You have probably seen an article about the GameStop case.
The Wallstreetbets community on reddit, took it upon themselves to drive up the GME (GameStop) share price. Conversely, many investment funds were in short positions. The Wallstreetbet group was able to rely on its members to put the big institutional investors in the red. Indeed, the gamestop share is worth almost 10 times its real value, forcing hedge funds to withdraw from their positions in a hurry, losing billions.
The aim of the wallstreetbet group is to make money but more importantly, to show Wallstreet that they are no longer the only ones in charge.
In the meantime, the SEC has taken up this phenomenon and is now investigating the matter. As a result, major trading platforms such as Robinhood, which is very popular with individuals across the Atlantic, removed the ability to trade GME shares. Obviously, the whole community screamed at the scandal and has since turned away from the platform, not hesitating to destroy it with memes on Twitter.
Some decision makers at the wallstreetbet group came to the conclusion that the whole system was controlled and that it could only be broken by one means... Crypto-currencies.
That's when the reddit community took hold of Dogecoin. On January 28, 2021, the price of Doge was 0.008cts, the next day it reached 0.08cts, an increase of almost 1000%.
The madness is relayed on twitter to the point that Elon Musk tweets about Dogecoin participating in the price surge. An action he repeated by changing his bio to "Bitcoin", the crypto currency also soaring for a few hours.
Even today, Twitter accounts are setting up communities with the aim of adopting cryptocurrencies, notably through various calls on Twitter. This Sunday 31 January, we could find a Telegram account created during the day, reaching 10 hours later, more than 174K members. Their targets? XRP on Monday 1 February, we'll see what they're up to.
So, will cyprots be used by more and more people? The answer is, yes, most certainly. Binance recently reported that users will grow from 5.8 million in 2017 to 101 million in 2020.
There are many surprises in store.
Y.A with Blockchaincontract
