Gate.io Blog Daily Flash | Dogecoin Down 91%, Ethereum Holders’ Average Unrealized Loss is -18.4%

Daily Flash | Dogecoin Down 91%, Ethereum Holders’ Average Unrealized Loss is -18.4%

13 June 11:36

Today's Headline - Dogecoin's Value Drops 91% Since Last Year's Highs as DOGE Mining Revenue Plummets

The Dogecoin army have been watching the value of Dogecoin plummet week after week. While it remains a top 10 cryptocurrency, Dogecoin (DOGE) has lost a lot of value since the asset's all-time high on May 8, 2021. More than a year ago today, DOGE was changing hands at $0.739 per unit, and today DOGE's 24-hour price range is between $0.064 and $0.072 per coin.

In addition, DOGE lost more than 76% of its mining revenue last year. DOGE miners reached an all-time high in hashrate on April 23, 2022 at block height 4,196,514, when it reached 1.34 petahash per second (PH/s).

Just a few weeks ago, Musk said that SpaceX, like Tesla, will soon be accepting dogecoin as a payment method for goods. He also recently talked about the idea of adding DOGE as a payment method on Twitter.

Chart of the Day - Ether fell below Thursday's price of $1,781 with an average unrealized loss of -18.4%.

With the price declines over the weekend, the Ethereum market has fallen below the $ETH Realized Price of $1,781.
This means the market is holding an average unrealized loss of -18.4%.

The Realized Price of ETH 2.0 deposits is higher at $2,404, with an unrealized loss of -39.6%.

Influencer of the Day - Solana decides to change Twitter name to Solano after Jack Dorsey misspells Solana

On Friday, the Twitter co-founder revealed Block subsidiary TBD's intention to create Web5, an "extra decentralized" platform built on top of the Bitcoin blockchain to make up for what Dorsey sees as Web3's failure to protect user privacy and personal data.

Dorsey is a well-known Bitcoin maximalist who regularly derides all cryptocurrencies and chains other than Bitcoin as inferior and unreliable.

Shortly after Dorsey's tweet on Friday, Solana changed his Twitter display name to Solano. the Twitter cryptocurrency community quickly took notice of Solana's move, which many now call "Solano" to continue the joke.

Buzzes of Yesterday - #Bitcoin Mining Hits 300 Exahash, #Do Kwon Must Heed SEC Subpoena, #Alibaba to Build NFT Marketplace

Bitcoin's Hashrate Hits an All-Time High Nearing 300 Exahash per Second

Appeals court rules Do Kwon, Terraform Labs must heed SEC subpoena served in September

Turkey's First Blockchain Metaverse Expo Fair in Istanbul

Alibaba Cloud launches service to build NFT marketplaces

Cardano Creator Says Bear Markets Are "Quite Comfortable"

Author: Gate.io Researcher Peter L.
* This article represents only the views of the researcher and does not constitute any investment advice.
*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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BTC/USDT -0.64%

SOL/USDT -2.68%

DOGE/USDT -0.94%

ADA/USDT -1.79%

LUNA/USDT -2.67%

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Daily Flash | Dogecoin Down 91%, Ethereum Holders’ Average Unrealized Loss is -18.4%

Today's Headline - Dogecoin's Value Drops 91% Since Last Year's Highs as DOGE Mining Revenue Plummets

Chart of the Day - Ether fell below Thursday's price of $1,781 with an average unrealized loss of -18.4%.

Influencer of the Day - Solana decides to change Twitter name to Solano after Jack Dorsey misspells Solana

Buzzes of Yesterday - #Bitcoin Mining Hits 300 Exahash, #Do Kwon Must Heed SEC Subpoena, #Alibaba to Build NFT Marketplace

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