A man in Rhode Island sold a vacant lot in Providence for 150,000 DOGE, or about $50,000 (₦20.6 million) at the time of sale. According to a report by local news station WJAR, the United States citizen has become the first to negotiate a real estate deal using the meme-based crypto asset.
The report claims that the man was interested in selling his vacant lot using Dogecoin, the popularity of which has risen in recent months due to the influence of Elon Musk and other high-profile endorsements. Realtor, Kyle Seyboth, said the seller told him:
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I THINK IT WOULD BE GREAT IF WE COULD ONLY SELL MY LOT USING DOGECOIN.
Seyboth told WJAR that his phone has been “ringing from people who want to do the same,” following the sale of the lot. The realtor mentioned that DOGE’s fluctuating prices make it difficult to discern whether the buyer or seller is benefiting from the use of the cryptoasset. The price of Dogecoin has been on a roller coaster ride for the past two weeks.
The price plummeted after Elon Musk announced that Tesla would stop accepting Bitcoin as a form of payment, but rebounded following Coinbase’s decision to list DOGE. According to data from CryptoCompare, DOGE is currently trading around $0.374278 , down 10.22% in the last 24 hours.
Cardano Has Created 6,710 New Millionaires
The altcoin Cardano (ADA) has rewarded its holders with significant gains this year. The number of millionaires holding this cryptocurrency has climbed 1,241.34% since the start of the year, according to the Coin Metrics site.
Variations in cryptocurrencies can make many people happy or very much unlucky. The altcoin Cardano is rather the style to bring back a smile. Since the start of the year, the number of investors with ADAs worth more than $1 million in their crypto portfolio has multiplied by 13. As of May 17, they were 6,710, according to the British financial agency Finbold. On 1st January, there were 504 ADA addresses showing such a portfolio, according to data from Coin Metrics.
In addition, the number of active ADA addresses also increased by 417.81% between 1st January and 28 April.
To explain this growth in the number of millionaires, you just need to look at the price of this altcoin. Since the start of the year, the value of a Cardano token has skyrocketed from $ 0.18 to $ 1.77, an increase of 1.040. Last week, it had even climbed to 2.40 dollars, thus breaking several records, before falling back slightly.
The cryptocurrency now has a market cap of $66.1 billion, writes Cointelegraph. It therefore ranks in the 4th place of the cryptographic market. Cardano overtook Dogecoin, Tether, and XPR in its latest growth spurt.
It is also worth noting that the ADA seems immune to the current decline in cryptocurrencies. In the last 7 days before Thursday, its value had indeed increased by 19%. In comparison, Bitcoin is down 22.6% and Ether 15.2%. However, for this morning of May 20, Cardano lost 5.22% compared to the day before.
Cardano is benefiting from the positive news released by Input Out Hong Kong, IOHK. The cryptocurrency research and development firm has announced that it will deploy a smart contract platform linked to Cardano.
IOHK also recently partnered with the Ethiopian government to renew its education system. As part of this partnership, IOHK will deploy its blockchain solutions across the country, up to five million students will be able to benefit from the program.
What is Cardano? Cardano is a public and open source blockchain that already has its own smart contracts and other decentralized applications.
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