Category: News

Following shiba inu’s 260% gains during the last 30 days, the third-largest meme-based crypto asset in terms of market capitalization, baby doge coin (BABYDOGE), has taken the lead in terms of market performance. Another meme asset, dogelon mars (ELON) has soared 286% this past week. Moreover, during the last seven days, baby doge coin’s price spiked 40% in value and over 3.4% in the last 24 hours. This Past Week Dogelon Mars and Baby Doge Coin Soared in Value While bitcoin (BTC) has spiked over the $60K zone and currently rests above $62K per unit, a number of other crypto-assets have followed the leading digital currency’s rise. The original and popular meme-based crypto-asset dogecoin (DOGE) has increased in value 6.4% during the last week, but two other meme cryptos have skyrocketed in recent times. Coingecko’s Top Meme Crypto Assets in terms of market capitalization on Tuesday, October 19, 2021. As far as the top meme-based crypto assets, in terms of market capitalization, two unique tokens have seen massive gains. The spikes in value follow the second-largest meme-based crypto shiba inu’s (SHIB) significant rise a week and a half ago. The first-largest mover as far as meme currencies are concerned is dogelon mars (ELON), which has increased by 73.6% in the last 24 hours. Weekly stats show ELON is up a whopping 314.8% in value and the crypto asset trades for way less than a U.S. penny at $0.000000619134 per unit. While dogelon has made it to the third-largest market cap in terms of meme-based crypto assets, ELON’s cap is only $332 million. That’s a far cry from SHIB’s $14 billion market valuation and DOGE’s $32.5 billion. Baby Doge Moves Up the Ladder to the 4th Largest Meme Currency Market Cap On August 28, 2021, coingecko’s “Top Meme Tokens” by market cap indicated that dogelon mars held the eighth largest market position. Today, dogelon mars is holding the third spot, but by only $12 million, as the crypto asset baby doge coin (BABYDOGE) has captured the fourth position with $310 million. Baby doge coin (BABYDOGE) vs. tether (USDT) on October 19, 2021. BABYDOGE is up 40% this past week and over 3.4% during the last day. Just like ELON, the crypto asset baby doge coin is also trading for less than a U.S. penny. At the time of writing, BABYDOGE is swapping for $0.000000001700 per coin and during the last day, it saw $9,062,901 in 24-hour trade volume. Meanwhile, SHIB has dropped 6.8% this past week and DOGE is down 3.0% over the last 24 hours. As far as market performance is concerned, dogelon mars and baby doge coin are outshining their predecessors. What do you think about dogelon mars and baby doge coin spiking in value during the last week? Let us know your thoughts about this subject in the comments section below.

The chief executive officer of global investment bank Morgan Stanley says that cryptocurrency, including bitcoin, is not a fad. Noting that they are not going to go away, he said: “We’re watchful of it, we’re respectful, and we’ll wait and see how the regulators handle it.” Morgan Stanley’s CEO Says Bitcoin and Crypto Aren’t Going Away Morgan Stanley CEO James Gorman talked about bitcoin and cryptocurrency during the bank’s third-quarter earnings call with analysts Thursday morning. Emphasizing that crypto is not going to go away, he said: I’ve said it publicly before, I’ll say it again. I don’t think crypto’s a fad. I don’t know what the value of bitcoin should or shouldn’t be, but these things aren’t going away. He added: “The blockchain technology supporting it is obviously very real and powerful.” Morgan Stanley was among the first major banks to embrace bitcoin. In March, the bank revealed that it had begun offering bitcoin funds to clients. In April, the bank added bitcoin to 12 mutual funds’ investment strategies. The global investment bank launched a dedicated cryptocurrency research team in September, led by Sheena Shah, the firm’s crypto analyst. “The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets,” the bank explained. The Morgan Stanley executive explained during the earnings call, “We’re not directly trading crypto for retail clients,” adding that “there are other players who are choosing to do that.” He clarified, “We give access to them to buy crypto through various funds and things.” He further detailed that crypto is currently not a big part of the bank’s business but said it could grow in the future. “For us, honestly, it’s just not a huge part of the business demand from our clients. And that may evolve and we’ll evolve with it,” he opined, elaborating: We’re watchful of it, we’re respectful, and we’ll wait and see how the regulators handle it. Do you agree with Morgan Stanley’s CEO about bitcoin and crypto? Let us know in the comments section below.

The National Police have issued a warning for a wave of cryptocurrency-related investment scams in Spain. The amount that has been lost in these kinds of investments recently is €240,000 related to just two complaints. However, there has been a rise in the complaints presented by citizens due to the popularity that these financial instruments are experiencing now. National Police Warn About Crypto Scams in Spain The National Police of Spain has issued a warning to citizens about the rise of cryptocurrency-related scams in the last few days. In the two more recent complaints the national police have received alone, crypto investors have lost €240,000 (~$278,385). These two complaints stem from the city of Navarra. This happens because the market is flooded with companies that offer cryptocurrency investment opportunities guaranteeing a high level of returns. But to guarantee these returns, the companies ask for high amounts of money as an investment. Many of these companies have profiles on social media with thousands of followers, giving an impression of legitimacy to these investors. They manage to entice investors to put money in these platforms, and then, for a time, their digital platforms show a supposed growth in the capital invested. But when investors try to withdraw these funds, they find that it is impossible to do so. These platforms then ask for huge sums of money to withdraw funds and that is when users know they have been scammed. How to Avoid Being the Victim of a Scam The National Police gave a series of recommendations to avoid being the victim of an investment scam. First, it recommended potential investors do research on the background of the company or platform they are trusting with their funds. Users should be sure these companies are solvent, and that they are not mentioned in any alert issued by authorities on investment platforms. However, if investors find themselves caught in a potential scam, police recommend filing a complaint with the authorities quickly. The police explained that “The immediacy in the detection of the crime committed facilitates its investigation.” Spain has not been a stranger to the recent cryptocurrency boom. Local media reported that tribunals were being flooded with crypto-related cases last June. But the crypto fever has not permeated to the highest spheres of investing. As of May, the biggest asset managers in Spain were still reluctant about investing in crypto. What do you think about the National Police warning of cryptocurrency investment scams in Spain? Tell us in the comments section below.

National Bank of Ukraine is hiring a blockchain expert who will likely support its digital currency project. The vacancy has been announced as the financial institution prepares to pilot e-hryvnia salary payments for government workers as early as this year. NBU Posts Blockchain Developer Ad on Linkedin The central bank of Ukraine is looking to employ a blockchain developer with promises of career growth opportunities and a private sector salary. A job posting describing the role’s responsibilities and the benefits candidates may expect has been recently published on Linkedin by the bank’s IT director, Vladimir Nagornyuk. The blockchain specialist is expected to participate in the “development, implementation and refinement of infrastructure services, highly accessible distributed systems and services (Hyperledger),” the ad details. The future hire will focus on the design and development of microservices and integration solutions, development of smart contracts, registers, and architectural solutions. According to Nagornyuk’s post, quoted by Forklog, the National Bank of Ukraine (NBU) offers “opportunities for professional development in a stable and transparent organization” and “market level remuneration” with performance-based bonuses. A corporate pension plan and flexible working hours are also part of the benefits. The monetary authority says it will provide its blockchain expert with access to training courses and an “opportunity to be involved in the development of the country.” This indicates that the person occupying the position is likely to join the regulator’s project to create its own central bank digital currency (CBDC). The e-hryvnia project has been in the works for several years now. New legislation opening the door for its issuance, the law “On Payment Services,” was adopted by the Ukrainian parliament in June, and later signed by President Volodymyr Zelensky. The bill grants the NBU powers to mint a digital version of the sovereign fiat currency. A survey conducted among financial professionals this year showed that the industry favors a blockchain design for the digital hryvnia that would allow peer-to-peer transfers, fuel e-commerce, and be used to facilitate transactions in the crypto space. The central bank stated that the application of its CBDC in the virtual assets sector is worth further research. Meanwhile, Ukraine’s Ministry of Digital Transformation revealed in August that it plans to use the electronic hryvnia to pay its employees once the coin is available for testing. According to a recent statement by Arsen Makarchuk, head of the NBU Strategy and Development Department, a pilot project to do so may be launched by the end of the year.

On Thursday, the pseudonymous operator of Bitcoin.org told the public on Twitter that the web portal has been “compromised.” The operator, Cobra, explained that the hackers were able to implement a bitcoin doubler scam model and stressed that the site would be down for a “few days. Website Operator Cobra Warns Bitcoin.org Has Been Compromised The mysterious operator of the web portal Bitcoin.org, Cobra, is once again surrounded by controversy. According to the pseudonymous operator of the website, Bitcoin.org has been attacked. “Bitcoin.org has been compromised,” Cobra tweeted early Thursday morning (EST). “[I am] currently looking into how the hackers put up the scam model on the site. May be down for a few days.” The scam model Cobra speaks of is a doubler scam that attempts to entice people to deposit a fraction of bitcoin with the promise of doubling the deposit. Of course, victims who deposit funds into the doubler scam never get the double reward, as the hackers simply take all the funds after they have accumulated to something worthwhile. According to one account, the scammers were able to get $17,000 in bitcoin (BTC) while the phony page was online. Some have said that the scam wallet did not make as much money as the website displayed. “For context, 3 people have sent $100, 1 person has sent around $200, the rest(0.4 BTC) seems to have been sent as a way to make the ‘giveaway’ seem legitimate, so likely [a] scammer’s own coins,” one individual mentioned.   Attack Seems to Be DNS Hijack, Cobra Complains to Cloudflare   The operator behind the website nuke.asia said that the takeover was most likely “social engineering.” “It appears the domain was taken over,” Charles from nuke.asia said. “The WHOIS info was updated at the time of the hack, the nameservers + DNS changed, and if you try to visit any of the actual pages other than the index you’ll get a 404. It’s a completely different website save for the domain name.” Meanwhile, Cobra has also been tweeting to the company Cloudflare for assistance. “Bitcoin.org hasn’t been hacked, ever. And then we move to Cloudflare, and two months later we get hacked. Can you explain where you were routing my traffic too? Because my actual server didn’t get any traffic during [the] hack. @Cloudflare @eastdakota,” Cobra said. Then someone asked Cobra if his accounts were compromised. Cobra stressed: Nope, nothing. None of my accounts seem compromised. Server is fine too (it wasn’t even getting traffic during the hack). The attackers just seem to have exploited some flaw in the DNS.  

The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations of crypto businesses.   Ukraine Legalizes Crypto Activities, Defines Virtual Assets Ukraine’s Verkhovna Rada, the country’s parliament, has adopted the law “On Virtual Assets” on second and final reading. The legislation regulates operations with cryptocurrencies in the Ukrainian jurisdiction. Deputies passed the bill with a large majority of 276 votes out of 376 present MPs, with only six voting against the motion.   The long-awaited law will enter into force after lawmakers approve amendments to the country’s tax code pertaining to the taxation of cryptocurrency transactions. The Ukrainian legislature is yet to vote on these changes, Forklog noted in its report on the development. Provisions of the new law recognize virtual assets as intangible goods, which can be secured and unsecured. However, cryptocurrencies are not accepted as a legal means of payment in Ukraine and their exchange for other goods or services will not be allowed. The law also introduces the term “financial virtual assets” that must be issued by entities registered in Ukraine. In case these assets are backed by currencies, they will be regulated by the National Bank of Ukraine (NBU), the country’s central bank. If the underlying asset is a security or a derivative, the National Securities and Stock Market Commission (NSSMC) will be the main regulator. Crypto market participants will be able to independently determine the value of virtual assets, open bank accounts to settle transactions, and seek judicial protection for associated rights. Service providers are required to abide by the country’s anti-money laundering regulations and prevent attempts to finance terrorism using their platforms, just like traditional financial institutions. Current Ukrainian authorities have maintained a positive attitude towards the country’s growing crypto industry, confirmed by representatives of the executive power this week. During a visit to the U.S., President Volodymyr Zelensky highlighted the importance of launching a legal digital assets market which he described as a “development vector” of the nation’s digital economy. Ukraine’s Minister of Digital Transformation, Mykhailo Fedorov, added the country is working to become an attractive jurisdiction for crypto companies. The draft law “On Virtual Assets” was voted on first reading in the Rada last December. After introducing a number of changes, lawmakers presented a revised version of the document in June of this year. Following criticism from various regulators, including NBU and NSSMC, the bill was once again amended with the authors taking into account concerns expressed by other government institutions.   Do you think Ukraine’s business climate will improve for crypto companies following the adoption of the virtual assets law? Share your expectations in the comments section below.

In 2021, meme-based crypto assets skyrocketed in value following the lead of the original meme crypto-asset dogecoin’s massive gains. This week a great number of digital currencies have rebounded in price but a slew of popular meme tokens are not doing so hot this week. However, one specific meme-crypto called “cake monster” has jumped 112% in value during the last 24 hours. Dogecoin and Shiba Inu Markets Have Seen Better Days Bitcoin.com has covered a wide variety of meme-based cryptocurrencies that followed the ‘Dogefather’s’ 8,818% one-year gains. Doge has seen a triumphant rise in 2021 thanks to mainstream media coverage and shoutouts from the Tesla CEO Elon Musk. Doge has gained 36.5% during the last month, but dogecoin is down 13% over the course of the week. At the time of writing, a single DOGE is swapping for $0.284508 per unit. Another meme-asset that took the crypto world by storm is Shiba inu SHIB as it has outpaced dogecoin’s gains gathering a whopping 8,750,740% in less than 12 months. But just like Doge, SHIB is down 14.8% during the last seven days. SHIB has only gained 16.6% during the last 30 days and at the time of writing a single SHIB exchanges hands for $0.00000721 per token.   Cake Monster Performance Outshines All the Meme Token Markets Those two crypto assets are the largest meme-based cryptos in terms of market capitalization as DOGE has a $37 billion market valuation and SHIB has a ​​$3.5 billion capitalization.    

Brazil and Argentina are present in the recently issued “Chainalysis Global Defi Adoption Index,” which measures how much a country is immersed in decentralized finance markets. These two countries occupy ranks 17 and 16 on a worldwide level. The index takes several factors into consideration and found that in contrast with the current cryptocurrency adoption index, defi is dominated by big investors seeking alpha opportunities in new markets. Brazil and Argentina Top Latam Defi Adopters Brazil and Argentina, two of the most developed economies in Latam, are present in Chainalysis’ defi adoption index. The new report seeks to quantify and locate the countries where decentralized finance (defi) technologies have penetrated the most. The two nations occupy 17th (Brazil) and 16th (Argentina) places in the top 20 countries with the most defi adoption. Chainalysis’s blog post explains that this index takes three factors into consideration, ranking 154 countries in each of these categories. These three factors are on-chain cryptocurrency value received by defi platforms weighted by PPP (purchasing power parity) per capita, the total retail value received by defi platforms, and individual deposits to defi platforms. The first country in the index is the U.S., followed by Vietnam, Thailand, China, and the U.K.  

The host of CNBC’s “Mad Money” show, Jim Cramer, has recommended putting up to 5% of portfolios in cryptocurrency. Stating that he owns ethereum directly, Cramer affirmed that he is a believer in crypto. Jim Cramer’s Crypto Allocation Advice Mad Money host Jim Cramer shared his view on cryptocurrency investing Wednesday during his show’s “lighting round,” where he answered investment questions at rapid speed. A former hedge fund manager, Cramer co-founded Thestreet.com, a financial news and literacy website. He was asked whether long-term individual investors should have some portfolio allocations in cryptocurrency. He was also asked if the Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN) was a good way to gain cryptocurrency exposure. The Mad Money host opined: “I think Coinbase is inexpensive. I don’t really care for management because I think they let out a lot of stock when they started. I was against that. They should’ve been buyers, not sellers.” He continued: “I think the listing went very, very poorly. I think the company is the … natural repository of crypto.” As for whether investors should have cryptocurrency in their portfolios, he said, “I own ethereum directly,” adding: "I think you should have up to 5% of your portfolio in crypto. I am a believer in crypto".

The price of bitcoin has reached a value not seen since May 15 and a number of traders and analysts believe the market will see a double top. The scenario where bitcoin rises above the $64K all-time high (ATH) and spikes to another ATH after a long and bearish technical reversal pattern.