Dogecoin co-founder condemns memecoins, DAO wants to buy Denver Broncos and BTC tourism rises 30% in El Salvador: Hodler’s Digest, Feb 20-26

Comes every Saturday Hodler’s Digest will help you follow every important news story this week. The best (and worst) odds, adoption and regulatory highlights, leading coins, forecasts and much more – a week on Coin-Crypto in one link.

Top stories this week

Former Cisco Employee Launches DAO to Buy Denver Broncos

A newly launched decentralized autonomous organization called BuyTheBroncosDAO is seeking enough capital to buy the NFL’s Denver Broncos for approximately $4 billion.

The project offers fans of varying wealth levels the chance to own some of the Broncos, as there is no minimum requirement for how much they must contribute to participate in the DAO.

“The goal is essentially to set up infrastructure so fans from all walks of life can take ownership of the Denver Broncos,” one of the DAO organizers and former Cisco employee Sean O’Brien told this earlier this week. week to CNBC.

Dogecoin founder speaks out against ‘meme coins’

Dogecoin co-founder Billy Markus this week destroyed memecoin shillers and projects that aren’t about memes or the community but are instead “made by people trying to get rich from other people trying to get rich.” ” to destroy.

“Satire has a few slightly clever elements. jokes are funny. Spam, lying about who is involved in a project, making ridiculous promises, desperately trying to get Elon’s attention to promote you, etc. are not smart or funny,” he said on Twitter.

In particular, Markus highlighted Binance Smart Chain tokens, arguing that they have “made the internet worse in every way” while pointing out the massive amount of spammers flooding social media platforms with their dubious crypto ads.

Bitcoin Collapses as Putin Announces ‘Special Military Operation’ in Ukraine

The crypto market collapsed on Thursday after reports that the Russian government had invaded Ukraine, with assets such as Bitcoin, Ether and XRP falling 7.3%, 9.5% and 9.2% respectively.

The news of the invasion led to major setbacks from people around the world, including members of the crypto community. Russia-born Ethereum co-founder Vitalik Buterin denounced the move on Twitter, declaring:

“This is a crime against the Ukrainian and Russian people. I want to wish everyone safety, even though I know there won’t be. Glory to Ukraine.”

On Friday, crypto markets reversed their declines from the post-Russian invasion after the United States announced it would introduce sanctions against major Russian banks.

Trudeau Revokes Emergency Powers, But Crypto Case Grows

Canadian Prime Minister Justin Trudeau on Thursday reversed the use of the Emergencies Act. The order was invoked after mass protests across the country, including at critical border crossings between the United States and Canada. The order allowed the government to freeze $8 million from 210 bank accounts linked to Canadian “Freedom Convoy” protesters.

However, the highly controversial situation in Canada now appears to be calming down, with Trudeau noting that “we are confident that the existing laws and statutes are now sufficient to protect people.”

The move to invoke the Emergency Act a week earlier caused much resistance and discussion; it also reiterated the viability of crypto as the protesters were able to raise around 21 BTC after being cut from banks and popular crowdfunding platforms like GoFundMe.

Tourism in El Salvador Has Increased 30% Since Bitcoin Adoption, Minister Says

Earlier this week, Salvadoran Tourism Minister Morena Valdez claimed the country’s tourism industry has grown by more than 30% since the Bitcoin law was passed in September 2021.

In particular, Valdez stated that the influx of tourists from the US has increased significantly to 60% of all travelers going to the country by the end of 2021.

“We conducted a poll to check activity according to the before and after of Bitcoin. The tourism sector grew in November and December. This has increased by more than 30%,” Valdez said in an interview with local news agency El Salvador News English.

Winners and losers

At the end of the week, Bitcoin (BTC) is with $39,335ether (ETH) Bee $2,718 and XRP Bee $0.71† The total market capitalization is $1.76 trillion, according to to CoinMarketCap.

Among the top 100 cryptocurrencies, the top three altcoin gainers of the week are Anchor Protocol (ANC) at 63.75%, Terra (LUNA) at 32.59% and Maker (MKR) at 4.13%.

The top three altcoin losers of the week are Convex Finance (CVX) at -27.07%, Harmony (A) at -19.65% and Oasis Network (ROSE) at -19.41%.

To learn more about crypto prices, read Market Analysis from CoinTelegraph

Most Memorable Quotes

“Politicians who are against Bitcoin are of the same brand as those who are against the Internet. It is also an indicator of where they get their money from.”

Aarika Rhodesprimary education teacher and congress candidate

“Companies won’t hesitate to spend tens of millions on marketing, but not a fraction of it to make sure there’s something left to bring to market.”

Tree of AlphaTwitter personality

“It is interesting to note the deep bullishness for cryptocurrencies. Even in an extremely bearish crypto market where values ​​would fall by 80%, less than half of investors say they would reduce their investments or exit the market.”

Marion Labouredirector of macro strategy and thematic research at Deutsche Bank

“I’m not quite sure what the SEC intends to prove in the XRP trial.”

Joseph Hallattorney and former director of policy at the U.S. Securities and Exchange Commission

“If you’re not 100% sure you’ll always be on the right side of those in power, you’d better buy some #Bitcoin.”

Samson MaaiChief Strategy Officer at Blockstream

“We need Bitcoin as legal tender in Mexico.”

Indira KempisMexican senator

“Remember that dogecoin was made 8 years ago. as satire. making fun of the crazy coins. irony. satire. Today’s ‘meme’ coins are not even memes. they are made by people who want to get rich from other people who trying to get rich, to each his own, but it is indeed something else.”

Billy Markusco-creator of Dogecoin

“Institutions with algorithmic trading bots think BTC is a technology stock.”

Ki Young JuCEO of CryptoQuant

Forecast of the week

Ethereum to $10K? Classic Bullish Reversal Pattern Indicates Potential ETH Price Rally

Ether, the crypto industry’s second-largest asset by market capitalization, has typically traded between $2,750 and $2,350 in the past week, according to CoinTelegraph’s ETH Price Index

While ETH’s price action experienced turbulence throughout the week, a chart pattern from market analyst and Twitter personality Wolf revealed a possible price target of more than $10,000.

An analyst’s weekly ETH candle chart indicates a possible ascending triangle pattern, which, long story short, could cause ETH to cross $10,000 based on how the chart pattern typically plays out. Wolf’s chart points to a target of about $13,250. Weekly card patterns in general, however, typically take longer to play than card patterns created over shorter time frames.

Other thoughts and observations on ETH were also mentioned in Coin-Crypto’s article on Wednesday, including the possibility of a bulltrap – a type of upward price counterfeiting currency – that would invalidate Wolf’s bullish price target.

FUD of the week

SafeMoon pump-and-dump lawsuit targets Jake Paul, Soulja Boy and others

A number of A-list celebrities and pesky influencers have gotten into trouble for promoting an alleged pump-and-dump scheme linked to the BNB Chain-based SafeMoon token.

In a class-action lawsuit, the team behind the token is accused of looting several popular figures in order to trick people into investing in SafeMoon through misleading information. Some of the more famous names include musicians such as Nick Carter, Soulja Boy, Lil Yachty and YouTubers Jake Paul and Ben Phillips.

According to court documents, SafeMoon and its subsidiaries mimicked Ponzi schemes by tricking investors into buying the tokens under the pretense of unrealistic profit potential. In particular, it is also alleged that project executives promptly fled the project when the price of SafeMoon began to plummet last year.

‘Carpets’ Seller $30 Million CryptoPunks Collection Minutes Before Sotheby’s Auction

FUD alarm bells went off this week among art collectors after 0x650d, the pseudonymous owner of the CryptoPunks NFT “Punk It!” collection, suddenly withdrew from their Sotheby’s auction moments before it was due to go live.

The collection, which contains 104 CryptoPunks, is valued at $30 million and is said to be the “highest NFT sale of all time.” In the wake of the canceled auction, the prospective seller appeared to be making fun of Sotheby’s as they discussed their motives in a flaming and sarcastic manner.

For example, 0x650d first posted “nvm, decided to hodl” on Twitter and followed that up with a meme captioned “Taking punks mainstream by appeasing Sothebys.”

Kazakh Ministry Stops Illegal Crypto Mining Activities

Earlier this week, 13 crypto mining operations, accounting for a staggering 202 megawatts of power consumption, were shut down by the government of Kazakhstan.

The Ministry of Energy of the Republic of Kazakhstan announced the shutdown on Monday as part of an ongoing move to regulate the local BTC sector and eradicate illegal mining activities.

Bitcoin mining has become extremely popular in the country since China banned crypto mining last year, with Kazakhstan now responsible for the second largest percentage of the global hash rate. Although the government allows crypto mining, miners are required by law to obtain licenses, pay electricity bills on decent terms and pay taxes.

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