Home / Dashcoin News /Brandt Says DOGE Bear Market Is Over, Kiyosaki Advises Buying BTC 'Before Fed Pivot,' Bitcoin.com Backed Ramírez Challenges For WBA Boxing World Title — Week In Review

Brandt Says DOGE Bear Market Is Over, Kiyosaki Advises Buying BTC 'Before Fed Pivot,' Bitcoin.com Backed Ramírez Challenges For WBA Boxing World Title — Week In Review

06 Nov 2022

On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between the Dogecoin Foundation, Bluepepper, and Mydoge wallet.

Almost four years ago in January 2019, Bitgo launched the popular ERC20 token wrapped bitcoin (WBTC). WBTC is essentially a wrapped version of bitcoin built with the ERC20 standard on top of Ethereum and every WBTC is backed by bitcoin (BTC), at a 1:1 ratio.

Today, statistics show there are 245,379 WBTC in circulation, worth roughly $5.2 billion using today’s exchange rates. On Wednesday, Bitgo revealed the company has built a similar initiative for the popular meme coin asset dogecoin (DOGE).

Wrapped dogecoin (WDOGE) tokens are also backed by a 1:1 ratio with dogecoin (DOGE). The WDOGE token has its own website that explains the project’s benefits, including utilizing WDOGE with decentralized finance (defi).

The website says “lend WDOGEs on defi protocols using your WDOGEs as collateral” and “get a loan in defi protocols using your WDOGEs as collateral.” The website’s frequently asked questions (FAQ) section explains that the developers will “soon publish a dashboard similar to WBTC’s dashbard” for proof of assets.

Bitgo’s blog post says the company will also offer two types of custody services and provide hot wallets for WDOGE as well. The WDOGE announcement follows dogecoin’s recent market tear after Elon Musk officially acquired the social media platform Twitter.

Dogecoin has managed to capture the eighth-largest position in terms of market capitalization size. Bitgo currently has a registration form for getting started with the wrapped dogecoin (WDOGE) project.

What do you think about Bitgo introducing a wrapped dogecoin token? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.

On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between the Dogecoin Foundation, Bluepepper, and Mydoge wallet.

Almost four years ago in January 2019, Bitgo launched the popular ERC20 token wrapped bitcoin (WBTC). WBTC is essentially a wrapped version of bitcoin built with the ERC20 standard on top of Ethereum and every WBTC is backed by bitcoin (BTC), at a 1:1 ratio.

Today, statistics show there are 245,379 WBTC in circulation, worth roughly $5.2 billion using today’s exchange rates. On Wednesday, Bitgo revealed the company has built a similar initiative for the popular meme coin asset dogecoin (DOGE).

Wrapped dogecoin (WDOGE) tokens are also backed by a 1:1 ratio with dogecoin (DOGE). The WDOGE token has its own website that explains the project’s benefits, including utilizing WDOGE with decentralized finance (defi).

The website says “lend WDOGEs on defi protocols using your WDOGEs as collateral” and “get a loan in defi protocols using your WDOGEs as collateral.” The website’s frequently asked questions (FAQ) section explains that the developers will “soon publish a dashboard similar to WBTC’s dashbard” for proof of assets.

Bitgo’s blog post says the company will also offer two types of custody services and provide hot wallets for WDOGE as well. The WDOGE announcement follows dogecoin’s recent market tear after Elon Musk officially acquired the social media platform Twitter.

Dogecoin has managed to capture the eighth-largest position in terms of market capitalization size. Bitgo currently has a registration form for getting started with the wrapped dogecoin (WDOGE) project.

What do you think about Bitgo introducing a wrapped dogecoin token? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.

In this week’s hottest stories from Bitcoin.com News, veteran trader Peter Brandt says the bear market that began for dogecoin back in May is over, Bitcoin.com-backed boxer Gilberto ‘Zurdo de Oro’ (Golden Southpaw) Ramírez steps up for a shot at the World Boxing Association light heavyweight title, the United States Federal Reserve’s key inflation gauge increases in September, and Robert Kiyosaki warns of real estate markets crashing and advises buying bitcoin before the ‘Fed pivot.’ All this and more, just below.

Veteran Trader Peter Brandt Says Dogecoin Bear Market Has Ended

Veteran trader Peter Brandt says the dogecoin bear market that began in May last year has ended. His comment came after the price of dogecoin soared following Tesla CEO Elon Musk’s acquisition of the social media platform Twitter.

Read More

The U.S. central bank’s key inflation gauge, the personal consumption expenditures (PCE) price index, increased by 0.5% in September, according to data released by the U.S. Commerce Department on Oct. 28. Meanwhile, markets expect with near-certainty that the Federal Reserve will codify its fourth consecutive rate hike by 75 basis points (bps) next month. While investors await the next bank rate increase, midterm elections start on Nov. 8 and reports say inflation is weighing heavily on the minds of most Americans.

Read More

Gilberto ‘Zurdo de Oro’ (Golden Southpaw) Ramírez, with Bitcoin.com in his corner, has a shot at the World Boxing Association (WBA) light heavyweight title as he faces Dmitry Bivol, also undefeated. In what is being hailed as the biggest fight of the year, Ramirez vs Bivol is the main event of a DAZN card that will be aired live from Etihad Arena in Abu Dhabi on November 5.

Read More

Robert Kiyosaki Warns Stock, Bond, Real Estate Will Crash as Fed Continues Rate Hikes — Advises Buy Bitcoin Before Fed Pivot

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that stock, bond, and real estate markets will crash as the Federal Reserve continues to raise interest rates. Noting that the Fed will pivot, he advises investors to buy bitcoin.

Read More

What are your thoughts on this week’s stories? Let us know in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.

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