Schlagwort: crypto business

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Dogecoin rallies after Musk’s Twitter buy: where to buy Dogecoin

After Twitter accepted Elon Musk’s bid, the popular meme coin’s price soared. It was up 30% and counting at the time of writing. The hectobillionaire will take the social media giant private.

Dogecoin is skyrocketing because its potential as a means of payment has grown immensely. 

Look no further than this short article for all the details about Dogecoin: what it is, is it worth investing in, and the best places to buy Dogecoin now.

Top places to buy Dogecoin now

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What is Dogecoin?

Dogecoin features a Shiba Inu dog on its logo and is based on a canine-themed Internet meme. It is an open-source project and a Litecoin fork. 

Its main utility has been as a tipping system on Reddit and Twitter to reward users who share or create quality content. Now that Musk is to helm Twitter, this utility is expected to become more prominent.  

At the moment, people can receive tips in Dogecoin from a faucet or by taking part in a community that uses it. 

Dogecoin differs from Bitcoin in a number of ways, including the block time and mining. Dogecoin has an uncapped supply and a block time of one minute. There is no limit to the number of Dogecoin that you can mine.

Should I buy Dogecoin today?

Nothing can substitute doing your own research. Any investment decision you make should be based on your market expertise, your attitude to risk, and the features and spread of your portfolio. Also, consider how you would feel about losing money. 

Dogecoin price prediction

Digital Coin and GOV Capital both expect Dogecoin to reach $0.20 in a year. CryptoNewZ is even more bullish, predicting a maximum price of 21 cents per token as early as this year.

Dogecoin on social media

The post Dogecoin rallies after Musk’s Twitter buy: where to buy Dogecoin appeared first on Coin Journal.

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Price of Near token bounces back after Near Protocol stablecoin goes live

NEAR, the native token, of the Near Protocol, has surged today after the Near Protocol blockchain launched its widely anticipated stablecoin, the USN.

At the time of writing, the NEAR token had bounced back to $14.96 up 8.38% over the past 24 hours. The token is however still down by about 12% over the past week following a broader plunge in the crypto market over the past week.

Near Protocol’s USN stablecoin

The newly launched USN stablecoin is an algorithmic stablecoin. It uses a mix of tokenomics to maintain a ratio of 1:1 against the US dollar. It was launched by the NEAR Protocol-based decentralized organization called Decentral Bank.

People can burn NEAR tokens to mint the USN stablecoin and they can also burn the USN stablecoin to get NEAR tokens.

Decentral has said that early lenders would receive a yield of up to 20%, something that rivals that of the popular Terra’s UST stablecoin.

The reserves of the USN stablecoin will be maintained by the Decentral Bank DAO and the DAO shall hold monthly votes to distribute rewards amounting to $10 million for trading the USN.

Crowded stablecoin market

The USN will face tough competition within the stablecoin with Terra’s UST stablecoin being its main competitor. Terra’s UST already enjoys the backing of $2.5 billion in US dollars that are already in reserves.

There is also another anticipated stablecoin, the USDD from the Tron blockchain, that promises a 30% APY.

The majority of investors seem to use a wait-and-see approach to the USN stablecoin with the expectation that there will be more DeFi options in Near Protocol that shall give the USN stablecoin more utility.

The post Price of Near token bounces back after Near Protocol stablecoin goes live appeared first on Coin Journal.

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Highlights April 26: Cryptos in the green, Dogecoin rallies 26%

The crypto market notably reversed yesterday’s deeply bearish trend with most cryptos in the green at the time of writing. 

Top cryptos

Bitcoin added more than 3% to its value today, currently trading for $40,500. Ethereum is up by over 5%. Other gainers include Terra and NEAR Protocol, whose tokens LUNA and NEAR are each up 7%.

The biggest top 20 winner by far is Dogecoin. It rallied 26% after Elon Musk’s offer to buy Twitter was accepted. The eccentric billionaire is taking the social media giant private. 

Dogecoin’s role as a payment method in it is expected to become far more significant. Shiba Inu also registered gains, albeit more modest ones of around 5%. 

Top movers

Top 100 cryptos are in the green with very few exceptions. Most added 3-6% to their value in the last 24 hours. 

More notable gainers include THORChain, Kadena and KNC with 9% each, The Graph with 14%, Oasis with 15%, and Synthetix at #100 with 11%. 

Why the surge of Oasis? 

To celebrate Oasis’ Mainnet upgrade Fountain Protocol, a lending platform on the blockchain, launched an airdrop with a total prize pool of 40,000 $ROSE and 400,000 $FTP. This event, in which these funds are being given out to participants, ends today. 

The reason for Synthetix’ surge could be its recently announced launch of liquidity incentives on Layer-2 Optimism. The ecosystem has allocated 12,000 SNX per week to incentivize voting for the sUSD Curve pool.

NEM and Amp are among the few losers, each down 2%. PanCake Swap shed 4% of its value in the last 24 h. All stablecoins are down, possibly signifying a retreat in USD value. 

Trending

Predictably, the biggest gainer is ELON BUYS TWITTER, which we introduced in yesterday’s recap. The newly created token on Binance Smart Chain (created by and for meme artists) gained a whopping 3,063% in the last 24 h. 

The post Highlights April 26: Cryptos in the green, Dogecoin rallies 26% appeared first on Coin Journal.

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Here is why DOGE is up by more than 24% in the last 24 hours

The broader cryptocurrency market has been performing well so far this week, but Dogecoin is currently leading the gains.

The cryptocurrency market is erasing the losses recorded over the weekend. The total market cap has increased by more than 3.5% over the past 24 hours and currently stands above $1.8 billion.

Bitcoin is trading around the $40k psychological level again, while Ether also rallied by 5% in the last 24 hours to reach the $3,00 mark.

However, DOGE, the native token of the Dogecoin ecosystem, is the best performer amongst the top 20 cryptocurrencies by market cap over the past few hours. DOGE is up by more than 20% over the past 24 hours.

The rally has DOGE overtake Avalanche and now occupies the tenth place in the market in terms of market cap.

DOGE’s ongoing rally is fueled by the news that Twitter’s board has accepted Elon Musk’s offer to acquire the company.

Musk is a huge fan of Dogecoin and investors are optimistic he will rollout DOGE payment options on the social media platform.

Key levels to watch

The DOGE/USD 4-hour chart is currently bullish as Dogecoin has outperformed the other major cryptocurrencies in the last 24 hours. The technical indicators show that DOGE has overcome its latest bearish trend.

The MACD line is above the neutral zone, indicating a bullish momentum for Dogecoin. The 14-day relative strength index of 67 indicates that Dogecoin could soon enter the overbought region if the momentum is sustained.

At press time, DOGE is trading at $0.158 per coin. If the bulls remain in charge, DOGE could surpass the first major resistance level at $0.165 before the end of the day.

However, with the support of the broader cryptocurrency market, DOGE could trade above the $0.175 level for the first time in months. 

The post Here is why DOGE is up by more than 24% in the last 24 hours appeared first on Coin Journal.

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Dogecoin pumps as Twitter accepts Elon Musk’s $44 billion bid

DOGE price jumped to highs near $0.17, while Twitter shares also gained to close 5.6% higher at $51.70.

Dogecoin (DOGE) surged by more than 25% on Monday 25 April after its biggest fan Tesla CEO Elon Musk, acquired Twitter (TWTR).

DOGE, which has pumped on previous Musk-related news, soared to intraday highs near $0.17. The top meme coin’s upsurge came after a day-long tease, with investor sentiment around the coin peaking after Musk reached a deal with the Twitter board over the purchase.

While the cryptocurrency remains a long way off its all-time high of $0.73 reached in May 2021, the reaction to today’s news could only be among many to come.  

At the time of writing, DOGE/USD was trading around $0.16, about 15% up in the past 24 hours after paring some of the intraday gains.

Twitter accepts Elon Musk’s $44 billion buyout

On Monday, Twitter announced in a press release that its board had “entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk.”

According to the announcement, the acquisition translates to $54.20 per share for a value of $44 billion. At this price, Twitter shareholders are getting a 38% premium on the company stock’s closing price on 1 April 2022, a day before the Tesla CEO disclosed a 9% stake in Twitter.

Musk says he will ensure Twitter becomes the ‘bedrock’ of free speech, better than ever and free of spam bots. He will enhance it with new features as well as seek to authenticate all humans.

“Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” he said. 

Musk also hopes that him owning the social media company doesn’t push some users off the platform.

Twitter’s share price jumped from under $49.00 on Monday, soaring to highs of $52.29. Despite paring some of the gains, the stock still closed more than 5.6% up at $51.70.

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