Crypto Pirates

Guy, the host of the crypto chain Coin Bureau, explains why, despite recent selloffs, he remains bullish on five major crypto assets.

Guy tells his 1.87 million YouTube subscribers that he isn't convinced the bull market has ended and believes that there are "crypto milestones ahead that could be a catalyst for a massive reversal."

Starting with Solana (SOL), the Coin Bureau host claims that the sixth-largest blockchain in terms of market capitalisation is still "technically in beta" and that a mainnet launch is in the works.

Guy predicts that the Solana mainnet will go live "around March of this year." A mainnet is a blockchain that is ready for use in the real world, as opposed to a testnet, which is a blockchain that is currently being tested or experimented with.

The Coin Bureau host also stated that the introduction of on-chain governance is the second milestone Solana is about to achieve.

Following that is Litecoin (LTC). Guy claims that Litecoin's upcoming MimbleWimble privacy-enhancing feature will make LTC the "world's most accessible cryptocurrency with privacy-preserving features."

"It will almost certainly generate a lot of demand for SLDs as well as a lot of positive price action per extension."

Dogecoin is the next step (DOGE). Guy believes that two upcoming Dogecoin milestones will generate interest in the dog-themed crypto asset.

The two milestones herald the launch of GigaWallet, a backend service designed to make it easier for businesses to accept Dogecoin payments.

Another significant achievement will be the release of a software development kit, which will enable developers to create new Dogecoin-related products.

"While these upgrades are unlikely to have a direct impact on the price of DOGE in the near term, the hype alone will almost certainly drive prices up."

Polygon, Ethereum's (ETH) leading layer 2 scaling solution, comes next (MATIC). The Coin Bureau host claims that Polygon has dedicated resources to developing additional scaling solutions for Ethereum and cites two projects that, once operational, could be bullish for MATIC.

"Polygon Miden and Polygon Zero are likely to generate the most demand for the MATIC token...

Polygon's upcoming scaling solutions are likely to be much more secure. And once they go live, there's a good chance MATIC will be lunar.

The Axie Infinity (AXS) play-to-earn game comes next. Guy believes that Axie Infinity's Ethereum-related sidechain, Ronin Network, will go public with its RON utility token in early February, potentially increasing the value of associated crypto assets.

"...I believe this list will have a positive impact on all play-to-earn crypto projects and, eventually, NFTs (non-fungible tokens)."

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The most recent incident in the industry is the hacking of Lympo, a sports NFT platform and Animoca Brands subsidiary. During the time of the hack, the platform lost approximately 165.2 million LMT tokens, which equated to $18.7 million.

Cryptocurrency hacking, while uncommon, remains one of the risks that some protocols must face.

The Lympo team confirmed the recent hacking of the platform on January 10 in a Medium update. The hackers, according to the report, gained access to the protocol's operational hot wallet and stole approximately 165.2 million LMT tokens.

The post also revealed that the cybersecurity attack resulted in the compromise of ten different project wallets. Furthermore, the majority of the hacked tokens were transferred to a single address, from which they were swapped on both Sushiswap and Uniswap for Ether (ETH) and later transferred elsewhere.

With the looting of the LMT from its hot wallets, the token's price fell by 92 percent to $0.0093.

The Lympo Team Will Resolve Disputes

Following that, the protocol's team issued a tweet stating that they are working to stabilise the situation and resume normal operations. Furthermore, the team mentioned that it had removed liquidity LMT from liquidity pools. This, according to them, will aid in reducing the crypto price disruption.

Furthermore, by the early hours of January 11, the team advised traders to halt the purchase and sale of LMT tokens. They intend to start by finishing their investigation and sketching out their potential course of action.

The removal of liquidity from pool trading LMT will have a negative impact on traders. This means that traders cannot buy or sell large amounts of tokens without incurring some value loss.

As a subsidiary of Animoca Brands, the Animoca team has thrown their full support behind Lympo. Yat Siu, the CEO of Animoca, stated in one of his speeches that they are assisting Lympo with recovery, though no specific mechanism has been implemented.

Another Cryptocurrency Hack on Hot Wallet

LCX, a centralised crypto exchange, lost about $7 million from its hot wallet on January 8, similar to Lympo's hot wallet security breach. This hack affects eight different crypto coins on the exchange.

The majority of the funds obtained through the LCX hacking were exchanged for ETH. The proceeds were then transferred to Tornado Cash, a privacy tool that conceals both the source and destination of ETH tokens. Various amounts of LINK, MKR, USDC, ETH, LCX, SAND, QNT, and ENJ were used in the LCX hacking.

The LCX informed its users of its compensation plan for their losses in a January 10 update. It also assures them that no personal data was compromised as a result of the attack.

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Blockchain Oracles have become increasingly popular in recent months. Here are the top five in terms of market capitalisation.

The blockchain ecosystem is divided into several sections. These sectors contribute to the overall efficiency of the space. As a result, Oracles are a significant trending category that plays a critical role in the efficient operation of DEXs.

This article will teach you about the Top 5 Blockchain Oracles who are gaining popularity. But first, define an oracle.

What exactly is an Oracle?

Oracles are centralised or decentralised protocols that connect the on-chain and off-chain worlds. They accomplish this by retrieving and validating real-world data (off-chain data). Furthermore, these platforms provide data feeds to complex smart contracts used in decentralised applications. One of the most well-known blockchain oracles is Chainlink.

As a result, the lack of access to real-world data of decentralised protocols makes oracles important. As a result, smart contracts require this data in order to make accurate decisions. By market capitalisation, the following Oracles are the most popular and promising:

1. Chainlink (LINK)

Chainlink is the most valuable blockchain oracle because it is extremely secure and flexible, and it is built on the Ethereum network. It also works to provide critical off-chain data feeds to complex blockchain smart contracts.

Chainlink can integrate real-world data feeds into on-chain smart contracts with ease. Furthermore, Chainlink currently secures over $70 billion in funding from top decentralised protocols such as Aave, Celsius, and Compound, among others.

LINK capitalised on the bullish trend in 2021, reaching an ATH of $53.00 by mid-year after trading around $13.00 at the start of the year. LINK has found stability despite the fact that the crypto market has been volatile in 2022. At the time of press, LINK was trading at $25.45 with a market cap of $11.8 billion.

2. Universal Market Access (UMA)

Based on market capitalisation, UMA is the second most valuable decentralised oracle project. The project's name is an abbreviation for Universal Market Access. Furthermore, UMA enables users to create various synthetic assets on the Ethereum blockchain.

Furthermore, the financial derivatives market is the primary focus of Universal Market Access. The protocol aims to decentralise the space and remove barriers that prevent average investors from participating in it.

This is accomplished by exposing them to real-world assets on Ethereum's blockchain. UMA is currently performing well in the market. It is currently worth $8.41. It also has a 24-hour trading volume of $12.8 million and a market capitalisation of $547 million.

3. WINklink (WIN)

WINkLink is the first full-fledged oracle built on the TRON ecosystem. The security of smart contract execution is ensured by this decentralised oracle network. It achieves this by connecting the real world to the blockchain space.

Furthermore, WINLink aspires to be able to relay dependable and verifiable data feeds. It accomplishes this by utilising its native token, $WIN. WINLink also pays network node operators with its native token.

$WIN, on the other hand, trades at $0.000457 and has a 24-hour trading volume of $218 million as well as a market capitalisation of $440 million.

4. Band Protocol (Band)

Band Protocol is a cross-chain decentralised oracle that connects real-world data and APIs to blockchain smart contracts. It accomplishes this in a secure and simple manner, which rewards validators. It rewards users who assist decentralised apps in verifying real-world data.

Furthermore, it ensures the correct execution of smart contracts by providing developers with a variety of new use cases to investigate. The Band Protocol now has a market capitalisation of $237 million. Furthermore, it is currently trading at $5.73 and has a 24-hour trading volume of $13.8 million. 

5. iExec Cloud Platform (RLC)

The iExec cloud is the final of the Top 5 Blockchain Oracles. This is a top decentralised cloud resource platform that bridges the gap between resource users and providers. As a result, users can monetise or rent computing power and data through a distributed infrastructure.

RLC is the iExec cloud platform's native ERC-20 token. It is currently trading at $2.75 with a market capitalisation of $195.8 million. Furthermore, it has a total supply of 87 million tokens and a circulating supply of 71.3 million tokens.

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Walmart, the world's largest corporation by revenue, appears to be preparing for a foray into the world of crypto and non-fungible tokens (NFTs). In addition, the company is laying the groundwork for its own cryptocurrency to compete with the likes of Bitcoin and Ethereum.

Walmart Is Getting Ready For The Metaverse

Walmart could be the next major corporation to enter the Metaverse.

According to a CNBC report from January 16, the company has filed several requests with the United States Patent and Trademark Office for virtual goods such as electronics, skincare products, and toys, among other things.

The seven filings were made late last month, and according to one trademark lawyer, Josh Gerben, Walmart has put a lot of effort into its Metaverse moves. "They're ferocious. There's a lot of language in these, indicating that there's a lot of planning going on behind the scenes about how they're going to address cryptocurrency, how they're going to address the metaverse and the virtual world that appears to be coming or is already here," Gerben told CNBC.

According to one of the filings, Walmart intends to launch its own cryptocurrency. While no official statement has been issued, Walmart's entry into crypto and NFTs should come as no surprise. The company advertised a position for a cryptocurrency and blockchain lead in August.

Later that month, the retail behemoth installed bitcoin ATMs in dozens of its US locations. This came to light shortly after Walmart became embroiled in a vicious pump-and-dump scheme. As previously reported by ZyCrypto, a press release referencing a partnership between Walmart and the Litecoin Foundation surfaced online, causing the price of LTC to skyrocket. However, after the mega-corporation confirmed that the announcement was all a hoax, the stock plummeted.

The Vibrant NFT Market

Over the last year, the NFT market has rapidly matured and expanded, with multiple big-name brands making big bets on tokenizable digital collectibles and virtual goods.

Facebook announced at the end of October that it was rebranding to Meta and embracing NFTs in order to gain a competitive advantage in the metaverse. Nike filed several trademark applications less than a week later, revealing its plans to sell downloadable virtual goods. The sportswear behemoth expanded its presence in the metaverse by acquiring RTFKT, an NFT sneaker studio.

Burberry, Louis Vuitton, and Gucci have all jumped on the bandwagon and released their own NFTs that can be used in metaverse applications.

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Bitcoin and crypto exchanges are critical components of the cryptocurrency world. People can use these digital platforms to convert fiat money into virtual coins and vice versa. Many people now use these platforms to profitably trade Bitcoin and other cryptocurrencies. When it comes to cryptocurrencies, modern investors and traders have a plethora of crypto exchanges to choose from.

But how do you find the best Bitcoin exchange? Perhaps you've noticed a slew of crypto exchanges claiming to provide the best services. Perhaps you've heard of cryptocurrency exchanges where traders and investors have lost large sums of money. As a result, you should select a reputable, secure, and dependable Bitcoin exchange. Here are the characteristics of a good Bitcoin exchange.

Help for Users

Perhaps you've discovered a cryptocurrency exchange with tutorials and a frequently asked questions section. However, you still have issues or questions that need to be addressed by the platform's representative. That means you can contact the company via live chat or email. In some cases, you may come across a forum where you can seek help from other users. A perfect crypto exchange provides a direct way to seek assistance. A platform, for example, may have a social media page with a representative ready to answer all of your questions.

Requirements for Know-Your-Customer (KYC)

Satoshi Nakamoto envisioned Bitcoin as a means of facilitating similar funds transfers. That is why very little is known about this enigmatic entity. International laws, on the other hand, require people to disclose personal information before transacting online. As a result, after registering, some platforms require customers to prove their address and name by uploading a passport ID. In some cases, a cryptocurrency exchange will use an automated system to resolve this challenge in seconds. Others require users to wait weeks for the KYC process to be completed.

Trustworthiness

There are numerous cryptocurrency exchanges around the world where people can buy and sell Bitcoin. However, not all of the platforms available are reliable. However, before registering with a crypto exchange, do some research on its reputation. Some websites review cryptocurrency exchanges to help prospects determine whether they are a good fit for them. For more information on bitcoin trading, go to bitcoinsmarter.org.

You can determine the safety of a cryptocurrency exchange by reading reviews about it. A reliable crypto trading platform allows you to trade Bitcoin safely, and it will not depreciate its value unexpectedly. When a platform's fee is reduced, you may notice deductions. However, if you buy low and sell when the value of Bitcoin has increased, you should profit.

Safety

Perhaps you've been hesitant to trade Bitcoin because you've heard stories about people who lost money buying and selling this virtual currency. In some cases, crypto exchange hacking has resulted in significant losses for traders. As a result, select a platform that employs effective security measures. An ideal cryptocurrency exchange ensures that no one can infiltrate it and steal Bitcoins from users. A good platform will also allow you to transfer funds from your exchange account to your crypto wallet at any time.

Services pertaining to finance

Crypto exchanges are commoditising their core services. As a result, some platforms believe that simple trading isn't exciting enough. As a result, they provide derivatives such as shorting, leverages, NFT art sales, and lending. If you are interested in such services, consider using a crypto exchange that allows you to do more than just trade Bitcoin.

Last Thoughts

Choosing a good Bitcoin exchange can have a significant impact on your overall cryptocurrency trading experience. As a result, take the time to research the characteristics of the Bitcoin exchange that you want to join in order to begin trading Bitcoin. Ideally, researching the various crypto exchanges available online will allow you to make a more informed decision.

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The Australian Football League (AFL) and Crypto.com (CRO) announced a new five-year partnership on Sunday evening. As part of the agreement, Crypto.com will serve as the AFL's Official Cryptocurrency Exchange and Official Cryptocurrency Trading Platform, as well as the AFLW's Official Cryptocurrency Trading Platform.

According to a Jan. 16 press release, the global cryptocurrency platform has also secured the exclusive naming rights partner for all Toyota AFL Premiership Season and Final Series matches: 'Crypto.com AFL Score Analysis.'

AFL is ecstatic to be working with Crypto.com.

According to the press release, the AFL is the first Australian-based sports league to enter into a partnership with Crypto.com. The NHL's Montreal Canadiens, Paris Saint-Germain Football Club, and the NBA's Philadelphia 76ers are among the other global sports brands that have already partnered with Crypto.com.

Meanwhile, the AFLW is the first elite women's sports competition to partner with Crypto.com.

AFL Chief Executive Gillon McLachlan stated in a press release that he is "delighted to partner" with Crypto.com. Customer and Commercial Executive General Manager at AFL Kylie Rogers elaborated:

Crypto.com has collaborated with a number of elite sporting codes around the world, and the AFL is proud to be the first Australian sports league and elite women's competition in the world to collaborate with an organisation that shares our passion for advancing the future of elite sport and technology.

The CEO of Crypto.com has stated that he is "committed" to Australia.

In a press release, Crypto.com Co-Founder and CEO Kris Marszalek stated that the company is "committed to investing in Australia." In terms of cryptocurrency adoption, the country is regarded as a "key market leader." He continued, saying:

"The AFL and AFLW are ideal venues for us to connect with Australian sports and culture. It is by far the most popular spectator sport in the country, having been played for over 150 years and bringing Australians together in a way that we are truly inspired by".

In addition, Crypto.com General Manager Asia & Pacific Karl Mohan stated that according to its consumer research, 53 percent of crypto investors in Australia are female. As a result, the newly announced collaboration "will resonate well with all footy fans" across the country. The executive continued, saying:

"We couldn't be happier with the timing of this partnership, which comes at a time when more Australians are becoming interested in cryptocurrency and the Australian Government is working to put in place the necessary regulations to protect consumers while fostering innovation".

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Fantom is now one of the top 25 cryptocurrencies in terms of market capitalisation.

According to Coingecko, the native token of Fantom has grown 15,000 percent in the last 12 months at the time of this press. This is due to Fantom's proprietary "Directed Acyclic Graph" (DAG) technology, which enables highly scalable, near-instant transactions at virtually no cost.

As a result, the more than 50 fantom-tokens have grown significantly. Some tokens, on the other hand, are very cheap and have a lot of growth potential. As a result, in this press, you will learn about the Top 5 Fantom Low Cap Altcoins to add to your portfolio.

1. SpiritSwap

The SpiritSwap protocol provides incentives for Fantom network participants by incorporating income sharing via the old AMM paradigm. Users can trade, stake, and farm on the platform.

In addition, the following are included in this protocol:

* Bridges: Exchange fantom-tokens for Ethereum, BSC, Polygon, Arbitrum, and Avalanche.

* Lend or Borrow: You can lend and borrow various tokens with up to 3.3 percent and 6.7 percent APY, respectively.

According to DeFillama, the Total Value Locked (TVL) in this protocol is $342 million, and its native token, $SPIRIT, has increased 1,400% in the last 6 months and is currently trading at $0.30.

2. Beethoven X

Beethoven X was the first AMM protocol to include Fantom. Balancer V2 was used to create this decentralised investment platform. This protocol focuses on three types of profiles:

* Investors: Investors can create a one-of-a-kind crypto index fund that includes any digital assets they desire.

* Traders: Balancer V2 facilitates efficient trading by aggregating crowdsourced liquidity from investor portfolios.

* Protocols: Instead of single staking, crypto businesses can use an 80/20 BPT to launch tokens in the most equitable way possible, capturing market volatility with little temporary loss.

BEETS tokens can be found in its liquidity pools at very high yields of up to 156 percent. You can also stake up to 144.30 percent in fBEETS tokens in its stake section.

According to DeFillama, its Total Value Locked (TVL) is $270 million, and its native token, $BEETS, has increased by 450 percent in the last month, with a price of $0.89.

3. LIquid Driver

Liquid Driver is a decentralised platform that facilitates liquidity throughout the Fantom ecosystem. The following features are available on the platform:

* Farm: You can earn $LQDR by staking LP tokens from other platforms such as SpiritSwap, SpookySwap, or Beethoven X.

* Earn Lock-Rewards: You can lock your $LQDR tokens and receive $xLQDR tokens, making you eligible for daily vault rewards.

* Earn Fees: You can earn fees from SpiritSwap by acquiring $linSPIRIT tokens, which are the wrapped version of $inSpirit.

You can also vote on the governance proposals included in this protocol. The Total Value Locked (TVL) is $208 million, according to DeFillama. Finally, the price of its native token, $LQDR, is $44, up 1,700% in the last 30 days.

4. HectorDAO

HectorDAO has collateralised and supported the $HEC token-based decentralised protocol. The reserve currency on Fantom will be $HEC, which will use an algorithmic reserve currency mechanism to ensure price stability. This token will also be backed by other decentralised assets.

HectorDAO has $113 million in TVL, according to DeFillama, and the price of $HEC is currently $61.14.

5. FantOHM

FantOHM DAO is an innovative multi-chain decentralised Reserve that aims to overcome inflation and traditional finance's limitations. Meanwhile, the protocol provides a steady stream of income to its investors.

This decentralised platform, which was the first of its kind, was launched on the Fantom blockchain in October 2021. It was also launched in the MoonRiver parachain two weeks later. Furthermore, its reserve protocol allows users to hold a mix of tokens such as MIM, DAO, and USDCD, among others.

HectorDAO has $25 million in TVL, according to DeFillama, and the price of $FHM is currently $126.88.

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Cryptocurrency trading is not free. However, being aware of these fees will ensure that you do not lose more than you expect the next time you trade your cryptocurrency.

If you own cryptocurrency, you've most likely used an exchange or something similar at least once or twice. Such platforms are extremely popular and useful, allowing people to perform actions such as buying, selling, and staking their money. However, most crypto platforms are not free to use, and there are a variety of fees you may encounter if you use one. So, what are the most common cryptocurrency fees that you might encounter?

1. Designer Fees

A maker-taker fee system is used by many large crypto platforms, particularly exchanges. Maker fees are a type of exchange fee that, as the name implies, are charged to platform creators. A maker typically places an order in an order book that will be filled by someone else later, rather than immediately. In a nutshell, they "create" the marketplace for other traders. As a result, makers are the best users an exchange can have because they provide liquidity to the platform.

In this case, liquidity refers to the ability of a crypto coin to be converted into traditional currencies such as USD or GBP. It is the bread and butter of an exchange that allows them to make a profit. Maker fees are often lower than taker fees because crypto exchanges favour makers, though some exchanges keep both the same.

Binance, Bittrex, and Coinbase Pro, for example, keep maker and taker fees equal, whereas other major exchanges like Bitfinex and Kraken charge a higher taker fee (though the difference isn't usually that significant).

2. Taking Fees

Takers, as opposed to makers, remove liquidity from an exchange platform (which the exchange does not want). A taker will take an order from an order book, consuming or removing the liquidity that was previously offered. When a user places an order, it is instantly matched by another order in the order book.

As previously stated, exchange platforms prefer makers over takers. Because takers remove liquidity, a platform is far more likely to charge them a higher fee for their transaction.

3. Spread Charges

Spread fees are frequently charged by exchanges that do not use the maker-taker fee structure. A spread fee is calculated by calculating the difference between the cost of a token, such as BTC or ETH, and the amount a user paid to buy or sell it. The average spread rate varies by exchange, but it is usually around 0.5 percent.

Some cryptocurrency exchanges, however, charge maker, taker, and spread fees. While this isn't very common, if you don't know which fees your chosen exchange charges, you could end up paying a hefty sum in fees. Swyftx and Coinbase are two prime examples of this. There are, however, a plethora of exchanges that only charge maker/taker or spread fees, so you won't be short of options if you want to avoid platforms that charge all three.

4. Gas Taxes

Gas fees are most commonly associated with the Ethereum blockchain, but this blockchain covers a wide range of cryptos and services, so you may encounter gas fees if you use it.

A gas fee is charged to users to compensate for the computing power required to process and validate transactions on the Ethereum blockchain. It essentially compensates the provider for the energy required to keep everything running on the blockchain. Running a blockchain as large as Ethereum necessitates massive amounts of computing power, so it stands to reason that users should contribute a small portion of the cost.

There are several scenarios in which you may be charged for gas. For example, if you want to use an Ethereum-based exchange or lending platform, such as Uniswap or Aave, you may have to pay a gas fee for transactions made in your name.

However, gas fees are not limited to the Ethereum blockchain. Other networks, such as Solana and Avalanche, have gas fees as well, though they are significantly lower than those charged by Ethereum. This is a major issue for Ethereum, and many people are put off using platforms built on this blockchain due to the high gas fees (which can amount to hundreds of dollars for just one transaction).

5. Fees for Withdrawal and Deposit

If you buy cryptocurrency on an exchange, borrow it on a lending platform, or build a crypto fund on any other platform, you may want to withdraw it. And, while you may believe that removing your own funds is always free on most platforms, this isn't always the case. Some large exchanges, such as Gate.io, CEX.io, and KuCoin, will usually charge you a fee for withdrawing cryptocurrency, though the amount of this fee is frequently dependent on the type of cryptocurrency you're withdrawing.

It's worth noting that some coins (typically those that are less popular and valuable) are free to withdraw on platforms that charge withdrawal fees. Before transferring funds, you should check to see if the coin you want to withdraw has a fee. If you want to avoid withdrawal fees entirely, use exchanges such as Kraken, Gemini, or FTX, which all charge zero withdrawal fees regardless of the coin being transferred.

Deposit fees, on the other hand, are probably the least common of all the fees discussed here, but they're also not uncommon. Some platforms, for example, charge you for depositing crypto funds into an account you hold with them, though the fee varies depending on the type of deposit.

6. Staking Charges

Over the last few years, staking has become an extremely popular feature offered by a wide range of exchange platforms. In a nutshell, staking entails putting some of your funds up as collateral in the Proof of Stake or Proof of Delegated Stake process, which allows you to earn a passive income. However, staking does not always come cheap.

Staking fees are typically deducted from your earned staking rewards rather than being set as an additional charge that a user must pay. These fees on a platform can be the same across the board or vary depending on the token being staked. Some platforms, such as Binance, do not charge staking fees.

To Save Money, Learn About Crypto Fees.

Before you conduct any type of transaction on your chosen platform, it's always a good idea to be aware of the various fees you'll be charged. Doing your research in this manner can save you money and open the door to a variety of other platforms that charge much less, or nothing at all!

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Baby Doge is a rising star in the memecoin community, steadily rising in the crypto market over the last few days, surging more than 115 percent in just two weeks.

So far in 2022, the token has reached over 1.2 million holders on 13 January, surpassed Ethereum to become the most traded token among the 1000 richest BSC wallets on 10 January, and briefly outnumbered the holders of the solid Shiba Inu community on Jan 4.

So it's no surprise that, after reaching an all-time high today, 16 January, Baby Doge was listed as one of the top trending searches not only on Twitter, but also on the popular crypto exchange CoinGecko. According to CoinGecko, it has been approximately two hours since Baby Doge reached its ATH of $0.000000006345 at the time of publishing this report.

Making Money Moves: Binance Petition and Rumored NFT Launch

Since Baby Doge crept into the ranks of the most traded token among BSC wallets, petitions to list this digital currency on US's top cryptocurrencies exchange Binance have grown significantly, prompting babydoge enthusiasts to launch a new wave of the same appeal after the memecoin's tweets crossed Binance's on January 16th.

In all likelihood, Baby Doge will be listed on Binance in the near future, as Changpeng Zhao, CEO of Binance, stated. "We will list a coin if it has a large number of users." That is by far the most important feature. Consider meme tokens; even though I don't understand them, if a large number of users use them, we list them. We make decisions based on community consensus; my opinion is irrelevant."

Some people in the crypto space have predicted the release of a BabyDoge NFT collection as well, but no announcement has been made on BabyDoge's official Twitter account thus far, aside from a poll that tested the waters on whether their community would be interested in them issuing one on 14 January.

Keep in mind that Baby Doge is still on the rise at the time of press, with a 3.5 percent increase in value in the last hour and a 19.1 percent increase in the last 24 hours.

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Anyone who has followed Bitcoin's erratic price swings since its inception may become dizzy.

When it was first introduced in 2009, a unit of the pioneering cryptocurrency was worth... nothing. According to data from SoFi, a student loan refinancing firm, the price rose to US$1 within about two years and then surged upward in value to around US$30 months later. But then it dropped to $5.

By 2013, the price of Bitcoin had reached a high of US$1,100, according to SoFi. It took off from there, reaching a high of more than US$60,000 in 2021, but with many stomach-churning swings. It was fluctuating between US$48,000 and US$46,000 in mid-December.

As a result of this roller-coaster ride, economists and experts have formed opposing camps regarding the future of not only Bitcoin, but the entire cryptocurrency sector.

For those who are unfamiliar, digital currency is a type of money that is created and tracked in cyberspace using blockchain technology, which is best described as a digital ledger. Unlike "fiat" currency like dollars, which is backed by the US government, crypto is largely untethered to controls like federal reserve banks. The digital ledger is viewable by all users, making it an unusually transparent form of currency. However, there are a lot of unknowns and questions about how crypto will be regulated in the future, which almost always leads to volatility.

Hugh Johnson, an eminent financial advisor in the Capital Region, listed cryptocurrency as a risk factor to watch in his annual market forecast for 2022. According to him, the combination of volatility and a lack of regulation poses a threat to the market's stability.

"It's difficult, at best, to make the case that (crypto) has a fundamental appeal that goes beyond being a possible hedge against inflation or financial disarray," Johnson said. "If it doesn't go beyond that... if there isn't a fundamental reason to buy Bitcoin, it becomes a price-only speculation."

According to Johnson's colleague Sean Leonard, chief investment officer of the Graypoint financial planning firm, cryptocurrency is a highly volatile asset, and the more "wallets" of average Americans are tied to it, "the more risk to household spending and economic health if cryptocurrencies decline materially."

Leonard noted that the volatility of cryptocurrency has made businesses hesitant to accept it as payment — and some high-profile frauds haven't helped to solidify crypto's place in the economy.

According to Johnson and Leonard, the most significant threat posed by crypto assets may be a weakening of the Federal Reserve's control over the money supply. If crypto assets increase as a percentage of liquid assets and trade freely, the Fed may lose control and lose its ability to influence economic activity through interest rate setting. (Libertarian supporters of Bitcoin and other forms of cryptocurrency, on the other hand, see this type of disruption to economic control systems as a feature, not a bug.)

Furthermore, the coding community can vote to increase the supply of a particular cryptocurrency. The Federal Reserve will not allow this power to be delegated, according to the advisors. Given that the vast majority of investors and citizens have faith in the global banking system, cryptocurrencies aren't necessarily meeting a "real economic need," according to Leonard.

Bitcoin is expected to be limited, with a maximum of 21 million "coins" produced.

Richard Plotka, director of the information technology and web sciences programme at Rensselaer Polytechnic Institute in Troy, is far more optimistic about the financial sector's acceptance of cryptocurrency. However, he believes that before crypto can be considered another form of fiat currency — currency legally issued by the government that is not backed by a physical commodity such as gold — it must become more widely accepted.

While Plotka, who wants to establish a research centre devoted to the developing crypto market at RPI, acknowledges the "wild west" nature of this world right now, he also observes steady evolution.

An in-depth investigation

Crypto, in his opinion, will change the economy — but not overnight.

"I believe it will eventually stabilise," he says, "especially once the government(s) start to get behind it."

According to Plotka, the current crypto system is unpredictable because not all of the kinks have been worked out, and almost anyone can influence what happens to the value of a digital currency.

He believes that the rise of cryptocurrency will be "disruptive" to banks and other currencies. Once the system's most troubling bugs have been addressed, he anticipates that middleman services — similar to those that service more traditional financial transactions — will facilitate blockchain transactions and make it accessible and easily transparent to less tech-savvy users.

Several banks and institutions have already begun to attempt to enter the sometimes perplexing crypto marketplace. For example, Mastercard collaborated with three cryptocurrency providers in the Asia Pacific region to launch crypto payment cards that convert digital currency into traditional currency. El Salvador, in Central America, has committed to building a city using Bitcoin-backed bonds.

And, in a sure sign that crypto is here to stay — or at least be taxed — the US government is implementing cryptocurrency transaction reporting requirements.

Plotka envisions cryptocurrency as the "gold of the future," with other currencies being measured against Bitcoin.

"It's the perfect electronic money for everyone," he says. "It's just a race to see who can get there first... and that's what this war is all about."

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