Dogecoin Rises 300% In A Week, Analysts Cry Bubble – April 16

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $60,734

Bitcoin price has fallen around 4% over the last day of trading, retreating from its new all-time high of more than $64,000.

Top-20 altcoins have fared a little better, as Ethereum drops 2%, THETA gains 21%, and Dogecoin has a tremendous 136% increase.

Top Stories for April 16, 2021 πŸ”₯

πŸ‘‰ Dogecoin Rises 300% In A Week, Analysts Cry Bubble

Dogecoin, a cryptocurrency based on the “Doge” meme, has spiked 300% in a single week, giving it a market cap of $34 billion.

The cryptocurrency started out as a joke in 2013, however it has now reached the top-10 cryptocurrencies in total market cap.

Some analysts are declaring that =the currency has reached a bubble phase, referencing the “greater fool” theory.

πŸ‘‰ Turkey To Ban Crypto Payments And Fiat On-Ramps

The Turkish Central Bank is banning cryptocurrency payments and fiat on-ramps to exchanges, according to an announcement today.

As of April 30, crypto payments and partnerships will become illegal, while only banks will be allowed to provide a fiat gateway onto cryptocurrency exchanges.

πŸ‘‰ Binance Burns $595M Of Binance Coin (BNB)

Crypto exchange Binance has announced that it has burned over 1 billion Binance Coin (BNB) tokens, worth $595 million.

It’s the largest burn in BNB history, in a quarterly event based on the exchange’s trading volumes over the period.