Cryptocurrency ethereum hits new record high again; dogecoin slumps

NEW YORK/LONDON/SINGAPORE - Cryptocurrency ethereum climbed to a new peak for a third straight day on Monday on continued optimism about further growth in decentralized finance or "DeFi", although some analysts said it was overvalued at current levels.

"The myriad possibilities of decentralized ledger technologies should be likened to a technological force of nature that will continue to disrupt finance and other businesses," said Paolo Ardoino, chief technology officer of cryptocurrency exchange Bitfinex. But some analysts said ethereum's increasing valuation was not underpinned by data of how widely it is used.

Blockchain data provider Glassnode, in a research report on Monday, said there are indications that a portion of bitcoin capital is rotating toward ethereum and dogecoin.

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

India’s COVID-19 cases dip from peak, calls for shutdown mountCalls grew for India to impose a nationwide lockdown as new coronavirus cases and deaths held close to record highs on Monday, increasing pressure on the government of Prime Minister Narendra Modi. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

DFA employee at Philippine embassy in India dies of COVID-19The Department of Foreign Affairs announced that an employee who worked in the Philippine embassy in India has died due to COVID-19.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

'Do you want Tesla to accept Doge?' Musk asks Twitter usersElon Musk early on Tuesday asked his followers in a poll on Twitter whether Tesla Inc should accept payment in dogecoin.
Source: ANCALERTS - 🏆 26. / 50 Read more »

'Do you want Tesla to accept Doge?' Musk asks Twitter usersElon Musk early on Tuesday asked his followers in a poll on Twitter whether Tesla Inc should accept payment in dogecoin. 為何不
Source: ABSCBNNews - 🏆 5. / 83 Read more »

Dogecoin is still in the dog house after Elon Musk's 'SNL' appearanceDogecoin prices rebounded Tuesday morning after Tesla CEO Elon Musk asked his nearly 54 million Twitter followers if they want his car company to
Source: CNN Philippines - 🏆 13. / 63 Read more »