There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK. Cryptocurrency was one of the first subjects he specialized in when first going freelance in 2018, reviewing exchanges and analysing lawsuits. Axie Infinity (AXS) Retests Previous All-Time High as EOS Finally Climbs – Multi Coin Analysis SEC Halts Crypto Token Registration for Wyoming DAO Serum (SRM) Bounces at Support And Breaks Out From Short-Term Pattern NFT Exhibition in Singapore Blending Crypto Art and Cuisine Bitcoin (BTC) Bounces Back After Dumping Nearly 10% Most Read Markets News Report Shiba Inu Dog Purchases Becoming Popular on the Back of SHIB Crypto Popularity Press Releases Finnovex West Africa 2021: Post Event Roundup Red Bull F1 Completes Limited-Edition NFT Collection Solana’s (SOL) Phantom Wallet Hits One Million Active Users, SOL Also Reaches New All-Time High Medabots Takes the Blockchain Route – Medachain Is Coming Soon Policy Reform Required as Swedish Director Generals Look to Ban Proof-of-Work Mining
This breakout happened in the recent weekend and consequently the uptrend resumed and Bitcoin is now on way to challenge its previous life high yet again.
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Speculators in the crypto community continue to describe Brooks move as a stepdown, however, in terms of company size and brand awareness in the crypto space considering his office as CEO of Binance US previously.
At the time of writing this review, Binance.US has supported seven cryptocurrencies, including:
Binance is a centralized cryptocurrency exchange founded in 2017 by Changpeng Zhao. Zhao’s professional experience before that point was in the development of advanced financial software, such as high-frequency trading software. He also served in an executive position at another cryptocurrency exchange, OKCoin.
The value of cryptocurrency is also driven by scarcity. This alludes to the cryptocurrency’s finite mechanism. The Bitcoin protocol sets the maximum amount of BTC that can be mined at 21 million. Therefore, as more people enter the crypto space, Bitcoin’s scarcity will inevitably increase, causing its price to increase. Some coins also use the burning mechanism to increase their value by destroying a portion of the supply.
"Play-to-earn" cryptocurrency is where people buy tokens to use in online games and can earn more tokens which can later be exchanged for other cryptocurrencies or national currencies.
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Its market cap and individual unit value consistently dwarf (by a factor of 10 or more) that of the next most popular cryptocurrency. Bitcoin has a programmed supply limit of 21 million Bitcoin.
Although CZ is the leader of Binance, he is not in charge of running Binance.US. In fact, in April 2021, Binance.US announced that it hired Brian Brook as its CEO. Brian Brooks is a former Coinbase executive who also served as Donald Trump’s Acting Comptroller of the Currency.
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A NEWLY launched cryptocurrency DogeZilla has exploded out of the gate – and some are wondering if this will be the next meme coin of preference.
Baker, M. and J. Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, The Journal of Finance 61 (4), 1645–1680.