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Market highlights January 17: Cardano stands tall, US stocks continue poor start to 2022

The crypto market is bearish today as a whole.  Jamaica plans to roll out its digital currency in the next few months and its Prime Minister expects that within five years 70% of the population will use it.

Retail giant Walmart is planning to launch its own cryptocurrency and has recently filed several trademark applications outlining its plans.

US stocks remain underwater following a difficult start to 2022, with the SPX500 losing 0.3% and the DJ30 sliding 0.88% last week.

Real estate was the worst-performing US sector last week, with American Tower Corporation and Crown Castle International both falling more than 5%.

Top cryptos

Cardano was the only top 10 crypto in the green over the past 24 hours, gaining more than 10%, and up 30% over the past week.

On the losing side, Polkadot fell more than 4.5% and Solana was down around 3%. Bitcoin was trading just under $43,000 at time of writing.

Top movers

Monero emerged as a clear winner today with gains of just over 6%. THORChain is up almost 7%. Oasis Network continues its impressive rise. Its native token ROSE added 7% to its value in the last 24 hours.  

OKB, a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKEx, is also up 7% today. The same goes for Kava, a cross-chain DeFi lending platform that allows users to borrow USDX stablecoins and deposit a variety of cryptocurrencies to begin earning a yield.

At the other end is Loopring with a loss of 6% and Kadena, which is down 8%. Ravencoin, which was gaining alongside Loopring and Kadena last week, is also reversing wins with a decline of 6% in the last 24 hours.

Trending

The live Request price today is $0.355 with a 24-hour trading volume of $86.6 million. The token has gained 24% in the last 24 hours. 

LooksRare is a community-focused NFT marketplace that actively rewards traders and creators for participating. It is also trending with gains of 16% today.

The biggest winner is the token of Avaxtars, an idle browser game running on the Avalanche Blockchain with the Play to Earn model. Avaxtars Token is up 236% in the last 24 hours, partially on news of a new partnership with Kaira Network. 

The post Market highlights January 17: Cardano stands tall, US stocks continue poor start to 2022 appeared first on Coin Journal.

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Not another dog meme coin: see where to buy Baby Doge Coin now

Baby Doge Coin is widely regarded as the offspring of Dogecoin, the first dog meme coin. It has learned a few tricks and lessons from his meme father. Baby Doge is up 12% in the last 24 hours, but does it have staying power? 

This short guide has everything you need to know about this, including the top places to buy Baby Doge Coin today.    

Top places to buy Baby Doge Coin now

Plus500

Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)

Buy BABYDOGE with Plus500 today

Pepperstone

CFD broker Pepperstone was founded in Melbourne, Australia in 2010 by a team of experienced traders with a shared commitment to improving the world of online trading. Pepperstone has grown rapidly in a relatively short time and is now one of the largest MetaTrader brokers in the world. Over 300,000 traders around the world already trust the Pepperstone brand. A total of 1000+ tradable instruments are offered. In addition to 60 currency pairs, the broker also offers 14 cryptocurrencies, including Bitcoin, Ethereum, Cardano, Dogecoin, Ripple etc. for trading as CFDs.

Buy BABYDOGE with Pepperstone today

What is Baby Doge Coin?

A new crypto birthed by fans of the doge meme online community, Baby Doge seeks to impress his father by showing new and improved transaction speeds. BabyDoge was launched in June 2021 with an ambitious roadmap that includes efforts for pet charity, NFT creation, GameFi and more.

It is a deflationary token designed to become scarcer over time. Holders of Baby Doge will earn more coins that are automatically sent to their wallets by simply holding. 

The amount of baby doge coins in holders’ wallets increases all the time because they automatically receive a 5% fee from every transaction occurring on the Baby Doge ecosystem.

Should I buy Baby Doge Coin today?

Read at least several price predictions before you commit to an investment in this crypto meme coin. You make any investment at your own risk.   

Baby Doge Coin price prediction

According to Wallet Investor, the price of Baby Doge Coin will increase long-term, but only slightly, making it a rather poor investment. Their price prognosis for 2027 is $0.000000011. With a 5-year investment, the revenue is expected to be around +83.33%. 

A $100 investment in BabyDoge will be worth just $183.33 in 2027.  

Baby Doge Coin on social media

 

The post Not another dog meme coin: see where to buy Baby Doge Coin now appeared first on Coin Journal.

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Bitcoin is ‘a tool for social justice’: ex-Fed official

  • Communities can now create wealth and move towards financial freedom by investing in Bitcoin, the former audit manager at the Fed said.

  • She noted that crypto allows people in Black and Latino communities to access wealth that is otherwise inaccessible via the traditional financial system.

Bitcoin has been singled out as a tool for creating generational wealth and imparting financial freedom to all, according to Charlene Fadirepo, a former manager at the Federal Reserve Board of Governors.

Fadirepo is also the founder of the fintech platform Guidefi, whose main goal is to allow women and other professionals within the community access financial and investment advice.

In an interview with Yahoo Finance this week, Fadirepo said the flagship cryptocurrency was “absolutely a tool for social justice.”

The former auditor at the US central bank believes that Bitcoin has given Black Americans and Latino Americans, particularly, access to financial tools largely inaccessible via legacy banks.

Last week, a report by MarketWatch revealed that there’s a growing gap along racial lines when it comes to access to credit in the US. According to the report, people of color (blacks) fail to secure a mortgage 84% more compared to white applicants. 

“[Bitcoin] allows communities to build wealth in communities that have been left out of the discriminatory banking system,” she told Finance Yahoo.

She also believes Bitcoin is set for further growth as more institutional money flows into the crypto industry. According to her, 2022 and beyond will continue to see more investors look at Bitcoin as an asset class.

Once that explodes and more institutions and high-net-worth individuals add BTC to their balance sheets, Bitcoin’s “big picture” will brighten even more.

She also talked about Bitcoin’s price over the past two years, comparing it with that of gold. On a 10-year basis, the benchmark cryptocurrency posted annualised returns of 200%, with 2020-2021 seeing an uptick of about 400%.

In comparison, gold’s return over the pandemic period is around 15% while in stocks, the S&P returned roughly 42%.

Individuals can invest in Bitcoin by buying the cryptocurrency and holding it for future returns or trading it on brokerages and exchanges. Some also reap huge benefits through Bitcoin mining.

Fadirepo also weighed in on the issue of crypto regulation, noting that regulatory clarity will help build trust, enhance consumer protection, and ultimately, attract more retail and institutional investors.

Apart from Bitcoin, other sectors of the crypto ecosystem providing a route to financial freedom are decentralised finance (DeFi) and non-fungible tokens (NFTs). In 2021, the NFTs industry saw sales of over $44 billion, according to a Chainalysis report.

The post Bitcoin is ‘a tool for social justice’: ex-Fed official appeared first on Coin Journal.