Tag Archives: $ETH

Dogecoin 'Millionaire' Plans To Go 'All In' On This Crypto Next

Glauber Contessoto, also known as SlumDOGE Millionaire on Twitter, said his next bet is going “all in” on Cardano (CRYPTO: ADA) after reaping a Dogecoin (CRYPTO: DOGE) fortune in his 30s.

What Happened: ADA, a cryptocurrency created by the mathematician Charles Hoskinson, is already the third-largest cryptocurrency in terms of market capitalization.

See Also: How To Buy Cardano (ADA)

At press time, each ADA sold for $2.56, the cryptocurrency fell 7.89% over 24 hours. DOGE, the seventh-largest coin by market cap, traded 7.84% lower at $0.27 in the same period.

“I’m going to start buying up as much Cardano as humanely possible with every bit of money I start making from now on,” Contessoto told CNBC.

Even so, Contessoto is in no rush. He admitted that “it’s early on” for ADA. “I’m going to be the biggest Cardano supporter,” said the 33-year old investor.

“I’m just waiting on a massive dip before buying into it.”

Why It Matters: Cardano has been attracting buzz after the project announced its intention to usher in smart contract functionality found in cryptocurrencies like Ethereum (CRYPTO: ETH) on Sept. 12.

See Also: Why Is Cardano Trending On Twitter Today?

The addition of this functionality makes ADA “the next best bet,” as per Contessoto, who did not invest in ETH, as per CNBC.

Contessoto invested his life savings into DOGE even though his friends questioned his sanity. In May, his investments were worth nearly $2 million. DOGE hit an all-time high of $0.74 in early May and has since eroded 62.98% in value.

By July, Contessoto was no longer a millionaire but remained determined to buy dips in the Shiba Inu-themed coin.

Contessoto said he would “double down” on DOGE by investing $25,000 as its price took a dive in July.

Read Next: 'Dogecoin Mining' Scam In Turkey Costs 1,500 People $119M As Alleged Perpetrator Vanishes Into Thin Air

Bitcoin, Ethereum, Dogecoin All Slip Into Red But This Top-10 Crypto Is Bucking The Trend

Solana (CRYPTO: SOL) is swimming against the current as major cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) plunged on Thursday night.

What’s Moving? SOL traded 13.69% higher at $82.45 over 24 hours at press time and was up 12.17% for the week. Minutes before press time, SOL touched an all-time high of $83.44.

The Decentralized Finance (DeFi) and Decentralized Application (DApp)-focused project’s coin rose 17.76% and 17.78% against BTC and ETH respectively over 24 hours.

See Also: How To Buy Solana (SOL)

In the same time frame, BTC and ETH fell 2.89% and 2.77% to $47,331.07 and $3,123.37, respectively. Shiba Inu-themed DOGE fell 5.62% to $0.27 over 24 hours.

SOL has shot up 4,407.61% since the year began, nearly matching the 4,699.46% gains made by DOGE in the same period.

Why Is It Moving? Pyth Network became the first cross-chain oracle to deliver real-time institutional grade market data to DeFi apps and platforms on-chain with the launch of Solana Mainnet on Aug. 26, as per a statement.

See Also: DeFi Play Solana Keeps Hitting Fresh All-Time Highs: Is There Still Time To Buy In?

“Pyth will be able to broadcast market data through the Wormhole Network to communicate with dApps across the Ethereum, Binance Smart Chain (BSC) and Terra ecosystems, “ said the statement.

Wormhole is a decentralized attestation engine that trustlessly bridges information between the above-mentioned supported chains.

Last week, Wormhole launched its mainnet, shortly after which a spike was seen in SOL’s price.

“The Wormhole interoperability protocol is a huge leap forward in decentralized finance and demonstrates the value of oracle networks like Pyth,” said Chris Zuehlke, Partner at DRW and Global Head of Cumberland.

As per Pyth Network, Solana is able to meet the transaction speeds of Nasdaq and the total value locked across its ecosystem is in the region of $2.5 billion.

“As DeFi and TradFi continue to converge on the Solana blockchain, we believe Pyth's ability to connect high-fidelity, time-sensitive, real-world data with DeFi applications will play a critical role in the industry's evolution,” said Dave Olsen, President and Chief Investment Officer of Jump Trading Group, a trading firm involved with Pyth Network.

Read Next: Dogecoin 'Millionaire' Plans To Go 'All In' On This Crypto Next