Dogecoin Dominates (Up 50%), Chainlink Is Up 25% And New York Targets Miners

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Last Updated on 5 May 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin and Ether both recovered from a short selloff in the crypto markets while Dogecoin continues to destroy everything on its path. Currently trading above $0,64 cents and up 50%.

Over in the top 20 of CoinMarketCap we also note the strong performances of both Litecoin (up 17%) and Chainlink (up 25%). Chainlink is trading above $50.

At the time of writing, Bitcoin is trading around $55k while Ether is still well above $3k.

Advertentie.

Rapper Meek Mill is a Dogecoin supporter

US rapper Meek Mill, who has a massive following on social media (on Twitter alone he has 10 million followers), boosted Doge even further yesterday, saying: I just grabbed some doge I’m tired of missing out.

It comes after other celebrity endorsements for the memecoin by Tesla CEO Elon Musk, Shark Tank star and billionaire Mark Cuban, rapper Snoop Dogg, rocker Gene Simmons and even celebrity chef Guy Fieri.

According to a CNBC analyst, the rise of Dogecoin in the past week is due to the upcoming presentation stint of Elon Musk on SNL this weekend.

Of course, if he would read CryptoTips, he would have known that a few days ago already.

New York Goes Green

Meanwhile Bitcoin miners are being targeted in New York as one of the biggest cities in the US goes green. With local congresswoman Alexandria Ocasio-Cortez as its prime example, it was clear that any new politician in the region would have to outbid het green new deal in order to gain sympathy from the public.

As such, Democrat Kevin S. Parker submitted a bill which forbids Bitcoin mining in the state of New York for the next three years, unless it can be done carbon neutral.

His document:

Establishes a moratorium on the operation of cryptocurrency mining centers; provides that operation of a cryptocurrency mining center shall only be authorized following completion of a full generic environmental impact statement review and a finding that such center will not adversely affect the state greenhouse gas emission targets in the climate leadership and community protection act of 2019; provides for the repeal of such provisions upon expiration thereof.

The proposal will now be discussed by the New York Senate.

After a previous run-in between the city of New York and Tether, which was fined $18 million, this is already the second time this year that the Big Apple is saying no to crypto. Miami on the other hand looks much friendlier.