Friday, Jul 01, 2022
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Elon Musk Hints At SpaceX Merchandise Purchase Using Dogecoin; Dogecoin Up 4%

Dogecoin jumped about 4 per cent as Elon Musk tweeted about its newest use case. Every other cryptocurrency, however, was trading with losses.

Elon Musk Hints At SpaceX Merchandise Purchase Using Dogecoin
Elon Musk Hints At SpaceX Merchandise Purchase Using Dogecoin

Tesla CEO Elon Musk has announced that SpaceX merchandise may now be purchased using Dogecoin (DOGE). But despite this news, DOGE’s price did not go up substantially as it did when Elon Musk announced that Tesla’s merchandise can be bought for DOGE. It went up 4 per cent as against 18 per cent after the last announcement, as per Coinmarketcap data.

In other news, the third-largest crypto stablecoin in the world, Tether (USDT), has launched its stablecoin on India’s Polygon (MATIC) blockchain.

“We are excited to launch USDT on Polygon, offering its community access to the most liquid, stable and trusted stablecoin in the digital token space. The Polygon ecosystem has witnessed historical growth this year, and we believe Tether will be essential in helping it continue to thrive,” said Paolo Ardoino, Tether's (USDT) chief technology officer, reported Coindesk.

DOGE’s price did not go up substantially as it did when Elon Musk announced that Tesla’s merchandise
DOGE’s price did not go up substantially as it did when Elon Musk announced that Tesla’s merchandise can be bought for DOGE

The global crypto market capitalisation went down by 0.87 per cent to $1.19 trillion as of 8.50 am. The global crypto volume was down by 13.35 per cent to $88.97 billion, as per Coinmarketcap data.

Cryptocurrency Prices

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $28,642.83, lower by 1.17 per cent in the last 24 hours. Ethereum (ETH) was down by 1.76 per cent to $1,726.07. 

Among other significant coins, Cardano (ADA) was down by 2.65 per cent at $0.4501, Algorand (ALGO) was trading with a loss of 2.71 per cent at $0.3578, Solana (SOL) was trading with a loss of 4.28 per cent at $40.66, Binance Coin (BNB) was down by 0.96 per cent at $297.82, while Polkadot (DOT) was up by 0.97 per cent at $9.02.

Today’s top gainer was Sportoken (SPT), which was up by 270.78 per cent at $0.0000375. The top loser was Sweet SOL (SSOL), which was down by 97.05 per cent at $0.000001171.

Meme Coin And DeFi Prices

Dogecoin was up by 4.31 per cent at $0.08122. Its volume to market cap ratio stands at 0.1198. Rival Shiba Inu (SHIB) was up by 0.62 per cent at $0.00001056.

Dogelon Mars (ELON) gained 6.12 per cent to trade at $0.000000442. However, Floki Inu (FLOKI) lost 8.05 per cent at $0.000008429 and Samoyed Coin (SAMO) was down 2.99 per cent at $0.005026. 
 
In the DeFi segment, YFI (yearn.finance) was down by 5.13 per cent at $7,395.92, and Terra Classic (LUNC) was trading with a loss of 7.34 per cent at $0.0001226. Avalanche (AVAX) was down by 2.33 per cent at $22.44, Uniswap (UNI) was trading with a loss of 4.2 per cent at $4.67, and Aave (AAVE) fell by 5.12 per cent at $92.05.

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