Yesterday, we welcomed the month of September – and it seems like the crypto market did too with its recent gains. After the long downward trend in spite of the Bitcoin ETF rejections, Bitcoin has recovered from below $6,500 to a new high of $7,286, demonstrating strength and going solidly in the green.
As the largest cryptocurrency continues to climb steadily over the $7,000 mark, it also sees 2.72% gains over the past 24 hours, as the data from CoinMarketCap shows.
Even though the US Commodity Futures Trading Commission (CFTC) reported a decline in bearish positions for non-commercial Bitcoin futures contracts, the price of Bitcoin grew just like Ethereum (ETH), which is grazing the $300 price point and trading at $293.72.
However, neither Bitcoin (BTC) nor Ethereum (ETH) can steal the show of the meme-based altcoin Dogecoin (DOGE) which surged by more than 60% in a single week, after it entered Ethereum’s system in a project that is dubbed ‘Dogethereum’ with a demo set to take place on September 5th. Currently, Dogecoin is down 12% but still trading at $0.004992 and correcting with a tremendous incline.
In the top ten coins, Bitcoin Cash (BCH) and Litecoin (LTC) have seen the most greens and are up 14.7% and 8% accordingly. The wave of green is still present, even though there are a couple of declines as we are ending another week – and starting a new month that will (hopefully) bring a lot of good news and positive movements.
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“We’ve gone through the Coinbase listing documents, and they require a lot of structure we don’t have, so at the moment, it’s not on our roadmap. It’s an unfortunate situation that despite cryptocurrencies being designed to be decentralized, being an actually decentralized project seems to confuse a lot of companies in the space. That said, it would be great to see Dogecoin listed, and if we can help Coinbase with this, I’d love to hear from them. Obviously, Dogecoin is in the Coinbase Wallet app, and I’m hoping that’s a good sign.”The Dogecoin developers continued in the cryptonews and noted that the coin has "a fixed inflation rate of 5.256 billion newly created coins each year" saying that this is fundamentally core for the cryptocurrency.
"Many people miss that we’re not founders, and Dogecoin had no pre-mine, so the current developers have had no better opportunity than anyone else to stockpile. What I mean is if we were in this to make money, it would be much easier to work on a cryptocurrency that already has a profit model, than try reinventing Dogecoin,” they continued.It will be very interesting to see what the Dogecoin developers will do in 2020 and how the cryptocurrency will focus on adoption and further popularization.
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