As Pound Crashes to Record Low, Will Investors Flock to This New Crypto Coin?
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
The price of the British pound (GBP) has fallen to a new record low against the dollar after a new mini-budget threatened to undermine confidence in the UK economy.
With the pound in freefall, some investors are looking at Tamadoge as an alternative.
The pound plunged to $1.0327 just a day after the UK Chancellor, Kwasi Kwarteng, announced a new mini-budget that outlined new tax cuts and spending measures.
Some economists have suggested that the sell-off could force the Bank of England (BoE) to step in and take measures to support the currency.
Scottish MP, Ian Blackford tweeted:
Social media platforms are rife with speculation about a potential emergency rate hike by the BoE by as much as 100-150bps.
This recent price action by the pound follows a long list of national currencies and assets which have lost value against the USD.
Bitcoin is down more than 60% year-to-date, and Ethereum and the broader crypto markets have also largely followed suit.
One crypto coin, however, has been attracting a lot of attention in recent weeks due to its strength compared to other projects.
Tamadoge, the deflationary meme coin with utility, is preparing to list on OKX exchange following a successful $19 million presale.
According to the official Twitter page, OKX will list $TAMA on Tuesday, 27 September 2022, at 12 PM BST.
OKX is one of the leading cryptocurrency exchanges on the market, consistently ranking in the top 3 in terms of daily trading volume.
The announcement has created a frenzy on social media as crypto enthusiasts prepare to trade the newest coin on the block.Shiba Inu did 50x after being
Read more on cryptonews.com
