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The top five most searched cryptocurrencies on Google; this meme coin beats all

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  • Crypto valuations are at record high levels and meme cryptocurrencies are currently dominating the crypto landscape.
  • Dogecoin Topples Giants like Bitcoin & Ether in monthly Google searches.

The crypto craze among retail investors and continues to grow every passing day. The combined valuations of the overall crypto market recently touched an all-time high above $2.6 trillion. Some of the most popular digital assets like bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB) also touched record-high levels over the last week.

Spot trading volumes at the exchanges have skyrocketed showing higher retail interest and participation. Besides, the institutional inflow of money has also surged with record inflows. As this happens, let’s have a look into the top five cryptos with most searches of Google.

Meme coin Dogecoin grabs the top spot

Meme cryptocurrency and Elon Musk’s favorite Dogecoin (DOGE) grabs the top spot as the most searched cryptocurrency on Google. Dogecoin had the most number of Google searches in the U.S. so far in 2021. The meme cryptocurrency is getting over seven million monthly searches in 2021.

Dogecoin (DOGE) witnessed a mega bull run earlier this year and touched an all-time high of $0.70 in May 2021. Although the cryptocurrency has retraced 50 percent it continues to grab investors’ interest. Dogecoin has since maintained its position as the top ten cryptocurrencies by market cap.

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Apart from Elon Musk, several other billionaires have supported the meme cryptocurrency. Mark Cuban, the owner of the U.S. Basketball team Dallas Mavericks has started accepting Dogecoin payments for the Mavs’ merchandise and tickets.

Coinbase has also listed the Dogecoin crypto on its professional trading platform Coinbase Pro. This brings along a flood of trading volume to the crypto.

The next 4 cryptocurrencies in line

  • Bitcoin (BTC): The world’s largest cryptocurrency obviously has to be at the number 2 spot. Bitcoin’s Google searches averaged at 4,700,000 searches per month. The cryptocurrency dominates 445 of the total crypto market valuations making it a top choice among retail as well as institutional players. Strong developments around the cryptocurrency such as the recent launch of Bitcoin ETF has got more investors attracted to it.
  • Ethereum (ETH): Etheruem follows on the lines of Bitcoin and is the number 3 trending cryptocurrency with 1,800,000 searches a month. The hosting of DApps, DeFi and NFTs makes the Ethereum ecosystem attractive for a large number of investors worldwide. The developments with Ethereum 2.0 are also driving a major rally in the ETH price.
  • Shiba Inu (SHIB): This meme cryptocurrency and the rival to Dogecoin has stormed the crypto market this month. Shiba Inu (SHIB) surged nearly 500 percent this month making its way to the top ten crypto spot. This meme crypto has average Google searches of 870,000 times a month.
  • Cardano (ADA): Ethereum-competitor Cardano (ADA) is the fifth most-search cryptocurrency with average Google searches of 704,000 a month. Founded in 2015 by Charles Hoskinson, Cardano is now the fourth-largest cryptocurrency by market cap. The Cardano blockchain recently introduced a smart contract facility attacking several DeFi players to the platform. This Ethereum-competitor is known for its massive scalability and low-cost transactions.

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Australia to Introduce New Regulatory Laws and Licensing Frameworks for Crypto Firms

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As some top economies across the world are working to bring clarity on crypto regulations, Australia joins the bandwagon. As per the latest report, Australian lawmakers will soon create a licensing framework for cryptocurrency exchanges.

Australian Treasurer Josh Frydenberg has recently welcomed this move saying that Bitcoin and other digital assets would emerge under a financial licensing scheme for crypto trading platforms. Speaking of this development, Mr. Frydenberg said:

“Australia has an opportunity to be among the leading countries in the world in leveraging this new technology. Recent surveys have found that up to 17 percent of Australians currently own cryptocurrency, with that figure likely even higher among young Australians.”

The Australian Treasurer said that he will begin talks on the licensing framework of crypto from early 2022. Besides, they will also be regulating crypto custodians i.e. businesses who hold digital assets on behalf of their consumers.

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Crypto businesses in Australia are also supporting this move. BTC Markets chief executive Caroline Bowler said: “It would be a crushing shame to not have our regulation keep pace with international peers such as Singapore, Canada and Britain”.

Australia’s Own Central Bank Digital Currency (CBDC)

Australian Treasurer Josh Frydenberg also spoke about the possibility of having a central bank digital currency (CBDC) and doing pilot testing before the end of 2022. However, he advocates for the cash industry saying that the Australian CBDC should be replacing physical banknotes.

Besides, the country is looking to broaden the scope of laws for online transactions providers. Tech giants like Google and Apple are making rapid penetration in the payments market. Furthermore, there’s a fast emergence of buy-now-pay-later (BNPL) providers ike Afterpay Ltd. operating without any direct supervision. Speaking of this, Treasurer Frydenberg said:

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“If we do not reform the current framework, it will be Silicon Valley that determines the future of our payment system. Australia must retain its sovereignty over our payment system.”

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Top 5 cryptos to include in your Christmas wish list

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  • Cryptocurrencies offer a unique opportunity to diversify one’s portfolio.
  • There are five altcoins that appear to have great potential.
  • Speed, scalability, and low transaction costs make these digital assets stand out. 

Cryptocurrencies are here to make transactions easier and faster. But before you can jump right in and add any old cryptocurrency to your Christmas list, you need to understand what token you are investing in and the benefits they offer. There are five cryptocurrencies that appear to have a great future ahead.

Solana

Solana is an open-source project implementing a new, high-performance, permissionless blockchain that is all about speed.  

It has 400 millisecond block times and as hardware gets faster, so does the network. Solana’s scalability ensures transactions remain less than $0.01 for both developers and users. 

Price-wise, Solana is currently selling at an average price of $200. 

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Not only is Solana ultra-fast and low cost, but it is also censorship-resistant. This means that the network will remain open for applications to run freely, and transactions will never be stopped.

Solana’s crypto-economic system is designed to promote a healthy, long-term self-sustaining economy with participant incentives aligned to the security and decentralization of the network. The main participants in this economy are validation clients.

StakeMoon

Since launching in early November, StakeMoon has raised $1,200,000 and continues to climb. 

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The new and innovative digital cryptocurrency project is still in its infancy but looks like a promising investment. Striving to reward long-term holders, StakeMoon’s token has a taxation policy that penalizes market speculators, resulting in regular dividend payments for existing token holders and flexible staking rewards. 

Transactions attract a taxation rate of 15%, where 10% is distributed to existing token holders, while the remaining 5% is allocated to the StakeMoon liquidity pool. Tokens are not locked into a minimum redemption period. Instead, stakers can withdraw their StakeMoon at any given time.

StakeMoon has launched on PancakeSwap, a decentralized exchange (DEX), on November 20, creating a marketplace for users to buy, sell, and trade hundreds of decentralized finance (DeFi) tokens without third-party involvement.

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StakeMoon has been heating up fast and keeping tight on its roadmap, with plans to list on BitMart in early 2022 with CoinGecko and CoinMarketCap listings coming soon.

Avalanche 

Avalanche is an open and programmable smart contracts platform for decentralized applications.

It claims to be the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. The native token, AVAX, secures the network, pays for fees, and provides the basic unit of account between the multiple blockchains deployed on the larger network.

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The resources spent by a validator for staking are proportional to that validator’s total stake. Avalanche has unique benefits including the rewards accumulated by a validator for validating are proportional to that validator’s total stake. 

Since Avalanche is leaderless, there are no “rich-get-richer” compounding effects. Validators that lock their stake for longer are rewarded more and are also incentivized to stay online and operate correctly as their rewards are based on proof-of-uptime and proof-of-correctness. 

AVAX is a capped-supply token, with a maximum cap of 720 million tokens. The rate at which the maximum cap is reached is subject to governance. Fees are not paid to any specific validator. Instead, they are burned, thus increasing the scarcity of AVAX.

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DeFi Coin

DeFi Coin is the digital token that represents the DeFiCoins.io website and DeFi Swap exchange. 

By allowing buyers and sellers to exchange value directly with other market participants – the DeFi Swap exchange ensures that there is no requirement to go through a centralized third party. 

The DeFi Coin umbrella actively promotes three functions: static rewards, automatic liquidity pools, and manual burning strategy.

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Users are encouraged to hold their DeFi Coin tokens on a long-term basis because transactions are taxed at a rate of 10% discouraging day trading. Perhaps most importantly, 5% of this figure is distributed to existing DeFi Coin token holders, which is not much different from conventional dividend payments. The other 5% is utilized to provide liquidity to decentralized exchange services.

A major benefit of holding DeFi Coin tokens is that users can earn dividends via a static reward system.

Radix 

Radix promises to put the fun back into DeFi with a focus on the community, security and scalability. 

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It focuses on the community, recognizing each individual developer and allows them to contribute to the online DeFi component library in exchange for direct royalty fees when projects use their components to build the next billion-dollar DeFi application.   

Radix is the only decentralized network where developers will be able to build quickly without the constant threat of exploits and hacks, where every improvement will get rewarded, and where scale will never be a bottleneck.

The network’s unique benefits include 100% of all transaction fees being burned, 53.8% of the token supply being locked on average across POS networks, 300 million XRD tokens per year will go to stakers for securing the network, and eXRD/SRD bridge will allow users to move quickly between Ethereum and Radix.

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Three Arrow Capital, Which “Abandoned” Ethereum, Received $400 Million Worth of It in Two Days

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The hedge fund CEO that promised to abandon Ethereum just received $400 million worth of it

Three Arrow Capital crypto hedge-fund received a significant amount of Ether from various large centralized exchanges following the company CEO’s critique and abandonment of the Ethereum network.

Series of large Ethereum transactions

Large transactions have been appearing on the fund’s address constantly in a period of two days. Only two hours before press time, the fund’s wallet received 27,000 Ethereum coins worth approximately $108 million.

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Etherscan Page
Source: Etherscan

The day before, the fund received 14,000 ETH worth approximately $56 million and the same amount three days ago in numerous smaller transactions worth from 2,000 ETH to 12,000 ETH.

The fund’s withdrawing activity might be a sign of accumulation during the most recent market dip. Since Ethereum lost 27% of its value at the local trend’s bottom, funds and large investors were able to purchase the asset at a significant discount during the market sell-off.

Fund CEO’s complicated relationship with Ethereum

Previously, the CEO and founder of Three Arrows Capital have stated that he decided to “abandon” Ethereum despite all the support he provided to it in the past. His main problem with the network was the inability of newcomers to simply afford the chain due to high fees.

Later on, Zhu “softened” his previous tweet by saying that he used the wrong word in the heat of the moment. The fund’s CEO has also pointed out that he respects the effort of building L2 solutions that help Ethereum with scaling but would also prefer seeing further development of the first layer that would make mainnet affordable for new users.

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