The price of Dogecoin, which is a relatively new cryptocurrency that was created as a spin-off from a popular meme, recently rose by more than 30% against the price of the US dollar. However, the growth was initiated earlier, and it is safe to say that Dogecoin has surged by more than 60% in the past few days.
From 0.00246, Dogecoin jumped sharply to 0.00324-fiat, which is precisely 31% in a strong buying spree. The uptrend later matured and the DOGE/USD is now retesting the mid-July peak of 0.00420-fiat.
The main reason behind the impressive surge is speculated to be the integration into the Ethereum project, which will see Dogecoin joining the second largest cryptocurrency project by market cap.
Launched as a joke, the ‘meme currency’ is attempting to keep up with the crypto universe by launching Dogethereneum, which will be the amalgamation of Dogecoin and Ethereum. As a project, it will enable transfers of tokens between the two blockchains.
Currently, the buying sentiment for Dogecoin has strong fundamentals behind it. According to analysts, the 0.00420 is a strong level to break – but one that is the target for the cryptocurrency. If Dogecoin does not break this level, it will eventually stabilize at a support level in the 0.00376-0.00382 area.
Justin Sun Proves Crypto Is Not A Scam By Hiring A Former SEC Official
“We’re ready to fully embrace regulation here. We’ve just hired our first head of compliance, who previously worked for the SEC for almost eight years.”TRON’s founder wants to make sure that TRON is fully regulated in the United States but also Korea and Japan. He made a point that Blockchain is a like a new operating system and that the worlds need to embrace it and be more optimistic towards regulation. He continued saying:
‘’The SEC, I think also sees the blockchain as good opportunity for innovation in the United States. I’m hoping that this year the SEC will license and regulate coin-based exchanges. This year will be the year of full regulation.’’One of the ways that Sun can make blockchain mainstream is by launching the BitTorrent Token on the Binance Launchapd. BitTorrent is a file sharing protocol that serves 100 million users in more than 130 countries. Sun acquired BitTorrent for $126 million last year. However, former chief strategy officer Simon Morris of BitTorrent said that there is no possible way for the TRON blockchain to be able to handle the transactions conducted on BitTorrent’s network but at the end, he ended up being dismissed as an incompetent employee.
UN Thinks Bitcoin & Crypto Are “The New Frontiers” In Finance, Focusing On Ripple And IOTa
“Cryptocurrencies represent a new frontier in digital finance and their popularity is growing. The decentralized networks for cryptocurrencies, bitcoin being a well-known example, can keep track of digital transactions. They enable value to be exchanged and can give rise to new business models which would otherwise require significant regulatory and institutional commitments." the report states.According to the UN, blockchain and crypto have many use cases. As it is explained in the document:
"For example, a value token called ClimateCoin is being considered as a basis for creating a global market for carbon emissions, allowing peer-to-peer exchange of carbon credits and a direct connection with the Internet of Things. It would then be possible for devices to calculate their own carbon emissions and purchase carbon credits to offset those emissions."The document also focuses on innovation and how it comes from inherent trust, citing that "the innovativeness of this system lies in the way in which the various parts combine to create the trust and guarantees that the traditional financial system derives from institutions and regulation."
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