{"id":124466,"date":"2021-05-10T14:49:03","date_gmt":"2021-05-10T14:49:03","guid":{"rendered":"https:\/\/precoinnews.com\/?p=124466"},"modified":"2021-05-10T14:49:03","modified_gmt":"2021-05-10T14:49:03","slug":"watch-elon-musks-snl-monologue","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/watch-elon-musks-snl-monologue\/","title":{"rendered":"Watch: Elon Musk&#39;s &#39;SNL&#39; monologue"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>Dogecoin may have started as (and may still be) a joke. But serious cryptocurrency investors who&#8217;ve bet on ethereum are laughing all the way to the bank. <\/p>\n<p>Ethereum, or ether for short, hit a new record high of above $4,100 Monday morning.<br \/>\nEther is the world&#8217;s second most valuable cryptocurrency, trailing only <span>bitcoin<\/span> <span>(<span>XBT<\/span>)<\/span>. <\/p>\n<ul><\/ul>\n<p>It has soared 465% so far this year \u2014 and more than 30% in just the past week \u2014 thanks in large part to the fact that it&#8217;s the currency of choice behind popular non-fungible token (NFT) transactions that have taken the art and sports collectible worlds by storm. <\/p>\n<ul><\/ul>\n<p>Ether is quickly catching up to bitcoin in market value too. All of the ethereum currently in circulation are worth about $480 billion, while bitcoin&#8217;s market cap is just over $1 trillion. Bitcoin and ether make up about 63% of the total market value for all cryptocurrencies.<br \/>\n<img decoding=\"async\" alt=\"Ethereum&amp;#39;s 27-year-old creator is now a billionaire\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210504085749-vitalik-buterin-file-restricted-large-169.jpg\"><\/p>\n<p>Bitcoin has gained traction on Wall Street, particularly as a hedge against inflation and fluctuations in the value of government-backed currencies \u2014 almost like a digital gold. <span>PayPal<\/span> <span>(<span>PYPL<\/span>)<\/span> and <span>Square<\/span> <span>(<span>SQ<\/span>)<\/span> also let users buy, sell and hold the crypto.<br \/>\nBut dogecoin, the Shiba Inu-themed cryptocurrency that <span>Tesla<\/span> <span>(<span>TSLA<\/span>)<\/span> and SpaceX CEO Elon Musk has repeatedly touted (although he quipped on the most recent &#8220;Saturday Night Live&#8221; that it&#8217;s simply a &#8220;hustle&#8221;) is now the world&#8217;s fourth largest crypto.<br \/>\nStill, even after a 10,000% surge this year to a combined value of about $66 billion, dogecoin still makes up less than 3% of the total crypto market. Dogecoin prices have also plunged more than 20% since Musk&#8217;s SNL appearance&#8230;from about 65 cents to just over 50 cents.<\/p>\n<ul><\/ul>\n<p>There are legitimate questions about whether dogecoin has any serious applications for businesses and the broader economy \u2014 outside of Musk&#8217;s orbit that is.<br \/>\nCanadian research and development and consulting firm Geometric Energy announced Sunday that it was launching a lunar payload on a SpaceX Falcon 9 rocket and that it was paying in dogecoin. Financial terms of the deal were not disclosed though.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/05\/10\/investing\/ethereum-dogecoin-cryptocurrencies\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)Dogecoin may have started<\/p>\n","protected":false},"author":3,"featured_media":124465,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Watch: Elon Musk&#039;s &#039;SNL&#039; monologue - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/watch-elon-musks-snl-monologue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Watch: Elon Musk&#039;s &#039;SNL&#039; 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