Elon Musk triggers the surge of Dogecoin, and ETH surpasses an all-time high
Dogecoin soars more than 50% after Elon Musk’s tweet about the token
Doge has risen in price by more than 50% after the of a series of tweets by Elon Musk. Half an hour after the first message, the Tesla founder posted a picture in which he raises a coin symbol above his head, with the words “welcome”.
In the next tweet, Musk called Doge “the people’s cryptocurrency.”
“No highs, no lows, just Doge,” the entrepreneur wrote in the fourth post on the token.
Doge continues to grow, according to Coinmarketcap. At the time of this writing, the cryptocurrency has risen in price by 63%, reaching $0.053.
Ethereum has overcome the level of $1,600
The Ethereum price has renewed its all-time high, reaching $1,621. Over the course of the day, the crypto coin has risen in price by 5%, and in 7 days — by 26%.
Analysts believe that the growth of the cryptocurrency is due to the launch of Ethereum futures on the Chicago Mercantile Exchange. It is set for February 8th. At the same time, analysts warn of the risks of a decline in the price of ETH.
“For all you know, major players may be looking to get long exposure through futures, now that there is an institutional-grade product to do so. Smart traders moved to Ether when Bitcoin topped out around $40,000 and have made more money,” said Vijay Ayyar, head of the Asia-Pacific division of the Luno exchange.
Mark Cuban: The direction of decentralized finance and non-fungible tokens will be popular
Entrepreneur Mark Cuban believes that the direction of decentralized finance and non-fungible tokens (NFT) could become quite popular in the crypto market in the next decade.
The billionaire also criticized the SEC, noting that the structure was founded by “lawyers for lawyers” to win cases, not make the right decisions. The entrepreneur believes that the SEC only cares about large investors.
Cuban advises those who go into the negative to believe in their investments. He turned to the owners of BTC, who purchased bitcoins in the wake of 2017 and witnessed its strong fall. The hodlers didn’t sell cryptocurrency because they believed in it.