Schlagwort: crypto business

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DOGS launch impacts crypto exchanges and Telegram Wallet

  • DOGS launched on exchanges on Aug. 26, with on-chain claims open to millions of Telegram and TON users.
  • Services for crypto exchanges such as Binance and Bybit slowed.

Telegram Wallet announced on Monday that the launch of TON-based meme coin Dogs (DOGS) had many crypto exchanges experiencing disruption to their services.

The announcement followed similar updates from Binance and Bybit, top tier exchanges that listed the meme token for trading on Aug. 26.

Telegram Wallet reports disruption amid DOGS launch

DOGS token’s on-chain claims and trading debut saw the Telegram Wallet’s functionality slowed as millions of holders began claiming tokens.

“The $DOGS release has created quite a buzz! Several crypto exchanges, as well as Wallet (albeit partially), are running less smoothly than usual. Our exchange feature is temporarily unavailable, but don’t worry — we’re working hard to resolve this and get everything back to normal soon,” Wallet wrote.

Bybit also provided an update noting resumption of normal service after a brief disruption.

Earlier, Binance listed DOGS for trading after adding it to the Launchpool as the 57th project. The exchange added trading pairs for USDT, BNB, FDUSD and TRY.

Binance later provided an update noting that its upgrade of the TON network was taking longer than anticipated “due to unforeseen issues.”

Delays saw Binance suspend deposit and withdrawal for TON – the Open Network token that plummeted after Telegram CEO Pavel Durov’s arrest in France.

DOGS traded around $0.001182, roughly 32% down on the day after debuting at $0.0018.

Meanwhile, TON price was around $5.57, nearly 3% down in the past 24 hours and 18% in the red over the past week

The post DOGS launch impacts crypto exchanges and Telegram Wallet appeared first on CoinJournal.

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TON price slips after Telegram CEO arrest: traders focus on Bitcoin Dogs

The Toncoin price crashed hard for the second consecutive day after authorities arrested Pavel Durov, the founder, CEO, and majority owner of Telegram. He was arrested in France and will likely be held for a while.

Telegram founder arrested

Pavel, who was recently interviewed by Tucker Carlson, will likely be charged on multiple offences like fraud, money laundering, and complicity. He may also be charged with evading Russian sanctions since Telegram does a lot of business in the country. 

It is still too early to determine the outcome of the lawsuit and what to expect. However, in an X post, the TON Foundation maintained its support of Pavel. Elon Musk also chimed in, sending an X post with the hash tag #FreePavel. 

Tucker Carlson also expressed his support for Pavel. In a long X post, he noted that Pavel left Russia when the government tried to censor Telegram. He also added that the arrest happened in a Western country and a NATO member.

News of his arrest pushed Toncoin significantly lower, reaching a low of $5.37, its lowest point since August 6 of this year. It has now dropped by over 35% from its highest point this year. 

As it dropped, the token also moved below the 50-day and 200-day Exponential Moving Averages (EMA), meaning that bears are in control.

Focus turns to Bitcoin Dogs

Now, with the TON token falling, analysts and traders are focusing on the Bitcoin Dogs price, which is starting to gain momentum among crypto traders.

The price has performed as most analysts were expecting. In most periods, cryptocurrencies drop sharply after starting to trade as many of the presale buyers start selling. This is the case for Bitcoin Dogs, which raised over $13.5 million in its token sale.

The token has numerous potential catalysts that will push its price higher in the coming weeks. First, it has become significantly cheap as it was trading at $0.02456, down from a high of $0.12 this week. This makes it more attractive to contrarian investors who believe that it will bounce back. 

Second, Bitcoin Dogs will likely benefit when interest rates start falling in September. Jerome Powell, the head of the Fed, has confirmed that rate cuts are coming soon. If this happens, analysts expect that the Fed will deliver three cuts this year and continue the trend in 2025.

Fed cuts are good for risky assets like crypto as we saw in 2020 when the bak was slashing rates because of the Covid-19 pandemic. At the time, many cryptocurrencies like Dogecoin and Shiba Inu went mainstream and Bitcoin reached its all-time high of $69,000. 

Third, Bitcoin Dogs developers have a lot in store, including more exchange listings and the growth of its ecosystem through new product launches. For example, they plan to more to key areas like NFTs and staking. 

Historically, we have seen many meme coins crash and then bounce back. For example, Pepe crashed hard in 2023 and has now bounced back by over 1,600% from its lowest point on record. Learn more about Bitcoin Dogs here.

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Shiba Inu unveils plans for a Decentralized Autonomous Organization

  • Shiba Inu (SHIB) is launching a DAO to give holders a voice in governance.
  • The DAO will feature two councils: Charity and Culture & Heritage.
  • SHIB’s price is down 82.4% from its 2021 peak, despite growing real-world use.

Shiba Inu (SHIB), the leading meme coin and the 13th-largest cryptocurrency by market capitalization, is preparing to launch its own Decentralized Autonomous Organization (DAO).

Announced by the project’s marketing head “Lucie” on August 25 in a comprehensive post on X, this move marks a pivotal shift in the meme coin’s governance structure, empowering its community with a more significant role in shaping its future.

From a community-driven experiment to a major player in crypto

Shiba Inu, which began as a community-driven meme coin experiment in 2020, has evolved from a modest digital asset into a major player in the cryptocurrency landscape. Created by the enigmatic Ryoshi, Shiba Inu started with no clear purpose other than to test the possibilities of a token driven entirely by its community.

After Ryoshi relinquished control by burning the keys to the token’s supply, the project fell into the hands of volunteer Shytoshi, under whose leadership Shiba Inu has garnered global recognition and substantial market presence.

Introducing a governance model for SHIB holders

The forthcoming DAO will introduce a new governance model where SHIB holders will have a voice in the project’s future direction. This model aims to democratize decision-making within the Shiba Inu ecosystem, giving every holder, regardless of their stake size, a say in key initiatives.

The DAO will be guided by two primary councils: the Charity Council and the Culture & Heritage Council. These councils will oversee community-driven efforts such as charitable outreach and preserving the unique culture of the Shiba Inu community.

In addition to SHIB, other tokens in the Shiba Inu ecosystem, including Bone ShibaSwap (BONE) and Doge Killer (LEASH), will play roles in DAO governance.

BONE holders will focus on education and innovation, while LEASH holders will address inclusivity and transparency within the project.

Shiba Inu (SHIB) price performance

Despite Shiba Inu’s significant achievements, including its integration into everyday transactions through various merchant partnerships, the price of SHIB remains down 82.4% from its all-time high of $0.00008616 recorded in October 2021.

The meme coin’s price has also been affected by recent events, including a major hack of the Indian exchange WazirX, which resulted in substantial losses for SHIB holders.

At press time, SHIB was trading at $0.000015 up 13.8% over the last week as it tries to recover from the recent drop.

As Shiba Inu continues to adapt and expand, its move toward decentralized governance represents a major milestone in its journey from a community experiment to a leading cryptocurrency. The introduction of the DAO is set to enhance the token’s governance, utility, and impact, reaffirming Shiba Inu’s commitment to leveraging the power of decentralized initiatives.

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TON losses 18% over the weekend. Will it bounce back soon?

Key takeaways

  • TON is down 18% over the weekend following Durov’s arrest.
  • $0DOG officially begins trading on Gate.io and MEXC exchanges.

TON dips Below $6 following Telegram CEO’s arrest

TON, The Open Network’s native coin, is trading below $6 after losing 18% of its value over the weekend. The poor performance comes after Pavel Durov, Telegram’s founder and CEO, was arrested in France on Saturday. 

At press time, TON is trading at $5.64 and has dropped to the tenth place in the market. If the bearish trend continues, TON could drop below the $5.5 mark in the coming hours. However, Durov’s release could see the coin rally higher in the short term. 

What is Bitcoin Dogs?

The cryptocurrency market continues to churn out excellent projects that provide unique value propositions to investors and users. Bitcoin Dogs has joined this rank after raising over $13 million during its presale. 

Bitcoin Dogs is a new project leveraging the growth of the Bitcoin blockchain to become a leading coin. As the first BRC-20 token ICO on the Bitcoin network, Bitcoin Dogs adds another layer of utility to the blockchain. 

It combines the basic features of cryptocurrency, non-fungible tokens (NFTs), decentralised finance (DeFi), and Web3 culture to build a solid project. 

After raising $13 million during its presale, Bitcoin Dogs is now trading on the Gate.io, Unisat, and MEXC cryptocurrency exchanges. The team is now focusing on rolling out its various products. 

Bitcoin Dogs is launching the biggest NFT mint on the Bitcoin network. The team seeks to make the Bitcoin network a leading smart contracts blockchain, similar to Ethereum, Solana, and BNBChain. 

$0DOG trades above $0.02

Bitcoin Dogs completed its presale and is now trading on three cryptocurrency exchanges. $0DOG has been listed on three Tier-1 crypto exchanges: Gate.io, Mexc, and Unisat.

Data obtained from MEXC showed that $0DOG is trading at $0.02181 per coin. Users can purchase $0DOG on MEXC and Gate.io. However, the only Bitcoin Dogs trading pair available currently is the 0DOG/USDT pair. The crypto exchanges could launch other $0DOG pairs as the project builds liquidity. 

Should you buy the Bitcoin Dogs token from the crypto exchanges?

If you are interested in investing in the Bitcoin Dogs project, you can only buy the tokens via the above-mentioned cryptocurrency exchanges. This could be an excellent opportunity for investors to purchase $0DOG before it lists on more centralised and decentralised cryptocurrency exchanges. 

Bitcoin Dogs could be a big winner in this bull run thanks to the project’s unique proposition to investors and users.

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Whale doubles down on SOL as traders eye Bitcoin Dogs

  • Solana reclaimed the $160 level over the weekend to see SOL bulls reach the highest level since August 9.
  • As a whale doubles down on SOL, what’s the outlook for Bitcoin Dogs?

Bitcoin recovered from a slight setback to trade above $64,000 on August 25, with this coming as the market reacted to news of the arrest of Telegram founder Pavel Durov.

Despite the double-digit dips for Toncoin, Bitcoin held near $64k and Solana retested the $160 price level, while traders continued to show bullishness for Bitcoin Dogs.

Whale stakes $4.5 million Solana (SOL)

News of Telegram founder Pavel Durov’s arrest in France attracted negative reaction across crypto. Top coins declined alongside Toncoin (TON), the cryptocurrency powering The Open Network blockchain that’s increasingly being integrated with encrypted messaging platform.

Here’s a comment from Edward Snowden:

Despite the downside pressure, Bitcoin remained near $64,000 and Ethereum changed hands near $2,700. Meanwhile, Solana reached highs of $160 for the first time since early August.

A whale took advantage of the early slip to add to their SOL holdings. Per details by Lookonchain, a whale bought over 28k Solana (SOL) tokens worth over $4.5 million, which they proceeded to stake.

The whale’s big move is in spite of the Solana network seeing fierce competition in the meme coin space from TRON. Over the past week, SunPump platform has taken a significant bite into Pump.fun’s dominance, including in terms of revenue.

Is Bitcoin Dogs worth buying in current market?

As analysts across the market have suggested in recent weeks, various cryptocurrencies could offer a notable opportunity for a long-term bet.

BTC stands out for its potential breakout to a new all-time high. Meanwhile, traders hunting for the next gem are likely to find tokens such as Bitcoin Dogs potential opportunities.

The Bitcoin Dogs token is the BRC-20 token that completed the first-ever presale on Bitcoin. After making its debut on Gate.io, MEXC and Unisat, the 0DOG token has quickly listed on Uniswap and DEXTools. OKX Web3 wallet also support the 0DOG token.

In the lead up to Bitcoin Dogs’ listing on MEXC and Gate.io, top analysts suggested that this might a good buying opportunity for those eyeing 0DOG.

Conclusion

While Solana’s value has bounced off a multi-week hurdle, investors are bullish on SOL. Toncoin and Notcoin, which have tanked in the wake of Durov’s arrest, may yet bounce as the broader market eyes recovery.

Meanwhile, Bitcoin Dogs has the potential to be a good long-term opportunity, particularly the project’s blend of play-to-earn, NFTs and DeFi on Bitcoin. After the token’s listing on Gate.io, MEXC and Uniswap, 0DOG may be worth watching should other top exchanges follow suit and provide further visibility.

If interested in learning more about Bitcoin Dogs, visit their official website.

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