Coinbase Pro, the professional trading arm of the Coinbase cryptocurrency exchange, has begun accepting inbound transfers for Dogecoin (DOGE), setting the stage for wider adoption of the meme-based digital asset. Trading of DOGE will go live on Coinbase Pro on Thursday at 4:00 pm UTC, provided that liquidity conditions are met, the exchange announced Tuesday afternoon. Starting today, inbound transfers for DOGE are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday June 3, if liquidity conditions are met. https://t.co/sFYODy4Xma …

Bitcoin’s (BTC) massive drop in May 2021 is among its worst monthly performances, according to data from Bybt. The decline has divided the crypto community, with long-term investors considering the fall as a buying opportunity while short-term traders are dumping their positions out of fear. Glassnode data suggests that long-term HODLers and miners are using the current weakness to accumulate Bitcoin. This transfer of Bitcoin from weaker hands to stronger hands is a positive sign because long-term investors are unlikely to panic and dump their holdings on every bear market correction. In April, the U.S. personal consumption expenditures price index …

Earlier this week billionaire investor Carl Icahn’s told Bloomberg that he is considering entering crypto in a big way but this hardly made any difference to crypto prices. This is just another hint that the underlying sentiment is bearish and that crypto markets are not reacting positively to favorable news. However, this does not mean that the bulls have stopped buying. While speaking to Cointelegraph, S2F Capital managing partner and chief investment officer Micah Spruill said that on-chain data shows Bitcoin whales, owning between 1,000 and 10,000 (BTC), and retail traders holding between 0.1 and 1 Bitcoin, are accumulating at …

After a flurry of activity that saw Dogecoin (DOGE) briefly process a higher dollar value of daily transactions than Bitcoin (BTC) and Ether (ETH) combined, the surge seen on the Dogecoin blockchain appears to be slowing down. Dogecoin’s price increase throughout 2021 has been accompanied by an equally outlandish increase to the value of transactions taking place on its blockchain. The dollar value of DOGE sent from wallet to wallet peaked at $82 billion on May 5, exceeding the $35 billion recorded on Bitcoin and $12 billion on Ethereum. Outdoing the two most well-known blockchains in the world is all …

A strong bull market tends to attract speculators and newbie traders who hop on to the rally with an aim to get rich quickly. In their eagerness to earn huge profits, traders throw caution out of the window and take on excessive leverage. While this strategy is fruitful during the asset’s up-move, sharp corrections wipe out most accounts due to the use of massive leverage. Bitcoin’s (BTC) recent market drop below $30,000 caused the Bitcoin futures open interest to plummet from $27 billion to $11 billion. This suggests that several leveraged traders would have taken a huge hit. Although painful, …

Tesla CEO Elon Musk reminded Twitter followers on Tuesday that despite the recent interest he’s taken in Dogecoin (DOGE), he still has no formal authority over the project. Musk was replying to a comment from a Doge-themed account, which opined that he had taken to operating Dogecoin like one of his own companies and that he’d effectively become the project’s CEO. The comment framed Musk’s influence as something to be celebrated, but the self-proclaimed “Dogefather” issued a reminder that he actually isn’t the boss and that no one really answers to him. Please note Dogecoin has no formal organization & …

Powers On... is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on “Blockchain, Crypto and Regulatory Considerations.” These past few weeks have been tumultuous, especially for newbies to the crypto market. First, on May 8, Elon Musk, CEO of Tesla, was the host of Saturday Night Live where he promoted Dogecoin (DOGE) — a highly speculative, volatile cryptocurrency with present …

In just over five years since it launched, Ethereum introduced the world to smart contracts, decentralized finance, yield farming and non-fungible tokens, and has long stood just behind Bitcoin as the second-largest blockchain project by market capitalization. Dogecoin (DOGE) is a meme cryptocurrency which has provided no innovation, has no real raison d'etre, and is only popular because it became the plaything of a famous multi-billionaire during the past 12 months. So naturally, as one might expect, the average citizen is already more familiar with Dogecoin than they are with Ethereum. That’s according to the results of a survey conducted …

The sentiment in the crypto sector is extremely bearish. On May 23, several altcoins dipped below the May 19 panic low, suggesting that traders continue to sell at every opportunity. However, Bitcoin (BTC) did not violate its May 19 panic low at $29,257.95, indicating buying at lower levels. John Bollinger, the creator of the Bollinger Bands indicator, believes Bitcoin could be forming a W-shaped bottom, which may have a good risk to reward ratio. In another positive sign, PlanB, the creator of the stock-to-flow Bitcoin price model, said that a large part of the selling has been done by traders …

The high-profile coin purchases by corporate entities like MicroStrategy and Tesla were credited in part with pushing up the price of Bitcoin (BTC) throughout the end of 2020 and the beginning of 2021. Allotting billions of dollars worth of Bitcoin to their balance sheets had a knock-on effect on the stock prices of Tesla and MicroStrategy, both of which were subject to 340% and 808% pumps, respectively, from the moment their CEOs began stacking sats and posting crypto memes. But the glow afforded Tesla and MicroStrategy by their headline-grabbing Bitcoin purchases proved to be short-lived. After the share prices of …

Ethereum co-founder Vitalik Buterin has posted a lengthy paper on the limits to blockchain scalability, criticizing claims made by Tesla CEO Elon Musk. The article, published on Buterin’s personal blog on Sunday, emphasizes the trade-off between decentralization and scalability in architecting blockchain networks. The article comes in response to Elon Musk’s May 15 tweet asserting that Dogecoin will emerge as the leading chain if it moves to increase its block size by 900%: “Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.” Buterin challenged Musk’s proposition, emphasizing the challenge …

After a crippling market downturn that may be picking up steam this weekend, in a tweet this morning, Elon Musk has voiced tepid support for cryptocurrencies. The Tesla CEO, whose about-face concerning accepting Bitcoin payments for new vehicles last week was widely blamed as a catalyst for the downturn, responded to a Twitter user who asked what he thinks about “the peeps who are angry at you because of crypto.” In response, Musk seemed to take a long view of the situation, saying that crypto’s primary challenge isn’t short-term price action, but instead and ongoing battle against fiat: The true …