First, Binance announced the launch of perpetual DOGE/USDT contracts on its derivatives platform Binance Futures with leverage of up to 50x. The tool will become available to users on July 10.
Second, OKEx added support for DOGE trading on its spot margin trading section and savings service. On July 10, the platform will also launch a perpetual DOGE/USDT swap with leverage of up to 20x.
. @Dogecoin is landing on Bitfinex as MDOGE (MegaDogecoin), with a conversion rate of 1 million.
Deposits will open on July 10th at 7:30 AM UTC, trading and withdrawals will start an hour later. Available pairs will be DOG/USD, DOG/UST and DOG/BTC. https://t.co/j4WB76g1A4pic.twitter.com/d3v7lFif36
Third, Bitfinex announced the listing of DOGE on its platform—in the form of MegaDogecoin (MDOGE), which is equal to one million “normal” DOGE. At the current exchange rate, this makes one MDOGE worth around $4,640.
Who let the DOGE out?
As Decrypt reported, a single viral TikTok video was enough to pump DOGE by 43% yesterday, driving the token’s price to its highest point since 2018. Today, the token is up roughly 20%, trading at around $0.0045. Yet, still a long way to $1—the price which the creators of the video want to hit.
According to CoinMarketCap, DOGE now occupies the 26th place among top cryptocurrencies by market capitalization, outpacing 15 of its peers since July 5, including Compound (COMP), Basic Attention Token (BAT), Kyber Network (KNC) and Aave (LEND).
And DOGE’s triumphant march did not go unnoticed. For example, Morgan Creek Digital co-founder Jason Williams already commented on Twitter that he was buying DOGE.
The Bank of Korea is considering linking its deposit tokens to a public blockchain, a move that would position its state-backed digital currency alongside private-sector stablecoins operating on open networks.
The tokens will be “a type of stablecoin issued within the digital currency system built and operated by the Bank of Korea,” the bank’s Deputy Governor Lee Jong-ryeol said in a statement Decrypt has confirmed with local sources.
"We are considering a direction in which it will coexist with...
Professor Andrew Urquhart is Professor of Finance and Financial Technology and Head of the Department of Finance at Birmingham Business School (BBS).
This is the sixth instalment of the Professor Coin column, in which I bring important insights from published academic literature on cryptocurrencies to the Decrypt readership. In this article, we’ll investigate cryptocurrency derivatives.
Bitcoin has gone from being an obscure digital asset traded by blockchain enthusiasts to one of the most trade...
Bitcoin (BTC) may be gaining momentum globally, but in Australia, it’s also attracting political ire.
On May 23, Senator Gerard Rennick dismissed Bitcoin as a “Ponzi scheme,” sparking immediate backlash from crypto industry groups and users alike.
“Bitcoin will ultimately go to a $1 million dollars. Why? Because it’s a Ponzi scheme whereby BlackRock will pump more and more dollars into a supply-constrained product,” Rennick tweeted in response to a user who sarcastically asked for his “special c...
