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Take Up the Fake's Burden

09/02/2022
|
  • BTC
  • bitcoin
  • NFT
  • Dogechain
  • TerraLuna
News list

Bitcoin transfers are not what they seem; NFT is no worthier than booze; meme coins and fake coins continue imitating real ones, making holders richer/poorer - in the new episode of crypto-news we discuss if there is anything trustworthy left at all nowadays...

Half of Bitcoin Orders are Fake

Forbes published the results of a study which showed that over 50% of all the orders processed with the first cryptocurrency in the markets are in fact fake. According to their specialists, the statistics of the largest and most respected platforms do not show the real state of events.

The blame is on the so-called Wash Trading - traders who buy and resell the same asset over a short time span. This is made to create a fuss around the asset and make it appear more popular increasing its trading volumes.

The actual number of orders with Bitcoin is two times lower than CoinMarketCap or other respected platforms claim. The daily turnover of the first crypto is actually only 128 billion USD. But even this number is highly questionable since part of the information comes from crypto exchanges that are almost not regulated, so their figures cannot be sharp - or so believe the specialists who made the research.

Half of Bitcoin Orders are Fake

NFT in Exchange for Beer

In our crypto news, we keep updating you on what is happening in the incomprehensible world of NFT; today, we'll tell you about an actually useful non-fungible token. BarrelDAO (a decentralised autonomous organisation) released a collection of NFTs that can be exchanged for beer - real beer, not just pictures of it.

And it won't be just any beer, but beer from a limited collection called Solana Summer Shandy. There still are some pictures, but they will be placed on the beer cans and taken from the previous token collections released on Solana; they will have characters from such NFTs as Okay Bears, DeGods, Solana Monkey Business, Degenerate Ape Academy.

Overall, there will be 333 tokens, and each can be exchanged for 9 litres of beer, which is 16 cans. So, with one such NFT costing 1,35 SOL, one beer can would be worth only 2,5 USD which is quite cheap, especially since the delivery fee is included. However, it only applies to the USA, Great Britain, and Australia.

NFT in Exchange for Beer

Terra at the Bottom Again, Dogechain Growing Despite All Odds

Terra LUNA, recovered from its full crash, has crashed again by almost 90% after its predecessor Terra LUNA Classic reached its historical minimums. Its price was at its highest only when it entered the market at the end of May. After that, it has been solely declining.

Meanwhile, Dogechain (DC) is reaching new heights and has updated its maximums. The currency grew by over 60% in spare minutes even though many believe it to be a scam project. The developers claim that Dogechain is a solution for Dogecoin owners that would give them access to new opportunities and apps.

Still, Dogecoin leaders announced quite plainly back in July that they have no relation to that project. Despite everything, Dogechain soars high. What would it turn out to be? A scam project aimed at sucking funds out of Dogecoin holders or a real thing? Follow our crypto news and be the first ones to find out!

Terra at the Bottom Again, Dogechain Growing Despite All Odds

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