Tag: dogecoin

BTC, ETH See Gains After Weeks as It Rains Green on Crypto Price Chart

The cryptocurrency market, for the first time in weeks, opened with majority coins seeing profits on Friday, July 8. Bitcoin prices touched $22,230 (roughly Rs. 17.60 lakhs) after days of being stuck around the mark of $20,000 (roughly Rs. 16 lakh). As per Indian exchange CoinSwitch Kuber, BTC prices have risen by a significant 6.82 percent at the close of July’s first week. Unconventionally so, BTC saw even higher profits on international exchanges. On Binance and Coinbase for instance, BTC rose by over 8.25 percent to trade at $22,079 (roughly Rs. 17 lakh).

Ethereum followed Bitcoin to see profits today. As per Gadgets 360’s crypto price tracker, ETH prices are up by 6.23 percent. Ether is currently trading at $1,267 (roughly Rs. 1 lakh).

Majority other altcoins managed to see profits after a loss streak that clouded the crypto industry.

These include Binance Coin, Ripple, Cardano, Solana, Polkadot, and Avalanche — all saw escalation in prices.

Even Dogecoin and Shiba Inu reeled-in gains.

Only a handful of altcoins, like Tether, USD Coin, Monero, and Decentraland got struck by losses today.

Overall, the global crypto market cap went up by 5.54 percent over the last day. At present, it stands at $968 billion (roughly Rs. 76,75,798 crore), as per CoinMarketCap.

Meanwhile, the blockchain industry is bagging investments and regulatory laws in its favour in several parts of the world.

Italy’s Ministry of Economic Development, for instance, is planning to provide up to $46 million (roughly Rs. 364 crore) in subsidies for developing projects in the blockchain and Web3 sector.

It is also noteworthy that Web3 projects have caught the eye of hackers and cyber exploiters around the world.

As per a report by CertiK, Web3 projects have lost more than $2 billion (roughly Rs. 15,844 crore) to hacks and exploits in the first six months of 2022— more than all of 2021 combined.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

Affiliate links may be automatically generated – see our ethics statement for details.

Check out our Latest News and Follow us at Facebook

Original Source

Bitcoin Recovers to $20,000 After Hitting New 18-Month Low While Altcoins Cope With Big Weekend Swings

Bitcoin tumbled to its weakest level in 18 months on Saturday before mounting somewhat of a recovery through Sunday although experts believe that another slide soon could be in the offing, extending a slide on investor worries about growing troubles in the industry and the general pull-back from riskier assets. The price of the largest cryptocurrency by market capitalisation initially slipped to almost $19,618 (roughly Rs. 15.2 lakh) levels on early Monday before mounting a recovery. As things stand, BTC’s price is hovering around the $20,000 (roughly Rs. 15.54 lakh) mark across global exchanges while Indian exchange CoinSwitch Kuber values Bitcoin at $21,526 (roughly Rs. 16.7 lakh), up by 8.19 percent in the past 24 hours.

On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $20,007 (roughly Rs. 15.54 lakh) while CoinGecko data shows that BTC’s value is currently in the red by 24.7 percent week-to-day.

While Bitcoin managed a bit of hold some ground around the $20,000 (roughly Rs. 15.5 lakh) mark, Ether managed a recovery too. The second most popular cryptocurrency had fallen to around $951 (roughly Rs. 74,000) mark on Saturday before seeing an upside on Sunday. At the time of publishing, Ether is valued at $1,161 (roughly Rs. 90,000) on CoinSwitch Kuber while values on global exchanges see the crypto’s value at $1,081 (roughly Rs. 84,000), where the cryptocurrency has gained 4.93 percent over the past 24 hours.

Despite Ether’s upside over the past 24 hours the cryptocurrency’s value remains in the red by over 25.7 percent when compared to last week’s value, as per CoinGecko data.

Gadgets 360’s cryptocurrency price tracker reveals a similar story for most major altcoins too — as the global crypto market capitalisation rose by 8.2 percent in the last 24 hours. BNB, Polkadot, Avalanche, Solana, Uniswap, and Chainlink have all gained in value, recovering from Saturday’s dip.

Memecoins Shiba Inu and Dogecoin saw big gains too during the recovery. Dogecoin is currently valued at $0.06 (roughly Rs. 5) after gaining more than 10.63 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.0000085 (roughly Rs. 0.000662), up by 3.28 percent over the past day.

“Prices of major cryptocurrencies picked up slightly over the weekend following a week of uncertainty. Despite market turmoil, a recent Bank of America survey of more than 1,000 digital asset users indicated that investors are still optimistic about the future of crypto, with 91 percent of those surveyed saying they will continue buying crypto in the next six months. Analysts have pointed out that there are catalysts in the near future that will help stabilise crypto price – this includes the much anticipated Ethereum merge expected for the later half of this year,” the research team at CoinDCX tells Gadgets 360.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Check out our Latest News and Follow us at Facebook

Original Source

FTC Reports Over 46,000 People Lost More Than $1 Billion in Cryptocurrency Scams Since 2021

More than 46,000 people reported losing over $1 billion (roughly Rs. 7,770) in cryptocurrency scams since the start of 2021, the Federal Trade Commission (FTC) said in a report on Friday.

Nearly half the people who reported losing digital currencies in a scam said it started with an ad, post or a message on a social media platform, according to the FTC.

The craze for cryptocurrencies was at a fever pitch last year with Bitcoin hitting a record high of $69,000 (roughly Rs. 53.6 lakh) in November. (Bitcoin price in India at 11:12am on June 4 was Rs. 24,38,152)

Reports point to social media and crypto as a combustible combination for fraud, the agency said, adding that about $575 million (roughly Rs. 4,467 crore) of all losses related to digital currency frauds were about “bogus investment opportunities”.

Nearly four out of every ten dollars lost in a fraud originating on social media was lost in crypto, far more than any other payment method, with Instagram, Facebook, WhatsApp and Telegram being the top social media platforms in such cases, according to the report.

The average reported loss for an individual was $2,600 (roughly Rs. 2,02,000) and bitcoin, tether and ether were the top cryptocurrencies that people used to pay scammers, the FTC said.

In May, Dogecoin co-founder Billy Markus labelled 95 percent of cryptocurrency projects “scams and garbage” in a tweet urging his followers to change the general opinion people have about the crypto industry. Markus’ tweet states that cryptocurrencies have earned quite a bad reputation since their inception, with many people, especially traditional financial players, using derogatory terms to describe the asset class. Tesla CEO Elon Musk, in response, let out a “rolling on the floor laughing” emoji to Markus’ tweet which the latter lauded as being particularly brilliant.

Adding to his original tweet, Markus said that the people who are going to be “triggered” and “lash out” at his tweet are “scammers.” The tweet, as expected, sparked a heated debate among members of the crypto community on Twitter.

© Thomson Reuters 2022

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

Check out our Latest News and Follow us at Facebook

Original Source

Dogecoin Co-Founder Billy Markus Believes Terra 2.0 Will Attract ‘Dumb’ Gamblers

Dogecoin co-founder Billy Markus who’s been very vocal on Twitter about the TerraUSD stablecoin debacle, now claims that the upcoming launch of Terra 2.0 — the new iteration of the failed blockchain project, will show the world how “dumb” cryptocurrency gamblers really are. The reboot, tabled by Terra CEO Do Kwon over a week back amongst staunch criticism, has been greenlit by the community after the proposal won a vote with a 65 percent majority. Per Kwon’s proposal, the current LUNA token will be renamed LUNA Classic, while a new LUNA-only blockchain will be launched at block 0 on May 27.

While Marcus did not discuss in detail what he meant by the statement, based on recent developments surrounding the Terra project, it is easy to conclude that the Dogecoin founder believes things may still get worse even after Terra launches its new chain.

Just over a week back, Markus put out a controversial tweet following the TerraUSD crash labelling 95 percent of cryptocurrency projects as “scams and garbage.” Adding to his original tweet, Markus said that the people who are going to be “triggered” and “lash out” at his tweet are “scammers.” While the Dogecoin creator’s tweets came along at a time when the crypto market appears to be booming with scam projects, it also seems like a blatant jibe at the Terra community.

Markus’ “scams and garbage” jibe also happened after he’d blasted Terra’s Do Kwon as one of the “tech bros” — a move that eventually led to Kwon blocking Markus on Twitter.

Meanwhile, the Terra team, as part of its revival plan, is working closely with several centralised exchanges to support an upcoming airdrop to its community. 35 percent of the LUNA tokens will be airdropped to holders of pre-attack LUNA and UST. A large chunk of the token distribution will also be allocated for Terra dApp developers and to the overall ecosystem.

Terra’s founder, the charismatic but polarising South Korean entrepreneur Do Kwon, said the motivation for rebooting the currency was to support the wider platform that had built up around Terra.



Check out our Latest News and Follow us at Facebook

Original Source

BTC Exceeds $30,000 in Value as Overall Crypto Price Chart Reflect Gains for Most Cryptocurrencies

After being red in losses for most of this week, the crypto price charts seem to be jumping back to health at a gradual pace. Bitcoin on Friday, May 20, opened trading at $31,728 (roughly Rs. 24.5 lakh) with minor gains of 2.60 percent as per Indian exchange Coinswitch Kuber. Gains of over three percent also added to Bitcoin values on international exchanges. Its price currently stands around $30,140 (roughly Rs. 23 lakh) on exchanges such as Binance and CoinMarketCap.

Ether followed Bitcoin up the price ladder. ETH saw gains of 2.43 percent that rose its value to $2,124 (roughly Rs. 1.65 lakh), Gadgets 360’s crypto price tracker showed.

As for now, both of the top two cryptocurrencies are a long way from their last All Time Highs of $67,567 (roughly Rs. 52 lakh) and $4,812 (roughly Rs. 3.75 lakh) that they respectively attained in November last year.

Meanwhile, other altcoins that kickstarted the weekend with gains include Binance Coin, Ripple, and Polkadot.

Surprisingly, profits also found their way to meme-based Dogecoin and its rival Shiba Inu.

A bunch of stablecoins however, did see small but significant losses. These include Tether, USD Coin, and Binance USD.

In fact, altcoins such as Solana, Avalanche, and Elrond also found themselves affected with minor losses.

Terra, after its recent, rather harrowing downfall from being the eight largest cryptocurrency in terms of market cap, is trading at $0.00014 (roughly Rs. 0.010777).

The overall market cap of the crypto sector stands at $1.27 trillion (roughly Rs. 9,90,70,706 crore) as per CoinMarketCap.

More investments are coming to the crypto sector, despite its recent slowdown.

In a bid to accelerate research and development in this consumer-centric industry, Andreessen Horowitz (a16z) has pledged a fund of $600 million (roughly Rs. 4,661 crore).

In its recent ‘State of Crypto’ report, a16z had acknowledged that the route for growth for the crypto sector is tough. Despite the coming turbulent days, the firm has been opening floodgates of investments in the crypto and blockchain-based sectors.

Meta has also filed for a patent to operate ‘Meta Pay’, a crypto-supporting online payments service.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

Affiliate links may be automatically generated – see our ethics statement for details.

Check out our Latest News and Follow us at Facebook

Original Source

Bitcoin, Ether Price Tank by Close to 5 Percent as Traders Fail to See Immediate Upside

Bitcoin and the broader cryptocurrency market once again entered a sharp correction after a brutal sell-off on Wall Street on Tuesday. In terms of value, Bitcoin’s price failed to stay above the $40,000 (roughly Rs. 30.5 lakh) mark across exchanges like CoinMarketCap, Coinbase and Binance. At the time of writing, the value of Bitcoin has dipped by 3.43 percent in the past 24 hours and stands at $40,965 (roughly Rs. 31.5 lakh) on Indian exchange CoinSwitch Kuber.

On global exchanges, the price of Bitcoin stands at $38,437 (roughly Rs. 29.5 lakh) falling by 5.06 percent in value over the past 24 hours. As per CoinGecko data, BTC has fallen by 7.5 percent in value week-to-day.

Ether met with a similar shakedown on the day, with on-chain data studied by CoinTelegraph suggesting that there could be more dips in store as the Ethereum network’s total value locked (TVL) continues to flatten. At the time of publishing, Ether is valued at $3,031 (roughly Rs. 2.5 lakh) on CoinSwitch Kuber while values on global exchanges see the crypto’s value at $2,841 (roughly Rs. 2.2 lakh), where the coin has fallen by 5.21 percent over the past 24 hours.

CoinGecko data reveals that the cryptocurrency’s value has taken a fairly bad fall over the past week at 8.5 percent over the past week.

As per Gadgets 360’s cryptocurrency price tracker, BTC and Ether weren’t the only big losers on the day as the global crypto market cap fell by a heavy 5.05 percent in the past 24 hours. Monero, Terra, Polkdadot, Polygon, and Cardano were among the biggest losers on the day, while Avalanche, Uniswap, Solana, Cosmos, and Binance Coin also marked losses.

Shiba Inu and Dogecoin, have also had a dismal day of trading. Dogecoin was flying at one point yesterday before dropping down to a current value of $0.15 (roughly Rs. 11.5) after losing 8.53 percent over the last 24 hours, while, Shiba Inu is valued at $0.000025 (roughly Rs. 0.002), down by 2.55 percent over the past day.

“Despite prevailing headwinds on the economic front, on a fundamental level, the digital assets space continues to grow at a rapid pace. Most recently, Fidelity rolled out a new 401(k) offering in the US, enabling participants to put a slice of their retirement money into Bitcoin. Spot Bitcoin ETFs are also finally making their debut in Australia this week, offering investors in the country direct access to the crypto. The medium and long-term outlook for crypto remains a bright one, with adoption — both institutional and retail — continuing to increase exponentially,” the research team at CoinDCX tells Gadgets 360.

Meanwhile, UK-based Standard Chartered Bank also made crypto news headlines on Tuesday announcing its entry into the metaverse. The London-headquartered lender has purchased a chunk of virtual real estate in the Mega City district of The Sandbox metaverse. In the digital world, this area is reportedly a culture hub inspired by talents from Hong Kong. The move is initiated by SC Ventures, the innovation, fintech investment, and ventures arm of the Standard Chartered Bank. The financial giant is looking to expand services and experiences for its customers.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Check out our Latest News and Follow us at Facebook

Original Source

Exit mobile version