Dogetti Gives Out 50% Bonus While Bitcoin Briefly Tops Trading Price of $25K and USD Coin Depegs
Stablecoins have values that are pegged to those of other currencies, exchange-traded commodities, or financial instruments. Since their prices are linked to a reserve asset like the US dollar or gold, this creates a bridge between the worlds of cryptocurrencies and regular fiat money. Compared to cryptos that ensure a high return on investments (ROI), like Dogetti and Bitcoin, its price volatility is lower.
The stability of traditional investments and the digital assets’ flexibility is indeed a fine idea—especially for risk-averse investors. Stablecoins like USD Coin (USDC), which are some of the most widely used means of storing and exchanging value in the crypto ecosystem, have seen slow albeit huge cash injections.
If stablecoins promise to be safe against crypto’s price fluctuations, why are they trading in red this week, then?
Since stablecoins are less volatile, they are the ideal investment for conservative investors. But Circle’s USDC stablecoin regretfully depegged from the dollar. This may be a result of Silvergate and Silicon Valley Bank’s collapse—investors, in turn, run to high-risk cryptocurrencies to store their assets.
Stablecoin’s decline may have also been caused by the absence of regulatory frameworks. The brief decline, which has recently begun to reverse, also has clear signs of a black swan failure, according to Circle via their Twitter account.
Regulating Crypto, including USDC
Financial authorities in the US, UK, and all over the world are implementing regulations to safeguard crypto—this encompasses stablecoins—against potential money laundering scams and the like.
Cryptocurrencies are covered by Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), initially enforced in 2014. Europe has succeeded in establishing a European Union-wide framework after weighing the advantages and disadvantages of crypto assets. The United Arab Emirates also established its crypto framework.
The governments of South Korea and India are modifying their laws to keep control of the bitcoin market.
Bitcoin Hits $25K Trading Price!
CoinGecko says the global cryptocurrency market cap today is $1.12 Trillion, with Bitcoin dominating the race at 42.45%. The top cryptocurrency has dropped 4.17% but is trading at $25,017.81, with a live market cap of $483.30 billion and a volume of $48.74 billion.
Dogetti’s 50% Bonus
Dogetti is a new token project in the decentralized finance (DeFi) ecosystem that capitalizes on the inherent whimsical characteristics of meme coins. This meme token project models a top mafia dog with great love for family (community) and a heart that gives.
While Dogetti developers work on successful presale phases, they entice token holders with a plethora of product offers. Its current offer is its exclusive presale bonus code, where users get an extra 50% on all their purchases should they use the ‘DON50’ code. This offer is time-limited and thus needs to be utilized as soon as possible! But, great news for token holders who have previously bought it during stage 1 as the price increases by about 300%!
Want to be a part of the Dogetti Family? Connect with them via the following links today:
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