Tag: Amc Entertainment

AMC Theatres CEO considers adding Shiba Inu as payment for ticket purchases

by Cointelegraph

AMC Entertainment is in the process of updating its technical infrastructure to allow consumers to pay online with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dogecoin (DOGE) for movie tickets. But it doesn’t stop there. In a Twitter post early Friday morning, Adam Aron, the company’s CEO, asked if users would be potentially interested in paying with Shiba Inu as well. At the time of writing, 97,582 Twitter users had already taken part in the poll, with approximately 85% of voters choosing “Yes.”

The iconic theatre chain has taken a growing interest in crypto as of late. Last week, its CEO discussed the possibility of issuing a company-specific cryptocurrency. Earlier this month, AMC enabled its customers to purchase digital gift cards via Dogecoin and other cryptocurrencies using the BitPay wallet. Back in September, Aron expressed interest in minting commemorative movie tickets as non-fungible tokens, or NFTs, during a CNBC interview.

On Friday, Shiba Inu overtook Dogecoin to become the world’s ninth-largest cryptocurrency by market capitalization. According to Etherscan, the daily number of Shiba Inu transactions has surpassed 140,000, just shy of its all-time high of 172,411 daily transactions achieved in May.

In light of a record run-up, the Shiba Inu ecosystem has expanded to include ShibaSwap, a decentralized exchange, or DEX. Total value locked, or TVL, on ShibaSwap amounts to $537.92 million based on data from Defi Llama. There are currently 29 coins

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Dogecoin more popular than ever … even as TXs hit lowest level since 2017

by Cointelegraph

The power of the Dogecoin meme is strong despite transaction levels of DOGE hitting the lowest they’ve been since 2017.

Multiple firms have made DOGE adoption plays this week including Robinhood which confirmed that it will roll out a new crypto wallet feature on its app next month supporting DOGE deposits and withdrawals.The memecoin’s co-creator Billy Markus (who no longer works on the project) stated via Twitter earlier today:

“Okay we are allowed to overreact now Robinhood wallets is huge news for Dogecoin – it opens up so many users to the real utility of cryptocurrency!”

Buy $384M in real estate with DOGE

On Sept. 22 commercial real estate tokenization platform RedSwan announced that it will accept Dogecoin for two digital real estate deals on its marketplace. The firm is offering fractionalized ownership in two high-rise apartment buildings worth a combined $384 million.

“[Dogecoin] is on the cusp of transitioning from a ‘meme coin’ to legitimate institutional and transactional use cases,” said RedSwan CRE chief executive officer, Ed Nwokedi.

Dogecoin Apartment building: RedSwan

The two digital real estate deals dubbed APLO and LHOK are taking minimum investments of $1,000 — roughly 4,447 DOGE at the time of writing — and are offering annualized targeted investor internal rate of returns of 26% and 19% respectively.

On the same day, AMC Entertainment CEO Adam Aron conducted a poll of 140,000 people via Twitter asking the community whether DOGE should be added to the firm’s plans to support crypto payments for tickets by the end of 2021. Out of the four options provided, “Yes, for sure do it” received 68.1% of the votes.

Following on from the overwhelming support for DOGE in the poll, Aron then stated that “It’s clear that you think AMC should accept Dogecoin. Now we need to figure out how to do that. Stay tuned!”

Former DOGE “CEO” Elon Musk chimed in to call for the DOGE fee structure to be lowered to support widespread adoption.

Related: DOGE Cost Averaging: Robinhood rolls out fee-free recurring crypto buy feature

Low transaction levels

Despite the hype kicking into overdrive this week, DOGE transaction levels have dropped to lows that have not been seen since December 2017.

According to data from Bit Info Charts, the number of daily DOGE transactions have plunged to the 16,000 mark for the first time in four years. The figure provides a stark contrast to the DOGE-mania that swept the crypto market in April of this year resulting in peak 24-hour transaction levels of 140,000.

The lack of on-chain activity is reflected in the DOGE’s price and marketcap, with the price declining 69% since its all-time high of $0.73 in mid-May to sit at $0.22 at the time of writing.