Connect with us

Blogs

What experts have said about Dogecoin (DOGE)

Published

on

Dogecoin

If you have been in the crypto space for more than a year, you know that every prediction and comment about cryptocurrencies in general usually has to be taken with pinch of salt. Whether Bitcoin hits the $1 million price mark or whether it crashes down to zero is pretty much anyone’s guess. However, there is one cryptocurrency apart from Bitcoin that has defied all predictions even baffling the expectations of its creators. That coin is Dogecoin (DOGE).

How it all began

Dogecoin was launched in 2013 by Billy Markus and Jack Palmer with the purpose of being a fun coin. Almost right after its launch, Dogecoin took on a life of its own spawning a community of sellers, buyers, miners, merchants, speculators, and beggars all in their thousands.

Currently, Dogecoin is ranked among the top 50 cryptocurrencies on CoinMarketCap with a market capitalization of over $300 million at the time of this publication. Dogecoin was meant to die a natural death after a couple of months of making rounds as the parody coin online. However, DOGE has continued to survive, growing in popularity even after attacks that saw Dogecoin holders lose millions.

So what value does this parody coin represent to the extent of it continuing to gain value even after years of being abandoned by its developers? Well, a couple of industry experts have weighed in on the matter and here is what they have said so far.

What experts have said about Dogecoin

To begin with, one of the reasons that seem to compel most newcomers into buying into altcoins is their low price. Well, at least that is what Lewis Tuff, the chief platform engineer at Revolut believes. According to him, new market investors are pumping money into cryptocurrencies like Dogecoin due to their low price tag in a bid to make gains when the coin get to a higher price mark.

This is not new in the market. In fact, it has a common name which is  “HODL”. Basically, an investor would prefer to hold a whole amount of Dogecoin instead of a fraction of Bitcoin. Currently, Dogecoin is priced at $0.003 and even though most experts like Mr.Tuff will advise against investing on cryptocurrencies based on their low price in the market, most newbie investors will naturally find it easier to HODL as opposed to conducting research and investing based on a platforms technicality.

The CEO of Eidoo (a multicurrency wallet development firm) Thomas Bertani, believes that altcoins such as Dogecoin represent a lack of research among new investors. To back up his claim, Alvara VP, Richard Asquith has also weighed in on Dogecoin in the past saying that it’s a “clear indication of speculation.” According to Asquith, speculators are in search of the next bubble and that is why altcoins such as Dogecoin are attractive only as speculation conduits.

Final word

No matter what the experts say about the parody coin, it’s pretty clear that it’s here to stay. Currently, Dogecoin developers have embarked on developing the platform once again after years of abandonment.  Plus Dogecoin has somewhat regained its popularity as the developers have already updated and released new protocols that allow exchanges and merchants like LazyPyramid accept Dogecoin as payment. For now, however, the future of DOGE is what every Shiba is waiting to see.

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Pexels

Altcoins

Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

Published

on

Singapore, Singapore, 26th February, 2021, // ChainWire //

Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

Unifi Protocol announces the launch of Unifi Farms. The most revolutionary part of Unifi Farms is there is no staking of the liquidity token required. The public beta launch of Unifi Farms V1 will take place on not one, not two, but six different blockchains at once. 

Unifi is proud to announce the upcoming public beta launch of Unifi Farms V1 on Binance Smart Chain!

Unifi Protocol is not a clone of other DeFi projects, which has led to some very unique innovations.  Unifi Farms will continue this tradition of shattering expectations and introducing features on Unifi Farms not being offered anywhere else in DeFi!   

Unifi Farms will have several advantages over old-fashioned DeFi farms.  The one that will likely be the most revolutionary with Unifi Farms is there is no staking of the liquidity token required! Welcome to the world of true auto-farming on Unifi, where we refer to it as No-Stake Farming.

Why is farming without staking so revolutionary?

Savings! Everyone agrees the high network fees on Ethereum have a large impact on the farming rewards earned by liquidity providers.  Even on low cost networks such as Binance Smart Chain, the network fee is a cost that reduces the benefit of farming. 

To participate in most farms, the user pays at least five network fees.…

Continue Reading

Altcoins

DeFi Wizard Raises $750k from Blockchain Investment Bigshots, to Simplify Multi-chain DeFi Legos

Published

on

Bengaluru,, India, 24th February, 2021, // ChainWire //

In order to give shape to their ‘one-click DeFi contracts creation’ dream, Defi Wizard has raised a total of $750,000 from X21 Digital, AU21 Capital, Amsterdam-based TRG Capital, DeltaHub Capital, NGC Ventures, and ExNetwork.

Speaking on latest development Defi wizard founder and CEO, Anand Kamath said: 

“It gives us immense pleasure to announce that our platform, DeFi Wizard has attracted the attention of leading blockchain investors and funds.”

DeFi Wizard aims to help cryptocurrency companies and businesses seamlessly create digital assets, without any hassles, with the objective of becoming an all-in-one token creation platform. 

Investment Usage

This recently concluded fundraising round is an important milestone for Defi Wizard. It will fuel the development of the platform along with operations/maintenance.

Other ways in which Defi wizard will receive assistance is with liquidity bootstrapping for Uniswap listing, alongwith added global and regional promotional efforts to generate awareness for the platform. 

About Defi Wizard

Defi wizard is a dashboard for building DeFi (decentralized finance) smart contracts with a few clicks. It offers real-time programmer analytics and allows users to create smart contracts for ERC20 / BEP20 / EDST, staking, yield farming, governance, cross-chain bridge, gasless relayer baked in.

As per the latest statistics, more than five projects are already using DeFi Wizard’s staking services and more than $100M AUM has been locked through the smart contracts generated through the…

Continue Reading

Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

Published

on

Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

Continue Reading

Press Release