Donald Trump returns to the White House, surrounded by supporters in the cryptocurrency world, igniting the imagination of investors. They now see new opportunities in the cryptocurrency space, even awakening the ambitions of memecoin. At the core of this excitement, Dogecoin stands out: unprecedented financial products based on this iconic memecoin have been launched on European stock markets.
Dogecoin leaps to the top with innovative ETP
Dogecoin news: DeFi Technologies' subsidiary Valour has launched an unprecedented product: an ETP (exchange-traded product) based on Dogecoin, the first cryptocurrency that is both amusing and charming. This ETP is listed on Sweden's Spotlight stock market, providing institutional and retail investors with easy access to Elon Musk's favorite cryptocurrency.
Dogecoin was created in 2013 as a joke against Bitcoin and quickly gained prominence, with its market cap reaching $55 billion by 2024. Unlike Bitcoin, Dogecoin operates on a PoW blockchain network with a lower energy intensity and has no total supply limit.
As Valour's Nordic market director Johanna Belitz pointed out:
"With Trump's victory and the surge of enthusiasm for Dogecoin, this ETP meets a real demand."
Some key data:
Total memecoin market size: $100 billion;
DOGE market cap: $55 billion;
Assets managed by DeFi Technologies: $600 million.
Dogecoin is no longer confined to its image as a joke. Thanks to this new financial tool, it is gradually becoming a legitimate cryptocurrency.
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The cryptocurrency market is undergoing a comprehensive transformation
The rise of Dogecoin reflects a broader trend in the realm of crypto assets. Once mocked, memecoins are becoming key players in financial innovation. Against this backdrop, platforms like Pump.fun have pushed the Solana blockchain to the forefront of optimal solutions.
However, not everyone shares this enthusiasm. Binance's former CEO Changpeng Zhao recently urged cryptocurrency enthusiasts to focus on 'real' blockchain applications rather than memecoins.
Despite these criticisms, the market continues to attract investors' attention. In November 2024, a lawsuit against Elon Musk for allegedly manipulating DOGE prices concluded, further boosting confidence in the market.
With the launch of this ETP, Valour emphasized a key trend: cryptocurrencies are being made accessible to the public through regulated financial products. This shift marks a significant leap towards the mainstream adoption of alternative cryptocurrencies.
Furthermore, do not confuse DOGE and 'DOGE'! One is the iconic memecoin, while the other is the solution envisioned by Donald Trump and Elon Musk to alleviate U.S. debt. Dogecoin continues to demonstrate that even a joke can turn into a serious opportunity.