Please! Not Another Doge??
Good Morning Switchers
??Welcome to Switch Daily.?
Notice how Ethereum and Bitcoin prices had tanked since the weekend? Of course, you did, but do you know why? We’re gonna go ahead and tell you—remember the time when a hacker hacked the failing FTX? Yup, that hacker has been dumping 50,000 ETH over the past two days.?
Turns out, they dumped the ETH, converted it into wrapped Bitcoins, and later converted that into Bitcoins. ETH has been bleeding from this episode, along with the other top crypto projects as well. But guess what? Despite dumping so much ETH, the hacker is still one of the top 40 ETH holders in the world.?
?Here’s what we’ve got for you today:?
Market Pulse ??
The market is taking baby steps ??
This Tuesday morning brings a touch of green into the crypto market, which up 1.21% at press time. Several cryptos are recovering. After the bloodbath caused by the FTX hacker yesterday, the market seems to be moving on. However, some of the top coins like Bitcoin, Ethereum etc are still trading flat. The Crypto Fear and Greed Index is at 22, which means “Extreme Fear” continues.
Coin of the day: Apecoin
Popular collectibles project ApeCoin is the star performer with a 9.24% uptick, day on day. ADA and XRP too have registered gains of 1.71% and 2.84%, respectively.
Another Doge makes it to the list ??
Take cover, Doge is taking over the planet or must I say Doge-Aliens are taking over?
Anyway, the point is, there are too many Doges already. After Dogecoin, Dogechain, and Dogelon, there is a new addition to the gang—Dogelien.?
What’s Dogelien??
Exactly what you are thinking. Doge+Alien = Dogelien.?
They describe themselves as “An intergalactic species of DOGE that are about to take over the Metaverse.”?
In plain words, it's just another Dog themed meme token created to continue the meme coin hype but with MORE UTILITY. Isn't that the sole purpose of the likes of Dogecoin and Shiba INU? ??
Anyway, their website is kind of fun, though. It comes with cute animated dogs that look like they just jumped out of Paw-Patrol (for the 90’s kids: Paw Patrol is a cartoon, like Scooby doo, just google it).?
A bit more on the MORE UTILITY part. The network offers these things beyond memes:
Not sure how much Utility that is. But just FYI, this is a fairly new network and has not even been verified and listed on CoinMarketcap and CoinGape yet. So, if you want to be a Dogelien pup, make sure you have DYOR.?
Note: This is just for your information. IT IS NOT FINANCIAL ADVICE of any sorts.?
What else is brewing? ?
A recently filed court document revealed that of FTX's estimated 1 million creditors, the biggest single claim is for $226 million, followed by a claim for $203 million. The identities of these creditors are unknown, but total amount FTX owes is approximately $3.1 billion in total.
American CryptoFed DAO—the first official DAO in the United States plans to take on the SEC over 2021 token registrations without the assistance of an attorney.?
According to data provided by blockchain analytics firm IntoTheBlock, just over 51%, or 24.56 million addresses out of a total of 47.85 million, are investing at a loss. Approximately 45% have unrealized gains, while the remainder are roughly at breakeven.
Meme of the day
And; that’s a wrap for today!
See you tomorrow ????