Dogecoin Rallies by 900%
DOGE (Dogecoin), which started as a joke in 2013, became a trending topic after experiencing a significant surge. The coin soared by over 900% this week after a popular Reddit forum set its sights on “Pumping up the currency to the moon. At the time DOGE (Dogecoin) was ranked among the top ten cryptocurrencies for the first time since 2015.
In just two days, the DOGE (Dogecoin) manages to soar from $0.0078 to mark a new record high of $0.078. the new record high is four times its previous record of $0.0185.
The spike has caused a lot of activities in social media platform Twitter recording about 9000 tweets. Elon Musk got in on the action when he tweeted a photo of a fake magazine cover titled “Dogue” instead of “Vogue.”
Notably, the price increase has caused withdrawal complications in some exchanges. Some users have reportedly been experiencing withdrawal issues in significant exchanges like Poloniex, Yobit, Bittrex, and others.
Poloniex posted a statement for its users explain that “We are working to have the wallet re-enabled as soon as possible, but we don’t have an estimate on the timeline at the moment.”
Other exchanges like Binance US also experienced withdrawal issues. The exchange announced that the withdrawal of DOGE (Dogecoin) was suspended for maintenance. Notably, however, deposits were active on the platform.
BSV Delisted Following Craig Wright’s Recent Threats
The Independent Reserve announce this week that an Australian digital assets exchange will delist BSV (bitcoin SV) in terms of debatable behavior by its team.
According to their announcement, the exchange explained that BTC (Bitcoin) is “The People’s Money.” The exchange further explained that Craig Wright’s actions to sue entities hosting the Bitcoin Whitepaper are against the principles of openness and freedom, which are also the founding values of the exchange.
The announcement read in part:
“The behaviour shown by the team behind BSV has been completely countered to these ideals, repeatedly spreading misinformation and making baseless threats against the community. Recent talk of legal action against developers working to improve the Bitcoin ecosystem proved to be the final straw.”
Notable, Wrights claims to be Satoshi Nakamoto has received much resistance from the cryptocurrency community. For Independent Reserve, Wright’s latest threats are “actions of a bully, and they must stop.”
Gemini’s Research: UK’s crypto investor forms 13% of the market
Gemini, a cryptocurrency exchange and custodian recently presented their report on existing and potential crypto investors in the UK market. In the Gemini State of Crypto Report 2021, the exchange found that over 13.5% of the 68 million population has had previous or currently involved in digital assets. Notably, this is 152% up compared to previous studies.
Blair Halliday, the Head of UK at Gemini, explained:
“This new data demonstrates an increasingly diverse base engaging with crypto and indicates how the market is likely to evolve over the longer term. As the industry develops, there are more safe, secure, and regulated platforms available for trading and investing, meaning crypto has never been more accessible.”
In its research, Gemini found that more women are actively engaged with crypto. The data shows that 41% of the current and previous crypto investors in the UK comprise women.
The research also found that it’s not only the rich that are interested in the cryptocurrency market. 91.8% of the current and previous crypto investors record an income of under $136,000.
Additionally, most crypto investors are between the age of 25 to 44 years. Lastly, the research predicts that crypto investor is likely to increase their investments with about 47% planning to invest more. Halliday added:
“We expect the reach of crypto to widen further, particularly as the 9.0% who are interested in crypto enter the market. The sector has a huge opportunity to educate the 38.7% of respondents who either do not know anything at all about crypto or do not know enough to invest.”