Crypto Daily News from ZBG Exchange

1. Crypto Long & Short: Why Bitcoin’s Taproot Upgrade Matters

The most important impact for the investing market overall: It’s a reminder that Bitcoin is a technology. Plus: What’s next for dogecoin?

Why is this important? It’s not just the benefits the upgrade brings, which are significant. Taproot is important because it reminds us of what Bitcoin is.

2. ‘Call Me the Dogefather’: Elon Musk Explains Crypto to SNL’s Audience

Dogecoin has risen 130-fold this year, for a market capitalization of about $80 billion, on par with France’s largest bank.

“It is,” the Tesla and SpaceX CEO joked.

Musk, the billionaire trying to ferry people to Mars and build electric cars for Earth, hosted NBC’s Saturday Night Live program on, uh, Saturday night. As expected, the meme cryptocurrency dogecoin came up. During a Weekend Update segment (a parody of news shows), Musk explained cryptocurrency generally to the NBC Show’s audience, before hosts Michael Che and Colin Jost repeatedly asked him “what is dogecoin.”

3. Ether Sets New All-Time High of More Than $3.8K

The new high water mark of $3,855.40 came less than a week after the cryptocurrency topped $3,000 for the first time.

The new all-time high price of $3,855.40 came less than a week after the cryptocurrency topped $3,000 for the first time. Ether has since given back some of its gains and is now at $3,839.98, up 8.96% over the last 24 hours.

The price of the second-largest cryptocurrency by market cap has quadrupled just this year alone, outperforming bitcoin (BTC, +0.86%) (BTC), the largest cryptocurrency, which has doubled.

Ether now has a market capitalization of $443.8 billion, exceeding that of Johnson & Johnson, as well as that of Walmart and UnitedHealth.

Should Ether continue on its upward trend it wouldn’t be long before its market cap is half that of larger sibling bitcoin’s $1.107 trillion.

The latest price move comes amid signs of growing interest in ether from big institutional investors and Wall Street firms.

Late last month, the Wall Street investment-research firm FundStrat predicted ether could surge to $10,000 this year, powered by enthusiasm over DeFi’s growth and advances in Internet-based financial applications.

As for bitcoin, the price of the leading cryptocurrency is nearing $60,000 again, up 2.73% to $59.207.09 at press time.

4. Dogecoin Falls as Musk Underwhelms and Reality Intrudes

Given the hype, Musk needed to have been perfect. He wasn’t.

Since Tesla head and self-proclaimed “CEO of dogecoin” Elon Musk tweeted last month that he would be hosting Saturday Night Live on May 8, the excitement level surrounding the meme-based cryptocurrency ascended to even more astronomical levels in the lead-up.

After all, since Musk’s tweets had acted as jet fuel to dogecoin’s price all year, just imagine what an appearance on national television could do!

5. Musk’s SpaceX Accepts Dogecoin as Payment for Sending a Satellite to the Moon

The DOGE-1 Mission to the Moon will launch aboard a SpaceX Falcon 9 rocket in Q1 2022.

Calling it the first-ever commercial lunar payload in history paid entirely with dogecoin, Geometric Energy Corp. said the DOGE-1 Mission to the Moon will launch aboard a SpaceX Falcon 9 rocket in Q1 2022.

“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” SpaceX Vice President of Commercial Sales Tom Ochinero said in the release. “We’re excited to launch DOGE-1 to the Moon!”

The payload will obtain lunar-spatial intelligence from sensors and cameras on-board using communications and computational systems, GSC said in the statement.

SpaceX is helmed by billionaire Elon Musk, the most well-known advocate for dogecoin, a meme-based cryptocurrency started as a joke in 2013. Propelled in large part by Musk’s tweets, the price of doge coin has risen more than 11,000% year to date. As a result, dogecoin has seen increased adoption and use cases, including now payment for a trip to the moon.

Founded in July 2018, ZBG is a Hong Kong-based cryptocurrency exchange, a global platform of ZB.COM.

ZBG.com has quickly become one of the top 10 exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.

Currently, ZBG supports 11 languages, with an average daily activity of more than 160,000, providing over 3 million users around the world with trustworthy cryptocurrency trading, contract trading and other crypto asset investment services.

In the future, ZBG will continue to expand its global market and provide stable, safe and fast blockchain project listing, diversified crypto assets and blockchain derivatives investment services to more blockchain enthusiasts around the world.

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ZBG Team

May 10, 2021

Launched in 2018, ZBG is a Hong Kong-based crypto exchange, a subsidiary of ZB.COM. ZBG is focused on providing a trading platform for new and innovative tokens