Cryptomania Hits Stocks and Exchanges as Record Investment Flows into Digital Coins, Including DOGE

VANCOUVER, B.C., Nov. 11, 2021 /PRNewswire/ -- USA News Group - So far in 2021, investors have put in a record US$8.9 billion into crypto products—nearly 33% more than all of 2020's crypto spending. Among the coins that grew in traction over the past year, Dogecoin (DOGE) has many in the market speculating how the coin will be spent freely in the real world. Early reports allege Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk is testing DOGE for payments, under a code-name 'Shiba'. Meanwhile, AMC Entertainment Holdings, Inc. (NYSE:AMC) has been quite open about wanting to accept DOGE at its theaters. These moves could open up a huge window stocks that provide a platform where users can gain access to DOGE exchanges such as Robinhood Markets, Inc. (NASDAQ:HOOD) and Coinbase Global, Inc. (NASDAQ:COIN), or the livestreaming platform Hello Pal International Inc. (CSE:HP) (OTCQB:HLLPF), that gives exposure to Dogecoin mining.

Mining DOGE vs other bigger digital currency such as Bitcoin (BTC) or Ethereum (ETH) continues to be a profitable mining venture.

Back in May, Hello Pal International Inc. (CSE:HP) (OTC:HLLPF) officially became the first listed company with primary exposure to mining Dogecoin.

The move has been a resounding success, as HP announced record quarterly revenue for the period ended August 31, 2021, while crypto mining accounted for more than 58% of the company's gross profit of $2,488,454 in 2021 H1.

"Revenue increased 208% compared to the six months ended 2020 with minimal spending on advertising and user generation during that period," said KL Wong, Founder and Chairman of Hello Pal. "With our acquisition of mining rigs, we anticipate that revenue and profit will continue in an upward trend for the balance of the fiscal year."

Hello Pal's platform currently gives users access to 12,500 DOGE/LTC mining rigs, with a combined hash rate of 6.25 TH/s. An online Dogecoin Mining Calculator forecasts this hash rate can mine 281,953.44891531 DOGE (+US$80k) per day.

Shanghai Yitang, Hello Pal's partner in cryptocurrency mining, continues to help manage these mining operations to ensure the decentralized locations of the mining rigs across various green renewable energy mining sites.

"We are very pleased to see the progress we have made as a Company, and believe that the results are evident in the financial figures," added Wong. "We are particularly excited in the continued internationalization of our business, as reflected in our expansion of livestreaming services outside China and the integration of cryptocurrency into our platform through our newly launched crypto-mining operations."

Coinbase Global, Inc. (NASDAQ:COIN) is currently the easiest way to buy and sell cryptocurrency, including DOGE. In mid-November, Coinbase CFO Alesia Haas is set to participate in a fireside chat at the 2021 FinTech Conference on November 15^th.

COIN saw its stock rise by 40.4% in October. With optimism surrounding the exchange's third-quarter earnings, COIN stock rose along with the coins it's famous for trading.

However, customers were upset with the platform, when it went offline in the middle of a trading surge involving DOGE's fellow dog coin cousin, SHIBA took off, effectively blocking users from trading Bitcoin and Dogecoin also. This was the second major outage, as the exchange went down in May as well.

When their brokerages or crypto wallets go offline, the impact on traders can be significant.

Last year in May 2020, online brokerage Robinhood Markets, Inc. (NASDAQ:HOOD) went down for two days, causing customer losses, including one who claimed he'd lost $52,000 after being unable to trade on one of the year's most volatile trading days.

After customers demanded that Robinhood compensate them and filed a class action lawsuit against the company, the Financial Industry Regulatory Authority, fined Robinhood $70 million for previous outages and other infractions.

Now another set of bad news hit Robinhood, as millions of users were allegedly compromised by a security breach on the platform. Approximately 7 million customers had their security breached, with the most extensive personal data hit about 300 users.

Robinhood officially stated that the breach has now been contained, that law enforcement has been informed and the party responsible demanded payment in an extortion attempt.

Caleb Sima, Robinhood's chief security officer, said in the company's statement, "As a Safety First company, we owe it to our customers to be transparent and act with integrity."

After accepting dogecoin earlier, users of Robinhood are now clamoring for the platform to accept Shiba Inu, so that they can experience again the gains they saw through DOGE.

Back in December of 2020, Elon Musk of Tesla Inc. (NASDAQ:TSLA) fame made the cryptocurrency soar, when he put out the simple tweet: "One word: Doge." He made it soar again, in February with a one-word tweet response "Doge" and later "Dogecoin is the people's crypto."

Now, it's rumored that he's working on testing Dogecoin payments under a code-name 'Shiba'.

Listed in between the existing choices of Order with Card and Order with Bitcoin, an analysis of Tesla's source code showed the options to "Order in SHIBA".

Twitter user @Tree_of_Alpha revealed through an 8-part thread that the "Order with Shiba" page works redirects into a "processing" page for DOGE payments, but not SHIB.

Meanwhile, AMC Entertainment Holdings, Inc. (NYSE:AMC) is examining whether to also include accepting SHIB as payment after already accepting Dogecoin. AMC previously announced it will accept Bitcoin for things like concessions before year's end.

CEO Adam Aron said during a recent shareholders meeting that AMC is on track to hit that goal.

"I can confirm today that we have been exploring with third parties over the past few months both how we can accept cryptocurrency and if it is feasible for AMC to consider even launching our own cryptocurrency," said Aron. "Similarly, I can confirm to you today that we are now in conversation with multiple major Hollywood studios about the concept of joint venturing commemorative NFTs related to major film titles that show in our theaters."

Not stopping there, AMC is now even pondering launching its own cryptocurrency, and NFTs for movies. On an investor call, Executives said they are talking with Hollywood studios about creating commemorative nonfungible tokens, or NFTs, related to major films.

For More Information please visit: https://usanewsgroup.com/2020/11/16/live-streaming-is-taking-the-market-by-storm/ 

Article Source: 

USA News Group

http://USAnewsgroup.com

[email protected]

DISCLAIMER:

Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Hello Pal International Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Hello Pal International Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Hello Pal International Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Hello Pal International Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein. The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Media Contact Information:
FN Media Group, LLC
Media Contact e-mail:  
[email protected] 
U.S. Phone: +1(954)345-0611

SOURCE USA News Group

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED