It seems like Elon Musk’s favorite cryptocurrency is gaining a momentum as of recently. We are talking about Dogecoin (DOGE) which started off as a meme cryptocurrency inspired by a funny dog photo – to later get accepted as a crypto and today get listed on the veteran cryptocurrency exchange Huobi as part of the latest cryptocurrency news.
What’s important to mention is the recent momentum that Dogecoin experienced. The altcoin has corrected on its BTC peg in the interim. However, this historical surge for the currency is based on a lot of attention as well as it being widely traded and used in many places that also accept Bitcoin, Litecoin and Ethereum such as gambling sites and payment processors.
Facts show that Dogecoin is one of the oldest cryptocurrencies with a reasonable hashrate that has never been offered by Coinbase for sale. As Huobi stated in the announcement introducing the three new pairs:
“In a dedicated effort to provide our customers with carefully vetted and high-quality trading options, we are announcing support for a new addition to the Huobi Marketplace: Dogecoin (DOGE).”
Speaking of, the pairs will include DOGE/BTC, DOGE/ETH, and DOGE/USDT.
For the skeptics out there thinking that this is a joke, it is worth to mention that the team did not announce the news on April fool’s day (when people might have taken them as joke) but actually listed a cryptocurrency which maintains a high degree of liquidity and trading platforms.
Huobi Global (hbg.com) is the eight largest crypto exchange by trading volume at press time. The Dogecoin (DOGE) trading and withdrawals will begin at 7PM PST on April 5 and the first deposits can be made on Huobi.com and HBG.com.
However, Huobi is not the only exchange to offer stablecoin pairs for Dogecoin and enable traders to visualize a fiat value for crypto.
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Deloitte Left Ethereum For VeChain, Made 20+ Smart Contracts Per Second
‘’We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain – we managed to execute 20+ smart contract transactions per second.’’Deloitte left Ethereum a week ago after the company explained they will be moving onto VeChain. Also, BMW joined the VeChain network as well and the transaction news comes after the announcement by Jaguar Land Rover where they also announced utilizing the IOTA blockchain as a crypto solution. Many significant companies are starting to build on less-popular platforms such as VeChain, EOS, and Tron. VeChain is an enterprise-ready solution as per their description. VeChain managed to process about 396,000 transactions on Sunday compared to Bitcoin’s 359,000. As per the best cryptocurrency news sites, the total value of VeChain transactions is less than the one transferred to bitcoin. The price of VET is currently at $0.006417 with about $11.5 million in trading volume for the past 24 hours. Smart contract platforms such as Ethereum require a small amount of the token base to execute transactions. The news is interesting since only one company was able to push the transactions of VeChain ahead of Bitcoin. You can only imagine what could happen if 20 more companies did the same. It also sparks the question of providing a scaling solution for the most valuable blockchain. The limited capacity of the BTC blockchain asks the question how big of a role will scaling solutions play down the road. VeChain processed fewer transactions than Tron and EOS on Saturday since both of the blockchain process millions of transactions daily. The demand for the VET token is generated organically when large partnerships happen. Companies are then willing to demand tokens in order to conduct their daily businesses. On the other hand, VeChain is seen as an enterprise alternative for the products but it still flies under the radar given its trading activity and price.
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