Data shows it’s Bitcoin’s jet fuel

During an interview with Bloomberg TV on May 3, Binance CEO Changpeng Zhao suggested that Bitcoin (BTC) “is probably less volatile” than the stock prices of Apple (AAPL) and Tesla (TSLA). Zhao argued that crypto’s volatility was not unlike the stock market, adding: that “volatility is everywhere” and that “it is not unique to crypto.” However, those involved in cryptocurrency trading probably know that cryptocurrency prices fluctuate a lot more than listed trillion-dollar companies. This begs one to question whether or not Zhao is detecting a trend that some may…

Literally to the moon — SpaceX payload funded by DOGE plans to reach lunar orbit in 2022

Canada-based manufacturing and logistics firm Geometric Energy Corporation will be launching a Dogecoin-funded payload on one of SpaceX’s first rockets to the moon. In a Sunday announcement from Geometric Energy Corporation, the company said its commercial satellite could be traveling to the moon as early as the first quarter of 2022 aboard the SpaceX Falcon 9 launch vehicle. Weighing 40 kilograms — roughly 88 pounds — the payload is designed to “obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.” “Having officially transacted with DOGE…

Elongate and Munch raise millions for various causes

Two unrelated cryptocurrency projects have collectively raised over $3 million for charitable contributions this month, underscoring the potential of digital assets in aiding mission-based non-profits around the world.  Elongate, a cryptocurrency project that began as a parody of Elon Musk’s reference to the Watergate scandal, has raised $2 million for various food and general support programs via Human Relief Foundation and Give India. The latter is a Covid-19 relief effort in the South Asian country in the wake of a devastating spike in new infections. Some of the biggest Elongate…

BTC, BNB, ADA, LTC, LINK

Over the past week, several traders bought Dogecoin (DOGE) leading up to Elon Musk’s Saturday Night Live appearance as they expected a pump. However, the mention of Dogecoin during the monologue by Musk did not produce the rally traders were looking for and professional traders may have dumped their positions on novice traders who were expecting a breakout.  Dogecoin dumped to an intraday low at $0.41 today, losing over 34% from the previous day’s close. Since then, the meme coin has been trying to stage a recovery and has risen…

‘Dogefather’ Elon Musk jokingly calls token a hustle as price falls under $0.50

Meme-based cryptocurrency Dogecoin, often pushed by Elon Musk on Twitter, got its moment during the Tesla CEO’s appearance on Saturday Night Live, but the shoutouts didn’t drive the price to the moon. During his opening monologue on the comedy show, Maye Musk jokingly told her son she hoped she wouldn’t be receiving any Dogecoin (DOGE) as part of her Mother’s Day gift that weekend. Though the initial mention received its share of laughs from the live audience, Musk’s appearance as “financial expert” Lloyd Ostertag on Saturday Night Live’s Weekend Update…

Cardano smashes new all-time high following 14% gain

Cardano’s ADA cryptocurrency surged on Sunday, bringing the smart contract platform back into elite territory in terms of market capitalization rankings.  ADA charted 14% growth to reach $1.83 on major exchanges, marking a new all-time high. It was last seen hovering just below $1.80, having gained 14% on the day, 31% on the week and over 47% in the past month. At current values, Cardano has a market cap of $57.8 billion, flipping Tether (USDT) for sixth spot on the market leaderboard, according to Coingecko. Cardano’s market ranking could be…

The Ethereum blockchain is the new San Francisco

Remember the “Silicon Valley Tech Bubble”? In the early- to mid-2000s, the San Francisco Bay Area gave birth to some of the most storied and successful technology companies the world has ever seen. Facebook, Google, Salesforce, Twitter, Tesla, Lyft — the list itself could take up half of this article. From the palpable energy to the networking potential, one thing was certain: San Francisco was the place to be. For many, present-day San Francisco has lost its allure. Across the city, the cost of living continues to surge. The remaining…

Stablecoins present new dilemmas for regulators as mass adoption looms

Stablecoins present peculiar challenges to regulators. Although there is no single, agreed-upon definition of a stablecoin, the common denominator of the commonly used definitions is that stablecoins are designed to maintain a stable value in relation to a specified currency, asset or pool of such currencies/assets. They are contrasted with regular cryptocurrencies, which have no such stability mechanism and whose values tend to fluctuate, sometimes even substantially.  Related: All risk, no gain? The vague definition of stablecoins is causing problems Stablecoins do not denote a uniform category but represent a…

AMMs push for an industrial revolution in trading

Centralized exchanges play an important role in the cryptocurrency industry. While their decentralized exchange counterparts have been growing in popularity and usage since 2020, the overwhelming majority of crypto trading volume is still concentrated on centralized exchanges.  The supremacy of CEXs can be clearly observed in the size and popularity of trading platforms like Binance and Coinbase, which are now so recognizable and mainstream that Coinbase has recently become the first crypto company to be listed on the Nasdaq stock exchange. Acting as a necessary bridge between fiat and crypto,…

GameStop saga paves the way for a new decentralized financial order

Every significant transformation comes with a new toolset, one that is always surprising at the time and obvious in hindsight. Bitcoin (BTC), climate change and GameStop are all examples of ways in which mass action is pushing for dramatic, not evolutionary, action. We can also see that these are individual vectors of the same movement, highlighting the inefficient parts of the legacy system and the solutions driven by an aggregation of individuals with a collective belief. What is so striking, but not unexpected, is that some of these events highlighted…