Dogecoin Remains Muted Despite '69' Day Push, Bitcoin Strikes Major Recovery, Fork Bitcoin Gold (BTG) Skyrockets
Bitcoin (BTC) and other major coins staged a comeback on Wednesday night as the global cryptocurrency market capitalization spiked 7.69% to $1.62 trillion, but “69 Day” failed to send Dogecoin (DOGE) soaring.
What Happened: BTC traded 12.32% higher at $37,140.09 at press time over 24-hours. Over a seven-day period, BTC traded 0.96% lower.
See Also: How to Buy Bitcoin (BTC)
The second-largest cryptocurrency by market cap, Ethereum (ETH), traded 5.33% higher at 2,587.35 in a 24-hour period leading up to press time. ETH is down 4.54% on a seven-day basis.
While DOGE traded 7.15% higher at $0.34 at press time over 24-hours, the cryptocurrency failed to touch the $0.69 levels targeted by the backers of the so-called “69 Day.”
DOGE traded 4.88% lower against BTC but gained 1.93% against ETH.
Bitcoin Gold (BTG), a hard fork of Bitcoin that emerged in 2017, traded 52.23% higher at $77.66% in a 24-hour period leading up to press time. The cryptocurrency spiked 35.52% and 42.27% against BTC and ETH respectively.
Other notable gainers on Wednesday night in a 24-hour period included Kusama (KSM) and Telcoin (TEL), which traded 28.96% and 15.43% higher at $511.31 and $0.032 respectively.
Why It Matters: BTG developers have the stated aim of decentralizing BTC mining. The cryptocurrency can be mined with Graphics Processing Units or GPUs.
In the recent past, Bitcoin and Ethereum lookalikes have soared at times because there is a potential for confusion due to similar names, alongside the coins trading at lower levels serving as an attraction. BTG soared in April because of its ticker’s similarity to a Brazillian BTC fund.
On Tuesday, Kusama said on Twitter that its first real-word parachain, Statemine, began processing permissionless transactions after an on-chain upgrade last week.
“After some smooth running over the weekend, the time has come to move to the next stage: slot auctions,” said the project.
Telcoin has surged 18,071.5% since the year began. This week, the remittance-centric project announced service extension to 15 new markets including Indonesia, Bangladesh, Sri Lanka, Nepal, and Pakistan.
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