This blockchain uses a PoS consensus protocol to allow DC token holders to propose ideas, vote, and assign authority. Despite its decentralization and security procedures, nobody knows its developers yet, generating mistrust in the community.

New crypto projects listed on platforms like CoinGecko and CoinMarketCap include those of the Dogechain network. Of course, many users wonder whether this blockchain is an initiative of Dogecoin.

Dogechain (DC) is a project alternative to Dogecoin (DOGE), not layer 2 of the latter. The Ethereum Virtual Machine supports this blockchain, which is part of a separate network on Polygon Edge.

The Dogecoin Foundation has reported that they have nothing to do with Dogechain. Although this project does not belong to Dogecoin, it may have created a stir and aroused considerable interest due to its name.

Investors should pay attention to this difference since buying any new project may pose risks.

Some Relevant Characteristics of the Dogechain Network

The relationship between Dogecoin and the Dogechain network is that the latter can use DOGE through a bridging mechanism. DOGE holders can receive WDoge (Wrapped Doge) and exchange their WDoge for Dogecoin.

This decentralized blockchain uses the IBTF Proof of Stake (PoS) consensus protocol to allow the participation of the community. DC token holders can propose ideas, vote, assign authority, and help develop the network.

According to the team behind Dogechain, it has gathered at least 58,000 wallets and processed around 480,000 transactions after its launch.

Some Features of DC, the Dogecoin Native Token

As explained above, the Dogechain native token is DC, not DOGE, although WDoge has functionalities similar to DC on this network.

DC allows paying gas fees on the network while being a governance token to propose ideas, make decisions, and vote. It is also an access token to boost smart contracts, dApps, and transactions within Dogechain.

The total supply of DC is 1 trillion units, 3% of which has gone to airdrops. The network released 15% on September 1^st and will unlock 85% will be unlocked over a year.

Relevant Characteristics of Dogechain to Keep in Mind

Despite the significant boom of these new projects, they pose a high risk for investors. Other projects have used the prominence of Dogecoin to boost themselves before, but this one has achieved much more relevance.

There are no details of the dynamics of the announced airdrops yet. Meanwhile, the network plans to release 85% of the total DC supply over the following 12 months. Therefore, strong adoption of Dogechain is necessary to keep the price of DC stable.

Despite the decentralization of this network and its security procedures, nobody knows the developers of this network yet. Although there are successful projects whose developers remain anonymous, anonymity generates mistrust and lends itself to bad practices.

The Dogecoin Foundation Stresses that Dogechain is not Dogecoin

Billy Markus, one of the founders of Dogecoin, has turned down a USD 14 million offer to promote Dogechain. The community applauded his decision, although he stopped participating in Dogecoin some years ago.

Despite the harsh criticism against DC, it has gained much ground while many dApps operate in this ecosystem. Cryptocurrency exchange KuCoin was the first to list this token, which boosted its price.

By Alexander Salazar

Since late 2021, Zhao has lived in Dubai, which he considers a hub of innovation for the cryptocurrency industry. Although he came from the traditional financial space, Bitcoin inspired him with its lack of borders and intermediaries.

Changpeng Zhao, the most recognizable face in the cryptocurrency industry, accumulated his fortune in a relatively short period.

Cryptocurrency trading allows many to make or lose millions, as there is no cash shortage in the one-trillion-dollar sector. This year, the number of billionaires with a cryptocurrency fortune has grown from 12 to 19.

However, billionaire Changpeng Zhao, the founder of Dubai-based cryptocurrency exchange Binance, has a remarkable story. Although he is a self-made billionaire, his beginnings in China were humble.

The father of Zhao was a teacher labeled a pro-bourgeois intellectual who became an exile, which led them to Canada.

A Chinese Immigrant to Canada Who Lives in Dubai

Changpeng Zhao was twelve years old when his family moved to Canada. As a teenager in Vancouver, friends from different backgrounds and cultures accompanied him.

In late 2021, he chose Dubai as his new home as he considers the cryptocurrency space very international and diversified. In addition, he thinks the capital of the United Arab Emirates is a hub of innovation.

After graduating as a computer scientist in Canada, Zhao engaged in market-focused commercial software. He worked as an intern at the Tokyo Stock Exchange and had a four-year full-time job at Bloomberg.

Zhao developed commercial software for Wall Street while he was at Bloomberg. It aimed to help investors buy and sell contracts to trade an asset at a predetermined price.

After that, the Chinese-Canadian developer founded Fusion Systems, which created trading systems for brokers.

Before launching Binance, Zhao joined various cryptocurrency ventures, including his job as CTO of Blockchain.com. While there, he became interested in Bitcoin (BTC), the crypto asset created by Satoshi Nakamoto.

Although Changpeng Zhao came from the traditional financial space, Bitcoin inspired him with its lack of borders and intermediaries. The pioneering cryptocurrency addressed money-related issues like supply, freedom to trade, and low fees.

The Founder of the Largest Cryptocurrency Exchange by Market Capitalization

In 2017, the ideals of Bitcoin inspired Zhao to build Binance and launch BNB, its native token.

The value of Binance increased to USD 4.5 billion in April 2019, but it kept growing. After receiving approval to operate in April, the cryptocurrency exchange has taken the first step to expand in Abu Dhabi.

According to the Bloomberg Billionaires Index, Zhao occupies 35^th place on the list of the wealthiest people. As of August 2022, he has an estimated net worth of USD 34.5 billion.

The executive recently commented that nobody has the right to criticize him for being of Chinese descent. He explained that his family had to leave for Canada due to political problems, not a lack of loyalty to China.

By Alexander Salazar

Bitcoin fell again by 19 thousand dollars, its fall was after the Jackson Hole comments of the Central Bank.

All markets fell after the US Central Bank’s Jackson Hole economic symposium; with the Nasdaq down almost 4% while Bitcoin was down 6%. According to market analysts, in the last seven days, the leading currency lost more than 12%.

Powell reaffirmed the Federal Reserve’s commitment to curb inflation and said the Fed will continue to raise interest rates at a pace that will cause “some pain” for the US economy.

As for inflation, he said it is still near its highest level in more than 40 years, and the bank will use its tools hard to combat it.

“Fear and Uncertainty” in Bitcoin

Many of the investors who have joined the crypto space in the last few years or so may have heard of the cryptocurrency trading platform Mt. Gox, which was headquartered in the special region of Shibuya in the city of Tokyo, Japan. Launched in 2010, it came to control around 70% of all transactions made with Bitcoin (BTC). This situation, however, changed for the worst in recent times.

Lark Davis, an analyst at The Wealth Mastery, comments on a great FUD (‘fear, uncertainty and doubt’) sentiment: “The entire process of rehabilitating the Mt. Gox funds has been slow and opaque,” Davis comments, “but the fact is that these Bitcoins will start to find their way into the market soon, but little by little. Not all at once.”

FUD sentiment is propelling as a result of the upcoming release of 137,000 Bitcoins released following the resolution of crypto broker Mt. Gox’s bankruptcy litigation.

Current Status

The last time Bitcoin was close to $15,000 was about two years ago. From then on, both the popular digital currency and other crypto assets staged an upward escalation that led Bitcoin to touch $69,000.

However, the Federal Reserve’s restrictive monetary policy to contain inflation has resulted in a sharp decline in cryptocurrencies in recent months.

Some Critical Data to Consider

It is worth noting that as of Sept 02, funding rates for Bitcoin and Ethereum, the top cryptocurrencies by market cap, remain negative for derivatives traders, suggesting a possible short-term bullish signal.

“A negative funding rate indicates that perpetual prices are below the reference price, meaning that short positions pay for long ones,” according to Binance, a major derivatives exchange. In other words, funding rates incentivize traders to buy perpetual futures contracts when the price is lower than an asset’s index price.

In the current market scenario, the abundance of shorts (sellers) in the perpetual market has created an interest in longs (buyers), as the prices of Bitcoin and Ethereum in the futures market are lower than their index prices.

Although there are many shorts in the market, the rising premium has put a demand for longs. This demand could create a bullish scenario in the short term, as traders look to capture value in the perpetual futures market.

As markets continue to battle inflation and interest rate threats, shorts will likely dominate trader sentiment. This will force the premiums to be in favor of the buyers so that the financing rates return to close to zero.

Traders can only hope that market participants are willing to take advantage of the current negative funding rates enough to create a short-term rally in the market. If not, the futures market will likely see a continuation of the trend in funding rates.

By Audy Castaneda

The announcement that a leading broker recently listed ADA caused the price of the altcoin to rise by 1.14%. The MACD recently crossed to the downside, indicating a further drop until the price reaches the support area at USD 0.4182.

Most cryptocurrency investors fear that the price of Bitcoin and the leading altcoins may drop sharply. Due to its low volatility in recent pullbacks, Cardano (ADA) emerges as a hedge asset against a possible crash in the short term.

However, some fundamental facts may help the price of ADA to rebound from lows not seen in weeks.

ADA is trading at around USD 0.4570 and has accumulated a 2.5% gain over the last 24 hours. While its daily trading volume is above USD 454.81 million, its market capitalization is about USD 15.44 billion, according to CoinGecko.

The Listing of Cardano on Leading Brokers Might Boost Purchases

A leading broker has recently listed Cardano, exposing many users to the token. Thanks to the announcement, the price of ADA went up by 1.14%.

The US Federal Reserve (Fed) may make a significant rate hike for September, ruling out rates above 4% by 2023. That would lead to making the US dollar stronger amid a recessionary market.

In addition, a relevant short-term fact is that the investor sentiment index points to extreme fear. While this indicator can warn of a change in the trend, it also explains that constant sales may occur.

The Analysis of the ADA Price Reveals a Bearish Trend

The high volume area of Cardano might push the bulls to nearby resistance if they defend the support at USD 0.4432. However, there is a wide gap between the 25-, 50- and 100-period exponential moving averages (EMA).

The Moving Average Convergence Divergence (MACD) crossed to the downside, indicating a further drop after a selling histogram. That decline will keep moving until reaching the support area at USD 0.4182, thus leading to a significant bullish rally.

In addition, the Relative Strength Index (RSI) crossed below its moving average, showing that ADA will be in oversold areas soon. Although this indicator stands at 43 points, it will drop further in the short term.

The Volatility and High Volume of ADA Might Lead It to a Pullback

If the bulls defend the support at USD 0.4432, there might be a bullish rally until the price retests the resistance at USD 0.4612. However, due to the volatility and high trading volume of ADA, the price will be unable to break through that level, leading to a reversal.

Meanwhile, Bitcoin is trading at around USD 20,075 and has accumulated a 1.6% gain over the last 24 hours. While its daily trading volume is above USD 23.10 billion, its market capitalization is about USD 384.23 billion, according to CoinGecko.

Investors should monitor the behavior of the market and external factors before buying ADA or any other crypto asset. That would allow having a better perspective of its current state to avoid the loss of money.

By Alexander Salazar