The majority of big cryptocurrencies are trading in the green, with Ethereum and Dogecoin both up 10%. The overall market capitalization of cryptocurrency is now $2.23 trillion, an increase of 6.94 percent in the last 24 hours. Bitcoin is trading 6% higher at more over $49,000, up more than 1% in a week. More information can be found here.
El Salvador’s Congress passed legislation on Tuesday to establish a $150 million fund for bitcoin-to-US-dollar conversions, ahead of the Central American country’s expected adoption of cryptocurrencies as legal tender next week. More information can be found here.
The Interesting Information
According to millionaire John Paulson, cryptocurrencies are a bubble and will be worthless in the future.
Despite being one of the market’s hottest commodities, billionaire hedge fund manager John Paulson has labeled Bitcoin a “bubble” that will be “worthless.” On an episode of ‘Bloomberg Wealth with David Rubenstein’ that aired on August 30, Paulson argued that cryptocurrencies have no fundamental worth other than a “limited amount.”
The US Securities and Exchange Commission sued the founder of the now-defunct cryptocurrency exchange company BitConnect on Wednesday, accusing him of defrauding thousands of retail investors out of $2 billion. The US Securities and Exchange Commission charged BitConnect developer Satish Kumbhani, an Indian citizen, with lying about BitConnect’s potential for profit and breaking registration restrictions intended to safeguard investors in an expansion of a civil action launched in May.
Before it’s too late, avoid Dogecoin and other cryptocurrencies.
1/8 Undeserving Candidates
Perhaps it is time to teach millennials that not everything that glitters is gold. Some cryptocurrencies, a new investment asset class, are on the edge of extinction. After all, not all tokens are the same.
Here are a few cryptocurrencies that might not be suitable for your investing portfolio
Shiba Inu is a type of Shiba Inu dog (Shiba Inu) 2/8 Shiba Inu is a Shiba Inu dog breed.
Owners of meme tokens are no longer giggling. Shiba Inus promised a whole new level of DeFi renown, but their bark is usually worse than their bite. It may be time to withdraw your winnings and leave this digital currency before investors become tired of the canine-themed cryptocurrency.
Learn more about the Shiba Inu by diving deep into the white paper. It is a part of a well-established token ecosystem. These tokens, however, can’t be utilized for anything. You can develop, stake, and vote for them. There is, however, no final purpose other than to gain value.