As Dogecoin Rally Mutes, ‘Cheaper’ Ethereum, Bitcoin Lookalikes Record Massive Gains – fr

As Dogecoin Rally Mutes, ‘Cheaper’ Ethereum, Bitcoin Lookalikes Record Massive Gains – fr

Dogecoin (DOGE) traded nearly 17% lower Thursday night at press time as the cryptocurrency took a break from its recent bullish march, but Ethereum classique (ETC) and Diamant Bitcoin (BCD) has charted a different course.

What happened: DOGE traded 17.10% less at $ 0.53 before Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s scheduled appearance on “Saturday Night Live.”

Musk promised on social media this week that he would “definitely” touch “Summin about The DOGEFATHER” on the variety show.

Still, the Shiba Inu-themed cryptocurrency is up 71.69% in a seven-day period, but DOGE’s rise to prominence has been overshadowed by others such as ETC and BCD.

See also: How to buy Dogecoin (DOGE)

ETC increased 288.47% over the seven-day period, while BCD increased 200.1%. At time of going to press, ETC was trading 36.08% to $ 128.65 and BCD was up 79.82% to $ 6.76.

ETC hit an all-time high of $ 176.16 on Thursday and is down 24.75% from those levels.

Why is this important: Ethereum Classic emerged following a hard fork in the Ethereum (ETH) blockchain in 2016. Bitcoin Diamond is a fork of Bitcoin (BTC) which took place in 2017.

See also: Why is Ethereum Classic increasing, how is it different from Ethereum?

ETH traded 0.98% down to $ 3,456.75 at press time, while BTC traded 1.3% down to $ 56,292.17 at press time.

ETC’s year-to-date earnings have surpassed those of BTC and ETH and caught the attention of investors on social media.

According to CoinDesk, Synergia Capital’s head of research, Denis Vinokourov, said ETC’s appreciation “appears to be dominated by the ‘cheaper’ Ethereum game and the retail flow that has driven DOGE to new heights. vertiginous ”.

There is a potential for investors to confuse various forks of Bitcoin and Ethereum. Recently a fork of Bitcoin – Bitcoin or (BTG) – may have appreciated due to the similarity of its ticker to a Bitcoin fund.

Read more: Could Elon Musk’s SNL Hosting Pool Dogecoin price with profit reservation?

© 2021 Benzinga does not provide investment advice. All rights reserved.


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