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A $1,000 Investment in Dogecoin a Year Ago Would Be Worth Nearly $85,000 Today

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Doge and Ethereum -Investors King

Cryptocurrency adoption continues to grow in 2021, with more than 300 million crypto users worldwide and 18,000 businesses already accepting crypto payments. Although Bitcoin and Ethereum, as the world’s largest digital coins, still hold the biggest ownership rates in the crypto space, Dogecoin climbed high on the list of the most popular crypto investments, with an impressive investment return.

A recent data presented showed a $1,000 investment in Dogecoin a year ago would be worth nearly $85,000 today.

Dogecoin’s Price Jumped 45 Times in 2021

The meme-inspired digital coin came a long way since its beginnings in 2013. What started as a joke between the two IBM engineers became the world’s tenth-largest cryptocurrency, with a market cap of around $30bn as of this week.

Dogecoin’s recent price surge drew a lot of intention in the crypto space, making it the third most popular crypto to own in 2021 behind Bitcoin and Ethereum, both in the United States and the United Kingdom.

Assuming an investor bought $1,000 worth of DOGE coins tokens on September 20, 2020, they would have picked up 380,228 coins priced at around $0.0026.

However, the price of the original meme coin has exploded since then. Between January and March, it soared by nearly 1,000% to $0.054 and continued rising. Finally, on May 8, it hit an all-time high of $0.73, turning that $1,000 investment into almost $280,000.

Although Dogecoin’s price has dropped significantly since then, reaching around $0.22 this week, that is still 45 times more than in January.

Market Cap Surged by 4,700% YTD, 13x Bigger Increase than Ethereum

Besides becoming one of the most popular cryptos to own, Dogecoin was also the second fastest growing digital coin in the crypto space this year, behind Solana.

In January, the combined value of all DOGE coins in circulation amounted to around $1.1bn. However, after the tweets from Elon Musk and Snoop Dogg about the coin, this figure surged to $6.5bn the next month.

On May 8, Dogecoin’s market cap hit an all-time high of $93.5bn and then stumbled to $35.7bn in just three weeks after the crypto price crash. The CoinMarketCap data showed the combined value of all DOGE coins slipped to around $30bn this week, still a massive 4,700% increase YTD, and 13 times more than the growth rate of Ethereum in this period.

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Cryptocurrency

Solana – a Bitcoin Rival – Will Hit New All-time Highs This Year

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Solana - Investors King

Bitcoin rival Solana will hit new all-time highs of $250 by the end of 2021, predicts the boss of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The bullish forecast from Nigel Green, founder and CEO of deVere Group, which has $12bn under advisement, comes as the price of Solana (SOL) has jumped 25% in two days amid a buoyant week for other cryptocurrencies, including Bitcoin which hit a fresh record high on Wednesday of more than $66,000.

Currently, at the time of writing, Solana is $208.  Its previous price high was $214 reached in September this year.

Mr Green says: “Solana is certainly a rising star of crypto. With its price skyrocketing more than 100 times since the beginning of the year, its potential is becoming impossible to ignore.

“I believe that its bull market run will continue for the rest of this quarter and that it will hit new all-time highs of $250 by the end of 2021.”

The deVere boss and high-profile crypto advocate predicted in July that Bitcoin would surpass its previous all-time high this year – which was proven right this week. Similarly, he recently nailed his forecast that Cardano would hit $3.

He comments: “Solana has smashed past some key resistance levels in recent weeks, indicating that investors aren’t worried about squeezes to the downside.

“It’s gaining momentum and, as a result, a growing number of active holders. There’s no reason to expect this to slow considerably before the end of the year.”

Solana is a decentralised blockchain that gives developers a cutting-edge platform to create infinitely scalable DeFi apps and enable staking.

“The DeFi sector is about to explode due to the inherent real-world value it can offer almost every sector.

“Investors are increasingly understanding the network’s value not only as a platform for developers but as a worldwide financial utility.”

Mr Green concludes: “Solana is set to quietly outperform the rest of the crypto market this year.  It’s one to watch.”

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Cryptocurrency

Ripple CEO Says The SEC Helped Ethereum to Overtake XRP As No.2 Crypto

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Ripple CEO Brad Garlinghouse- Investorsking

Ripple chief executive Brad Garlinghouse has been airing his thoughts over the state of the crypto market and regulations, and a grudge over the financial regulator’s approach to Ethereum appears to have surfaced.

Speaking at the DC Fintech Week virtual conference on Oct. 21, the Ripple boss declared that Ethereum had been granted a regulatory green light that enabled it to surpass his company’s XRP token.

The U.S. Securities and Exchange Commission has been pursuing Ripple over claims that XRP is an unregistered security. In January, Ripple filed a Freedom of Information Act request with the SEC demanding to know why it didn’t consider ETH a security. Six months later in July, a district judge allowed the company to depose a former SEC official who declared in 2018 that ETH was not a security.

Garlinghouse clearly feels that his firm has been hard done by and Ethereum’s subsequent success is at least in part down to more favorable treatment by the SEC. He stated that it is affecting the market, adding: “Within the last few years, XRP was the second most valuable digital asset. As it became clear the SEC had given a hall pass to ETH, ETH obviously has kind of exploded and that clarity has helped.”

XRP was the second largest crypto asset by market capitalization in late December 2017. It has currently slipped to seventh place while Ethereum has held the second spot ever since.

Garlinghouse also stated that the SEC has been taking an aggressive posture against crypto with recent actions against his own company and Coinbase. Commenting on Ripple’s battle with the financial regulator, he said that the SEC claims to be protecting consumers but:

“You have nearly 50,000 U.S. people who hold XRP who are trying to sue the SEC for ‘protecting them’.”
Earlier this month a U.S. district judge ruled that individuals holding the company’s XRP token could not participate as defendants in the lawsuit.

The SEC’s request to extend the deadline to complete discovery in its ongoing lawsuit with Ripple Labs and its executives has been granted and pushed to Jan. 14, 2022.

Ripple claims that any further delay in resolving this case will “cause serious harm to the interests of the defendants and XRP holders.”

The court acknowledged this but stated that the “additional time sought by the SEC will not affect the schedule to resolve the case.”

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Bitcoin

Bitcoin´s New All-time High Underscores its Mainstream Value

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Bitcoin-Investors King

Bitcoin is undeniably a mainstream asset class and most investors should consider including crypto assets as part of a diversified portfolio, asserts the boss of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The bullish observation from Nigel Green, CEO and founder of deVere Group, which has $12bn under advisement, comes as the world’s dominant cryptocurrency hits a new all-time high of more than $66,000 on Wednesday.

Mr Green notes: “In July, we publicly predicted that Bitcoin would reach and most likely beat it’s previous all-time highs.

“I am confident that whilst there might be some profit-taking in the near-term, so that investors can accumulate more later, the momentum is such that we can expect prices to continue on their upward trajectory.”

He continues: “This fresh all-time high deniably cements Bitcoin as a mainstream asset class.  I believe that most investors should consider including crypto assets as part of a diversified portfolio.

“Why? Because crypto is the inevitable future of money and there is clearly going to be advantages for those investors who have exposure early on – in the same way as those who invested in the major internet, online and tech successes back in the day, such as Amazon, Google and Apple, have secured enormous returns.”

Wednesday´s price highs come as the ProShares Bitcoin Strategy ETF – the first of its kind – launched on the New York Stock Exchange on Tuesday at the opening bell.

The deVere CEO says there are there are five main factors that will secure the longer-term upward price trajectory.

“First is the U.S. Federal Reserve saying it has no intention of banning cryptocurrencies. It’s highly probable that other cryptocurrencies will have more stringent regulatory oversight, yet Bitcoin could be viewed differently by authorities partly due to its gold-like status,” he observes.

“Second is the ongoing, mounting interest from institutional investors including Wall Street giants and major payments companies, who bring their capital, expertise and reputational influence to the market.

“Third, is the rising number of crypto advocates and mega influencers like Elon Musk, Jack Dorsey and Cathie Wood who have a clear message: crypto is the inevitable future of money.”

Fourth, the technicals back the prediction. Looking at Bitcoin halving events, over time we’ve seen that values rise substantially in the year after a halving. After the 2012 and 2016 Bitcoin halvings, prices increased by 55 times and 15 times respectively.

“And fifth, cryptocurrencies – Bitcoin in particular – have changed the way the world handles money, does business, makes transactions and manages assets. Investors appreciate the intrinsic value of digital, borderless, global currencies for trade and commerce purposes in increasingly digitalised economies in which businesses operate in more than one jurisdiction.”

He goes on to say: “This will only increase as mass global adoption increases. Only last month El Salvador became the first country in the world to adopt Bitcoin as legal tender, and I’m certain many others will follow suit.”

Mr Green concludes: “Today is a major milestone.  It underscores crypto´s mainstream appeal and galvanises its place in the global financial system.”

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