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Dogecoin’s (DOGE) Value and Transaction Volume Continues to Rise as New Financial Instruments Arrive

FN Media Group Presents USA News Group News Commentary


Vancouver, BC – April 18, 2022 – USA News Group –There’s been a resurgence in attention towards Dogecoin (DOGE), after a series of recent whale moves (extremely large transactions). Analysts have seen big things for DOGE, including a forecast of a return to its previous $0.73 level by the end of 2024, which would represent a 500% increase from the price as of March 22, 2022. While whale moves tend to trend the coin higher, it’s the addition of accessibility that ultimately brings on higher demand, including the Robinhood Markets, Inc. (NASDAQ:HOOD) announcement that its new Cash Card can invest your spare change into Bitcoin (BTC), Ethereum (ETH), and DOGE. Rumors are also circulating that eBay Inc. (NASDAQ:EBAY) could soon accept the same cryptocurrencies for payments. Other ways to obtain the memecoin include from global crypto exchange Coinbase Global, Inc. (NASDAQ:COIN), sometimes as Burger King rewards from Restaurant Brands International (NYSE:QSR) and for livestreaming on the popular social media platform Hello Pal International Inc. (CSE:HP) (OTCQB:HLLPF).


In May of 2021, the popular livestreaming social media platform Hello Pal International Inc. (CSE:HP) (OTCQB:HLLPF) made history when it became the market’s first listed company focused on DOGE mining. Reaction to the announcement was swift, causing a surge in traffic so heavy it temporarily caused a website outage.


As per the shift, users could now take part in the mining process of both Litecoin (LTC) or Dogecoin (DOGE) by either owning or partly-owning crypto mining rigs.


So far the decision’s paid off, as Hello Pal’s addition of Litecoin/Dogecoin mining rigs delivered strong additional revenues in the most recent quarter. Since then, it’s gone on add to its fleet of Antminer L7 mining rigs to its current total of 400.


“Our livestreaming operations continue to deliver strong operating results as we continue to diversify outside of China,” said KL Wong, Founder and Chairman of Hello Pal. “With the acquisition of the highly sought after L7 miners, we are excited to become a North American miner.”


After having moved its mining operations to North America, and while the majority of its livestreaming user base are in Asia, Hello Pal signed a letter of intent with one of Europe’s largest non-custodial crypto wallet providers by user numbers, UniCrypt—a provider of wallet and crypto-based remittance services to more than 14 million clients world-wide.


“We are tremendously excited at the prospects which this collaboration will bring to our efforts in increasing cryptocurrency usage among not only Hello Pal users, but to the world at large,” said KL Wong. “With UniCrypt’s ability to easily onboard new users and generate segregated wallets, we aim to provide many users across the world with their first cryptocurrency experience and introduce them to an international social community with a borderless payments system.”


As Hello Pals livestreaming operations continue to expand to new markets, the ability to carry out cross-border payments becomes more and more relevant, lending credence to UniCrypt’s services leading to a distinct advantage.


Late in the fall of 2021, Restaurant Brands International (NYSE:QSR) and its flagship chain Burger King appeased the crypto world by offering free crypto, and putting BTC, ETH, and DOGE on their menu. Done as a marketing promotion together with Robinhood Markets, Inc. (NASDAQ:HOOD).


The promotion gave away crypto to members of its Royal Perks loyalty program, whenever they spent $5 on the Burger King app. Most people, not surprisingly, received DOGE, as the prize pool will consisted of 2 million DOGE, 200 ETH, and 20 BTC. By those odds, that put the chances of receiving a Bitcoin at about one in 100,000.


“As a brand, we are always looking for ways to reward our most loyal guests with exclusive offers that are exciting, unique, and culturally relevant,” Burger King said in a statement. “Cryptocurrency (crypto) has been a hot topic of conversation recently, but we know it can be difficult to understand. That’s why we wanted to bring crypto to our guests in a way that was accessible and digestible (literally and figuratively)—through our food.”


Now Robinhood appears to be solidly backing Dogecoin, having reportedly the stable amount worth $4.9 billion (as of March 18, 2022) in DOGE—a number that allegedly accounts for 31.7% of circulating Dogecoins.


Through microtransactions that round up each transaction, users of Robinhood’s new card simply called “the Robinhood cash card” are being incentivized to invest their change into either stocks or cryptocurrencies—which would include DOGE.


As per the company’s blog post announcement: “When customers invest in themselves, Robinhood Money will give them a bonus of 10-100% (capped at $10) on their weekly round-ups. As they spend, customers can choose to round-up their change to the nearest dollar and invest it in their choice of assets. The weekly bonus is our way to show our support for our customers’ investing goals.”


Meanwhile, Coinbase Global, Inc. (NASDAQ:COIN) has been testing out a new subscription product that allows users to exchange digital assets without trading fees. According to CFO Alesia Haas, transaction revenues from trading fees historically made up the bulk of Coinbases revenue—generating $2.2 billion in transaction fees revenue in Q4 2021 alone.


“We’re taking steps to diversify this revenue and also grow our non-transaction revenue streams,” said Haas, during Coinbases Q4 earnings call. “We generated more than $500 million of subscription and services revenues this year, including $214 million in the fourth quarter. This was a 10x increase from 2020.”


Lastly, in the online marketplace that sells perhaps the widest range of goods on the internet (including NFTs), eBay Inc. (NASDAQ:EBAY) might soon take crypto payments according to a report from The Street, which included an interview with CEO Jamie Iannone.


As per the interview, eBay just completed its transition to manage payments, and they’re now managing $85 billion in volume on their platform directly.


“This gives us the ability to open up new forms of payment,” said Iannone. “And so we continue to evaluate other forms of payments that we should take on the platform. We don’t currently accept cryptocurrency on the platform.”


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Article Source: 

USA News Group




Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Hello Pal International Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Hello Pal International Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Hello Pal International Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Hello Pal International Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles.


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USA News Group is Source of all content listed above.  FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein.  The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM.  FNM is not liable for any investment decisions by its readers or subscribers.  FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM was not compensated by any public company mentioned herein to disseminate this press release.


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The post Dogecoin’s (DOGE) Value and Transaction Volume Continues to Rise as New Financial Instruments Arrive appeared first on Financial News Media.

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