您现在的位置是:People want to trade Doge: Su Zhu >>正文
People want to trade Doge: Su Zhu
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛922人已围观
简介DOGE has four times the brand recognition of Ethereum in non-crypto circles says ZhuPowered by Tesla...
DOGE has four times the brand recognition of Ethereum in non-crypto circles says Zhu
Powered by Tesla CEO Elon Musk’s endorsement, Dogecoin has had an impressive year, growing from being valued at $0.003 last August to trading at $0.27 at time of writing. Addressing questions on the future of the meme coin’s spectacular price surge, fund management firm Three Arrows Capital CEO Su Zhu explained his bullish thesis for Doge.
Speaking on an episode of “The Game Theory of Crypto Podcast” hosted by crypto researcher Hasu, Zhu stated that Dogecoin’s ability to attract the attention of blue-collar investors with its meme coin persona will prove crucial in its growth going forward.
Historically, DOGE’s price volatility and origin have encouraged sophisticated crypto investors to stay away from the cryptocurrency. Zhu addressed this by questioning why a digital asset has to be serious to be successful.
Agreeing with Musk’s comments about Dogecoin being the ‘people’s crypto’, Zhu pointed out that Doge had four times the brand recognition of Ethereum in non-crypto circles. He added that anyone could own whole amounts of the cryptocurrency and even the “man who drinks beer can understand it”.
Furthermore, DOGE is the only currency that common investors advocate for on social media, not because they are paid to do it but because they like the coin, the CEO said, lauding the Dogecoin community’s organic promotion of the currency.
He then cited data from retail trading app Robinhood to show the extent of Dogecoin’s popularity among blue-collar investors. Robinhood recently reported that DOGE transactions accounted for 62% of its total crypto revenue in Q2 of 2021.
“The best way to understand DOGE, I think, is that if you look at Robinhood, which is sort of the most blue-collar style of crypto investing, DOGE is 60% of their crypto revenue. And crypto is 40% of Robinhood’s revenue, so Robinhood is basically a DOGE proxy,” Zhu explained, adding that“people want to trade Doge.”
Dogecoin’s upcoming upgrade has only piqued the interest surrounding the meme coin as it is expected to not only resolve scalability issues but also maximise its base layer transaction rate leading to faster and cheaper transactions.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/38112.html
相关文章
Analyst: this bitcoin stock is a better buy than Coinbase
People want to trade Doge: Su ZhuD.A. Davidson analyst downgraded Coinbase stock on Thursday.Chris Brendler says RIOT has potential t...
阅读更多
Top 10 Most Popular Cryptocurrencies in 2022 So Far
People want to trade Doge: Su ZhuThe most popular are usually the ones with the highest market cap. Of course, people already know ab...
阅读更多
Shiba Inu Price Prediction: Murrey Math Lines
People want to trade Doge: Su ZhuShiba Inuprice plunged to the lowest point since January 19 as demand for cryptocurrencies waned and...
阅读更多