Cryptocurrency
Dogecoin Pumps 10% as Dogecoin20 Surges – Just 22 Days Until Doge Day IEO
![](https://letizo.com/wp-content/uploads/2024/03/dogecoin-pumps-10-as-dogecoin20-surges-just-22-days-untildoge-day-ieo_6606b4b6d59fb.jpeg)
Dogecoin has outpaced the market today as its price pumps 10% and crosses the $0.21 mark.
Meanwhile, the next-generation meme coin Dogecoin20 surged past $10 million in the first week of presale and now looks ahead to its 4/20 Doge Day IEO.
Leading Analysts Back Dogecoin to Outperform Market With Massive Gains
A slew of renowned market analysts have provided bullish price forecasts for Dogecoin, suggesting the leading meme coin faces a bullish upcoming trajectory.
Currently, DOGE is trading at $0.21, up 10% today, 38% this week, 69% this month, and 187% this year.
Nevertheless, analysts anticipate much more upside to come.
“DOGE easily has another leg up left in it here. Send it higher,” said Kaelo in a recent tweet.
The analyst highlighted that Dogecoin recently broke and retested its November 2022 resistance, speculating the next “leg up” will catapult it toward $0.3.
Similarly, Rekt Capital anticipates a move toward $0.3, noting that Dogecoin has broken a long-term trendline resistance.
“Dogecoin has ended its macro downtrend and begun a new macro uptrend,” the analyst explained.
He continued, “If DOGE monthly closes above the red $0.20 level, it will reclaim historical support that could offer further fuel for a move towards the $0.30+ area.”
Last week, CryptoWizzardd, who goes by Wizz, said that Dogecoin could “pull numbers over the next 3-4 weeks.”
While the Wizz did not explicitly provide a price target, the analyst did depict a price chart with a marked level of $0.44. This represents a whopping 109% increase from its current price.
Indeed, these predictions illustrate a notably bullish outlook for Dogecoin in the coming weeks. However, prominent trader Jelle says that Dogecoin’s outlook also sets a bullish precedent for other dog-themed meme coins.
“DOGE is starting to move again, paving the way for another dog-themed rally. FLOKI & SHIB took most of the shine in the previous rally, and it looks like the Vikings are trying to claim that throne once more. Looks ripe for a breakout.”
Although Jelle is bullish on Floki and Shiba Inu, other analysts are venturing deeper into the realms of meme coin degeneracy, seeking new projects that present more room for growth.
One is Dogecoin20, a new ICO that has raised over $10 million in one week.
New Meme Coin Dogecoin20 Backed to Explode
Enter an enthralling paradigm of memetic excitement with Dogecoin20, a next-generation Dogecoin derivative with tangible benefits and unwavering community support.
While retaining the vibrant essence that exploded Dogecoin’s popularity, Dogecoin20 ushers in compelling financial innovations, retrofitting the legacy meme coin with mechanisms suitable for current market dynamics.
The project launched on the Ethereum network, ensuring widespread accessibility and boundless functionality.
Its flagship product is a Stake-to-Earn mechanism, enabling $DOGE20 holders to generate passive rewards on their investment. Currently, they can garner an 84% APY, but this will decrease as the staking pool grows.
So far, 33,274,003,895 DOGE are staked, reflecting a deep market appetite to acquire more tokens.
Another advantage is Dogecoin20’s capped supply. Dogecoin holds an infinite supply, making it inflationary and susceptible to price dilution.
Meanwhile, Dogecoin20 embraces the “sound money” principle pioneered by Satoshi Nakamoto in the creation of Bitcoin, holding a capped supply of 140 billion tokens.
These factors have drawn immense excitement among investors and leading analysts alike.
“New 100x potential meme coin – Next Shiba Inu or Dogecoin?” Said Jacob Bury in a recent YouTube video.
But those looking to buy must act fast. The project will launch on exchanges on 20 April (Doge Day).
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Cryptocurrency
bitFlyer Acquires FTX Japan to Expand Crypto Custody Services
![](https://letizo.com/wp-content/uploads/2024/07/bitflyer-acquires-ftx-japan-to-expand-crypto-custodyservices_66a3f8b009b6d.jpeg)
Japanese crypto exchange bitFlyer announced that it has completed its acquisition of FTX Japan, making it a fully owned subsidiary.
The deal, finalized on July 26, will have bitFlyer taking 100% ownership of FTX Japan’s outstanding shares.
Crypto Custody Services
In a Friday press release, bitFlyer detailed its plans to rebrand the newly acquired entity as “Custody New Company” by August 26, 2024. This new entity will focus on expanding bitFlyer’s crypto custody business, leveraging the company’s existing operational resources and advanced wallet technology.
“By acquiring all shares and management rights of FTX Japan, we aim to achieve sustainable growth,” bitFlyer stated. “We will leverage synergies within the bitFlyer Group to develop new services, benefiting not only FTX Japan and its customers but all stakeholders of the bitFlyer Group.”
According to bitFlyer, the Custody New Company will focus on meeting the growing demand for secure crypto asset management among institutional investors.
“The increasing need for institutional investors to enter the crypto asset market and the need for professional security measures drive our strategy,” bitFlyer explained. “We believe that providing advanced crypto custody services and crypto asset ETF-related services will add significant value to the bitFlyer Group.”
bitFlyer also said that it is prepared to address this demand with advanced security measures, using its expertise in blockchain technology and security. The company has developed a highly secure wallet, which will be integral to its new crypto custody offerings.
The financial terms of the acquisition have not been disclosed. However, they stated that it is exploring the provision of services related to cryptocurrency derivatives ETFs while awaiting further legislative developments in Japan, including tax regulations. These offerings are aimed at meeting the needs of financial institutions and trust banks.
FTX Japan’s History
The acquisition follows a sale order issued by the U.S. Court of Insolvency on July 16, 2024. FTX Japan has been under Chapter 11 bankruptcy protection since November 2022, following the collapse of its parent company, FTX. The Japanese arm had stopped exchange operations after the bankruptcy filing but continued managing customer assets.
FTX Japan was launched in June 2022, facilitated by the acquisition of fintech company Liquid Group and its subsidiaries, including Quoine Corporation, one of Japan’s first crypto exchanges.
Despite its promising start, FTX Japan faced issues just five months later when its parent company collapsed amid allegations of embezzlement and misappropriation of billions of dollars in customer funds. FTX’s founder, Sam Bankman-Fried, was subsequently sentenced to 25 years in prison and ordered to reimburse $11 billion.
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Cryptocurrency
BTCC Exchange Introduces Up to 50x Leverage on Over 300 USDT-Margined Trading Pairs
![](https://letizo.com/wp-content/uploads/2024/07/btcc-exchange-introduces-up-to-50x-leverage-on-over-300usdt-margined-trading-pairs_66a3f8a501e71.jpeg)
[PRESS RELEASE – VILNIUS, Lithuania, July 26th, 2024]
In a significant move this July 2024, BTCC has launched up to 50x leverage on over 300 USDT-margined trading pairs. This development follows the successful introduction of 500x leverage on major trading pairs, including BTC, ETH, XRP, SOL, and DOGE. BTCC has now decided to elevate the futures trading experience by increasing the available leverage from 20x to 50x, setting a new standard in the crypto trading world where most exchanges only provide up to 20x leverage for their traders.
Since this launch, nearly 25% of orders have been placed with 50x leverage, showcasing the strong demand among traders. The 300+ cryptocurrencies feature many of the coins in the market right now, such as PEPE, SATS, WIF, SHIB, ZK, WLD, AVAX, and TON.
Alex, Head of Operations at BTCC, commented on the launch, “In June, we introduced 500x leverage on major pairs, and the response was overwhelmingly positive. Our users have since been asking for higher leverage on other altcoins, especially memecoins. This feedback drove our decision to increase the leverage to 50x on over 300 trading pairs.”
The primary advantage of higher leverage can be the ability to open large market positions with a relatively small amount of capital, allowing traders to significantly amplify their potential profits. This feature can be attractive for experienced traders who can predict market movements. However, traders must be aware of the risks involved, and the stop-loss feature is an essential tool to help manage these risks effectively.
About BTCC Exchange
BTCC, established in 2011, is one of the world’s longest-serving and most reputable cryptocurrency exchanges. Known for its robust security measures and user-friendly platform, BTCC offers a wide range of features, including spot trading, futures trading, and copy trading, catering to both novice and experienced traders.
Website: https://www.btcc.com
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Cryptocurrency
Ethereum Foundation Wallet Transfers Over $290 Million in ETH After 7 Years
![](https://letizo.com/wp-content/uploads/2024/07/ethereum-foundation-wallet-transfers-over-290-million-ineth-after-7-years_66a3f89a1c4f4.jpeg)
A wallet associated with the Ethereum Foundation has transferred 92,500 ETH, worth $294.9 million, after being inactive for nearly 6.6 years.
According to Lookonchain, these tokens have been held at the same address since 2017.
The Transfer Details
On-chain data indicates that the ETH was originally received from the Ethereum Foundation on September 1, 2015. The transfer, recorded on July 25, occurred just minutes after a smaller transaction of 1 ETH from the same wallet.
Before the transaction, the only other one from this address in the past seven years was a negligible movement of 0.000513 ETH 30 days ago.
An #EthereumFoundation-related wallet transferred 92,500 $ETH($294.9M) to a new wallet 9 hours ago after being dormant for 6.6 years.
Through on-chain tracking, it was found that these $ETH were received from the #EthereumFoundation on Sept 1, 2015.https://t.co/FKGsNCrBAT pic.twitter.com/vPOAMq4ccK
— Lookonchain (@lookonchain) July 26, 2024
At writing time, Etherscan shows that the funds remain in the new wallet. The reasons behind this transfer are still unknown, and the Ethereum Foundation has not commented on the situation.
Before this, the organization had not engaged in any major selling activity in the current market cycle, causing speculation about a potential change in strategy.
Analysts noted that, historically, the Foundation had strategically sold large amounts of ETH during each bull market, often timing these sales with market peaks. The absence of significant sales in the current cycle had raised questions about whether the market peak was still ahead or if the Foundation had altered its approach.
On July 25, the price of ETH dropped by 10% as spot Ethereum ETFs experienced $133 million in outflows on their second day. The asset fell from nearly $3,500 to a multi-day low of $3,130. At the time of writing, the token is trading at $3,266, having increased by 3% in the last 24 hours.
Previous Ethereum Foundation Transfers
Earlier in July, other wallets linked to the Ethereum Foundation made some transfers. On July 17, according to on-chain analytics firm SpotOnChain, an Ethereum Foundation wallet and another connected to an Ethereum initial coin offering (ICO) participant transferred $12.5 million and $9 million worth of ETH, respectively, to Kraken.
Two #Ethereum Foundation/ICO-related wallets deposited 3,631 $ETH ($12.5M) to #Kraken in the past 2 days as the market rebounded:
1️⃣ Wallet 0xdb3 unloaded 2,631 $ETH ($9.01M).
• It received $ETH from the Ethereum Foundation and Ethereum ICO participant 0xAb0.
• Since June 8,… pic.twitter.com/rpEC1Fe4jj
— Spot On Chain (@spotonchain) July 17, 2024
Since early June, these two wallets have deposited a total of 17,886 ETH, valued at around $65 million, to the centralized cryptocurrency trading platform, suggesting a possible sell-off.
In January, Arkham Intelligence identified a blockchain address associated with the Ethereum Foundation that sold $1.6 million worth of ETH.
Then, in April, Peckshield Alert reported that the Foundation had converted part of its ETH holdings into stablecoins, exchanging 100 ETH for 354,000 DAI during a time when ETH was trading above $3,600.
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