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Huobi opens BabyDoge Coin deposits (BabyDoge Coin)

Huobi has announced that it is now offering support for BabyDoge Coin (BabyDoge). Huobi users will be able to purchase and sell the meme coin on one of the most popular exchanges in the globe. This is a significant development for BabyDoge Coin. Here’s why. The meme coins surged by nearly 14% after the news…

Huobi has announced that it is now offering support for BabyDoge Coin (BabyDoge). Huobi users will be able to purchase and sell the meme coin on one of the most popular exchanges in the globe. This is a significant development for BabyDoge Coin. Here’s why.

  • The meme coins surged by nearly 14% after the news broke.

  • BabyDoge also reported an increase in adoptions over the past few months.

  • The listing opens up the possibility for other exchanges.

Data Source: Tradingview

BabyDoge Coin (BabyDoge) – Where does it go from here

When coins are listed on major exchange platforms such as Huobi, you can expect positive price movements. When news of the listing broke, BabyDoge in fact rose by nearly 13%. The coin is climbing even higher. At press time, it had added an additional 6% in value over the last 24 hours.

Huobi is an enormous exchange. It’s a major exchange that supports the meme coin, so it is likely that others will follow. This coin has also been the subject of a lot social media buzz.

BabyDoge has recently surpassed 1 million Twitter followers. It was also among the most purchased coins by 1000 of the biggest whales on the BSC chain. It’s only a matter time before there is an explosion.

Should you buy BabyDoge?

While meme coins are a great way to make quick money, they also come with a lot of risk. These are speculative assets and rarely have significant fundamentals.

But BabyDoge is the most popular meme coin at the moment. As more exchange listings are made, we expect the coin will rise further. It is therefore a good investment at the moment.

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Bitcoin

Former Coinbase Business Developer: ‘There Wasn’t a Long-Term Case for Bitcoin Payments’

Nick Tomaino, a former business developer and marketing lead at Coinbase, explained how the idea of bitcoin for payments gradually lost its relevance in the market. Tomaino detailed that Coinbase rode this premise back in 2014 to raise $125 million in two funding rounds, but it was quickly clear that there was not a case [……
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Japanese Corporation Metaplanet Acquires More Bitcoin, Stock Price Soars

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Bitcoin

BTC slips amid poor debut for Hong Kong spot ETFs

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading…


  • Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading.
  • Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.


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