Home / Business / As Dogecoin Rally Mutes ‘Cheaper’ Ethereum, Bitcoin Look-Alikes Rise

As Dogecoin Rally Mutes ‘Cheaper’ Ethereum, Bitcoin Look-Alikes Rise

Dogecoin (DOGE) traded nearly 17 percent lower Thursday night, as the cryptocurrency was stagnant from March. Ethereum Classic (ETC) and Bitcoin Diamond (BCD) charting other courses

What happened: DOGE traded 17.10 percent below the previous $ 0.53. Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk’s appearance on “Saturday Night Live”.

Musk promised social media this week that he would definitely “touch” Summin about The DOGEFATHER “on a variety show.

However, the Shiba Inu-themed digital currency has increased 71

.69% over the past seven days. But the increase in DOGE was overshadowed by others such as ETC and BCD.

See also: How to buy Dogecoin (DOGE)

ETC was up 288.47% over seven days, while BCD was up 200.1% over the period.ETC traded 36.08% higher at $ 128.65 and BCD was up 79.82% at $ 6.76.

The ETC hit an all-time high of $ 176.16 on Thursday and was down 24.75% from it.

Why is this important: Ethereum Classic is formed by a hard fork of Ethereum (ETH) blockchain in 2016 Bitcoin Diamond is a fork of Bitcoin (BTC) as made in 2017

See also: Why is Ethereum Classic Surging different from Ethereum?

ETH was trading down 0.98 percent at $ 3,456.75 in press time, while BTC traded 1.3 percent lower at $ 56,292.17 at press time.

ETC’s annual profits surpass both BTC and ETH and are gaining the attention of social media investors.

Denis Vinokourov, head of research at Synergia Capital, said ETC appreciation “appears to be dominated by the ‘cheaper’ Ethereum play and the retail trend pushing DOGE to sky highs,” according to CoinDesk.

There is a chance that investors are confused between Bitcoin and Ethereum. The recent Bitcoin fork – Bitcoin Gold (BTG) – May gain popularity due to the symbol’s similarity to Bitcoin funds.

Read on: Is Elon Musk’s SNL Hosting Tank Dogecoin Price Profitable?

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source link