Crypto markets are partially recovering from Thursday’s pullback. Of the top 5 largest cryptocurrencies, Dogecoin turned out to be the only one in the green zone – its rate increased by 20% to more than $ 0.51.
Today’s rise in Dogecoin was preceded by the announcement by Coinbase CEO Brian Armstrong of the upcoming cryptocurrency listing.
“Our competitors support certain cryptoassets that are attracting large trading volumes and experiencing growth in market capitalization that we do not currently support, as well as offering new products and services that we do not offer. We welcome these challenges because they show that the market we serve is growing rapidly, but we must respond quickly to them, and this inspires us to act and grow, ”the company said.
Dogecoin will be listed on Coinbase in 6-8 weeks. The exchange, which has been very selective about adding new cryptocurrencies in the past, intends to rethink its practices, including starting to add newly issued assets that have no trading history, Armstrong said.
DOGE’s growth was also facilitated by the announcement of Tesla CEO Elon Musk.
“We are working with the Doge developers to improve the transactional efficiency of the system,” he wrote, calling the event “potentially promising” news.
Commentators urged Musk to indicate the names of these developers, given that almost no one is involved in the development of cryptocurrency.
“Doge has been out of service for years, literally a joke based on an outdated version of bitcoin with long-standing vulnerabilities,” wrote Blockstream CEO Adam Back.
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