Dogecoin dumps following mention from Elon Musk on Saturday Night Live

While the crowd seemed to enjoy his performance, DOGE traders soured on Elon Musk’s shout-out. Meme cryptocurrency Dogecoin finally got its long-awaited shoutout on Saturday Night Live — but despite hodler hopes, the immediate result has been a violent dump. First teased by entrepreneur and DOGE cheerleader Elon Musk in late April, the Tesla CEO finally mentioned the digital asset on live television tonight in his opening monologue of the sketch comedy show. The reference was a throwaway line from Musk’s mother, who joined him onstage and asked if her…

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Ethereum price closes in on $4K as Shiba Inu (SHIB) steals Dogecoin’s thunder

Ethereum and Dogecoin hit new highs as investors brace for Elon Musk’s SNL debut and Bitcoin bulls push the price closer to $60,000. The crypto market has rallied into the weekend as Ether (ETH), Dogecoin (DOGE) and Shibu Inu (SHIB) hit new all-time highs as they lead the pack of altcoins up the market cap mountain.  Much of the excitement behind Dogecoin’s rally has been attributed to the upcoming appearance of Elon Musk, the CEO of Tesla and a Dogecoin advocate, on the popular Saturday Night Live comedy sketch show. Ether,…

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GBTC discount presents a unique challenge for Grayscale and investors

The Grayscale Bitcoin Trust continues to trade at a discount compared to BTC, a situation that presents a unique challenge to Grayscale and investors. Since 2013 the Grayscale Bitcoin Trust Fund (GBTC) has offered its investors exposure to Bitcoin (BTC) through a publicly quoted private instrument. However, the trust’s convertibility and liquidity vastly differ from an Exchange Traded Fund (ETF). Trusts are structured as companies, at least in regulatory form, and are ‘closed-end funds’ which can initially only be sold to accredited investors. This means the number of available shares…

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Ether dazzles, Dogecoin fears, Elon Musk’s big night, Bitcoin boosts Square: Hodler’s Digest, May 2–8

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week Altcoins rally as bulls pile into large-cap tokens and layer-one projects Were well and truly in the throes of altseason now, with Bitcoins dominance showing no signs of diminishing. Ether delivered a stunning surge that took its price above $3,000 for the very first time, breaking…

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Rari Capital falls victim to $11 million exploit

Rari’s RGT token is plummeting on the news. After a $11 million attack earlier today, Rari Capital is the latest decentralized finance (DeFi) protocol to fall victim to a high-priced exploit  The platform, which builds optimized yield vaults and boutique lending pools, confirmed the attack in a Tweet and said that a full postmortem is forthcoming: There has been an exploit in the Rari Capital ETH Pool related to our @AlphaFinanceLab integration. The rebalancer has removed all funds from Alpha in response. We are currently investigating the situation and a…

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VORTECS Report: NewsQuakes boost DOGE hype, while TEL score rings a bell for traders

As the world waits for Elon Musk’s Saturday Night Live appearance — and a possible nod to crypto’s best friend — an exchange listing proves that real news can also propel DOGE to new heights. What can you say about Dogecoin that hasn’t been said before? How about this: Elon Musk’s tweets aren’t the only thing that let the DOGE out. This week, right in the middle of the retail trading frenzy that has turned everyone’s favorite cartoon puppy into a rabid bull-doge, Cointelegraph Markets Pro subscribers had the opportunity…

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Art reimagined: NFTs are changing the collectibles market

With professionals stepping into the NFT space, the market is set to mature, making digital art a part of traditional collectibles. Art has been serving as the ultimate source of inspiration to many people throughout all of history. In the era of cryptocurrencies and the digitized world, trends change faster than ever. For years, numerous artists have tried stepping into rapidly advancing playgrounds and grabbing their slice of pie, but now their time has truly come. The NFT fever has quickly taken over the industry, turning digital artists and popular…

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$85 million ‘Meebits’ NFT project exploited; attacker nabs $700,000 collectible

The team has paused minting, and will have to use a manual workaround to prevent further exploits. Legendary NFT developers Larva Labs were the victims of an exploit this morning, as an attacker found a way to mint a rare NFT worth over $700,000 from the “Meebits” collection.  The attacker, 0xNietzsche, teased the exploit on Twitter this morning, saying he anticipated making “$300,000 per hour” throughout the duration of the attack. He has since deleted the Tweets, saying that they came off as “douchey.” Definitely sent out some regrettable tweets…

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As Bitcoin’s payment options grow, BTC true future role up for debate

Declaring BTC a store of value — e.g., gold 2.0 — but not a medium of exchange, defies logic. It must first have a use case. In an August 2020 paper “Is bitcoin money?” Peter Hazlett and William Luther wrote that there exists only “a small corner of the internet where transactions are routinely conducted with Bitcoin serving as the medium of exchange.” But that corner may be growing into a room, or even a house now.  “Demand for Bitcoin has certainly grown over the last year,” co-author Luther, assistant…

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What are the chances BTC is actually overtaken by another crypto?

Will innovative advances in competing altcoins’ blockchains be enough to overtake Bitcoin’s success? When the famous Satoshi Nakamoto first designed his masterpiece, few could possibly have imagined the almost $63,500 peak that sent investors into a frenzy. Even these days, the first-ever cryptocurrency’s price feels hard to believe at times and investors might be pinching themselves every now and then. Taking a seat alongside Bitcoin (BTC) on the roller coaster, altcoins like Litecoin (LTC), Ether (ETH) and Bitcoin Cash (BCH) joined the ride — and, more recently, DeFi giants Polkadot…

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