The DogeOS staff has revealed a brand new partnership between Dogecoin and Bitcoin, which is bullish for the meme coin’s ecosystem. Notably, this comes amid different bullish fundamentals corresponding to the upcoming launch of the primary Dogecoin ETF.
DogeOS Announces Partnership Between Dogecoin and Bitcoin
In an X put up, DogeOs acknowledged that for the primary time, Bitcoin is becoming a member of the Dogecoin neighborhood, enabling BTC’s trillion-dollar liquidity to movement into their ecosystem via its partnership with Lombard Finance. The staff additional famous that this can result in deeper markets and extra capital for builders, whereas additionally offering extra monetary firepower for mainstream Dogecoin purposes.
The announcement comes after the DogeOS staff teased that one thing massive was taking place between Bitcoin and Dogecoin. The staff additional added again then that the 2 OG crypto communities are about to change into “very shut mates.” According to the press launch, Lombard Finance will deliver Bitcoin’s yield into the Dogecoin ecosystem via DogeOS.
DogeOS famous that Lombard has $1.5 billion in whole worth locked (TVL) and 82% of LBTC actively deployed in DeFi protocols, having turned billions of {dollars} in Bitcoin into yield-bearing capital throughout the business. Now, the DeFi protocol is integrating this LBTC into the Dogecoin ecosystem, with this capital powering purposes on the community.
DogeOS declared that this isn’t simply one other DeFi integration however one which represents Bitcoin’s first true entry right into a community-driven crypto tradition. The platform famous that that is important for DOGE holders as BTC’s trillion-dollar liquidity community is now flowing into their ecosystem and offering extra monetary energy for stakeholders on the community to construct.
On the opposite hand, for Bitcoin holders, DogeOS acknowledged that it offers them entry to the “most welcoming, revolutionary neighborhood in crypto.” These holders get to take part in gaming, DeFi, and AI experiences whereas incomes yield.
More Capital Set To Flow Into DOGE Ecosystem
In addition to the Bitcoin and Dogecoin partnership, extra capital can also be set to movement into the DOGE ecosystem via the primary Dogecoin ETF that’s launching tomorrow. Bloomberg analyst Eric Balchunas revealed that the REX-Osprey DOGE ETF is slated for a September 11 launch and can commerce beneath the ticker ‘DOJE.’
This Dogecoin ETF is launching beneath the 40 Act, whereas 33 Act DOGE ETF filers, corresponding to Grayscale and Bitwise, watch for the SEC’s approval, which is more likely to come subsequent month. Balchunas famous that this growth is ready to kick off the meme coin ETF period, as will probably be the primary ETF that gives publicity to any meme coin. The Bloomberg analyst acknowledged that that is the “first-ever” U.S. ETF to carry one thing that has no utility on goal.
At the time of writing, the DOGE worth is buying and selling at round $0.24, up within the final 24 hours, in keeping with knowledge from CoinMarketCap.
Featured picture from Adobe Stock, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent assessment by our staff of prime expertise specialists and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
