Dogecoin latest – Elon Musk sends cryptocurrency’s price SOARING ahead of SNL; plus Bitcoin and Ethereum updates LIVE

ETHEREUM’S incredible price surge has made its 27-year-old founder a BILLIONAIRE.

Vitalik Buterin now has at least $1 billion worth of the cryptocurrency in his main wallet – making him the world’s youngest crypto billionaire.

Buterin spearheaded the launch of the Ethereum blockchain in 2015.

Ethereum’s cryptocurrency, ether, surged past $3,000 for the first time early Monday morning, marking a 325% rise since the beginning of this year.

Ethereum’s incredible rise came after three years of decline which saw it falling below $100 in April 2020 following a previous high of $1,200 in 2018.

But over the past 12 months the currency has absolutely rocketed.

Boosted by a buoyant market and a strong Bitcoin, Ethereum has absolutely smashed it’s previous high, with forecasters now tipping the currency to hit a staggering $5,000 before plateauing.

That said, as with all cryptocurrencies, there are no guarantees that any investments will make money and in many cases investors has lost absolutely everything they have put into the coins.

Read our cyptocurrency live blog below for the very latest updates…

  • ‘HUGE EGOS’

    There were eight co-founders of Ethereum – all of whom boast “huge personalities, huge egos, some more than others,” cryptocurrency author Camila Russo told Decrypt.

  • SO, WHAT IS ETHEREUM?

    Ethereum is a cryptocurrency that was released in 2015 – it’s the second largest after Bitcoin.

    In fact, some experts believe it has the potential to one day overtake Bitcoin as the dominant coin in the market. It was founded by eight people, one of which is 27-year-old Vitalik Buterin.

    Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.

    A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit. This ledger is the foundation of any cryptocurrency transaction.

    Ethereum has rocketed in value over the course of this year. Earlier this week, it reached a record-breaking high of $3,000 – up nearly 1,500% since this time last year.

  • WORD OF WARNING

    Cryptocurrencies are highly volatile, so your cash can go down as well as up in the blink of an eye – you can lose all the money you put in.

    Plus, some products and cryptocurrency services are very complex to understand. You should only invest in things you understand. 

    There is also no guarantee that you’ll be able to convert cryptoassests back into cash, as it may depend on the demand and supply in the existing market. 

    Fees and charges may also be higher than with regulated investment products. 

    We know that crypto firms may also overstate the returns or understate the risks. Be careful. 

  • DOGECOIN HIGHS

    Dogecoin continues to post new highs after rallying 23% so far today and more than 50% in the last day.

    The meme cryptocurrency is changing hands for around $0.66 after climbing to a record high of around $0.696 on Wednesday, according to CoinDesk data.

    Dogecoin is now up 1,017% over a 30-day period, according to Messari data.

  • BIDDING WITH BITCOIN

    Sotheby’s said it would accept bitcoin and ethereum as payment for Banksy’s iconic artwork “Love is in the Air” – a first for physical art auctions and the latest sign of growing mainstream acceptance of cryptocurrencies.

    Bidding for the work is estimated at $3 million to $5 million, Sotheby’s said, with the buyer having the option to pay with cryptocurrency.

    The auction house has tied up with cryptocurrency exchange Coinbase Global Inc for the sale.

    Coinbase said the partnership could pave the way for further adoption of cryptocurrency across the bidding house’s auctions.

  • ‘GROWING INSTITUTIONAL INTEREST’

    Ethereum posted inflows of $30.2 million last week and an all-time peak of $13.9 billion in 2021, CoinShares weekly data shows.

    “The biggest reason for the surge (in ethereum) appears to be the growing number of developers building DeFi applications on the platform, but also the growing institutional interest,” Petr Kozyakov, co-founder and chief executive officer at global payment network Mercuryo, told Reuters.

    DeFi are crypto platforms that facilitate lending outside of traditional banking institutions.

    Other cryptocurrencies such as Polkadot, Binance and Cardano saw minor inflows.

  • MILA KUNIS WARNED ASHTON KUTCHER AGAINST BITCOIN

    Mila Kunis warned Ashton Kutcher against investing in Bitcoin – but said it was “bad financial advice”.

    Speaking on The Late Show with Stephen Colbert, she said Ashton sat her down and said: “Hey, babe, I got to explain this thing to you. Tell me if I’m crazy.

    “There’s this thing, it’s like mining for money. It’s called cryptocurrency, and there’s this company. It’s called Bitcoin.”

    She said she was concerned about the cryptocurrency not being insured and said it was a “horrible idea”.

    “And he went, ‘Cool, we’re investing in it.’ So he didn’t listen to me. I mean, this happens all the time.”

  • NO GUARANTEES

    Investing and making a purchase in cryptocurrencies such as Bitcoin is risky.

    Their value is highly volatile and City watchdog the Financial Conduct Authority has warned investors should be prepared to lose all their money.

    Investing in cryptocurrencies is not a guaranteed way to make money.

    You should also think carefully about making purchases with a cryptocurrency.

    For example, Bitcoin has had wild price fluctuations in recent months and the price can change on an almost hourly basis.

  • THE RISE OF ETHEREUM

    Ethereum is the second biggest digital currency after Bitcoin.

    Vitalik Buterin co-founded Ethereum in 2015 after dropping out of college.

    The mass appeal of his cryptocurrency may lie in the fact it has faster transaction times than Bitcoin.

    Buterin owns 333,000 Ether coins, which now have a value of $1.029billion (£742million). His software savvy father was the one who originally introduced him to Bitcoin in 2011.

    In 2014, the first Ethereum network was crowdfunded and it went live in 2016 – Buterin’s aim is to let people make anonymous online payments without a bank being involved.

  • WHO IS VITALIK BUTERIN?

    Vitalik Buterin, 27, is one of Ethereum’s eight founders.

    In a report, CNBC said in 2017: “Buterin has become a celebrity in the cryptocurrency space and is credited with co-founding Bitcoin Magazine in 2011.

    “He was a 2014 recipient of billionaire Peter Thiel’s prestigious fellowship and [in 2016], he was included on Fortune’s 40 under 40 list.”

    Born in Moscow, Buterin’s childhood was spent in Canada, after his family moved there when he was six years old.

    Wired’s Backchannel said that later, he “invented the world’s hottest new cryptocurrency and inspired a movement — before he’d turned 20”.

    The website explains that his huge mathematical talent was fostered at school.

    Credit: Getty
  • WHAT IS CARDANO?

    Cardano is a cryptocurrency that uses blockchain – making it difficult to be hacked.

    It was launched in 2017 and set up by Charles Hoskinson, who was one of the eight co-founders of Bitcoin rival, Ethereum.

    Every time someone buys or sells the cryptocurrency, it’s permanently recorded on the platform’s blockchain.

    Unlike some other cryptocurrencies, the blockchain is more transparent so anyone can see it. It’s managed by the Cardano Foundation.

    The “altcoin” has been designed to make sure that investors can have some say in how the currency is run. It means those who own Cardano have the right to vote on any proposed changes to the software, reports Coinmarketcap.

  • WHO ACCEPTS DOGECOIN?

    Dogecoin’s latest surge in price has been put down to eToro now supporting the cryptocurrency.

    The trading platform will now let users buy and sell Dogecoin, alongside other cryptocurrencies and more mainstream investments like stocks and shares.

    Other trading platforms which let you buy and sell Dogecoin include Binance and Kraken.

    But you can’t buy and sell Dogecoin on all platforms which offer cryptocurrency trading.

  • BE CAREFUL

    There is also no guarantee that you’ll be able to convert cryptoassests back into cash, as it may depend on the demand and supply in the existing market. 

    Fees and charges may also be higher than with regulated investment products. 

    We know that crypto firms may also overstate the returns or understate the risks. Be careful. 

  • RISKY BUSINESS

    Buying cryptocurrencies as well as stocks and shares is a very risky business.

    Investing is not a guaranteed way to make money, so make sure you know the risks and can afford to lose the cash.

    Cryptocurrencies are highly volatile, so your cash can go down as well as up in the blink of an eye – you can lose all the money you put in.

    Plus, some products and cryptocurrency services are very complex to understand. You should only invest in things you understand. 

  • ON THE RISE

    The price of Ethereum has soared to a record high of $3,000, in turn quadrupling its value in 2021.

    But what exactly is Ethereum and why is it going up in value? We explain what you need to know.

    Ethereum is a cryptocurrency that was released in 2015. It’s the second largest after Bitcoin.

    In fact, some experts believe it has the potential to one day overtake Bitcoin as the dominant coin in the market.

    Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.

  • CRYPTO COINS

    Interest in Dogecoin is growing and its price has surged this year, hitting record highs.

    But who accepts Dogecoin and where exactly can you spend the cryptocurrency?

    Bitcoin is the most well know cryptocurrency and Dogecoin is growing in popularity too.

    Dogecoin started out as a joke cryptocurrency but has attracted more interest this year among serious investors.

    Cryptocurrency markets have surged this year and Dogecoin’s price has rocketed along with other cryptocurrencies.

  • NOT APPY

    Popular trading app Robinhood struggled to keep up with surging demand for cryptocurrencies.

    The platform is back up and running after going down for a short time for buyers and sellers of bitcoin, dogecoin and other cryptocurrencies.

    On Robinhood’s status page. the tech company said “all systems are now operational” but earlier it experienced technical issues leaving users unable to trade.

    An earlier message said: “We are experiencing issues with crypto trading. We are working to resolve this as soon as possible.”

  • REMEMBER: THERE’S NO GUARANTEES YOU CAN CONVERT CRYPTOCURRENCY INTO CASH

    Another risk is there is no guarantee that you’ll be able to convert cryptocurrency into cash.

    Some crypto firms also overstate the returns on investments – profits are not guaranteed.

    Brits should also be wary they risk losing all of their money if they invest in bitcoin and other cryptocurrencies.

    It comes after a ban on some crypto-related investment products.

    Scammers are also known to take advantage of amateur investors in a bid to steal their cash.

  • SOTHEBY’S TO ACCEPT BITCOIN AND ETHEREUM AS PAYMENT FOR BANKSY ARTWORK AUCTION

    Sotheby’s said on Tuesday it would accept bitcoin and ethereum as payment for Banksy’s iconic artwork “Love is in the Air”, a first for a physical art auction and the latest sign of growing mainstream acceptance of cryptocurrencies.

    Bidding for the work is estimated at $3 million to $5 million, Sotheby’s said, with the buyer having the option to pay with cryptocurrency.

    The auction house has tied up with cryptocurrency exchange Coinbase Global Inc for the sale. Coinbase said in a blog https://bit.ly/3vGLwbz it would help manage price fluctuations during the auction in New York next week.

    Bitcoin hit a record high just shy of $65,000 last month, the latest landmark on the emerging asset’s march to wider acceptance. Its gains have been fueled by growing acceptance among major U.S. companies and financial firms.

  • WHY IS CARDANO GOING UP?

    This morning, Cardano peaked at $1.38 (99p) but has since dropped slightly to $1.33 (96p). However, it’s not as high as it was on April 14, when the cryptocurrency hit $1.56 (£1.12).

    Mark Hipperson, founder of cryptocurrency exchange firm Ziglu, explained that it’s the sixth largest cryptocurrency with a market cap of around $45billion (£32billion).

    Over the past 52 weeks, its valuation has increased by 3,360% and since January 1 2021, it has increased 568% in value.

    Comparatively, Bitcoin has gone up by 706% and 93% during the same time, while Ethereum has risen by 1,194% and 204%.

    “The cryptocurrency has seen incredible growth in recent months, which has raised the attention of a number of crypto enthusiasts,” he said.

  • THE SUN EXPLAINS: WHAT IS CARDANO?

    Cardano is a cryptocurrency that uses blockchain, making it difficult to be hacked.

    It was launched in 2017 and set up by Charles Hoskinson, who was one of the eight co-founders of Bitcoin rival, Ethereum.

    Every time someone buys or sells the cryptocurrency, it’s permanently recorded on the platform’s blockchain.

    Unlike some other cryptocurrencies, the blockchain is more transparent so anyone can see it. It’s managed by the Cardano Foundation.

    The “altcoin” has been designed to make sure that investors can have some say in how the currency is run. It means those who own Cardano have the right to vote on any proposed changes to the software, reports Coinmarketcap.

  • EBAY CEO SAYS LOOKING AT CRYPTOCURRENCY AS PAYMENT OPTION – CNBC

    EBay Inc is looking at new payment options for customer – and this will include cryptocurrency.

    Chief Executive Officer Jamie Iannone said in a CNBC interview on Monday that the e-commerce firm is also exploring ways to get in to the business of non-fungible tokens (NFTs).

  • WATCH: IT WORKER BEGS FOR HELP TO FIND HARD DRIVE CONTAINING £220MILLION IN BITCOIN HE THREW AWAY

    IT worker begs for help to find hard drive containing £220MILLION in Bitcoin he threw away
  • WHAT IS BITCOIN?

    Bitcoin is a virtual currency with units created by computer code and stored in a digital “wallet”.

    Its value soared this year to over $62,000, in part thanks to a boost by Elon Musk who revealed he had invested $1.5bn in the currency.

    He also said customers will soon be able to use it to buy one of his Telsa electric cars.

    Around 20,000 shops around the world take Bitcoin as well as many retailers online.

  • DOW JONES LAUNCHES NEW CRYPTO INDEXES

    The S&P Dow Jones Indices launched new cryptocurrency indexes today, further mainstreaming digital currencies including Bitcoin and Ethereum by bringing them to the trading floors of Wall Street.

    The new indexes, S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, will measure the performance of digital assets tied to them.

    The list will expand to include additional coins later this year, the division of financial data provider S&P Global said.

    The company first announced the plan in December when it said it would cover more than 550 of top-traded coins and that its clients will be able to create customized indices and other benchmarking tools on cryptocurrencies.