Crypto News | Dogecoin hit market value of $1.17 billion

If we take a look at the market of cryptocurrencies, it’s very easy to notice that there are new cryptocurrencies emerging every day. Cryptocurrencies have become recognized by financial institutions and they are becoming more and more popular on a daily basis. In today’s news article, we’ll present a cryptocurrency that was created as a parody, but now has reached quite a big market value. The name of this cryptocurrency is dogecoin. On Friday, Dogecoin hit market value of $1.17 billion, reaching its all-time high. It’s traded at $0.010360 per token and only last month it rose more than 400 percent. Dogecoin was created in 2013 and it was designed as virtual token that allow people to easily send money online. If you’re entering the game with cryptocurrencies that have been emerging in the last couple of months, you won’t be the only one. There are many traders investing in dogecoin or ripple because big cryptocurrencies, such as bitcoin and ethereum, can cost too much for new entrants. In other words, people feel better if they have 2,000 units of ripple than half of a bitcoin.

As already said, dogecoin hit market value of $1.17 billion, but ripple reached new high, as well. On January 4, ripple hit a new all-time high of $3.317 per unit and it now has a market cap of $137 billion.

As for the other news, the yuan won against dollar on Friday. It’s yuan’s fourth consecutive week of gains and most of the experts agrees that it has to do with China’s economic data, tighter liquidity and expectations of more foreign capital inflows. Oil prices fell on Friday, however. which might be linked with political tensions in OPEC-member Iran.

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Author: Max Rothstein
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