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Elon Musk again expands support for Dogecoin, this is what he said

Part of Dogecoin’s popularity is due to Tesla CEO Elon Musk’s approval of cryptocurrencies earlier this year. (Image credit: Reuters)

Elon Musk responded to a CoinDesk article on Twitter, reporting that “Ethereum’s high transaction fees have prevented small investors from accessing DeFi.”

  • News18.com
  • Last updated:December 5, 2021 10:24 IST
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Elon Musk, CEO of Tesla and SpaceX, has long been a cryptocurrency supporter and will not hesitate to express his opinion on Twitter. In fact, he doesn’t even hesitate to admire certain ciphers, such as Dogecoin, commonly known as “Memecoin” among investors. Earlier this year, the price of Dogecoin rose significantly (and fell) after Musk expressed its support for Dogecoin through a series of tweets. The 50-year-old billionaire seems to be re-expanding support for Doge through the popular cryptocurrency Ethereum.

Musk In response to a CoinDesk article on Twitter, “Ethereum’s high transaction fees have prevented small investors from accessing DeFi.” -Bank. Experts claim that DeFi sites running in open source code with algorithms that set rates in real time based on supply and demand represent the future of financial services. According to a CoinDesk article, Ethereum’s high transaction fees have prevented retailers from using these decentralized exchange (DEX) platforms.

In response to this article, Musk replied “Dooooge” and seems to support Dogecoin.Interestingly, Dogecoin Most Google cryptocurrencies According to Google Trends data, this year in the United States. A study by a financial research firm named Advisor Coach showed that Dogecoin has the highest number of investors wanting to invest in Memecoin from a total of 23 states, including Illinois, Florida, New Jersey and Hawaii. The survey was conducted across the United States to establish the cryptocurrencies that people in each state want to invest in, based on search.

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Elon Musk again expands support for Dogecoin, this is what he said

Source link Elon Musk again expands support for Dogecoin, this is what he said

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