Author: Sollcrypto
Based on current on-chain metrics, Dogecoin (DOGE) continues to maintain its upward momentum. The leading meme coin is currently trading at $0.07264, marking a 2.71% increase in the past 24 hours. Over the course of the past week since the beginning of the month, Dogecoin has seen a notable surge of 4.46%. This week’s upswing may potentially set the stage for a historical record for Dogecoin. Historical data from CryptoRank reveals that Dogecoin’s growth since 2014 has followed a distinctive pattern, with November outcomes being particularly noteworthy. One November recorded a positive gain, flanked by two subsequent losses. In November…
Opening statement In the past, real estate ownership was primarily driven by its utility value, as it provided a place to live or a means for production. However, in today’s world, it has evolved into the foremost asset for preserving wealth, a role once held by traditional forms of money. This shift is a consequence of prolonged monetary inflation eroding people’s purchasing power, a trend that can be traced back to the “Nixon shock” on August 15, 1971, when U.S. President Richard Nixon announced the end of the U.S. dollar’s convertibility into gold. Subsequently, central banks worldwide adopted fiat-based monetary…
According to the most recent price analysis from Coinidol.com, Dogecoin (DOGE) surged to a peak of $0.075 but has been unable to reclaim the previous high it achieved on October 26. Long-term Dogecoin price prediction: optimistic. Dogecoin (DOGE) has recently entered a period of sideways movement, slipping to $0.067. Notably, on October 26, a long candle wick suggests a substantial increase in selling pressure. As of the current moment, DOGE/USD is trading at $0.069. Should the buyers successfully surmount the resistance levels at $0.070 and $0.075, the cryptocurrency is poised to reach its target price of $0.08. However, Dogecoin remains…
A recent research investigation conducted by the United Nations has spotlighted apprehensions regarding the potential environmental repercussions of Bitcoin (BTC). As outlined in the findings released by the United Nations University and Earth’s Future, despite being the most widely recognized cryptocurrency, Bitcoin is associated with ‘troubling consequences for climate, water, and land,’ primarily originating from its mining operations. Analysis of Bitcoin’s energy consumption The study delved into the operations of 76 Bitcoin mining nations over the period spanning 2020 to 2021. In this interval, the global Bitcoin mining network devoured a staggering 173.42 Terawatt hours of electricity, a level that…
“Shytoshi Kusama, the prominent figure at the helm of the Shiba Inu cryptocurrency project, has issued a plea for unified collaboration among SHIB influencers and content creators. Acknowledging the decentralized nature of the platform, Kusama’s call to action seeks to streamline the promotional initiatives of diverse independent operators spanning multiple media platforms. Kusama emphasized the significance of coordination and the exchange of contact details to enhance community unity and magnify the project’s reach and impact.” Bringing together the Shib army. Kusama’s directive to the “Shib Army” is straightforward: Unite and optimize the online representation of the cryptocurrency. This endeavor is…
Ethereum (ETH), the cryptocurrency ranking as the second largest by market capitalization, has recently witnessed a notable increase in the movement of assets out of exchanges. As reported by IntoTheBlock, a substantial sum of $210 million in ETH has departed from centralized exchanges (CEXs) within the week. This amount marks the most substantial seven-day net outflow since August. Historically, such exchange outflows frequently indicate that investors are shifting their assets from centralized exchanges to private wallets. A prevailing explanation behind the increase in exchange outflows is the theory that long-term investors are withdrawing their assets to hold them for extended…
Binance has notably expanded its futures listings, a move that has attracted attention. What’s interesting is that Binance has initiated futures listings for alternative cryptocurrencies that have been long-traded in the spot market, indicating a shift in their listing policy. This surge in listings is believed to be driven by Binance’s intention to compete for market share in futures trading, particularly against platforms like Bybit, known for offering a broad range of altcoins. Bybit gained popularity among users with limited spot market activity and a penchant for higher-risk trading, thanks to its inclusion of small-scale altcoins in futures trading. It…
This article is a part of Blockworks’ Web3 Watch, a weekly recap of the notable and not-so-notable events in the cultural aspect of the crypto world. NETGEAR, the wireless provider, has joined forces with SuperRare to introduce its Meural Opus, an $800 digital picture frame that can connect to digital wallets and showcase NFTs. NETGEAR acquired Meural and its intelligent frame technology in 2018 and made a significant move into the NFT space in 2022 by collaborating with Metamask and becoming part of SuperRare’s DAO. This launch combines two contrasting trends: the smart frame market, which Persistence Market Research predicts…
Ethereum, the established blockchain powerhouse and a formidable contender to the recently emerged Solana, has witnessed a remarkable 30% surge in its transaction fees. This sudden upswing has sparked curiosity, leading to questions about whether the Ethereum network is undergoing a renaissance. Beneath this fee surge lies a whirlwind of network and development activities. The Ethereum ecosystem, renowned for its flexibility and adaptability, currently boasts a vibrant community of developers and innovators. The 30% increase in transaction fees is not a mere happenstance; rather, it mirrors the escalating activity and progress within the Ethereum platform. Interestingly, the Ethereum network’s current…
Ryan Grace, the head of wallet developer tastycrypto, emphasized that Bitcoin’s volatile nature makes a 50% loss just as likely as a 200% gain. He suggested that, for Bitcoin believers, a prudent strategy would be to retain a nominal amount of the cryptocurrency indefinitely. During a conversation with Coin Edition regarding Bitcoin’s recent volatility, Grace pointed out that on-chain analytics data indicated both whales and retail investors have been accumulating Bitcoin, a pattern often associated with upward price movement. Grace, who co-hosts Crypto Concepts on tastylive, added that Bitcoin’s ascent beyond $35,000, supported by a positive Moving Average Convergence Divergence…