SALT, the crypto lending platform, announced that they are adding the mega-famous “joke” altcoin, Dogecoin as collateral for users seeking to leverage their cryptocurrency to get loans in dollars.
This information comes just weeks after SALT did some other improvements to Litecoin backed loans. At the same time, they increased their worldwide presence in international locations like UK, Hong Kong, New Zealand, and Vietnam.
Their official release on Medium states:
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“Dogecoin has a rich history and incredible support from its community, is widely traded, offers high liquidity, and is built using the Bitcoin code base — all factors
The recent couple of weeks has been extremely interesting when looking at various altcoins and how they are faring against Bitcoin and fiat currencies. Recent ETF rejections along with increasingly uncertain fiat markets, and the drama between Bitcoin Core and Bitcoin Unlimited -a continuing and needlessly nasty debate over blocksize limits- have paved the way for these altcoins to have a bit of a pump.
While it may seem obvious that this could be the “pump and dump” that we are all too used to seeing, I wonder if this is not a bit more concrete as most of … Read the rest