Crypto Market Overview April 27th | Dex-Trade
Dogecoin Is Trying Hard, But "Masks Effect" Is Not Eternal
After the day before yesterday, the news that Elon Musk bought Twitter, the entrepreneur’s favorite coin soared by almost 30% in a day, but this did not last long. As after all the previous DOGE price boosts related to the “Mask Effect,” the main meme crypto went into a downtrend and, at the time of this writing, lost about 12% per day. Interesting fact. The local maximum of the current DOGE movement was recorded not even at the time of the purchase of 100% of social networks’ shares, but much earlier — on April 5, when Musk decided to join the Board of Twitter Directors and acquired 9.2% of the company's securities. However, now the legendary cryptocurrency is trading at $0.1417, down from $0.1641. Recall that the “finest hour” for DOGE was May 2021, when Musk several times tossed its cost almost to the Moon (if I can say this about $0.73) with just mentions or “beautiful gestures.” Since then, fans of the meme crypto have been waiting for its former glory to return, although even the discovery of Tesla merchandise sales for DOGE did not particularly affect the value of the coin in the long run. Now experts consider Dogecoin a good payment coin, which is beginning to be accepted by many representatives of the service sector, up to restaurants and coffee shops. However, this is far from being the best asset to HODLers, as there is no real reason for its value to rise in the foreseeable future.
It Turns Out That Virgil Griffith Had Accomplices: US Court Accuses Crypto-Businessmen of Working for DPRK
Just a couple of weeks ago, U.S. authorities sentenced Ethereum developer Virgil Griffith to a 63-month prison sentence for passing valuable crypto information to the North Korean government. But the story didn’t end there, as a U.S. District Court today indicted two European citizens, Alejandro Cao De Benos and Christopher Emms, for attending the same blockchain and cryptocurrency conference in North Korea that violated U.S. sanctions back in 2019. It’s alleged that Cao De Benos and Emms, along with Griffith, provided instructions to the DPRK on using blockchain technology and cryptocurrencies to launder money and evade sanctions. Investigators also noted that businessmen continued to provide additional crypto services to the country under US sanctions. The court's indictment also alleges that Cao De Benos and Emms recruited Griffith to speak at a conference in North Korea in 2019 and arranged for his trip. In addition, the prosecution provided information that Cao De Benos coordinated Griffith's participation in the conference with the government of the DPRK. Businessmen were charged with one count of conspiracy to violate US sanctions. This wording carries a maximum penalty of 20 years in prison.
Crypto-Mortgage for Real Estate Purchase Appeared in USA
US-based decentralized finance project USDC.homes is offering DeFi mortgages to homebuyers in Texas, allowing them to purchase houses with cryptocurrencies without liquidating assets first. According to project representatives, borrowers from other states will also be able to use this service “soon.” The project offers both unsecured and secured lending options. That is, borrowers can secure crypto-mortgages using their Bitcoin (BTC), Ethereum (ETH), US dollar-pegged stablecoins (like USDC) and other popular cryptoassets as collateral. Home buyers can borrow up to $5 million from USDC.homes. The loan will be provided at an interest rate of 5.5%, but the down payment must be at least 20% of the total purchase price. Borrowers can also monitor their credit score offline when applying, but the application will be processed online. The credit system is built on the basis of a DeFi project operating on the Teller protocol. It was originally intended for lending and borrowing digital assets. However, USDC.homes is the first case of using the protocol for financial transactions in the “world of things.”