search
Homeweb3.0Grayscale Considers Expanding Its Offerings to Include Dogecoin-Based Products
Grayscale Considers Expanding Its Offerings to Include Dogecoin-Based ProductsOct 17, 2024 pm 03:48 PM
dogecoin Grayscale Crypto Products DOGE ETF

Crypto asset management giant Grayscale has recently announced its consideration of expanding its offerings to include products based on the popular meme cryptocurrency

Grayscale Considers Expanding Its Offerings to Include Dogecoin-Based Products

Crypto asset management giant Grayscale has recently announced its consideration of expanding its offerings to include products based on the popular meme cryptocurrency, Dogecoin. In a recent blog post, Grayscale highlighted that Dogecoin has caught the company’s attention as a potential asset for future investment products.

As the king of meme coins, a Dogecoin-based crypto product would be a turning point for the entire meme coin niche.

Recently, Grayscale filed an application with the SEC for a Bitcoin Spot ETF, which was ultimately rejected. However, the company’s recent blog post may indicate a shift in strategy towards offering products based on other popular cryptocurrencies, including meme coins.

In the blog post, Grayscale outlined its approach to selecting cryptocurrencies for its investment products, which involves considering a wide range of factors such as market capitalization, liquidity, regulatory considerations, and technological innovation.

According to the blog post, Dogecoin is one of a few cryptocurrencies currently under consideration for Grayscale. Grayscale broke down its list of cryptocurrencies under consideration into five primary categories: currencies, smart contract platforms, financials, culture, and utilities.

Most of the assets under review fall within the categories of smart contracts and utilities, which focus on blockchain technology innovations and practical applications. However, Dogecoin stands out, as it has been placed in the “consumption and culture” category, which covers cryptocurrencies that cater to consumer-driven activities.

In the blog post, Grayscale also highlighted the growing popularity of meme coins among retail investors, particularly during the recent bull market of 2021. According to the company, meme coins have attracted a significant following due to their potential for rapid price appreciation and their alignment with broader cultural trends.

Grayscale noted that meme coins have largely remained a separate category from mainstream cryptocurrencies, with limited institutional involvement. However, the company believes that this dynamic could be shifting, especially with the recent interest in meme coins among some of the world's largest asset managers.

If Grayscale were to launch a Dogecoin product, it would mark a significant turning point for the meme coin. With Grayscale boasting over $10 billion in assets under management, a Dogecoin product would open the door to substantial inflows of capital from traditional investors, who have previously shown interest in meme coins but hesitated to directly invest.

Moreover, an institutional product for Dogecoin could help legitimize the meme coin and other meme-related cryptocurrencies in the eyes of traditional investors. This, in turn, could lead to increased interest and investment in the broader meme coin niche.

On the other hand, the Dogecoin blockchain has been buzzing with activity in the past seven days. According to recent on-chain data, this surge in network participation has pushed the number of daily active addresses on the Dogecoin network to its highest point in eight months.

At the time of writing, Dogecoin is trading at $0.1188 and has increased by 2.4% in the past 24 hours. Notably, the Dogecoin trading volume has increased by 42% in the same time frame, which also points to a surge in activity on the blockchain.

The Dogecoin price has also increased by 16% in the past 30 days and is now on the verge of breaking through an order block of $0.12 on October 1. A break above this level would put Dogecoin towards a minimum target of $0.129.

The above is the detailed content of Grayscale Considers Expanding Its Offerings to Include Dogecoin-Based Products. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Neiro (NEIRO) Token Skyrockets to $100 Million Market Cap, Aims to Be the Next DogecoinNeiro (NEIRO) Token Skyrockets to $100 Million Market Cap, Aims to Be the Next DogecoinAug 01, 2024 am 03:10 AM

The crypto community might be set to witness the birth of the next Dogecoin following a recent announcement made by the beloved Kabosu's owner.

Neiro, the Meme Coin Inspired by Atsuko Sato's New Dog, Raises Question MarksNeiro, the Meme Coin Inspired by Atsuko Sato's New Dog, Raises Question MarksJul 30, 2024 am 03:20 AM

As you've been following on Kriptokoin.com, meme coin projects are gaining a lot of traction in the crypto world, despite being risky.

Dogecoin (DOGE) Price Prediction: CHances of a Breakout and Trend Reversal Are Under Threat as the Bears Dominate the Falling WedgeDogecoin (DOGE) Price Prediction: CHances of a Breakout and Trend Reversal Are Under Threat as the Bears Dominate the Falling WedgeJul 30, 2024 pm 06:51 PM

With a major rejection in Bitcoin from the $70K mark, the broader market sentiment is at risk. Amidst the growing supply, the meme coins are at a crossroads

Elon Musk Still Believes "There Is Merit" in Bitcoin and Some Other Cryptos, but Has No Plans to Promote ThemElon Musk Still Believes "There Is Merit" in Bitcoin and Some Other Cryptos, but Has No Plans to Promote ThemJul 30, 2024 am 09:21 AM

The highly-awaited Bitcoin 2024 Conference came and went by without Tesla/SpaceX CEO Elon Musk making an appearance alongside former President Donald Trump

Dogecoin (DOGE) Large Transaction Volume Spikes 29.27% to $1.1B, Network Activity JumpsDogecoin (DOGE) Large Transaction Volume Spikes 29.27% to $1.1B, Network Activity JumpsJul 29, 2024 am 03:54 AM

According to IntoTheBlock data, dog-themed cryptocurrency Dogecoin (DOGE) is reporting a staggering $1.1 billion in large transaction volume

Memecoins Return to the Spotlight: Dogecoin (DOGE) Eyes $0.5, Shiba Inu (SHIB) Gears Up For a 2x JumpMemecoins Return to the Spotlight: Dogecoin (DOGE) Eyes $0.5, Shiba Inu (SHIB) Gears Up For a 2x JumpAug 01, 2024 am 03:36 AM

Memecoins, a popular, if not the most widely known, crypto narrative, returns to the spotlight. Dogecoin (DOGE) and Shiba Inu (SHIB), the top memecoins and dog-themed cryptocurrencies, gather momentum for their next bull leg.

Dogecoin And Shiba Inu Whale Transactions Rise As Crypto Whales Make Moves In Meme CoinsDogecoin And Shiba Inu Whale Transactions Rise As Crypto Whales Make Moves In Meme CoinsJul 25, 2024 pm 02:40 PM

As the market retraces from its weekend surge, Crypto whales are beginning to make moves in meme coins such as Dogecoin and Shiba Inu once again.

2024年Dogecoin币会上涨吗?会涨到$0.5吗?2024年Dogecoin币会上涨吗?会涨到$0.5吗?Feb 28, 2024 am 09:19 AM

2024年Dogecoin币会上涨吗?会涨到$0.5吗?分析:技术发展和项目进展:Dogecoin的核心开发团队正在积极推进项目的开发,包括升级网络、提高交易速度和安全性等。这些技术改进可能会增强狗狗币的吸引力和实用性,从而提振其价格。整体加密货币市场的发展:2024年,加密货币市场有望继续快速发展。随着比特币及其他主流加密货币的普及,越来越多的人开始了解和接受加密货币的概念,并投资其中。这种整体的市场发展将为狗狗币提供了更多机会,因为更多的投资者可能会将目光投向那些有潜力和前景的加密货币项目,

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

R.E.P.O. Energy Crystals Explained and What They Do (Yellow Crystal)
2 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Repo: How To Revive Teammates
4 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Hello Kitty Island Adventure: How To Get Giant Seeds
3 weeks agoBy尊渡假赌尊渡假赌尊渡假赌

Hot Tools

WebStorm Mac version

WebStorm Mac version

Useful JavaScript development tools

SublimeText3 Linux new version

SublimeText3 Linux new version

SublimeText3 Linux latest version

ZendStudio 13.5.1 Mac

ZendStudio 13.5.1 Mac

Powerful PHP integrated development environment

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

SublimeText3 English version

SublimeText3 English version

Recommended: Win version, supports code prompts!