Kategorie: Crypto Markets

Dogecoin (DOGE) has shot up by more than 99% in the past seven days, a move fuelled by Elon Musk’s acquisition of Twitter.

The first time Musk made the offer to purchase Twitter, Dogecoin took off to the moon. However, the bullish momentum later died out after Elon Musk started showing signs of backtracking on his bid to acquire the social media giant on claims of fake accounts.

Now that Musk has completed the acquisition at $54.20 a share, investors believe Dogecoin could be on the verge of reclaiming its 2021 highs.

To assist investors who want to buy Dogecoin, Coinjournal has created a brief guide on the best ways to buy a meme coin.

To find out more, please continue reading.

Best places to buy Dogecoin (DOGE) from

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy DOGE with eToro today Disclaimer

What is Dogecoin (DOGE)?

Dogecoin (DOGE) is a meme coin that is based on the popular “doge” Internet meme and features a Shiba Inu on its logo. It was the first dog-themed cryptocurrency to be launched after which the likes of Shiba Inu (SHIB) were launched.

Dogecoin was actually created from a hard fork of Litecoin in December 2013 by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia.

Dogecoin’s founders foresaw it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience since it was based on a dog meme. Tesla and SpaceX CEO Elon Musk has fallen for the meme coin and he regularly tweets about it and he has also included it as a payment option for Tesla merchandise.

Should I buy $DOGE today?

If you are looking to invest in a cryptocurrency that is on a bullish trajectory then Dogecoin could be a good choice.

Nevertheless, you should be aware of the fact that the cryptocurrency market is extremely volatile especially now that there are a lot of external factors affecting the crypto market.

Dogecoin price prediction

With Elon Musk finally acquiring Twitter, all eyes are on whether the multi-billionaire will propose the use of DOGE on Twitter.

Although it might take some time for the coin to go back to its 2021 highs, investors believe at the current momentum it could surge above $0.2 by mid-November. However, it could end up even going higher if Elon comments anything to do with the coin.

$DOGE social media trends

Dogecoin TO $69!!!!!!!!!

— Matt Wallace (@MattWallace888) October 30, 2022

The post Best ways to buy Dogecoin: it’s on fire after Elon Musk bought Twitter appeared first on CoinJournal.

• Binance says ‘Winny the Web3 Witch’ will help ‘take the creepy’ out of crypto and Web3.
• Binance has unveiled a new educational series it says should do the trick when it comes to the latest efforts towards proving crypto isn’t as scary as it is painted to be. 

It’s Hallowen season and the creepers are set to go loose, meaning more scary stories are ripe for the telling. 

But Binance says its ‘Winny the Web3 Witch’ will sniff out all the crypto creeps. In short, the leading crypto exchange is saying that this Halloween – crypto or Web3 won’t be one of the things to be frightened of.

Spooky season is soon approaching 👻

For Halloween, #Binance is launching the #CryptoCreepers educational series, a series that debunks some of the most common fears in Web3.

Stay tuned. pic.twitter.com/iBjc2sStAe

— Binance (@binance) October 19, 2022

Debunking the world of Web3 myths

Crypto is approaching its teens after Bitcoin’s launch in 2009, but even then, many people still find it a tough space to enter. 

According to Binance this shouldn’t be and demystifying the spooky aspects via the ‘crypto creepers’ series will make crypto less creepier than it has been made to look.

‘Winny the Web3 Witch’,  Binance’s educational series designed to debunk FUD (fear, uncertainty, doubt) and other common myths about crypto, is set to go live on Twitter (the trailer is here).

The series will unpack most of the uncertainty and offer access to independent research and other facts to dispel the fear and the doubt, including hocus pocus such as crypto use is mostly by criminals.

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Binance was in the news this week for numerous activities as the crypto exchange continues to grow despite the bear market.

Binance to launch its oracle network soon

The world’s leading cryptocurrency exchange announced earlier this week that it would launch the Binance Oracle network this month. 

The crypto exchange said Binance Oracle will support multiple blockchain partners within the BNB Chain ecosystem, becoming yet another stepping stone on Binance’s path to the role of the leading infrastructure services provider for the digital asset sector.

Binance was also confirmed as an investor in Elon Musk’s Twitter acquisition. Elon Musk completed the Twitter acquisition a few hours ago. Earlier this week, Binance CEO, Changpeng Zhao said Binance will still back Elon Musk’s acquisition of Twitter. 

The crypto exchange had previously committed $500 million to Elon Musk’s Twitter deal, and reports now suggest that Binance went through with the investment. 

In yet another positive news for Binance, CZ revealed earlier this week that the National Bank of Kazakhstan (NBK) had agreed to test the country’s central bank digital currency (CBDC) on the BNB Chain, Binance’s blockchain network. 

Google Cloud to launch a blockchain node service

Google Cloud announced earlier this week that it would launch a blockchain node engine. According to the tech giant, the engine will streamline the process of setting up a brand new node and also the complications of hosting it on your own hardware.

Google added that it would start with the Ethereum blockchain. Google Cloud has been assembling a web3 team and is slowly entering the blockchain ecosystem.

Revolut to add a crypto payment feature soon

Fintech firm Revolut revealed earlier this week that it would be adding cryptocurrency payment features t its platform soon.

The neobank informed its customers would get 1% back “for a limited time” if they with their Revolut cards using crypto. This latest development comes roughly a month after Revolut introduced 29 new tokens to its crypto offerings, including SOL, AVAX and Shiba Inu.

FTX is working on creating its stablecoin

Binance already has its BUSD stablecoin, and now FTX cryptocurrency exchange is planning on creating its stablecoin. FTX’s CEO Sam Bankman-Fried revealed earlier this week that there are discussions regarding its stablecoin. He revealed that the value of FTX’s stablecoin would be tied to that of another asset.

Hong Kong plans to legalise retail crypto trading

A Bloomberg report earlier this week revealed that Hong Kong’s government plans to allow retail investors to trade cryptocurrencies. However, retail investors would trade cryptos on locally licenced cryptocurrency exchanges. 

The move is part of Hong Kong’s plan to position the city as a center for virtual asset service providers. Details of the new plan are expected to be revealed next week at an annual fintech conference in the city.

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The crypto market has seen some recovery today with the prices of the majority of cryptocurrencies registering significant price surges. Bitcoin (BTC) price had, for example, surged by more than 6% to trade above $20,600 at press time. Ethereum (ETH) price on the other hand had gained 14% over the last 24 hours to trade above $1,500.

In general, the global crypto market cap had increased by about 7.29% over the last 24 hours to about $996.83B.

Over $1.1 billion worth of liquidations

The sudden surge in crypto prices has resulted in massive liquidations mostly from traders who had shorted the bear market.

In total, contracts worth about $1.1 billion according to Coinalyze have been liquidated over the past 24 hours. Perpetual contracts accounted for a majority of the total liquidations with about $1 billion worth of liquidations. Futures contracts only saw liquidations worth about $6.8 million.

In terms of the type of trades, the bulk of these liquidations were from short positions which saw liquidations worth over $908.1 million in the last 24 hours with perpetual short positions seeing liquidations worth about $901.6 million.

Long positions from traders who mistimed the bull rally also saw their positions liquidated due to the return of volatility. In total, according to Coinalyze, about $142.1 million worth of long positions have been liquidated over the past 24 hours.

FTX sees the most liquidations

Crypto exchange FTX registered over $745 million in short liquidations and over $115 million in long liquidations. Binance follows in the second position with over $56 million in short liquidations and over $14 million in long liquidations.

OKX exchange has seen $39.58 million worth of short liquidations and $4.40 million worth of long liquidations. Bybit comes at position four with $31.30 million worth of short liquidations and $4.46 million worth of long liquidations.

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Seba Bank has launched a regulated Non-fungible tokens (NFTs) platform that will enable retail and institutional investors to store their Ethereum-based NFT collections like CryptoPunks and Bored Apes. The decline in the NFT market doesn’t seem to be much of a problem for the Swiss crypto-focused bank.

The bank however maintained that it has not integrated any NFT marketplace yet and that it will follow due diligence upon clients’ request before allowing custody for any NFT collection. It also clarified that the custody service is not restricted only to top NFT collections.

Seba Bank NFT custody platform features

The NFT custody platform will provide customers with secure storage of their NFTs without managing their private keys. Clients can integrate the custody platform into their bank accounts to include their NFTs in the total wealth portfolio and manage them just like any other of their assets.

The custody platform makes Seba Bank the first regulated bank to offer NFT custody and the bank sees a bright future for NFTs. Seba Bank is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and has made significant steps into cryptocurrency.

A representative of the bank was quoted by a popular media outlet saying:

“We believe that in the coming years, digital assets, including NFTs, will gain adoption and will be increasingly accepted even by traditional finance operators.”

Seba’s NFT custody launch, however, comes amid a tough time for the NFT market which has seen its trading volume decline by as much as 98% since the beginning of the year and the weekly NFT trading volume decline by about 30%.

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