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Dogecoin-Branded NASCAR Crashes as Badly as DOGE
The Dogecoin-branded car crashed in Stage 2 at Nashville Superspeedway. DOGE's price has similarly crashed nearly 20% in the last 24 hours.
Автор Jamie Crawley
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A car emblazoned with the Dogecoin logo crashed in Saturday's NASCAR Xfinity Series Race in Nashville, perhaps a foreshadowing of what was to come for the price of DOGE. The driver was not hurt.
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- Stefan Parsons' car embellished with the DOGE Shiba Inu dog crashed into the wall during Stage 2 at Nashville Superspeedway on Saturday.
- DOGE's price has fallen 23% in the last 24 hours. It sits at just under $0.21 at press time.
- The meme-inspired cryptocurrency's fans pushed the hashtag #dogecar trend on Twitter, and were naturally disappointed when Parsons' race came to a premature end. The subsequent crash in DOGE's price added insult to injury.
- Springates, a manufacturer of auto parts whose CEO is a DOGE enthusiast, sponsored Parsons' car.
- DOGE has a long history on the NASCAR tracks. Dogecoin fans raised 68 million DOGE in April 2014 (worth about $42,000 at the time) via a Reddit campaign to sponsor Josh Wise's Ford Fusion car. Coincidentally, Wise raced in the same team as Stefan Parsons' father Phil.
Read more: Revolut Adds Dogecoin to Crypto Offering
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BlackRock's digital assets head: Leverage-driven volatility threatens bitcoin’s narrative
Rampant speculation on crypto derivatives platforms is fueling volatility and risking bitcoin’s image as a stable hedge, says BlackRock’s digital assets chief.
Bilinmesi gerekenler:
- BlackRock digital-assets chief Robert Mitchnick warned that heavy use of leverage in bitcoin derivatives is undermining the cryptocurrency’s appeal as a stable institutional portfolio hedge.
- Mitchnick said bitcoin’s fundamentals as a scarce, decentralized monetary asset remain strong, but its trading increasingly resembles a "levered NASDAQ," raising the bar for conservative investors to adopt it.
- He argued that exchange-traded funds like BlackRock’s iShares Bitcoin ETF are not the main source of volatility, pointing instead to perpetual futures platforms.
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