Tesla abandons Bitcoin, these crypto projects could stand out – The ₿log

For $963 million, Tesla sold BTC. The company revealed in February last year that it had spent $1.5 billion buying the cryptocurrency and would soon accept Bitcoin as a payment method for its automobiles.

With this statement, the cryptocurrency market went into a frenzy, driving up the price of many cryptocurrencies, placing Musk as the chief de facto of the industry.

Tesla nevertheless reversed his jacket on Bitcoin, referring to the energy consumption linked to Bitcoin mining. Thus, the company is at least partially abandoning Bitcoin.

However, we believe that it is the decline of Bitcoin that is at the origin of this liquidation. According to the group, they will be willing to increase their Bitcoin holdings in the future. Therefore, the sale of BTC should not be interpreted as a bad judgment against the first crypto.

Tesla nevertheless continues to support another cryptocurrency that is accepted in its online store: Dogecoin.

Dogecoin (DOGE)

Dogecoin may well become more widely adopted with support from Elon Musk and Tesla. Especially since cryptocurrency is now looking for a utility. the Dogechain is a level 2 chain based on the Dogecoin blockchain. It allows to launch non-fungible tokens (NFT), decentralized applications (dapps) and games.

Investors who own Dogecoins will no longer need to convert them frequently to other cryptocurrencies like Bitcoin and Ethereum to transact on crypto platforms thanks to this new chain which will offer several in-house functionalities.

Developers will be able to create projects with practical applications in daily life thanks to this ecosystem.

Read also Ethereum (ETH) Price Prediction: The Merge Attracts Many Users

Tamadoge (TAMA)

Tamadoge is another memecoin similar to Dogecoin that intends to develop in parallel. While Dogecoin is trying to find a use for itself after almost 10 years of existence. The Tamadoge will natively be a utility token!

The TAMA is the main token of the future metaverse of the Play-to-earn game Tamadoge. The latter highlights dog NFTs that players can obtain and improve in order to participate in challenges. Then they play, the more their NFTs gain in value. They can then sell them at a profit on an NFT marketplace.

The Tamadoge will therefore work like other popular games like Axie Infinity. But it is much more interesting now, because its trading has not yet started. And when it is, its value will no doubt multiply.

Price predictions for Tamadoge in 2023 move between x10 and x100. You can buy TAMA tokens on the official website from Tamadoge.

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Tesla abandons Bitcoin, these crypto projects could stand out – The ₿log

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