Cryptocurrency Market News: DOGE gets a massive 140% boost thanks to TikTok
|Here is what you need to know on Wednesday, July 8, 2020
BTC/USD is seeing continuation after the initial breakout on July 6 with another 2% move touching $9,470.
ETH/USD is on the verge of cracking $250 and topping out the high of Jun 2 at $253.8.
XRP/USD is one of the biggest gainers with a 9% surge above $0.20 for the first time since June 11.
Indeed, the biggest gainer today is Dogecoin with a 61% surge in the past 24 hours after getting pumped thanks to a TikTok challenge. Next is Vechain with a 25% value increase hitting a new all-time high after its mainnet launch.
Chart of the day: DOGE/USD daily chart
Market
What started out as a joke on TikTok, became one of the biggest pumps Dogecoin has ever experienced. Hundreds of videos talking about DOGE started surfacing TikTok boosting its price by more than 140% on Binance. The official Twitter account of Dogecoin was even forced to make a short statement about the pump.
Be mindful of the intentions people have when they direct you to buy things. None of them are in the spot to be financially advising.
— Dogecoin (@dogecoin) July 8, 2020
Make choices right for you, do not ride other peoples FOMO or manipulation.
Stay safe. Be smart.
❤️ #dogecoin
Be mindful of the intentions people have when they direct you to buy things. None of them are in the spot to be financially advising.
— Dogecoin (@dogecoin) July 8, 2020
Make choices right for you, do not ride other peoples FOMO or manipulation.
Stay safe. Be smart.
❤️ #dogecoin
Lawrence Zlatkin, the Chief tax officer for Coinbase says that the uncertainty about taxation of cryptocurrencies is creating a lot of outflow of funds towards better jurisdictions. Coinbase seems to be planning an expansion beyond the United States according to Zlatkin:
It’s a growth model for us, just where we operate, accessing more customers, being able to trade more assets [...] Generally speaking, the most customers in the space particularly would be from major jurisdictions like Canada, U.K., the EU, and within Asia
Industry
Volvo is investing in a Blockchain startup called Circulor used throughout Volvo Car’s battery supply chain.
The investment in Circulor by Volvo Cars allows both companies to expand their focus beyond cobalt, for example by looking at increasing traceability of mica, a mineral used as isolation material in the battery pack of electric Volvos.
Quote of the day
If [Bitcoin does] not [reach $500.000 by the end of 2020], I will eat my d*ck on national television. – John McAfee
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.