2021-04-20 12:02:07

Dogecoin ($DOGE) Cryptocurrency at $50 Billion Is Bigger Than Ford #DogeDay

For a cryptocurrency created as a joke, Dogecoin now finds itself in some serious company.

After a 400% rally in the past week, the total value of all circulating Dogecoins in the world is about $50 billion, according to data provider CoinMarketCap.com.

That makes it bigger than the market cap of Ford Motor Co. and Kraft Heinz Co. — and nearly equal to Twitter Inc., the platform where Elon Musk and Mark Cuban have promoted the Shiba Inu-themed meme coin.

No one thinks these blue-chip stocks are all that comparable to Dogecoin, a fringe asset with no real purpose beyond being a joke on social media. But the similarity of their market values underscores the boom in cryptocurrencies that’s taken Wall Street by storm.

Every Dog Has Its Day

Dogecoin’s market cap makes it bigger than Ford and Kraft Heinz

Plumber Buying Doge Shows Retail Investors’ Power in Crypto

It’s all part of the dizzying trajectory for Dogecoin, which has delighted followers of so-called alt coins, but dismayed some crypto enthusiasts who worry that it’s only adding to volatility and detracting from its more useful endeavors, like decentralized finance.

Dogecoin prices climbing once again, with fans rallying behind the #DogeDay hashtag to celebrate April 20, or 4/20, known in cannabis culture as a day for smoking marijuana. Prices were trading just below 40 cents, according to CoinGecko.com.

Meanwhile, other cryptocurrencies have been mired in a slump as euphoria from Coinbase Global Inc.’s listing wears off. Bitcoin, the world’s largest token, has fallen for five straight days, back to $55,000.


2021-04-20 12:31:10

WeWork Starts Utilizing Cryptocurrency as Form of Payment – Joplin Globe


2021-04-20 05:55:00

“It is an intelligent move to invest in Cryptocurrency”

New Delhi [India], April 20 (ANI/ThePRTree): Stock and crypto investor Vaibhav Kohli, launches his YouTube channel to provide thorough information about personal finance and investments in crypto-currency.

As market capitalization of cryptocurrency exceeds USD 2 Trillion, crypto-investment is giving favourable returns to the investors.

With alleviating acceptance in the Cryptocurrency domain, people are facing the challenge of how much to invest in Crypto. Hence, Vaibhav Kohli having studied the market well has made it his area of expertise to guide people for the same. He says, “Digital currencies have shown tremendous growth during the pandemic and are a safe bet to make in 2021.”The latest trend shows the market capitalization of Cryptocurrency exceeding USD 2 trillion, which will rise in 2021. There is no doubt that Cryptos have given good returns to investors in the last few years. Various big banks favour at least 1 percent of the portfolio allocation in Crypto, including JP Morgan.

Vaibhav believes Cryptocurrency is still at an infant stage and has a huge potential in coming times. Answering the questions the youth have today, he launched his YouTube channel and Instagram ventures where he provides thorough information about personal finance and the wonders of investing in crypto-currency. From guiding newcomers to invest in cryptocurrencies to talking about its future and safety, Vaibhav does it all.

According to him, the power of investing, whether in Crypto, stocks, real estate or bonds, can be realized by the simple fact that money invested will always increase its value. In contrast, money saved shall eventually lose its value due to inflation. Bitcoin, he explains, is a distinct asset class, and people should know all its aspects before diving in.

Bitcoin AllocationAgainst the dominance of international currencies and inflation, Crypto is on the verge of making its mark. Experts are suggesting to allocate assets based on the typical 60/40 stocks or bond portfolio. According to certain studies, a portfolio should consist of 6 per cent bitcoin for achieving better growth.

In the same line, Vaibhav himself has an adequate Stock and Crypto portfolio. He is currently teaching others how they can develop a strong portfolio in Crypto investing and his commendable techniques have contributed to a trustworthy base.

This story is provided by ThePRTree. ANI will not be responsible in any way for the content of this article. (ANI/ThePRTree)


2021-04-20 12:22:00

Fund manager who rode out the dot-com bust sees cryptocurrency parallels and stock opportunities

“You have a new technology that people are still trying to grasp and don’t fully comprehend,” Jacob, also chairman of Jacob Funds, tells MarketWatch in a Monday interview. Still, there remains a big then-and-now difference between the two.

“Cryptocurrency is really not driving the stock market today. The internet was driving the stock market in the late 1990s. We may get to that point, but we’re not there yet,” he said.

Jacob, whose funds look for companies with innovative technology and a wide investment moat, says they are approaching the crypto space with the same balance as Chinese internet stocks in the early 2000s, seen as risky at the time. “We know we want the exposure, but we also want to be extra careful in terms of how much risk we introduce in the portfolios,” he said.

One play he likes is Voyager Digital
VYGR,
-9.97%

VYGVF,
-9.62%
,
a top holding in both the Internet Fund and Jacob Discovery Fund
JMCGX,
-2.82%
.
It is a small Canadian cryptocurrency broker with robust technology and an impressive management team. Co-founder and Chief Executive Steve Ehrlich is a former E*Trade executive, while another co- founder, Oscar Salazar, was the founding architect and chief technology officer of ride-hailing technology group Uber
UBER,
-4.14%
.
Up over 2,000% in 2021, shares have gained 382% so far this year.

Another holding in those Jacob funds is Silvergate Capital
SI,
-5.95%
,
a specialty bank focused on the digital currency industry.

It is a “traditional bank that decided that the crypto market needed an exchange network that can handle a 24-7 asset,” said Jacob. The bank is known for its Silvergate Exchange Network, an instant settlement network. As the existing financial system has been slow on this front, it leaves smaller, more nimble players more able to cater to what is needed right now. Shares are up 68% this year so far, after a 367% gain in 2020.

Cryptos are a “dangerous playground to be playing in for sure…but it’s also an area where there are exciting companies that will benefit greatly from this and should be around for a long time or eventually acquired,” said Jacob.

Watching earnings and cryptos

Stock futures
ES00,
-0.40%

YM00,
-0.37%

NQ00,
-0.34%

are under pressure after Monday’s tech-fueled Nasdaq
COMP,
-0.98%

selloff. Stocks in Tokyo
NIK,
-1.97%

tumbled 2% amid rising COVID-19 cases. Elsewhere, bitcoin
BTCUSD,
-0.61%

continues to drift south, but Dogecoin
DOGEUSD,
+1.08%

is rising on “Doge Day” — a loosely organized effort to push to $1 the cryptocurrency that started as a joke.

Pharmaceutical giant Johnson & Johnson
JNJ,
+0.28%

and cigarette maker Philip Morris
PM,
-1.33%

will report earnings ahead of the open, with streaming giant Netflix
NFLX,
+1.45%

the big headliner after the close.

Read: The pandemic’s differing earnings effects will be on display with tech, airline reports

Shares of International Business Machines
IBM,
-0.35%

are climbing ahead of the open, after the tech giant topped Wall Street estimates and forecast a return to pre-COVID-19 growth levels.

United Airlines
UAL,
-1.58%

lost more than $1.3 billion at the start of the year, missing Wall Street forecasts, but the airline promised new international routes for countries open to travelers. That is, if they can find any, as the State Department is now warning Americans not to visit 80% of the world due to COVID-19 risks. India has just put its capital under a weeklong lockdown amid surging cases.

A tweet by Tesla
TSLA,
-3.40%

Chief Executive Elon Musk appeared to boost shares of the electric-car maker in late trade. “Data logs recovered so far show Autopilot was not enabled & this car did not purchase FSD [Full Self-Driving],” he said on Twitter
TWTR,
-3.11%
.
Elsewhere, an article in China’s state-run Xinhua News Agency said Tesla needs to do more to win consumer trust, after a protest by a customer at an automobile show on Monday.

In what looks like a win for cannabis companies, the House of Representatives has passed a measure making it easier for cannabis-related businesses to access financial services.

Apple
AAPL,
+0.51%

will host a virtual event on Tuesday — “Spring Loaded.” Analysts expecting the tech giant to roll out newer, faster iPads. Also, check out MarketWatch’s new quarterly review of Apple’s key metrics.

Random reads

After casting doubts on COVID-19, rocker Ted Nugent says he has it.

Tyrannosaurs may have hunted in packs like wolves, new research has found.

Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.

Want more for the day ahead? Sign up for The Barron’s Daily, a morning briefing for investors, including exclusive commentary from Barron’s and MarketWatch writers.


2021-04-20 11:58:47

What is Chia cryptocurrency — and why is it bad news for hard drives?

A new cryptocurrency called Chia could eliminate some of mining’s biggest problems, while creating a new one in the process.

The Chia Network, which was founded by BitTorrent creator Bram Cohen, runs on the principle of using storage space to mine coins, rather than relying on energy-hungry mining rigs powered by graphics cards and ASIC miners. But there’s a catch — and it’s not good news for hard drives and SSDs.


2021-04-20 11:00:00

Venmo is adding support for users to buy, store, and sell cryptocurrency

Venmo is releasing a feature that will allow users the option to store, buy, and sell popular cryptocurrencies, PayPal announced on Tuesday. Similar to PayPal, Venmo will support four different cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. PayPal had said last year that Venmo would get support for cryptocurrencies.

You can get started with as little as $1, and transactions are managed from the app. Venmo said in a press release that it will begin rolling out the feature to some users today, and tells The Verge it anticipates that “most customers” will have access to cryptocurrencies in the app by the end of May.

All cryptocurrency transactions will be managed directly from the Venmo app.
Image: Venmo

Venmo’s support for cryptocurrencies could encourage more people to invest in them. PayPal reported in its Q4 earnings reporter that Venmo had 70 million users; given the app operates like a social network, users may find cryptocurrency more approachable if they can see their friends buying and selling right inside Venmo.

Venmo is the latest payment app to offer support for cryptocurrency. PayPal allowed users to buy, hold, and sell cryptocurrency from the main PayPal app in November and added the ability for US users to make purchases with cryptocurrency in late March. And Venmo and PayPal competitor Square launched support for Bitcoin in its Cash App in 2018.


2021-04-20 10:41:11

SafeMoon Coin price, marketcap discussed. How to buy this new cryptocurrency

SafeMoon the new CryptoCurrency is gathering interest amongst enthusiasts, search trends show.

Little is known about the cryptocurrency so far, though developers have held live Ask Me Anything (AMA) meetings to answer some questions.

The recently launched SafeMoon claims it will reward people who buy and hold on to the cryptocurrency and issue a penalty to those who sell it on.

To buy SafeMoon, cryptocurrency users have to buy a Binance Coin (BNB) first, and then essentially swap it for SafeMoon.

Going “to the moon” is a term popularized recently by the Reddit group WallStreetBets, who use it to describe an asset’s price skyrocketing.

SafeMoon rewards participants by levying a ten per cent penalty tax on sellers and redistributing five per cent of the proceeds to those who already own the currency.

A whitepaper report that outlines the features of a product such as a cryptocurrency—was reported to be accessible on the website by one Reddit user, but others said they couldn’t find it.

How to Buy SafeMoon

1. Buy Binance coin ($BNB)
2. Make a Trust Wallet account and transfer your BNB into it.
3. Swap your coins to BNB smart chain in the Trust Wallet app.
4. Go to the DApps tab at the bottom, open up pancake swap, connect your Trust wallet, and swap your Binance coins for SafeMoon.
5. It is not officially on the PancakeSwap list, so enter the token (0x8076C74C5e3F5852037F31Ff0093Eeb8c8ADd8D3) or go directly here.

6. Occasionally PancakeSwap will drop an error when swapping to SafeMoon, click the settings icon and set your slipping rate to 11% (or slightly higher if it doesn’t work).

Some cryptocurrency enthusiasts are excited about the coin, whilst some are sceptical.

One Reddit user said: “I completely agree that once they get listed on an exchange this could easily blow up.”


2021-04-20 11:00:00

Cryptocurrency Giant Binance Hires Former Top Bank Regulator

A former top U.S. banking regulator is set to join Binance, one of the world’s biggest bitcoin exchanges, in the latest move by a cryptocurrency company to deepen its ties to Washington.

Brian Brooks, an acting head of the Office of the Comptroller of the Currency under the Trump administration, will become the new chief executive of Binance.US, the U.S. affiliate of overseas crypto-exchange giant Binance Holdings Ltd.

Mr. Brooks said in an interview that he would start the new job May 1. A spokeswoman for the crypto exchange confirmed the hire.

During his time at the OCC, Mr. Brooks was dubbed the “CryptoComptroller” on social media for his friendly attitude toward digital currencies. Under his watch, the OCC released guidance clarifying that banks could provide cryptocurrency custody services and use stablecoins to facilitate payment activities, moves that helped make it easier for traditional financial institutions to get into crypto. Stablecoins are a type of digital coin backed by a commodity or traditional currency like the U.S. dollar.

Mr. Brooks was acting head of the OCC, a unit of the Treasury Department, from May 2020 to January. Before joining the OCC he was the chief legal officer of Coinbase Global Inc., the U.S. bitcoin exchange. He also previously worked as general counsel of mortgage giant Fannie Mae.


2021-04-20 09:23:00

What is XYO coin? Here’s how you can buy this popular cryptocurrency

XYO coin is one of the most popular cryptocurrency out there. The currency is getting so much attention recently because the users certainly saw a spike in its price. Because of this, they have been trying to find answers to what is XYO coin and how to buy XYO coin. Thus we have listed all the information we have about the same. Read more about XYO coin. 

What is XYO coin?

XYO happens to be one of the most known cryptocurrencies out there that operates on the Ethereum platform. The most recent XYo price has been recorded to be around 0.00250583 USD. The cryptocurrency has seen a 174.38 rise over the last 24 hours. It is available to trade on a total of 6 active markets and has also been given a rank of 630 on Coinmarketcap. Because of the price surge, the users have recently been trying to know how to buy XYO coins. So to help them out we have listed all the information we have about the same. 

Exhange platfomrs to buy XYO coin

  • Kucoin:  This platform happens to be one of the  most popular and secure exchanges to buy and sell cryptocurrency. It has started from Hong Kong and has now been used by thousands of people all over the globe. Currently the platform offers its users a number of methods for earning that help preserve and even increase your wealth. 
  • Bittrex: The users can now use this exchange on their phones. Trading might have become extremely convenient with the launch of such platforms. Bittrex offers its users the security, trading, and capabilities of the best-in-class regulated cryptocurrency exchange. They have used multiple levels of security to keep the users transactions and cryptocurrency secure. 
  • Yobit: This is a Russian based cryptocurrency platform that has managed to gain a lot of popularity recently. The exchange was started in 2015 and it uses safety precautions including file system encryption, SSL, anti-ddos, cold and hot wallets, and a real-time encrypted data backup. This happens to be one of the most secure exchanges available for XYO cryptocurrency. 

How to buy XYO coin?

  • You will first need to register on the Coinbase platform. This is because the users need to buy the cryptocurrency with the help of Bitcoin (BTC) or Ethereum (ETH). Complete all the required processes including the KYC of the account created. 
  • After completing the KYC, add the payment method to make the payment for the number of XYO coins you want to buy. There are a number of different options available on the app to make payments with. 
  • Then click on the trade button and buy the XYO coin from the platform. And still another step is left. 
  • Since XYO coin is basically an alt coin,  it needs to be transferred to an exchange. You can use platforms like YoBit which has an impressive amount of altcoin trading pairs on their app. 
  • For security, you will be asked to set up a 2FA authentication. Complete this process to keep your account secure. 


Promo Image Source: Tech Daily on Unsplash


2021-04-19 17:42:10

Forget Dogecoin, Buy This Potential 10X Cryptocurrency Instead

What Happened to the Dogecoin Price Today?

Source: Orpheus FX / Shutterstock.com

  • The meme has come to life. Once created as a “joke” cryptocurrency based on the viral Doge meme, Dogecoin (CCC:DOGE) has emerged as the market’s hottest cryptocurrency — and indeed, hottest asset.
  • Back at the end of last year, Dogecoin was trading for less than a penny.
  • Today, the Dogecoin price sits above 35 cents, representing a whopping 35X gain in about four months.

Why Dogecoin Is Surging

  • The power of the people. Retail traders realized the power of the people during the GameStop (NYSE:GME) short-squeeze. They realized that, when banded together, retail traders can be a powerful buying force and materially impact the price of financial assets.
  • Retail traders have been trying to apply this collective buying force to Dogecoin for months now. Tweets about Dogecoin going “to the moon” have been flying around Twitter (NYSE:TWTR) since December.
  • But it wasn’t until the Coinbase (NASDAQ:COIN) IPO and a few celebrity endorsements from Mark Cuban, Guy Fieri and others, that the “long Dogecoin” movement gained a critical mass and the Dogecoin price skyrocketed.

Will Dogecoin Reach $1?

  • Congratulations to all the folks who have made big money on buying Dogecoin. It took guts. And it paid off. I couldn’t be happier for people who made money in this cryptocurrency.
  • But the reality is that there is nothing technologically unique about Dogecoin in the crypto space. That doesn’t mean that it’s going to zero. Dogecoin may have staying power. But its $50 billion market cap already prices in a lot of this staying power.
  • If you’re looking to play the “Crypto Craze,” take a look at Basic Attention Token (CCC:BAT-USD) instead.
  • Basic Attention Token is the cryptocurrency underlying the new web browser Brave that could one day usurp Google Chrome as the world’s most used browser.
  • Brave is a Web 3.0 browser that acts, looks and feels like a sleeker version of Chrome. The big difference is that, on Brave, consumers are paid to watch ads in Basic Attention Tokens.
  • We believe this paradigm shift toward users taking back control of their data — and being rewarded for sharing it with advertisers — represents the future of the internet.
  • Brave is at the forefront of defining this future. If it’s successful, Basic Attention Token will be one of the most valuable cryptocurrencies one day.

Dogecoin Price Forecast

  • I’m an honest guy. And honestly, I have no idea where the Dogecoin price will trend over the next few weeks, months or years. I don’t think anyone really does.
  • But I am confident that Basic Attention Token has significant long-term upside potential as the Brave web browser redefines the internet.
  • If you’re looking to play the Crypto Craze, consider passing on Dogecoin and instead buying Basic Attention Token today.

Cryptocurrencies represent the future of the world. More specifically, the blockchain technology upon which cryptocurrencies are built will redefine everything, and allow humans to create trusted, decentralized systems that are cheaper, faster and more secure than today’s centralized systems.

But you have to be careful with how you play the Blockchain Revolution.

Blockchain and cryptocurrencies today are very much like where the internet was back in the late 1990s. At that time, there were thousands of internet startups hoping to turn into the next big thing.

While the internet did end up taking over the world, most of those internet startups went bankrupt, and all the rewards of the Internet Revolution were horded by a few tech giants like Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG).

Today, there are over 4,000 cryptocurrencies in the world. Not all 4,000 will make it. Most will flop. And all the rewards of the Cryptocurrency Revolution will be horded by a dozen or so coins.

In other words, to be a successful crypto investor, you have to be selective.

Luckily, we can do that for you. In our exclusive research platform — The Daily 10X Stock Report, where we highlight a potential 10X stock pick every single trading day — we also highlight our favorite cryptocurrencies which we feel are the cream of the crop in this overcrowded yet very promising industry.

Click here to gain access to that service, and find out the best cryptocurrencies to buy today.

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.

By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s how his Daily 10X Report has averaged up to a ridiculous 100% return across all recommendations since launching last May. Click here to see how he does it.

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