different way to POW in that rather than miners getting rewarded with gas fees for building and approving new blocks, they are instead rewarded for the percentage of native tokens they hold. This means that the native XTZ or Tezzie token is not minted, but rather given as a reward in return for taking part in the POS mechanism. This takes a lot of the risk away from miners potentially attacking the network to steal rewards, for the fact that it makes it less advantageous for miners to attack chains.

                Tezos now has a booming marketplace for NFTs, where users with a conscience can mint NFTs that are much greener for the planet and take advantage of fees that are much more easily digested than those of Ethereum. Tezos is now very popular for decentralized finance applications too, with their promise of faster transaction times, more feasible transaction charges and the ability to scale much more easily than with Ethereum.

                Scalability guaranteed

                Scalability is one key to Tezos proposition. It has managed to make six upgrades overall as compared to Ethereum struggling for many years to upgrade their protocol, with Tezos easily completing updates frequently and in a trouble free way. The last Tezos upgrade, Florence, saw major improvements made, which came just three months after the prior upgrade. 

                So Tezos is moving fast and Ethereum will have to work faster with its launch of ETH.20 to stake its own claim. Tezos, the sleeping giant has finally awoken and they are not going quietly into the storm.

                Source: CoinGape

                Wall Street giants express concern over Bitcoin losing market grip with rising altcoin dominance

                By
                underratedcrypto
                -
                0
                Wall Street giants express concern over Bitcoin losing market grip with rising altcoin dominance

                Over the last week, the altcoin market has added over $500 billion, taking the overall crypto market cap to above $2.5 trillion. Ethereum (ETH), Binance Coin (BNB) and Dogecoin (DOGE) have been the top performers in the crypto market while Bitcoin (BTC) has been merging for a long time time.

                As altcoins continue to extend their market dominance, Wall Street investors are worried over Bitcoin’s falling market dominance. From over 70% at the beginning of 2021, the BTC dominance has now dropped to under 44%. Strategists at JPMorgan Chase & Co and DataTrek Research LLC calling it a warning sign report: Bloomberg.

                In a note to clients last Friday, JPMorgan’s chief strategist Nikolaos Panigirtzoglou noted that Bitcoin’s waning dominance echoes “Froth”. He also noted that the current rally in the altcoin space has been driven more by retail demand.

                Well, it is very much clear that Ethereum (ETH) has been continuously gaining dominance over Bitcoin (BTC) in terms of percentage returns. Earlier today, Ethereum (ETH) touched an all-time high above $4150 levels extending its year-to-date gains to a massive 480%. BTC’s year-to-date returns stand just over 100%. Check the below chart of how the ETH price has surged against Bitcoin.

                Investors getting comfortable with Altcoins

                Some of the Wall Street analysts believe that the recent top in BTC market dominance is because many investors are getting comfortable investing in altcoins. While the latter is true, the fact remains that big investors are still interested in Bitcoin.

                DataTrek’s co-founder Nicholas Colas noted that historically, Bitcoin (BTC) has bounced back pretty strongly whenever its market dominance has moved closer to 40%. He further added:

                “Even if you don’t invest in the space, this is worth tracking.” He added that with more than US$2 trillion now invested in virtual currencies, “a meaningful reset lower could also affect traditional financial assets like equities.”

                We must not undermine the recent BTC price consolidation as its weakness. CryptoQuant CEO Ki-Young Ju mentions that BTC’s estimated leverage ratio has cooled off.

                He further noted that Bitcoin’s Exchange Whale Ratio (EWR) is still below 85% hinting that we are still in the bull market.

                Source: CoinGape

                Satoshi or Bitcoin? Novogratz reignites BTC marketing debate

                  By
                  underratedcrypto
                  -
                  0
                  Satoshi or Bitcoin? Novogratz reignites BTC marketing debate

                  The discussions over increasing the marketing of satoshis (sats), or the smallest unit of bitcoin (BTC), instead of BTC itself, re-emerged, but so does the opposition to the idea.

                  “It is time to switch to Satoshis. Too many people telling me at USD 58,000 BTC too expensive,” argued Galaxy Digital CEO Mike Novogratz, asking which exchange would be first to quote in sats.

                  Numerous industry players voiced their support and opposition to this. Among these, the concept of unit bias (buyers being more enticed to buy a whole unit of a crypto than a fraction of it) is discussed as a highly powerful one.

                  Others are arguing that quoting in sats would be somehow ‘cheapening’ bitcoin, but that it could also lead to a drop in price, while some opined that bitcoin’s high price is attracting large, institutional investors.

                  Other discussions include the preference for using bits, instead of sats.

                  The general unit structure of bitcoin has BTC 1 equivalent to 1,000 millibitcoins (mBTC), 1,000,000 microbitcoins (μBTC), or 100,000,000 satoshis. So yes, objectively, it can get confusing to potential newcomers.

                  So as owning one bitcoin is increasingly further from the reach of just your average Jane and Joe, these are looking at cheaper coins, finding that ethereum (ETH) is cheaper than BTC, and it’s rallying as well, but ethereum classic (ETC) is cheaper than ETH, but dogecoin (DOGE) is cheaper than all these – and the pattern continues. (Learn more: Penny Altcoins Rally While TikTokers & Co Go on a Pumping Spree)

                  “These rallies are prompting individual investors to turn their attention to newer cryptocurrencies such as DigiByte, VeChain and SafeMoon in the hunt for cheaper alternatives that could be the next to skyrocket,” noted the Wall Street Journal.

                  The ‘satoshi’ discussion is not exactly new, and it’s been led from various angles over the years, and was fuelled further in the recent months by the bear reappearance and institutional entrance.

                  In late April this year, Coin Center Director of Communications Neeraj Agrawal asked: “has anyone tried marketing sats as the next bitcoin”.

                  And the smaller units have been tweeted about much earlier as well.

                  As reported last December, Adam Back – the CEO of the blockchain technology firm Blockstream, a leading cryptographer, and the inventor of hashcash, which is used in the Bitcoin mining process – argued that it was time to say farewell to sats.

                  “Bitcoin is too expensive, but sats are too many, sound cheap and confusing,” Back said, favoring the division of bitcoin by 1m units instead.

                  Source: cryptonews

                  Dfyn Network set to launch IDO on Polkastarter today

                  By
                  underratedcrypto
                  -
                  0
                  Dfyn Network

                  Multi-chain decentralized exchange Dfyn Network will launch an initial DEX offering (IDO) on the Polkastarter platform today.

                  Dyfn’s defi protocol, which recently closed a $2.4 million funding round that garnered investment from the likes of CMS Holdings, QCP Capital, and Signum, is preparing to raise another $305,000 via the IDO.

                  The IDO gets underway on Polkastarter at 1pm UTC, and only contributions in ether (ETH) will be accepted.

                  Approximately 700 slots are reserved for the POLS community with 300 provisioned for the Dfyn non-POLS community. Only whitelisted addresses are eligible to participate, with over 70,000 users having already applied for around 1,200 whitelisting berths.

                  Participants are encouraged to be on the website at least half an hour before the first-come, first-served sale commences. The whitelist has been split into 3 sections — Dfyn1, Dfyn2, and Dfyn3 – though all pools have the same maximum allocation of $300.

                  Dfyn started life last year, with the launch of a beta AMM exchange on layer-2 network Polygon. Later this year, the platform aims to enable seamless cross-collateralization and borrowing across blockchain networks with nodes having already been incorporated on chains such as Binance Smart Chain (BSC), Polkadot, Avalanche, and Solana.

                  About Dfyn Network

                  Dfyn Network is committed to establishing a thriving multi-chain ecosystem that includes a trustless decentralized exchange (DEX) coupled with an ultra-fast gasless automated market maker (AMM) which is optimized for the multi-blockchain universe. By building a thriving multi-chain ecosystem by plugging into Router Protocol’s liquidity supermesh, its mission is to onboard the next wave of crypto users into the defi world.

                  Source: CoinGape

                  1...282930...35Page 29 of 35
                  MicroStrategy’s Bitcoin holdings close to $3 billion after buying $177m worth of bitcoins
                  Uncategorized

                  MicroStrategy’s Bitcoin holdings close to $3 billion after buying $177m worth...

                  underratedcrypto - 0
                  MicroStrategy is one of the largest corporate holders of Bitcoin, and the company has now added more bitcoins to its balance sheet. MicroStrategy purchases $177...
                  Bitcoin bulls aim for $50K ahead of Friday’s $675M BTC options expiry

                  Bitcoin bulls aim for $50K ahead of Friday’s $675M BTC options...

                  Binance ends South Korean Won trading pairs and payment options

                  Binance ends South Korean Won trading pairs and payment options

                  Kryptoin files for an Ether ETF with the US SEC

                  Kryptoin files for an Ether ETF with the US SEC

                  This is why SushiSwap did not scale on Optimism

                  2022 | © Underratedcrypto