Ethereum, Hedera prices rally as Bitcoin Dogs momentum continues – InvestorsObserver
2024-02-22 23:22:46 ET
Bitcoin Dogs , the first ICO in Bitcoin’s network, was one of the hottest cryptocurrencies this week as its token sale gained momentum. Ethereum and Hedera Hashgraph (HBAR) prices also did well as investors cheered key developments in their ecosystem.
Top Ethereum and Hedera Hashgraph news
Ethereum price soared this week as it crossed the important resistance point at $3,000 for the first time since April 2022. It has made a remarkable comeback after it plunged to a low of $863 after the collapse of FTX in 2022.
ETH price surged as investors remained optimistic that the Securities and Exchange Commission (SEC) will approve a spot Ethereum ETF later this year.
Several companies like Blackrock, VanEck, and Franklin Templeton have filed for an ETH ETF, which the SEC is reviewing.
Most analysts believe that the SEC has a high chance of approving the ETFs. However, the main issue is that the agency sees Ether and Bitcoin differently. It sees Bitcoin as a digital commodity and Ether as a financial security.
Unlike Bitcoin, Ethereum has a staking feature that gives holders monthly returns. As a result, the SEC argues that it should be regulated to ensure that holders receive the right rewards.
This issue could become problematic for an Ethereum ETF approval. If it is accepted, however, there is a likelihood that it will see strong inflows just as Bitcoin has done.
Hedera Hashgraph’s HBAR token price also rallied because of the strong performance of SaucerSwap , the biggest DEX in its ecosystem. The platform is gaining market share in the industry as the total value locked (TVL) jumped to over $120 million.
The news came a week after Hedera welcomed Mondelez, the maker of Oreo, as a member of its governance council. It also added Hitachi in January, signaling that the ecosystem is growing.
Bitcoin Dogs momentum continues
Meanwhile, Bitcoin Dogs, an upcoming cryptocurrency, is making waves as it becomes one of the best-performing token sales of the year.
The developers have raised over $3.7 million a week after starting the sale. This speed makes it the best token sales of the year and this trend may continue.
The success of this token sale is mostly because of its positioning in the crypto industry, where it aims to be a leading player in Bitcoin’s ecosystem.
Recently, we have seen this ecosystem boom, with the total value locked (TVL) in the DeFi ecosystem jumping to over $1.6 billion. That makes it the sixth-biggest player in DeFi after Ethereum, Tron, BNB, Solana, and Arbitrum.
Bitcoin Dogs ecosystem will be made up of a 10k NFT collection on Ordinals and a game. These two aspects will help it to create utility for the $ODOG token as it seeks to grow its ecosystem.
There are a few reasons why the Bitcoin Dogs sale may continue doing well. For one, we are in a strong crypto bull run, which could continue for a while. Token sales tend to do well in these conditions.
Second, investors have embraced a risk-on sentiment, as evidenced by the strong Nvidia stock rally after publishing strong results. Further, Bitcoin Dogs sale will likely do well ahead of the upcoming Bitcoin halving event that is scheduled in April.
The post Ethereum, Hedera prices rally as Bitcoin Dogs momentum continues appeared first on Invezz
2024-02-22 23:22:46 ET
Bitcoin Dogs , the first ICO in Bitcoin’s network, was one of the hottest cryptocurrencies this week as its token sale gained momentum. Ethereum and Hedera Hashgraph (HBAR) prices also did well as investors cheered key developments in their ecosystem.
Ethereum price soared this week as it crossed the important resistance point at $3,000 for the first time since April 2022. It has made a remarkable comeback after it plunged to a low of $863 after the collapse of FTX in 2022.
ETH price surged as investors remained optimistic that the Securities and Exchange Commission (SEC) will approve a spot Ethereum ETF later this year.
Several companies like Blackrock, VanEck, and Franklin Templeton have filed for an ETH ETF, which the SEC is reviewing.
Most analysts believe that the SEC has a high chance of approving the ETFs. However, the main issue is that the agency sees Ether and Bitcoin differently. It sees Bitcoin as a digital commodity and Ether as a financial security.
Unlike Bitcoin, Ethereum has a staking feature that gives holders monthly returns. As a result, the SEC argues that it should be regulated to ensure that holders receive the right rewards.
This issue could become problematic for an Ethereum ETF approval. If it is accepted, however, there is a likelihood that it will see strong inflows just as Bitcoin has done.
Hedera Hashgraph’s HBAR token price also rallied because of the strong performance of SaucerSwap , the biggest DEX in its ecosystem. The platform is gaining market share in the industry as the total value locked (TVL) jumped to over $120 million.
The news came a week after Hedera welcomed Mondelez, the maker of Oreo, as a member of its governance council. It also added Hitachi in January, signaling that the ecosystem is growing.
Meanwhile, Bitcoin Dogs, an upcoming cryptocurrency, is making waves as it becomes one of the best-performing token sales of the year.
The developers have raised over $3.7 million a week after starting the sale. This speed makes it the best token sales of the year and this trend may continue.
¿¿¿¿WE’VE HOP, SKIP & JUMPED THROUGH THE PRESALE & RAISED OVER $3,750,000¿¿¿¿
¿¿The pack is UNSTOPPABLE right now!
Get your hands on $0DOG at $0.0198 before the price increases in 15 hours!⏳
Secure yours NOW: https://t.co/zsReKNn2tp pic.twitter.com/qxawFDUlhH
The success of this token sale is mostly because of its positioning in the crypto industry, where it aims to be a leading player in Bitcoin’s ecosystem.
Recently, we have seen this ecosystem boom, with the total value locked (TVL) in the DeFi ecosystem jumping to over $1.6 billion. That makes it the sixth-biggest player in DeFi after Ethereum, Tron, BNB, Solana, and Arbitrum.
Bitcoin Dogs ecosystem will be made up of a 10k NFT collection on Ordinals and a game. These two aspects will help it to create utility for the $ODOG token as it seeks to grow its ecosystem.
There are a few reasons why the Bitcoin Dogs sale may continue doing well. For one, we are in a strong crypto bull run, which could continue for a while. Token sales tend to do well in these conditions.
Second, investors have embraced a risk-on sentiment, as evidenced by the strong Nvidia stock rally after publishing strong results. Further, Bitcoin Dogs sale will likely do well ahead of the upcoming Bitcoin halving event that is scheduled in April.
The post Ethereum, Hedera prices rally as Bitcoin Dogs momentum continues appeared first on Invezz
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