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Shiba Inu Finally Launches Much-awaited Product with 69% Discount

Abdulkarim Abdulwahab
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Shiba Inu Finally Launches Much-awaited Product with 69% Discount

The Shiba Inu development team and its partner D3 Global have finally unveiled the much-teased SHIB-themed product, “SHIB Names,” which offers enthusiasts up to a 69% discount.

SHIB Names Early Access Launches

Shiba Inu domain name partner D3 Global officially launched early access to the widely teased SHIB Names. D3 disclosed this development in a recent post on X, noting that the registration portal is now live.

Similarly, the Shiba Inu development team confirmed the launch on X. It added that SHIB enthusiasts have an exclusive coupon code for a 69% discount on their SHIB Name reservation.

The applicable discount code is “SHIBARMY,” which is usable on the official SHIB Name registration portal “https://d3.app/shib.”

Securing Your Shiba Inu Identity

To secure their Shibdentity, users can register and secure SHIB names through the dedicated portal using simple steps.

This involves visiting the official website and entering their personalized SHIB name in the search bar on the first page of “https://d3.app/shib”.

If the desired name is available, users are guided to add it to their cart and proceed to checkout. Users will find payment options, including cryptocurrency or credit card, upon signing in.

It is worth noting that the cost of SHIB Names varies. Standard names cost $10 annually, while premium names cost $50. Premium names include examples like seller*shib, voice*shib, loan*shib, earn*shib, and anon*shib.

Currently, SHIB Names utilize a star (*) instead of a dot (.) due to the limited compatibility with Web3 applications. ICANN must approve a valid domain that uses a dot extension and is compatible with the DNS. Efforts are being made to achieve this compatibility.

69% Discount

Notably, users can claim a one-time 69% discount on their initial shopping cart of up to 20 SHIB Names. According to the notification, this promotion will be accessible for the first 69 hours following the opening of early access.

Meanwhile, numerous Shiba Inu community figures will disclose their personalized coupon in the coming days. Shiba Inu enthusiasts can expect it from Shytoshi Kusame, Lucie, The Shib Magazine, Sheboshi, Shiboshi, and others.

SHIB Names Use Cases

According to the Shiba Inu partner D3, numerous exciting developments are in progress to offer Shiba Inu enthusiasts ample benefit from their SHIB Names.

It includes offering a simple, multichain wallet address accessible across different blockchains. Also, it offers a cross-platform username applicable across different Web3 platforms such as DeFi, GameFi, and SocialF.

Besides, SHIB Names serve as infrastructure identifiers for smart contracts, nodes, or other decentralized services.

Shiba Inu Profits Comparison: MakerDAO CEO vs. Tron CEO

Mark Brennan
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Shiba Inu Profits Comparison: MakerDAO CEO vs. Tron CEO

MakerDAO CEO Rune Christensen made more profits on Shiba Inu trading than Tron CEO Justin Sun, as the latter made an early exit from the SHIB market.

These industry veterans’ Shiba Inu trades recently came into the spotlight as crypto analytics platform Lookonchain pointed out the profits and losses made by Rune and Justin Sun as SHIB hit multi-year highs this week.

Lookonchain noted that Rune Christensen sold off some of his SHIB holdings and acquired 619 MKR for approximately $1.3 million at an average price of $2,100.

The Game-Changing Shiba Inu Moves

Per the Lookonchain data, Rune injected 500,000 USDC to buy 25 billion SHIB in two tranches on March 1 and Mar 4, respectively.

Rune then sold about 8 billion SHIB for approximately $245,500 in USDC. Following the selloff, the Maker DAO CEO still has a total of 17 billion SHIB worth $531,000 in his portfolio, indicating that he made a profit of about $275,000.

Justin Sun has a history of buying and selling Shiba Inu, with billions of SHIB traded over the past few months.

According to the Lookonchain data and as reported earlier by The Crypto Basic, Justin Sun deposited 20 billion SHIB to Poloniex and sold 8.18 billion SHIB for 212,560 USDC as of March 4.

If he had not sold prematurely, Justin Sun might have made over $359,838.2 when the price of Shiba Inu soared to an intra-day high above $0.00004 on March 6.

Bigger Boom Ahead

Despite the relative loss incurred from the early exit, Justin Sun now holds 524 billion SHIB worth $14 million. Sun boasts a profit worth $9.5 million based on the current market valuation.

Depending on when he plans to sell his remaining SHIB holding, Justin Sun and Run Christensen will likely make more profit if the price of the token keeps soaring.

There is an ongoing correction, with the token’s price and market capitalization down by 10.53% in 24 hours to $0.00003662 and $21,563,330,136.

Shiba Inu: Shibarium Surpasses 400M Transactions 

Lele Jima
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Shiba Inu: Shibarium Surpasses 400M Transactions 

Shiba Inu’s L2 blockchain Shibarium causes a stir in the crypto world as it achieves yet another milestone. 

In an exciting development, Shibarium’s total transactions have finally surpassed the 400 million threshold. Lucie, Shiba Inu’s marketing lead, also confirmed the development in a post on the X platform.

She used the opportunity to congratulate all Shibarium users for helping the L2 network achieve the jaw-dropping milestone.

Shibarium Surpasses 400M Transactions

According to data shared by Lucie in the early hours of today, Shibarium had processed a total transaction of 400,096,901 (400.09 million). Interestingly, the figure has skyrocketed to 400,253,293 (400.25 million) in the hours leading up to press time.

Despite recording a massive plunge in daily transactions, Shibarium has surpassed the 400 million transaction threshold. In December, Shibarium averaged between 5 and 7.5 million daily transactions.

However, the number of daily transactions plummeted earlier this year to around 1 million. At press time, Shibarium boasts a daily transaction of 1.81 million.

The remarkable surge in total transactions comes less than seven months after Shibarium launched on the mainnet. It should be recalled that the mainnet version of Shibarium had a rough start that saw it go offline for two weeks.

Despite the setback, Shibarium was still able to achieve notable feats, especially in terms of adoption. As reported earlier, Shibarium hit 1M addresses on the mainnet in just 18 days after its launch, faster than other L2 networks like zkSync, Optimism, and Arbitrum, which took 71, 191, and 303 days, respectively, to achieve a similar milestone.

Possible Factors Driving Shibarium Transaction Volume 

One major factor boosting Shibarium’s transaction volume is its low fees. Users are expected to pay as low as 0.0000219 BONE ($0.000021) per transaction, which is much lower than what most prominent blockchains, including Bitcoin and Ethereum, charge per transaction.

Another factor that played an integral role in boosting Shibarium’s transactions is Shiba Inu’s dedicated community members. These enthusiasts have contributed to the widespread adoption of Shiba Inu projects, including Shibarium. They either convince people to use Shibarium or become users themselves.

Other Impressive Shibarium Stats

Meanwhile, other Shibarium stats include a record of 3.54 million total blocks with an average block time of 5.0 seconds, 1.36 million wallets, 65,130 total accounts, 15,553 total contracts, and 9,316 tokens deployed.

Furthermore, the total value locked (TVL) on Shibarium is currently above $1 million. Data from DeFiLlama shows that the network’s TVL had surged to $2.25 million on March 5, when SHIB spiked above $0.00004.

Following the recent correction across the broader market, Shibarium’s TVL currently stands at $1.75 million.

Shiba Inu Partner Issues New Warning Ahead of Token Launch 

Lele Jima
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Shiba Inu Partner Issues New Warning Ahead of Token Launch 

K9 Finance, an official Shiba Inu partner, issues a new warning to the crypto community ahead of the launch of its native token, KNINE.

In an X post yesterday, Buzz.Shib, the founder of the K9 DAO, warned the crypto community that its native token is not yet available for trading on Ethereum-based decentralized exchange Uniswap.

He stated that while the token has been deployed on the DEX, the K9 team has paused its trading until March 7, the date scheduled for the official launch of KNINE. According to Buzz, anyone trying to purchase KNINE before its official launch date will receive an error message.

Structure for KNINE Launch

He outlined a structure the team will follow for KNINE’s launch. Per Buzz, the K9 team will add $100,000 worth of liquidity on Uniswap, with $50,000 allocated for KNINE, while the other $50,000 will be in ETH.

Afterwards, KNINE trading on Uniswap will commence. The team will then notify crypto community members via its X and Telegram channels that the tokens have been “unpaused” for trading.

Furthermore, Buzz revealed that the team will also update its website with the official KNINE contract address and a link to where users can purchase the token.

K9 Warns Users Ahead of KNINE Launch

Having completed the presale of KNINE in January, the team disclosed that the token generation event (TGE) will take place on Uniswap on March 7.

As the Shiba Inu community eagerly anticipates KNINE’s deployment on Uniswap, Buzz had to release the warning to protect unsuspecting investors ahead of the TGE. Notably, scammers are seen making false claims that KNINE trading has commenced.

These scammers attempt to lure unsuspecting investors into clicking phishing links that could result in a loss of funds. As a result, the K9 team stressed that the KNINE token is still paused on Uniswap. It cautioned potential KNINE investors to only follow official links and double-check every link before clicking.

For context, K9 Finance is a liquid staking derivative platform on Shiba Inu’s L2 blockchain Shibarium. It aims to establish the foundational pillars of real decentralized finance (DeFi) within the Shibarium ecosystem.

In February, Shiba Inu unveiled K9 as an official partner of Shibarium. With this, K9 became an official Shibarium validator, thus allowing stakers to earn rewards in BONE. Following its introduction as a Shibarium partner, Buzz claimed that the K9 liquid staking platform could bolster the network’s total value locked (TVL) by up to 50X.

Top Analyst Sees XRP Reaching $107 Amid Potential Bullish Hammer Formation

Sam Wisdom Raphael
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Top Analyst Sees XRP Reaching $107 Amid Potential Bullish Hammer Formation

Market analyst and prominent chartist EGRAG expects XRP to rally to $107. He cites historical correlation and the potential formation of a hammer candlestick in the 3-month timeframe.

XRP has not gained as much as other altcoins in the ongoing bull run, but analysts remain confident in its potential, holding onto the narrative that the crypto asset tends to “pump last and largest.”

Potential Hammer Formation

One such analyst is EGRAG, who remains steadfast in protecting potential price rallies for XRP. The chartist drew inspiration from a three-month chart in one of his latest analyses. EGRAG cited historical data and the potential formation of a hammer candlestick for his bullish projection.

According to him, the latest three-month candlestick, which opened in January and is poised to close by the end of this month, is bullish. Calling attention to the shape of the candle, he confirmed that XRP could potentially form a bullish hammer depending on how it ends this month.

Notably, the analyst sees XRP soaring to a high of $1.27 before closing the current candle. However, this $1.27 high is expected to align with a major resistance point stationed at the upper trendline of a multi-year symmetrical triangle. 

XRP Trades Within Symmetrical Triangle 

Data from EGRAG’s chart indicates that XRP has continued to trade within this symmetrical triangle since it dropped from the $3.31 all-time high in January 2018. Interestingly, the last time XRP witnessed such a multi-year symmetrical triangle was from mid-2013 to late 2016.

Nonetheless, following a breakout in Q1 2017, XRP surged dramatically, surpassing a measured blue line that drew out its price rally. EGRAG has now presented a similar measured line, with the latest one colored green. According to him, if XRP follows this green line like it did the blue one, it could hit major milestones.

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If the green path plays out, EGRAG has already identified some crucial price targets. He expects XRP to rally to a $7.5 high before clinching a two-digit price of $11. However, the analyst believes the crypto asset could hit more substantial targets, projecting a run to $27.

Should XRP breach the $27 price level, EGRAG sees a potential push toward a three-digit value of $107.3. Meanwhile, XRP has broken below the $0.60 level amid the latest market correction, now trading for $0.5960. XRP would need to surge by 17,903% from here to hit $107.3.

Charles Hoskinson Is Not Leaving Cardano for Midnight

Abdulkarim Abdulwahab
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Charles Hoskinson Is Not Leaving Cardano for Midnight

Cardano founder Charles Hoskinson has openly declared that he has no intentions of abandoning the Cardano blockchain for its sidechain, Midnight.

Hoskinson issued this statement in response to a community member’s request for a straightforward answer regarding his conceivable departure.

“I want a publicly accountable yes or no. Is Charles leaving Cardano for Midnite? Or is he now multichain? This isn’t a slide into my DM question,” community member Jeff asked.

Despite the light-hearted manner in which the question came, Hoskinson addressed it seriously.

Cardano Founder Reacts

In particular, Hoskinson unequivocally states that he is not leaving Cardano for Midnight. Furthermore, he supports his statement by highlighting that the multitude of engineers from Input Output Global who work daily on Cardano affirm the integrity of his claim.

Also, another Cardano enthusiast pointed out that the Cardano sidechain Midnight has a substantive chief executive officer, Eran Barak, appointed precisely a year ago. This commentary essentially suggests that Midnight does not have a leadership vacancy position that Hoskinson may move to occupy.

Meanwhile, Jeff replied by providing the foundation for the question. He claimed rumors were circulating that Charles Hoskinson might request funds in the upcoming Project Catalyst and could supposedly contemplate leaving Cardano if his requests were denied.

“[I’m] glad that was cleared up,” Jeff submitted.

Tension in the Cardano community

Notably, the broader context for which this conversation surfaced concerned recent tensions in the Cardano community.

Charles Hoskinson sought public clarity from Congo, one of the founders of The Ape Society (TAS), a Cardano-based NFT project, regarding their potential departure from the blockchain.

During a recent X space discussion, Congo expressed concerns, noting signals suggesting that Cardano whales may not appreciate TAS’s presence in the ecosystem. He remarked, “It is what it is, and we will act accordingly.”

Given the ambiguity in Congo’s statement, Hoskinson demanded a “publicly accountable yes or no” on TAS’ position regarding leaving Cardano for another chain.

Congo has explained that his statement meant a switch to listen to the community. He noted they have done so, and the community has expressed satisfaction with their actions. 

Furthermore, he clarified that random individuals demanding they leave Cardano do not reflect TAS’s intentions. In essence, he emphasized that TAS is not planning to leave Cardano.

SkyBridge Founder Scaramucci Says Bitcoin Would Reward Patient Investors

Lele Jima
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SkyBridge Founder Scaramucci Says Bitcoin Would Reward Patient Investors

Anthony Scaramucci continues to promote the widespread adoption of Bitcoin, emphasizing that investors who are patient would be well rewarded. 

With Bitcoin (BTC) edging close to sealing a position above its all-time high (ATH), Anthony Scaramucci, the founder of SkyBridge and former White House Director of Communication, has made fresh declarations regarding the top asset. 

Patient Investors Will Be Rewarded 

In a recent episode of CNBC’s Last Call business show, Scaramucci speculated that Bitcoin would reward patient investors in the long run. 

According to him, investors who are patient with an appropriately sized portfolio in Bitcoin would be well rewarded in the future. 

“If you stay patient with Bitcoin and have it appropriately sized in your portfolio […] I think you’ll be well rewarded,” he remarked. 

Furthermore, the American businessman shared insight into SkyBridge’s Bitcoin investment. According to Scaramucci, SkyBridge’s investment in Bitcoin in the past two years has been rewarded in the last three or four months. 

SkyBridge’s Crypto Funds Records Huge Gain

It bears mentioning that 2023 was SkyBridge’s most profitable year since its inception in 2005. The hedge fund saw a substantial gain of 130% in its crypto investments in 2023 alone. Specifically, SkyBridge is majorly invested in Bitcoin, Ethereum, and Solana (SOL). 

The prices of the major crypto assets in SkyBridge’s portfolio have surged massively since December. For instance, Bitcoin rallied from $37,000 on December 1 to over $68,000 earlier this week.  

Scaramucci, who speculated that Bitcoin would surpass its all-time high (ATH) price of $69,044, almost saw his prediction come true on March 5, when BTC price spiked to $68,869 on March 5. 

However, Bitcoin collapsed heavily in the late hours of yesterday, plunging to around $60,000. So far, the market has stabilized from yesterday’s correction as Bitcoin currently changes hands at $66,899.  

Scaramucci Expects Bitcoin Adoption to Surge in the Future 

Meanwhile, Scaramucci suggested that Bitcoin adoption will surge like the internet over the years. The financial expert mentioned that the global adoption of Bitcoin is currently at 5%. 

Per Scaramucci, Bitcoin’s current adoption is similar to that of the World Wide Web in its early days, specifically in March 1999, during the era of Web 1.0. 

Interestingly, the internet has recorded an enormous spike in adoption from 1999 till date, becoming an integral part of everyone’s lives. 

“So I want you to think about what happened from Web 1 1999 to wherever we are today 25 short years later,” he concluded. 

Bitcoin Trading Volume Surpasses $46B, Highest in 3 Years

Mark Brennan
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Bitcoin Trading Volume Surpasses $46B, Highest in 3 Years

Bitcoin (BTC) broke many milestones this week with one of the records featuring the retest of the $46 billion trading volume for the first time since 2021.

According to data from crypto market data platform Kaiko, the aggregated Bitcoin trading volume on March 5 came in at $46.25 billion, as traders troop into the market amid Bitcoin’s recent ATH price of $69,170.63.

The Bitcoin trade volume has had a series of upheavals since the start of this month, with March 1 opening figures coming in at $16.46 billion. This figure dropped to $9.15 billion on March 2 before retracing its steps to new highs.

Exchange Contributions

Centralized Exchanges account for Bitcoin’s largest volume. Per the Granular data from Kaiko, Binance took a major share of the overall volume, which comes in at $23.84 billion.

Coinbase, Bybit, and OKX also recorded billions in trading volume. While Coinbase’s volume topped $4.83 billion, Bybit and OKX recorded $4.29 billion and $3.53 billion, respectively.

The majority of trading platforms have seen notable upticks in their respective trading volumes since the start of the month. A report from The Crypto Basic as of February 29 pegged Binance’s volume at $17.09 billion with Coinbase, Bybit, and OKX recording $2.98 billion, $2.92 billion, and $2.02 billion, respectively.

The Michael Saylor Effect

The hype in the broader market regarding Bitcoin trading is notably being bolstered at the moment by several factors, including MicroStrategy’s unwavering approach to accumulating more BTC.

While boasting over 193,000 Bitcoin currently worth $12.787 billion, the firm has announced the pricing of its $700 million Senior Convertible Notes, a debt offering it hopes to use to buy more of the digital currency.

Overall, the spot Bitcoin ETF market, and the upcoming halving event are among the catalysts that are set to help drive not just the volume but the price of Bitcoin in the long term.

Binance Suspends Solana Network Withdrawals: Here’s Why

Sam Wisdom Raphael
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Binance Suspends Solana Network Withdrawals: Here’s Why

Binance, the world’s largest crypto exchange, has suspended withdrawals on the Solana network due to increased volumes amid the market run.

The recent market uptrend has triggered a surge in demand, attracting a pool of investors and more market participants. Amid this pattern, exchanges with a larger user base have begun experiencing issues, the latest being Binance.

Binance Suspends Solana Withdrawals

Binance recently announced that they have suspended withdrawals on the Solana network, citing a massive surge in transaction volume. The crypto exchange had investigated the cause of a rising incidence of withdrawal challenges among users.

According to the Binance team, they have now completed their investigation and are looking to implement a working solution to the withdrawal issues. However, to ensure stability, the exchange revealed that it had suspended all withdrawals through the Solana network.

This suspension is temporary, and would only last until the maintenance is complete and a viable solution is implemented. Notably, the exchange expects to implement such a solution by March 9, three days from now. 

It bears mentioning that the suspension does not particularly impact Solana (SOL) as a token, but the Solana network itself. As a result, market participants cannot withdraw any assets, whether SOL or USDT, through the Solana blockchain.

An investigation carried out by The Crypto Basic confirms that the exchange has indeed suspended withdrawals through the Solana network. Notably, the issue does not impact all Solana functionalities in general, as data indicates that the network is still operational, with Feb. 6 being the day of the last downtime. 

Binance Suspends Solana Withdrawals~2
Binance Suspends Solana Withdrawals

A History of Suspensions

The recent development would not mark the first time Binance is suspending Solana withdrawals. In January 2022, the exchange revealed that it would occasionally pause withdrawals on the Solana network due to a congestion in the blockchain to clear withdrawal backlogs.

Moreover, in April 2022, Binance also announced a suspension of withdrawals through the Solana network. The crypto exchange cited a massive increase in withdrawal volume, with most of the transactions featuring empty transaction IDs. Binance also stopped Solana withdrawals in June 2022.

The latest surge in transaction volume could be attributed to an increase in network activity due to the market run. Coinbase previously experienced general issues related to user balances due to the influx. Notably, SOL has surged 553% since last September, currently trading for $129.

Forbes Spotlights Predictions on Cardano Price Prospect in 2024

Mark Brennan
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Forbes Spotlights Predictions on Cardano Price Prospect in 2024

Forbes featured remarks from Gracy Chen, the Managing Director of Bitget, who hinted at the fundamentals that will stir the growth of Cardano (ADA) in 2024.

Speaking in an exclusive interview with Forbes Advisor, Chen highlighted the importance of Cardano in the broader digital currency ecosystem as a hub with active developers. Chen acknowledged the growth of unique aspects of Cardano as an ecosystem including staking. She noted how these aspects can help trigger a long-term breakout for ADA.

As part of her accolade for Cardano, Chen noted that as of January 24, the blockchain boasts “135 projects launched and 1,264 projects in various stages of development.”

Key Cardano Catalysts

Cardano has made impressive strides this year, with the token’s price jumping to its highest level since May 2022. Though Chen gave a modest projection that the sell wall for Cardano will be fixed at $0.6, ADA hovered around this zone for some time before breaking the $0.7 price mark on February 29.

As of January, Gracy Chen commented on the ADA staking boom which has seen more than a 300% surge thus far this year. In her words, “ADA’s staking has experienced a 300% surge this year alone, with around 22.79 billion ADA staked, resulting in a commendable staking ratio of 63%.”

While Cardano is not particularly deflationary, the ADA staking helps introduce an element of scarcity that might be positive in driving the price of the coin to new heights. The Bitget MD also commented on the slowing momentum in active ADA users’ noting the level of adoption in the Cardano ecosystem.

“Over the past 12 months, daily users have fluctuated between 40,000 to 80,000, but recent data indicates a trend towards 60,000,” Chen said.

When Would ADA Hit $1

In determining when the price of ADA will hit the $1 price mark, different sources have different projections with Changelly pegging the timeline at May 2025. 

From its current price of $0.7329, this projection implies growth of 36.4%, a figure that is realistic for the time. Cardano maintains a strong correlation with Bitcoin which recently retested its ATH. Data from the crypto analytics platform IntoTheBlock pegs this correlation at 0.93 and this might fuel the coin’s rally should Bitcoin sustain its growth momentum.

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