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Steve Wozniak’s New Crypto WOZX Price Skyrockets Ahead of Second Listing

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After only five days of trading, the newly-launched token WOZX has recorded 26X gains, which is a magnificent increase of 1,400% in value for a period of less than a week.

WOZX, the new token of Apple co-founder Steve Wozniak, registered an astonishing run in the price increase up to almost 26X last week, besides doubling its price today. Since its first being listing on the HBTC exchange on Dec. 3, WOZX price has been up 2,490%. At the time of opening, it was trading at 10 cents per token, but now it is at $2.59. Trading of the token on Bithumb, the Korea-based exchange, will commence on Dec. 9.

Earlier this year, private funding rounds for the token were conducted, putting its initial valuation to be at $80 million, while currently there are a total of one billion tokens in supply. According to a press release by an eponymous company behind the token Efforce its market cap soared to $950 million “in the first 13 minutes” of trading.

WOZX Token with Its Growing Price

Efforce touted as “the first blockchain-based energy-saving platform,” securitizes energy savings via Ethereum blockchain token WOZX. Wozniak has stated that it is the second blockchain-related venture since co-founding Apple back in his parents’ garage in 1976.

 “We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects and create meaningful environmental change,” Wozniak said.

In carrying out its mandate, Efforce is not geared towards disruption of the current routine or human behavior but encourages a meaningful reduction of energy consumption. Contributors in the platform who desire to participate in energy-saving projects will use WOZX tokens and get rewards based on the energy amount saved. With Efforce, both small and large investors can access the energy efficiency market for the first time and undertake energy efficiency measures at no cost, thereby rediverting their liquidity to more critical tasks.

Jacopo Vanetti and Jacopo Visetti are other co-founders who joined Wozniak at Efforce to serve as CTO and Project Lead, respectively. Founded in 2019, the company is situated in Malta, one of the nations that have been friendly to blockchain-based enterprises.

Democratizing the Energy Market

Visetti described in a Dec. 4 announcement that how Efforce will connect investors with energy savings projects, thereby helping democratize the energy efficiency market. 

He stated as follow:

“Energy efficiency is a way to create a sustainable future, and this is a way to help counter climate change, reduce carbon — and make money while you do it.”

According to him, business owners could safely register their energy upgrade projects on the web and get funding from various kinds of investors worldwide. Meaning, more available cash will be available for companies to use for other critical projects like hiring or infrastructure.

In Oct. 2018, Apple’s Wozniak cofounded EQUI Global, a blockchain-based capital venture fund, as reported by Verdict, a global business outlet. The venture capital fund built on a blockchain-powered backend uses blockchain technology to disrupt the traditional venture capital and funding sphere. Ethereum blockchain-based EquiTokens allowing “sophisticated” investors relying on the fund to easily raise capital on a project-by-project basis.

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James Lovett is a talented crypto enthusiast who finds pleasure in sharing more knowledge on fintech, cryptocurrency as well as blockchain and frontier technologies. He likes to keep himself furnished and updated with the latest innovation in the crypto industry, blockchain technology, Internet of Things (IoT) and other technologies. As a result, he tries to furnish ardent crypto supporters with the latest news on blockchain and distributed-ledger technologies. Indeed, Blockchain and Cryptocurrency is changing the world as we know “one block at a time”. As a hobby, he also trades in small amounts of cryptos every now and then.
An author with experience writing for tech, digital, and cryptocurrency blogs!





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How Elon Musk Became Champion of Doge 

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By February 10, the Doge rally began to fade slowly. On February 15, Musk called upon Doge whales to sell their coins in order to decrease the asset’s concentration.

Lately, Elon Musk has been a fixture in headlines around the world because of what he has been saying about cryptocurrencies. When he tweets, people pay attention, and in the case of cryptocurrency, when he talks about assets, their prices rise. When Tesla announced it would be buying $1.5 billion worth of Bitcoin, many speculated that it could trigger a chain reaction of other big companies buying in. However, it seems that Bitcoin is not actually Musk’s favorite cryptocurrency. That distinction belongs to the currency originally started as a joke Dogecoin.

Currently, Dogecoin ranks a bit below the top 10 cryptocurrencies in terms of market cap, having outperformed giants created thanks to millions of dollars from ICOs. Throughout the years, several prominent charity campaigns on Reddit raising money in Doge have been performed. However, Dogecoin wasn’t supposed to be a big thing. Actually, the currency with a Shiba Inu meme for its logo was created in 2013 as a joke. Dogecoin doesn’t have much to offer in terms of technology. The only thing that has been driving the price of this coin is people’s enthusiasm. “Dogecoin is the people’s crypto,” Musk recently tweeted. Let’s take a look at Musk’s history with Doge and where things stand now.

2017-2018

Earlier this month, during a Clubhouse speech, Musk admitted that he should have bought Bitcoins 8 years ago. However, the first time Musk publicly mentioned crypto was in November 2017. There was a rumor going around back then that Musk was true Satoshi Nakamoto to which he responded that he didn’t remember where he kept 0.25 BTC that his friend sent him years ago. In 2018, Musk confirmed on Twitter that he doesn’t own crypto apart from 0.25 BTC. Things were to change the following year.

2019

In 2019, Musk called the Bitcoin structure “brilliant” however stated that Tesla will stay away from cryptocurrency. The same year Musk was voted the CEO of Dogecoin in a Twitter poll. “Dogecoin might be my fav cryptocurrency,” he replied. That tweet alone provoked a 27% price growth for Dogecoin. Later on, Musk added “former CEO of dogecoin” to his Twitter bio and posted a Dogecoin meme. Another Doge-related tweet made that year reads “dogecoin value may vary.” The tweet was likely aimed at the US Securities and Exchange Commission who had pressured Musk earlier because of his Tesla stocks-related tweet which was considered potentially market-moving. In the spring, Musk and Twitter CEO Jack Dorsey both made statements praising Bitcoin as a world-changing technology. However, it didn’t have any notable effect on the market.

2020

In January 2020, Elon tweeted out to the world that Bitcoin is not his safe word. In December of the same year, he replied to a tweet addressing people shorting Tesla stocks saying that Bitcoin is his safe word. Another tweet he posted in December reads “Bitcoin is almost as bs as fiat money”. But it was in late December that Musk seems to have really dove into the Doge. He started tweeting about Doge repeatedly which triggered a dramatic price spike. It started when Musk tweeted “One word: doge”. That alone was enough to trigger a 40% Dogecoin price boost. On Christmas, Elon posted an image of shorts with the Doge icon sewn on them.

2021

On January 27, Musk paid tribute to the WallStreetBets subreddit by tweeting a link to their community with the comment “Gamestonks”. It was made amidst the GameStop fiasco. The success of WallStreetBets inspired another subreddit, SatoshiStreetBets, to try to organize in a similar manner only for cryptocurrency. This community set its sights on Dogecoin as their asset to pump. On January 29, Musk helped this initiative by posting a parody image of a Vogue magazine cover titled “Dogue”. At the same time, the Tesla CEO replaced his bio information with the word “Bitcoin”. The price of Dogecoin skyrocketed by 800% in the hours following Musk’s tweets, surpassing the $0.05 mark for the first time. For context, for most of its existence Dogecoin has been valued at less than a cent.

On February 4, Musk returned to Twitter after a two-day break. One of the tweets he posted that day was a one-word “Doge” tweet followed by a meme in which the iconic shot from Lion King with Rafiki holding Simba is reworked to Musk holding a Shiba Inu dog(e). The latter tweet got over a million likes. Other highlights from his Twitter include “Dogecoin is the people’s crypto” and “No highs, no lows, only Doge”. These tweets moved the Doge price even higher.

Musk continued to push the Doge thing on February 6, tweeting “Much Wow” and posting a poll in which people were asked to choose the future currency of Earth. The options were Dogecoin or the rest of the cryptocurrencies combined. By that time, Gene Simmons of KISS and Snoop Dogg had joined Elon in his vocal support of Dogecoin, and Musk posted another meme with all three celebs holding Doge.

Musk’s tweets from early February were used by multiple cryptocurrency-related platforms. They didn’t want to miss out on the chance to use the hype to advertise their services. One of these companies was the wallet app developer Freewallet. It used Musk’s tweet to remind followers on Twitter that they can buy Dogecoin in their Freewallet accounts. Seemingly out of the clouds, Musk replied to Freewallet’s tweet saying that their app sucks. Later, it was revealed that Musk actually uses Freewallet and he was tweeting his displeasure after having been locked out of his account. Once his access was restored, Musk thanked Freewallet, which is the only crypto service that Musk is known to use.

By February 10, the Doge rally began to fade slowly. On February 15, Musk called upon Doge whales to sell their coins in order to decrease the asset’s concentration. The businessman promised his “full support” to those who will follow his initiative, even going as far as offering compensation in USD.

Why was Elon shilling Doge while Tesla was investing a jaw-dropping sum in Bitcoin? As Musk has over 40 million followers on Twitter and he’s a popular person, his words resonate. People who don’t know much about cryptocurrencies might think that Musk is doing it just for fun. However, according to Elon himself, he has Dogecoin savings. Once he tweeted that his little son is a “toddler hodler”. The easiest explanation of Musk’s behavior is that he has a profound love of memes and has found a way to express that love in a manner that benefits him financially.

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Author: Norbert Kozma

Norbert Kozma is a crypto enthusiast, investor, and author. He believes that cryptocurrency will replace fiat money and works to speed up this process by spreading trustworthy crypto information.





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‘Shift 1% of Portfolio into Bitcoin’, JPMorgan Advises Investors as Bull Run Cools Off

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Analysts of JPMorgan highlighted the evaporating liquid supply as multi-billion dollar institutions and corporations are buying substantial quantities at a fast rate.

JPMorgan Chase & Co (NYSE: JPM) strategists have suggested that investors should consider moving 1% of their portfolio into Bitcoin to serve as a hedge against fluctuations in traditional asset classes including stocks, bonds, and commodities.

Many people over the years including the majority of Wall Street saw Bitcoin as a commodity without any strong backing, hence doubting its ability to perform and stay in the financial scene. It seems the narrative about the biggest digital coin is gradually changing which is evident in the new wave of institutional influx in the crypto market. 

The latest endorsement from the US multinational investment bank, JPMorgan has boosted the already existing notion which has seen many experts tout Bitcoin as a hedge against inflation. The bank has told its investors that they can shift 1% of their portfolio into Bitcoin only if those investors have just a small interest in Bitcoin.

Analysts from the bank highlighted the evaporating liquid supply as multi-billion dollar institutions and corporations are buying substantial quantities at a fast rate. “The demand for bitcoin is significantly higher than the actual supply and investors could put 1% of their portfolio in BTC,” JPMorgan advised. 

Bitcoin’s last halving which happened in May last year, saw the production rate of new Bitcoins slashed into two. The increasing demand that followed the halving, coupled with its decreasing liquid supply drove the price of the coin up as it has gained over 50% value since January 1.

The latest interest from institutions has further fueled the decreasing liquid supply as MicroStrategy Inc (NASDAQ: MSTR) now owns over 90,000 Bitcoin, with Tesla Inc (NASDAQ: TSLA) allocating $1.5 billion in the asset while Grayscale is purchasing new coins at record levels. 

JPM strategists Joyce Chang and Amy Ho in a note to clients stated that “in a multi-asset portfolio, investors can likely add up to 1% of their allocation to cryptocurrencies in order to achieve any efficiency gain in the overall risk-adjusted returns of the portfolio.”

Bitcoin’s insane bull run looks to have hit a wall as its value has seen a 20% decline since its all-time high of over $58,000 on February 21. JP Morgan’s latest comments have been met with criticisms as it contradicts earlier statements made by other strategists from the bank, which stated that “crypto assets should be treated as investment vehicles and not funding currencies such as USD or JPY.”

The bank also claimed that “crypto assets continue to rank as the poorest hedge for major drawdowns in equities,” but looks to have circled back on its words. 

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World’s First Ethereum ETF on Pace to Be Launched by Canada’s CI GAM

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Canada’s openness to cryptocurrency innovation is in place and is billed to help bring live the supposed world’s first Ethereum ETF product.

Canada-based CI Global Asset Management (CI GAM) is on pace to launch the world’s first Ethereum (ETH) Exchange Traded Fund (ETF) product. The company revealed this in a press release, noting that it had filed and obtained a receipt for a preliminary prospectus for CI Galaxy Ethereum ETF which will trade under the ticker symbol “ETHX”.

An Ethereum-backed Exchange-Traded Fund is an investment vehicle that provides investors with the opportunity to venture into the ETH markets without the attendant risk of purchasing the asset itself. It offers corporate clients who have a vested interest in digital assets the opportunity to do so under a more regulated setting.

CI GAM is launching its ETHX product in conjunction with Galaxy Digital Capital Management LP (“Galaxy Digital”), a subsidiary of Galaxy Digital Holdings Ltd (TSX: GLXY) owned by Mike Novogratz. The latter firm will act as the Ether sub-advisor for the ETF giving it a direct involvement in trading the cryptocurrency on behalf of the outfit.

“Cryptocurrencies are transforming the financial world, and we are excited to launch the world’s first ETF investing directly in Ether, one of the most highly valued cryptocurrencies,” said Kurt MacAlpine, Chief Executive Officer of CI Financial, the parent company of CI GAM. “With these funds, we are reducing the friction points that investors have traditionally faced in buying and holding cryptocurrencies.”

ETHX as announced will be listed on the Toronto Stock Exchange with investments made directly in Ethereum. Per the press release, the fund’s holdings will be priced using the Bloomberg Galaxy Ethereum Index (“ETH Index”), a tool designed to measure the performance of a single Ether traded in U.S. dollars.

World’s First Ethereum ETF in View, Canada’s Openness at Play

Canada’s openness to cryptocurrency innovation is in place and is billed to help bring live the supposed world’s first Ethereum ETF product. Canada approved two Bitcoin ETFs this month, further strengthening the nation’s position to embrace digital currency offerings.

The backing for an Ethereum ETF is not out of place, the cryptocurrency is the second-largest by market capitalization and it is the flagship network for Web3.0.

“Ethereum is the leading candidate to be the base layer of Web 3.0, and Ether is a growth asset that provides investors exposure to the explosion of decentralized applications,” said Mike Novogratz, Chairman and Chief Executive Officer of Galaxy Digital Holdings.

The debut of the Ethereum ETF has lots of implications, with the core being a springboard for many more to emerge. These products may serve as the ultimate link to endear increased institutional investor participation into the volatile and largely unregulated world of cryptocurrencies.

“We are thrilled to expand our advisory relationship with CI,” said Steve Kurz, Partner, and Head of Asset Management. “The CI Galaxy Ethereum ETF represents a global first, giving investors a simplified path to benefit from the potential growth of this important asset class.”

Read more news of the crypto industry on Coinspeaker.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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