Altcoins
Dogecoin (DOGE) Price Drops After Weekend Surge
Dogecoin (DOGE) has had an exciting price surge in the previous several days, especially after news of Dogethereum, or DOGE’s plans to become compatible with the ETH network. However, it would seem that the excitement has passed, and DOGE’s price is dropping once more.
Dogecoin price surge surprises the crypto world
Dogecoin has started off years ago as a meme, and a lot of people do not see anything more than that when they look upon it. However, even though the coin may have started out as a joke, it has managed to surprise quite a few investors when its price surged a few days ago.
Dogecoin is often underestimated, but it remains one of the most mineable coins on the market. Additionally, it is often used in transactions, which increases its activity, and the coin is already more active than Litecoin or Bitcoin Cash. Despite this, however, the coin will likely not go anywhere due to the fact that it has an unlimited supply, which means that the mining will never stop. That way, its price can only get lower and lower, as there are more coins in circulation.
A couple of days ago, DOGE’s price suddenly jumped, possibly led by Gate.IO, where an entire third of its volumes are concentrated. The spike has reminded people about DOGE, and many even started talking about the coin getting on Binance.
In the meanwhile, there was also news of Dogethereum, a new DOGE project that will allow the coin to become compatible with ETH’s own network. Dogethereum will basically be a smart contract that allows direct swaps, which is how DOGE might be able to exist on ETH network. As usual, there are skeptics who believe that the project has no future. However, Dogethereum is still expected to launch soon, likely within days.
If it does happen, and DOGE gets to ETH network, it will be a perfect coin for micropayments, rewards, and alike. Currently, DOGE lacks a proprietary wallet, since its own has had a lot of issues lately. The flaw of the project is that there is likely going to be a need for a centralized party that would have to approve the asset switch, new Dogethereum’s issuing, as well as the release of Dogecoins that will be locked.
The excitement is over, as so is Dogecoin price surge
After an entire weekend of going up, DOGE price dropped by an entire 35% yesterday. The coin’s current price is $0.005199, and it still continues to drop at the time of writing. The drop came after the price surged by 70%. Luckily, the drop did not really have much of an effect on the rest of the market. Most of it is currently in the red, but the analysts claim that DOGE is not responsible for this change.
So, what happened to DOGE? Well, it might seem that the initial excitement regarding the Dogethereum simply blew over and that DOGE’s price is simply correcting itself. Many also claim that this is not the last we will hear of this coin and that it might go up once again as soon as Bitcoin makes a significant move. Another possibility is that Dogethereum coming to life will also spark a new wave of interest in the coin. It remains to be seen, and the next few days may be quite interesting for DOGE.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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The crypto market continues to struggle on its way of reaching mass adoption, with most people focusing on Bitcoin. However, Bitcoin still has its fair share of problems, a few of which are quite challenging, with no guarantee that they will ever be fully solved.
While Bitcoin is, and has been the largest cryptocurrency from the moment it was created, there is no guarantee that it will remain at the number one spot forever. While this is mostly what skeptics tend to say, it is still a possibility that cannot be ignored. With that in mind, here are top 3 cryptos that might serve as an alternative to Bitcoin in the future, or maybe even now, considering how high its fees are, and how long its waiting periods tend to be.
1. XRP
XRP has become known as a ‘remittance coin’ due to its goal of providing better, faster, and cheaper international transactions. It was created by a company called Ripple Labs, and so far, it has been one of the best ways for sending money cross-border. It works in combination with Ripple’s products such as xRapid, fueling it and allowing for near-instant transactions at low fees.
The company has decided to offer its products to banks around the world, and most of the financial institutions decided to accept the offer. This is their way of trying to…
The crypto market continues to grow, even though the prices of its many coins were severely damaged during the so-called ‘crypto winter’ of 2018. Even so, the market has grown a lot, and it currently features over 2,100 digital currencies, all parts of their own projects, with a goal of making an impact and entering the mainstream.
Of course, it goes without saying that not a lot of these coins have real potential. Many of them came to be during the ICO craze of 2017 and early 2018 when investors were willing to buy just about any coin. As a result, new startups emerged, each offering its own cryptocurrency. Most of these coins are believed to be bad projects with no future, with only a matter of time before they are declared ‘dead.’
However, there are several coins out there which are worthy of investing in, as well as HODLing on to them. Three such coins that we will focus on today are XRP, Basic Attention Token (BAT), and EOS.
XRP
Let’s start with XRP. This is a coin created by a company called Ripple Labs. As a result, the coin has a strong connection to the company, which many have taken as proof that it is not a real cryptocurrency, that it is centralized, and that it will eventually fade away as a bad project.…
The crypto world is currently facing an uncertain situation as a result of XRP value. Many fans of the digital currency are arguing that the worth should be higher than what it now. A poll taken by Twitter this year showed that 80% of the participants want XRP to be higher than Ethereum. The participant preferred the digital currency to occupy the second largest position against what experts thought. Since XRP has not offered much to improve its reputation, the participant’s reaction was surprising indeed.
From what we have seen so far, one question to ask is, why does the cryptocurrency have many supporters? The simple answer is that Ripple focuses on offering remittance services to its fans more than other digital currency. The company offers many products of which one known as xRapid a cross-border payment service impress many supporters.
Why Fans expect an increase in value
Weiss Ratings did not hide the fact that their agency is not supporting Ripple. However, they admitted that the global payment platforms which the cryptocurrency created are commendable. This commendation proves that Ripple has been impactful in that area of blockchain tech application. Also, the players in the community have seen these achievements as well. Therefore, it is not a surprise that they expect an improvement in the market cap and price of XRP
Many people have raised arguments…
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