The founder of litecoin just tapped out of his position amid this year’s 7,500-percent rally.
Apart from a few collectible coins, Charlie Lee sold or donated all of his stake in the fifth-largest cryptocurrency in the world this week as it lingered near $330.
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Crypto check: Looking Beyond the Dogecoin Hype
Synopsis
Cryptocurrencies derive much of their value from the underlying project it is attached to. Most cryptocurrencies are associated with a project on the blockchain network trying to solve real-world problems.
ET Spotlight Special
After Bitcoin, crypto investors and media houses have a new favourite in town; Dogecoin. The cryptocurrency has attracted a lot of eyeballs because of its surge. It grew over 5000% in 2021, with a 400% gain in just 30 days. These sky-high gains have stirred up many investors to buy into DOGE, a result of which is evident on platforms like
CoinSwitch Kuber that are experiencing boosted engagement from its users. But is this cryptocurrency really worth the hype? Let’s find out.
May 5, 2021
The artist beeple, aka Mike Winkelman, in early 2021 sold a series of digital pieces for $69 million, the highest price ever paid for digital art.
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Minutes before midnight March 22, two art collectors got into a heated bidding war at a charity auction for a climate organization. The auction was happening online, but it was eliciting the same staggering dollar amounts and tense drama of an in-person auction house.
The item in contention was a single picture of a futuristic scene. The bidding had already exceeded $5 million, but Justin Sun, a 30-year-old tech entrepreneur, kept getting outbid by just $50. Ultimately, Sun offered an even $6 million and the auction was over. Sold, to the cryptocurrency millionaire.
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