Dogecoin Heads Towards $1 Amidst Other Altcoins Surging [ What Future Does Crypto Hold ]

"It's Not About Being The Best, It's About
Being Better Than You Were Yesterday ” Hi welcome back and I'm Prathiksha you’re listening
to the Coinpedia Daily Podcast 5th May 2021. Coinpedia is the most trusted & followed news
site for trends and updates in the Crypto & Fintech world. To stay connected & not to miss on the latest
updates do subscribe to our channel Let's see today’s top Cryptocurrency news Dogecoin Is Now More Valuable Than XRP The meme-based cryptocurrency Dogecoin reached
an all-time high of $0.68 today after a more than 50% jump within a single day.

According to Coinmarketcap’s data, Dogecoin
now has a market cap of more than $88 billion, approximately $25 billion more than the total
market cap of XRP. The meme-based cryptocurrency is now the 4th
most valuable cryptocurrency in the world after Bitcoin (BTC), Ethereum (ETH), and Binance
Coin (BNB). According to bybt.com, approximately $200
million worth of short DOGE positions were liquidated in the last 24 hours amid a surge
in the price of the cryptocurrency. Is the day nearer when we see Doge hitting
$1? Do let us know your thoughts in the comment
section below Moving on Ethereum Showing Massive On-Chain
Growth Blockchain analytics firm Glassnode says activity
on the Ethereum network is surging as the second-largest crypto asset by market cap
hits new all-time highs above $3,500. The report says that exchanges now hold only
12% of the total ETH supply, while smart contracts hold 22.8%, indicating soaring interest in
the decentralized finance (DeFi) space Glassnode says Ethereum is also seeing higher
throughput since Ethereum miners adjusted the block gas limit to 15M, leading to a drop
in gas prices and therefore an increase in transaction volumes A downward trend is typically viewed as a
bullish indicator for the network Binance Coin market cap hits new ATH Binance Coin, or BNB, has set another record
after posting a new all-time high above $660.

The altcoin’s market cap first crossed the
$50 billion benchmark in the first few days of April. However, the market cap jumped more than 100%
in less than a month, As of reporting BNB is trading at $639 with its market cap at
$101.33 billion The recent rise in the prices has resulted
in the decline of Bitcoin’s dominance, currently at 47.24%. The last news for the day Chainlink surges
past $50 to hit yet another ATH Despite the fact that many alts were seeing
corrections over the past few trading sessions, Chainlink, however, was an exception to the
norm, with the cryptocurrency choosing the opposite direction to climb to yet another
ATH on the charts. At the time of reporting, LINK is trading
at $49.96 having hiked by 40% in the last 7 days alone. Owing to a fairly good correlation with the
likes of Bitcoin and Ethereum, LINK has frequently ridden the wider market’s bull wave to climb
up the charts. With this its time to conclude today's Coinpedia
daily podcast.

Will be back with some of the trending news
for tomorrow. To keep going with the Crypto space log on
to Coinpedia.org and check Coinpedia news available at your service 24*7.

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