The Dogecoin Foundation has issued a statement distancing itself from a new copycat project called Dogecoin 2.0 (DOGE2), firing off legal demands that the new meme coin change its name. In a letter published on Tuesday, the Dogecoin Foundation asserts it has engaged brand protection lawyers to contact Dogecoin 2.0’s developers in a bid to “protect the Dogecoin community from being misled and to protect the Dogecoin name from possible misuse.” Dogecoin 2.0’s website indirectly throws shade at the original canine-themed crypto, stating: “Dogecoin 2.0 aims to offer investors prolonged growth in utilizing a much more sustainable tokenomics structure than …

Real-world adoption and brand awareness are one of the best ways for a blockchain project to increase its value and attract new users to its ecosystem. One project that has seen massive growth throughout 2021 thanks to its increasing public exposure and exciting protocol launches and partnerships is FTX, a crypto derivatives trading platform founded by Sam Bankman-Fried and Gary Wang. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low near $50 on Tuesday, the price of FTT catapulted 42% to a new all-time high of $66.50 on Wednesday as its 24-hour trading volume increased by …

Bitcoin (BTC) is struggling to break above $50,000 but analysts remain confident due to strong on-chain metrics. Analyst Willy Woo believes that investors have been accumulating Bitcoin and a break above $50,000 could result in a quick up-move to $60,000. Another positive voice was that of SkyBridge Capital CEO Anthony Scaramucci, who said in an interview with Cointelegraph that the limited, fixed supply of Bitcoin and exponentially growing demand will boost prices higher. Scaramucci personally believes that Bitcoin could reach $100,000 before the end of the year. Currently, the focus seems to have shifted to Ether (ETH) as it rallied …

Bitcoin (BTC) has been seeing some consolidation below $50,000 as a psychological barrier. However, during this pullback, several big altcoins have been surging in price, suggesting that the alt season isn’t over yet. Meanwhile, Bitcoin’s price faces a crucial resistance to break through, while Ether (ETH) is already cracking that resistance, hitting a three-month high versus BTC and facing a run toward the next resistance around the all-time high. The primary question is now whether this Ether breakout is a signal for Bitcoin to follow suit and break through the resistance barriers in September. Historically, September has been a corrective …

Bitcoin (BTC) revisited weekly lows on Wednesday as the new month got underway with a fizzle rather than a bang. Bitcoin lingers in “price stability” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $46,530 on Bitstamp overnight, its lowest since Friday. With $50,000 out of reach, price action continued to diverge “remarkably” from strong on-chain metrics and fundamentals. For analyst Willy Woo, who echoed similar findings from this week, a large pool of support at current levels is likely to hold Bitcoin where it is. Over 1.65 million BTC has a cost basis between $45,000 and …

Decentralized finance (DeFi) protocol Cream Finance will pay back its users following a $18.8 million flash loan hack that occurred on Aug. 30. Cream has published a post-mortem to the AMP flash loan exploit, promising to replace the stolen Ether (ETH) and Amp (AMP) tokens by allocating 20% of all protocol fees until the debt is paid entirely. Cream will also post collateral with relevant parties at AMP and its creators, Flexa digital payments network, to secure the debt. According to the post-mortem report, the latest flash loan exploit was the first time Cream Finance has suffered a direct exploit, …

Just looking at Binance Coin’s (BNB) reported market capitalization, one might conclude that the token is the dominant asset when compared to other exchange tokens. Although there is no direct relationship between Binance’s exchange volume (or revenue) and token economics, traders seem to use it as a proxy. The controversial burn mechanism has been losing impact since April 2019, when the exchange changed the BNB white paper. Initially, the white paper proposed a plan where BNB tokens equivalent to 20% of the exchange’s profit would be bought under a “repurchasing plan,” but the new version scrapped that plan. However, excluding …

Layer-one smart contract platforms increased their market share throughout August after the Ethereum network London hard fork did little to solve the major issues of high transaction fees and network congestion. One top 10 protocol that has been gaining momentum but whose native coin, DOT, has yet to experience a significant price breakout to new highs like some of its competitors is Polkadot, a multichain protocol focused on facilitating the creation of cross-chain bridges between separate blockchain networks. Data from Cointelegraph Markets Pro and TradingView shows that after bottoming out at $10.36 on July 20, the price of DOT increased …

After a blistering start to 2021 saw token valuations and trading volumes surge to ignite the current bull market, the DeFi sector as a whole took a break while the NFT sector stepped into the limelight. While investors' attention was elsewhere, DeFi prices have had time to consolidate and project developers were able to focus on protocol upgrades and in the past month, DeFi-related tokens have been gaining traction and look poised for a breakout in September. Data from Cointelegraph Markets and TradingView shows that multiple DeFi tokens, including Aave (AAVE), Synthetix (SNX), YFI and SushiSwap (SUSHI) have rallied nearly …

The world of nonfungible tokens and blockchain gaming has seen immense growth and progress towards mainstream adoption in 2021. Recently, the movement picked up steam as an array of celebrities and internet influencers jumped on the hype train by purchasing premium digital collectibles. One project that has quickly risen in value over the past two months as details about its ongoing development trickle to the public is Illuvium (ILV), an open-world fantasy battle game built on the Ethereum (ETH) blockchain. Data from CoinGecko shows that after hitting a low of $29.32 on June 22, the price of ILV skyrocketed 1,765% …

Signs that an altseason is underway are beginning to increase across the cryptocurrency market after numerous altcoins posted double-digit gains on Aug. 31. Meanwhile, the price of Bitcoin (BTC) continued to face headwinds and the digital asset trades at $47,100. The top altcoin Ether (ETH) looks poised to stage a 40% rally against BTC according to analysts, and a 5% gain in the ETH/BTC pair on Tuesday is thought to be the fuel behind altcoins which rallied more than 30% today. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Metal (MTL), …

“Ethereum’s ascent to the top of the cryptoverse seems unstoppable,” declared Nigel Green in mid-August, and it’s not hard to see why the deVere CEO thinks this. DeFi is on a tear, NFTs are mushrooming, Ethereum (ETH) remains more scalable than Bitcoin (BTC) and it also offers more uses including smart contracts. Moreover, Ethereum will soon move to a proof-of-stake (PoS) consensus algorithm, looking to be more eco-friendly than Bitcoin’s energy-intensive proof-of-work (PoW) protocol. “Ethereum is already years ahead of Bitcoin in everything but price and fame,” said Green earlier this year, adding: “There’s a real sense that 2021 is …