ETHEREUM
With an increase of 36.15% in the last 7 days, Ethereum is stealing the bitcoin show and already represents 18.46% of the crypto market. What's going on with ether?
Summary of the story:
Ether hits historic high at $ 4157.60, beating bitcoin's gains by ~ 1200%;
The fees of the Ethereum network went up again and broke a new historical record of US $ 64.67 this Tuesday (11), according to data from BitInfoCharts. The reason is the creation and popularity of meme tokens like the Shiba Inu (SHIB) and the like.
Since most of these tokens are created in the Ethereum ecosystem through the ERC-20 standard, their heavy use is congesting the network and driving gas rates up.
At the moment, the main cryptocurrency behind this move is Shiba Inu (SHIB), which has appreciated more than 40,000% in a single month. When it was listed on Binance on Monday, its daily volume soared to $ 14.7 billion, according to CoinMarketCap.
The last time it was so expensive to trade on the network was at the end of February when the average cost of tariffs reached $ 38.
A combination of factors may be behind the rise;
Ether's earnings history is really impressive, surpassing even bitcoin, according to Coingolive data:
While bitcoin rose about 560% in the 1-year period, digital oil grew by 1845.53%. (WHAT?)
DOGECOIN
Elon Musk's SpaceX will launch the “DOGE-1 Mission to the Moon” satellite in the first quarter of 2022, with Dogecoin being accepted as payment.
The mission was announced on Saturday by Geometric Energy Corporation and will be funded with Dogecoin.
DOGE-1 will launch a cargo vehicle to collect data from the satellite.
Elon Musk will launch the DOGE-1 mission with a funded, reusable SpaceX rocket loaded with dogecoins to collect intelligence from the terrestrial satellite for the company Geometric Energy Corporation.
As a result, dogecoin will become the first coin that will literally arrive on the Moon.
"Having officially transacted with DOGE for a business of this magnitude, Geometric Energy Corporation and SpaceX solidified DOGE as a unit of account for lunar businesses in the space sector," said Geometric Energy's executive director, Samuel Reid.
The rocket that will literally take dogecoin to the moon is a Falcon 9 whose propellers will be able to fly 100 times without change, a major innovation and cost savings.
MONERO
A day after the first block with transactions following the guidelines of the U.S. Foreign Asset Control Agency (OFAC) is mined on the bitcoin network, the cryptocurrency Monero fires and is discussed as a solution to Bitcoin's fungibility problems.
As we showed in the text “Bitcoin is under attack, the first“ clean ”block is mined - Understand”, the MARA mining pool began censoring bitcoin transactions that did not meet OFAC's AML (anti-money laundering) criteria.
The story reverberated in the older circles of the crypto market, leading developers and influencers to speak out against the pool. Some suggested more privacy measures in the protocol and wallet, while others believe that the lack of financial incentives to censor transactions will be enough to solve the problem.
BITCOIN
Morgan Creek Capital Management's CEO believes that the price of Bitcoin could skyrocket to $ 250,000 over the next five years. This would be the equivalent of R $ 1,309,000 if the dollar remained stable. He further opined that many investors underestimate and ignore the potential of cryptocurrency.
Bright future for Bitcoin
Bitcoin has gone through turbulent times in recent weeks, after reaching a historic high of almost $ 65,000 in mid-April. And while the current value of the cryptocurrency is below $ 60,000, Mark Yusko predicts a significantly more optimistic future.
