U.Today – Billy Markus: A Critique of the Crypto Market

Billy Markus, known as Shibetoshi Nakamoto, co-founded Dogecoin 11 years ago and is recognized for his ironic critiques of the crypto market.

Dogecoin Creator Bashes Crypto Market Turbulence

On Dec. 10, Markus expressed his disdain for the volatility of the crypto market on his X account. He highlighted the drastic fluctuations in Dogecoin's value, which dropped more than 10% on Tuesday before a 10.22% recovery, currently priced at $0.40424, following a 25% decline since Sunday.

Bitcoin faced a similar fate, losing nearly 6% since Sunday. It dropped from around $100,410 to approximately $94,500 but later recovered 4.22%, trading at $98,310 at the time of writing.

Markus has frequently criticized the unpredictable nature of the crypto market, claiming that price changes often lack a clear rationale. He has previously voiced skepticism about the reasons behind the dramatic swings in Bitcoin and other cryptocurrencies.

In another recent tweet, he criticized non-fungible tokens (NFTs), stating, "the biggest problem with NFTs is 'whatever dumb f** decided to call them NFTs.'" Despite his critical stance, he has released several NFT collections.

146.5 Million DOGE Deposit Stuns Robinhood (NASDAQ:HOOD)

Whale Alert, a cryptocurrency tracker, reported a massive deposit of nearly 150 million DOGE into Robinhood, a platform for stock, commodities, and crypto trading.

Two significant transactions were noted: one involving 61,160,251 DOGE valued at $23,493,325 and another containing 85,430,198 DOGE worth $32,932,934. Both transactions originated from anonymous blockchain addresses.

Currently, Dogecoin holds a position in the top 10 cryptocurrencies, boasting a market cap exceeding $59 billion.

This article was originally published on U.Today.