Schlagwort: crypto markets

After hitting an all-time high of over $7,000 in May 2021, Doge Killer is coming down. The dog-themed meme coin lost another 6% today. Will this trend be sustained or is the dip just temporary?

If you’re looking for answers, you’ll get them from this short article, which will also tell you all about the best places to buy Doge Killer now.  

Top places to buy Doge Killer now

As LEASH is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LEASH using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LEASH right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for LEASH

Now that you’re connected, you’ll be able to swap for 100s of coins including LEASH.

What is Doge Killer?

Doge Killer (LEASH) is a token in the Shiba Inu (SHIB) ecosystem. It is one of many dog cryptos that took the crypto space by storm in 2021. Others are BabyDoge, Drunkdoge, JIND, LAS, and LASM.

Doge Killer was originally conceived of as a rebase token. Its creators then decided to change track and limit the total supply to 107,646 tokens.

The extremely low supply explains the high price. It was trading at around $1,772 at the time of writing, down from its stunning all-time high mentioned above.

Should I buy Doge Killer today?

LEASH is a unique dog coin because typically, dog-themed cryptocurrencies have an artificially high supply. They use it to motivate investors to buy the token and pump the price to one dollar or one cent.

On the other hand, the creators promise holders “lucrative rewards”, but don’t specify what these will be.

Despite its unique premise, it can be extremely volatile, so be careful with any investment you make.

Doge Killer price prediction

Digital Coin Price makes the astounding prediction that LEASH’s price will go up to $2,482 this year. In 2025, it will be trading for just under $4,000. In 2027, its price will be $4,640. Two years later, one LEASH will be worth $7,504.

This may seem like impressive growth, but consider that according to this forecast, Doge Killer will not reach its ATH of 2021 before 2029!

Doge Killer on social media

Performance of #Uniswap’s Hot Pair (Last 24H)🦄$SMI ⏫ 27575% in 24h. Is this another potential $DOGE that we should „shopping“ now?! 🤔🤔$SMI $LEASH $eRSDL $AKITA $SHIB $HOKK $ELON $TRU $KISHU $FEG pic.twitter.com/4AGHCqBMPg

— Gems Radar (@Gems_Radar) May 14, 2021

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Global asset management firm BlackRock is reportedly set to offer digital asset trading services to its investors through the Aladdin portfolio management system.

BlackRock, a global investment asset manager with over $10 trillion worth of assets under management, is reportedly readying itself for a dive into crypto trading services.

The company, CoinDesk reported on 9 February, plans to have the new service available via its Asset, Liability, Debt and Derivative Investment Network (Aladdin).

According to sources familiar with the matter, and cited by CoinDesk, investors in the asset manager will get access to the crypto trading offering as well as a collateralized borrowing facility.

While BlackRock is eyeing this service for its clients, the timing and potential achievement of the project do not come as a surprise.

BlackRock’s interest in crypto has seemed to grow rapidly since news that a fund managed by the firm had bought the CME Bitcoin futures product. That was in March last year and in June signaled further interest in the crypto space by advertising a blockchain expert position for the Aladdin service.

The company then took another step into the crypto ecosystem when it submitted an application for an exchange-traded fund (ETF) with US Securities and Exchange Commission (SEC).

According to the filing, the ETF index will track major blockchain technology companies across the US and across the world.

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BofA says Bitcoin is not a good store of value or inflation hedge as long as it trades more like stocks than gold.

Bitcoin’s correlation to stocks has increased significantly since its peak in November 2021 and currently trades more like a risk asset that its reference as digital gold, analysts at Bank of America said on Wednesday.

According to Alkesh Shah, a lead analyst at the US banking giant, Bitcoin’s growing lockstep trading with stocks has removed the benefit the cryptocurrency had for investors as a hedge against inflation.

Volatility, Shah said in a note from the bank, meant it’s no longer trading alongside traditional hedge assets such as gold.

As such, the BofA analyst suggests that the flagship cryptocurrency is unlikely to gain traction, in current circumstances, as a store of value.

Insider quotes the Bank of America strategist as saying that correlation between Bitcoin and gold has shrunk to near-zero levels. Meanwhile, the crypto asset has seen the correlation with stocks surge to all-time highs during last month’s market sell-off.

And with Bitcoin trading in lockstep with the Nasdaq 100 and the S&P 500, it’s expected the digital gold would continue to lose its appeal as a possible ‘safe haven asset.’

BofA thus expects the benchmark crypto to lead the rest of the digital asset market in remaining risk assets as long as volatility remains so high.

While the analysts see volatility in Bitcoin prices as a factor likely to put investors in developed markets off, they say the outlook may be different in developing economies. The bank believes those in countries plagued by runaway inflation are likely to see BTC as a better inflation hedge or store of value.

Bitcoin traded to highs near $45,000 on Wednesday to maintain its slight upside momentum after plunging more than 50% from its peak last year. The cryptocurrency is now 35% off that peak, while gold has stayed around the $1,800 per ounce level.

Elsewhere, stocks have fluctuated massively year-to-date, with Nasdaq sinking into correction in January amid rising inflation and a hawkish tilt from the US Federal Reserve.

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The crypto market as a whole was uneventful with a few exceptions, which we’ll note here. Most of the top 100 coins by market cap moved in the range of +/-1 to 3% of their values yesterday.  

US indices rallied yesterday amid a raft of strong corporate earnings. Biotech firm Amgen leapt 7.71% after announcing a $6 billion share buy-back program and forecasting strong growth.

Harley-Davidson (+15.34%) and education firm Chegg (+15.77%) spiked on positive quarterly updates. Meanwhile, travel stocks had another strong performance.

Peloton Interactive soared 25% after the fitness bike maker announced a major restructure, including 2,800 job losses and its CEO stepping down.

Bank of Canada Governor Tiff Macklem is scheduled to speak via satellite at the Canadian Chamber of Commerce. Macklem’s words may generate CAD volatility.

Top cryptos

Bitcoin was down around 3%, trading below $44,000 at the time of writing. Ethereum was also down around 3%.

Cardano and XRP registered losses of around 5% and 4%, respectively. Shiba Inu lost around 7%.

Top movers

On February 8, federal officials seized Bitcoin worth $3.6 billion linked to the 2016 hack of the crypto exchange Bitfinex, one of the biggest crypto hacks in history. Bitfinex announced it would repay investors in UNUS SED LEO, which is rallying on the news.  

UNUS SED LEO is a utility token that’s used across the iFinex ecosystem, currently ranking at #25 on the top 100 by market cap. It’s poised to break the top 20 at this rate, trading for $7.36 at the time of writing and up more than 50% in the last 24 hours.

Other top 100 gainers include Ethereum Classic, Tezos, and Decentraland, which added 8%, 13%, and 6% respectively.  

Metaverse token GALA’s price has grown by 117% since the beginning of this month alone. This week’s jump is mainly attributed to the launch of Legends Reborn, Spidertanks, and other anticipated games. The token has gained 6% in the last 24 hours.   

IOTA is a trending crypto this week. Today, it’s up 7%. Its weekly gains come to 17% at the time of writing. IoTeX is reversing recent gains. It’s down 7% in the last 24 h.

Trending

There’s another dog-themed meme coin in town: DOGECO, the native token of Dogecolony. DOGECO is a play-to-win token. The game consists of 30 levels, which the team has released as a demo.

When collecting coins in the game, players must reach the end of the level by neutralizing the enemies or escaping from them.

DOGECO imposes an 8% tax on buy. 3% of this is distributed to DogeColony owners as loyalty rewards. The coin surged 680% today.  

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The SLP token has been on the rise today and it was trading at $0.01926 at the time of writing; a 24.17% rise over the last 24 hours.

Its trading volume stood at $1,262,461,511 after a 136% rise in the last 24 hours.

Why is SLP token price rising today?

The main reason why the price of the SLP token is on the rise is the looming reduction of SLP token supply by Axie Infinity.

Some may ask how the two (Smooth Love Potion and Axie Infinity) are connected. But here is how.

Smooth Love Potion (SLP) are earned by winning competitions on Axie Infinity, which is metaverse blockchain that allows gamers to play games and also earn as they play.  

Axie Infinity players collect, breed, raise, battle, and trade non-fungible tokens (NFTs) based creatures called ‘Axies’. Players earn Smooth Love Potion (SLP) tokens as rewards and the SLP tokens can be redeemed later to breed new ‘Axies’ creatures.

SLP tokens are different from AXS, which is the cryptocurrency used for transactions within the Axie Infinity ecosystem.

Axie Infinity developers to reduce the SLP token supply

Axie Infinity developers want to make SLP tokens scarcer by implementing changes that will rebalance the ecosystem.

The team had this to say about the issuance of Smooth Love Potion (SLP) tokens:

“The daily quest, in principle, was great to encourage people to play every day, but it’s now become a mass emission mechanism for SLP. By removing the daily quest, we can reduce issuance by around 45 million SLP per day.”

The developers described this as a “painful medicine,” that will be necessary for the future progress of the game. If implemented, the supply of SLP tokens is expected to drop by up to 56%, as the developers stressed that:

“The Axie economy requires drastic and decisive action now, or we risk total and permanent economic collapse. That would be far more painful.”

The team wants to create a $6 million prize fund and make changes in its reward structure.

In season 19, Axie Infinity gave 3,000 AXS to the best player on the leaderboard. The reward has increased to 117,676 for the top 300,000 players in the next season.

The team concluded by saying:

“Put simply, we’ve prioritized growth and onboard millions. Without this approach, Axie would likely have remained a small, niche game with a few thousand players.” 

During the past several days, the price of Axie infinity token (AXS) has also as the general crypto market recovers. Its current price level is 30% higher than what it was at the end of January.

After the news of SLP reduction, the SLP price surged by more than 40% before retracting to its current price.

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