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How tech beyond Wall Street's control pushed big money to embrace once-fringe crowds, from crypto to meme stocks
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The hyper deflation payment network token has caused ripples in the crypto world and continues doing well on top of all this.
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Developed in 2012 by Toronto-based programmer Vitalik Buterin, and backed by an initial $18 million crowdfund, Ether (ETH) is a cryptocurrency that underpins a blockchain network called Ethereum. While Bitcoin was designed to be a digital currency, Ethereum is a more general implementation of blockchain technology.
Although the hype around this coin isn’t as much as it was at some point, it is still a strong digital coin that’s attracting several investors. While cryptocurrencies such as Bitcoin have limited coin supply, Dogecoin doesn’t have limits. As a result, something that started is now a cryptocurrency with several supporters and investors, including celebrities and billionaires, notably Elon Musk.
Binance currently lists 150 coins and tokens. Binance.US has said it is considering 30 assets to list initially. In a blog post last week, Coley acknowledged that "the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse," and that the company recognizes it has legal and moral obligations to protect its users.
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From a meme coin perspective, DogeZilla appears in a way to throw shade at Dogecoin in the sense that it’s the Godzilla of the meme coin.
The 2-year-old exchange, already the largest in the world by volume, revealed in June that it would stop serving U.S. customers on September 12 as it plans to formally enter the American market with a regulated fiat-to-crypto exchange.
So far, the main thing that has driven Safemoon has been the hype generated by celebrity backing. Celebrities such as Jake Paul, Afrojack, and Keemstar have also promoted the coin this year, leading to significant price increases.
It was a wild ride for SafeMoon, with its prices exploding in the first few weeks before crashing down.
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NEW YORK (AP) — Bitcoin's price surged again Monday after speculation that Amazon may be entering the cryptocurrency sector after it posted a job seeking a “digital currency and blockchain product lead.”
Bitcoin’s bullish price rise to near $70,000 in value comes as investors hope to see the $1 trillion market cap remain firmly in place ahead of a volatile trading period.
"In fact, open pump and dump schemes are rampant in the crypto world, with investors often jumping in with eyes wide open, perhaps hoping that they can ride the wave and dump their holdings for a quick profit before prices collapse," he said.