Tag Archives: $BTC

Ethereum Is Less Of A Risk Than Other Altcoins During This Market Wide Dip: Santiment

The overall crypto market cap dropped by 2.47% to $2.02 trillion over the past seven days as Bitcoin (CRYPTO: BTC) failed to find support above $50,000.

What Happened: Even as several altcoins experienced steep corrections, on-chain analytics platform Santiment noted that Ethereum (CRYPTO: ETH) was one of the few assets that were minimally impacted by the market-wide dip.

📊 #Ethereum is one of the few minimally impacted assets during this market-wide dip over the past 8 hours. Still above $3,100, read about $ETH's token circulation, mean dollar invested age, & sentiment to indicate why the asset is holding up well. https://t.co/mfUQjlid2z pic.twitter.com/IxltCmfGTa

— Santiment (@santimentfeed) August 26, 2021

Santiment found that even though Ethereum has been relatively boring compared to the monstrous upswings many other assets have seen, the same reasons make it less of a risk to hold as of now.

“Ethereum's token circulation has just exceeded two-month high levels. The amount of unique tokens moving on the ETH network showing an increase here is a promising sign that if it does drop back below $3,000 again, it may not be for long if circulation sustains itself up at these increased levels,” stated a Santiment analyst.

He also noted that ETH’s mean dollar invested age has been on the rise. However, over the past three days, this line has begun to dip lower.

“This is an extremely promising sign, as it indicates that dormant dollars that were invested in quiet ETH addresses are beginning to move once again,” he said.

Read also: Third Person To Ever Own Bitcoin Says Hitting $100K Is 'Quite Possible' This Year

“Notice what Ethereum's price did from late February to early May on the left side of the chart. Long story short, when this line begins to dip down, good things happen. We will just need to see if the down-trend continues to avoid seeing a fake-out of just a few encouraging days here.”

Price Action: At press time, Ethereum was trading at a price of $3,133, down 3% over the past 24-hours. The coin had a trading volume of $17.6 billion and accounted for 18.2% of the market at the time of writing.

Dogecoin Can Now Help Rescue All The Good Bois As PAWS Chicago Begins Accepting Crypto Donations

“Dogenations” or donations denominated in Dogecoin (CRYPTO: DOGE) can now be made to PAWS Chicago, an organization centered around building No Kill animal communities in Chicago and elsewhere.

What Happened: PAWS Chicago NOW accepts DOGE, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and “many other cryptocurrencies,” as per its website.
See Also: How To Buy Dogecoin (DOGE)

The organization is partnering on a pro-bono campaign with Leo Burnett, a creative advertising agency, as per a statement. Leo Burnett is banking on the “laser eyes” meme for “out-of-home advertising” keeping in mind a tech-savvy demographic.

“The rise of Dogecoin is further proof that people love dogs,” said Ben Doessel, associate creative director at Leo Burnett.

“We are eager to connect with the growing cryptocurrency community, who can help sustain the future of animal welfare in Chicago and save animals' lives,” said PAWS Chicago CEO Susanna Homan.

Why It Matters: PAWS Chicago noted that millennials are most active in cryptocurrency and have recently overtaken Gen X as the largest pet-owning cohort of Americans while both pets and cryptocurrency trends simultaneously. 

See Also: Bitcoin Sees Increased Selling From 'Old Hands' As It Trades Near $50,000 Level

“#DogsOfTikTok has 78 billion views and #DogsOfInstagram has 248 million posts. Meanwhile, conversations around cryptocurrency are especially active on Reddit, particularly on /r/CryptoCurrency (3.2 million Subscribers) and /r/Dogecoin (2 million Subscribers),” noted the organization.

In April, an anonymous donor gave generously to a Florida animal shelter after receiving a windfall from her DOGE investment.

Last month, Brandon Brown, the Baby Doge Coin (CRYPTO: BABYDOGE) NASCAR driver and animal lover, appreciated that the coin donated $100,00 to save dogs.

Price Action: DOGE traded 7.09% lower at $0.29 over 24 hours at press time.

Read Next: Cardano Gets Wild Price Target Of $100 From Backers On Social Media. Feasible? Here's What This Expert Has To Say