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Can Dogecoin Compete with Leading Cryptocurrencies in the Coin Market?

an Dogecoin Compete with Leading Cryptocurrencies in the Coin Market?

By David Drake Dogecoin, the cryptocurrency that was created as a joke back in 2013, has now passed the $2 billion mark in market capitalization. Unlike other cryptocurrencies that offer benefits like blockchain usefulness, practical application and transaction speeds, dogecoin seems to be an attempt to simply cash on cryptocurrency popularity. According to Shaun Dindial, the Managing Director at LDJ Capital investments, investor speculation has led to the growth of Dogecoin popularity and has continued since its launch. “Dogecoin is a great example of how speculation can run a currency up to such a high market cap. This trend is surely not over as investors pulling out of other currencies are looking for huge returns on the cheaper coins. Even if it’s not a long term strategy, the short term can be quite lucrative,” Dindial notes. In early December 2017, Dogecoin was trading at $0.0021, and at the time of ... Read More »

Will Russia Become the First Country to Launch a National Cryptocurrency?

Will Russia Become the First Country to Launch a National Cryptocurrency?

Following President Vladimir Putin’s order earlier last week, Russia is on its way to creating its own national cryptocurrency dubbed cryptorouble. According to the Russian leader’s economic advisor, the government plans to use cryptorouble to avoid international sanctions, particularly from western nations. “Russia has long had aspirations to stop being reliant on Western currencies – especially the US dollar. Cryptocurrencies offer a unique opportunity to finally make meaningful headway in this direction. Moving towards a blockchain economy is not only a way to potentially circumvent sanctions, but can also serve as a democratizing tool to help kickstart a globalized Russian economy, not unlike Estonia and Belarus,” notes Lisa Gus, the Founder and CEO of WishKnish. According to Vasily Kozlov, the CEO of Connectius, approval of sanctions against Russia ignited government interest in cryptocurrencies. “In Russia, interest in blockchain technology flared up right after the sanctions were approved. The greater part ... Read More »

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