DOGE's new-found stability reflects lack of investor interest in trading alternative cryptocurrencies.
Volatility in dogecoin , the largest meme cryptocurrency by market value, has dwindled so much that it now looks more stable than the digital asset industry leader, bitcoin .
DOGE has historically been more volatile than bitcoin, scaring risk-averse investors, understandably so, as BTC has been around since 2009 and has evolved as a macro asset, with increasing institutional participation over the past three years. DOGE, meantime, has been seen as a non-serious crypto project since its inception in 2013.
The meme coin's new-found status as a less volatile asset shouldn't be taken to imply market maturity, and probably stems from a lack of investor interest in alternative cryptocurrencies., or the share in the total crypto market, has surged to 50% from nearly 40% this year, a sign of liquidity being drained from alternative cryptocurrencies and into bitcoin. While the BTC price has gained 60% this year, DOGE has lost just over 12%, CoinDesk data show.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Highlight of a volatility filled week is hereBitcoin (BTC) price remains bullish ahead of the US Federal Open Market Committee (FOMC) meeting later today. With investors watching the clock, the n
Les mer »
Toncoin Price Slides 7%, But Bitcoin BSC Continues to Defy Bearish Market by Raising $4mThe crypto market continues to display volatility in September, with Toncoin (TON) falling 7% in the past 24 hours. TON is now hovering around the $2.33
Les mer »
Trader Henrik Zeberg Shares New Target Price for Bitcoin (BTC) RallyTop trader and macro economist Henrik Zeberg, host of The Zeberg Report media platform, indicates potential 'blow-off' top target for BTC
Les mer »
US Federal Reserve keeps interest rates unchanged, Bitcoin price floats above $27,000Earlier this year, Federal Reserve Chair Jerome Powell stated that the country would likely only see two more rate hikes until the end of 2023. The la
Les mer »
Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple – American Wrap 20 SeptemberUS Federal Reserve keeps interest rates unchanged, Bitcoin price floats above $27,000 Earlier this year, Federal Reserve Chair Jerome Powell stated th
Les mer »
Cryptocurrencies Price Prediction: ImmutableX, Optimism & Bitcoin — Asian Wrap 21 SeptemberImmutableX price rise astonished the market as the altcoin led the crypto market rally on Tuesday. The altcoin hit a 45-day high and, in the process,
Les mer »