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Ethereum Founder Inspires A Third Meme Coin In A Week

Mark Brennan
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Ethereum Founder Inspires A Third Meme Coin In A Week

Vitalik Buterin Is Having An Elon Musk Effect On The Crypto Community, Sparking The Meme Coin Craze of 2022.



In a tweet on Friday, Ethereum founder Vitalik Buterin proposed conditional burns as a solution to Twitter spam bots, saying the recipient of a message should have the right to force a user to burn a hypothetical token X if the response is not to their liking. 

Notably, Buterin’s suggestion came in response to a proposal from FTX’s Sam Bankman-Fried that social media messages be hosted on-chain. According to SBF, paying gas fees for messages will likely discourage spam bots. However, Buterin expressed the belief that conditional burns are better, an idea that got the support of SBF.

It is worth noting that despite the conversation context, a portion of crypto Twitter was only interested to see if someone would create an X token that would pump hard, as we have seen in the past week.

And again, in a matter of hours, not just one but two X tokens were launched—one on the Ethereum chain and one on the Binance chain. Notably, the one on the Ethereum chain appears to have garnered the most attention. In less than 24 hours, it is already up by 3,888%, with a total market cap of over $1 million, according to data from DEXTOOLS. On the other hand, the BSC token appears to be struggling. It is already down 74.59% and has a meager market cap of $262.

As reported by The Crypto Basic, two meme tokens were born this week, THE and DIE, inspired by Vitalik Buterin. Unlike their predecessors, neither X tokens have been able to attract a listing on a central exchange as of press time. Still, it will not be surprising to see, especially if the ERC20 token continues to garner a huge following.

X becomes the third meme coin that Buterin has inspired through his tweets in a week. As highlighted by one user, Buterin has the same effect Elon Musk had in 2021. It also points to just how quiet the crypto markets are and the desire for volatility amongst the crypto faithful.

After Reading Ripple’s Recent Motion, Attorney Deaton Thinks “SEC Will Not Be Granted Judgment” 

Lele Jima
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After Reading Ripple’s Recent Motion, Attorney Deaton Thinks “SEC Will Not Be Granted Judgment” 

The top U.S. attorney comments on Ripple’s opposition to the SEC’s summary judgment motion. 

Following the filing of Ripple’s opposition to the SEC’s summary judgment motion, several cryptocurrency analysts have shared views on what they expect as a possible outcome in the lawsuit. 

One of the people who commented on Ripple’s opposition to the SEC is Attorney John Deaton, the founder of Crypto Law and the lawyer representing XRP holders in a suit against the securities regulators. 

Deaton said he does not think the SEC will be granted a judgment at all in the case based on what he read in the recently-filed opposition by the Silicon Valley blockchain company. 

“I haven’t read the SEC’s opposition to Ripple’s summary judgment because it’s not filed yet, but after reading Ripple’s and knowing what amicus will say, I don’t believe the SEC will be granted a Judgment at all,” Deaton said in a tweet. 

However, he thinks danger still lies ahead for Ripple, since “the Judge says a jury must decide facts.” 

XRP Holders Hopeful After Ripple’s Recent Motion

The crypto community, especially XRP holders, watches as events unfold in the lawsuit. For XRP holders, a victory for Ripple would see U.S.-based cryptocurrency exchanges add support for the coin on their respective trading platforms. Relisting XRP on a U.S.-based exchange would create an opportunity for many U.S. residents to purchase the cryptocurrency via crypto trading platforms in the country. 

Although things have not gone as many expected, Ripple gave XRP holders renewed hope after filing its opposition to SEC’s summary judgment motion. 

The blockchain company noted that the SEC’s summary judgment did not provide legal theory to back its claim that XRP is a security. Ripple added that the SEC’s argument did not also prove that XRP meets the essential elements of the Howey test, to qualify as an investment contract. 

 

More Gaming Developers Adopting Cardano

Mark Brennan
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More Gaming Developers Adopting Cardano

Wolves of Rome COO Explains Why Many Developers Prefer Cardano Over Other Blockchains.



Puller gives reasons why Cardano is a favorite choice for Game developers.

There has been a growing adoption of Cardano solutions for the development of various blockchain-based projects. Many developers consider Cardano the suitable blockchain for their projects, ranging from non-fungible tokens (NFTs) to Play-to-Earn games.

In a recent interview, Kyle Puller, the COO, and Head of Marketing Wolves of Rome (WOR), a Cardano-based NFT trading card game, explained why the team behind the game chose to launch on Cardano.

Puller Explained Why WOR Launched on Cardano

According to Puller, the team behind the epic trading card game decided to launch Wolves of Rome on Cardano due to their familiarity with the ecosystem. 

“I think for us, many of the team were already settled into the Cardano community,” he said. Puller added that another factor that prompted the launch of WOR on Cardano is the “ethos” behind the network. 

“We love the ethos, the fact that it was relatively uncrowded, the measure twice cut once approach and of course the low gas fees. So, it made sense that if we were to contribute by building something it would be here,” he added. 

Puller noted that over the years, Cardano had become a suitable network for many game developers to build on based on its security and reliability. The COO of WOR expressed excitement over the fact that the trading card game launched on Cardano, adding that the leading blockchain “feels like home.”

“I am very happy that we settled in on Cardano. It feels like home.”

Cardano’s Mouthwatering Features

Puller’s comments reflect the opinions of many users of the blockchain. Due to its unending benefits, Cardano is gradually becoming a favorite choice for developers. The network offers low-cost and fast transactions compared to several Proof-of-Stake blockchains. 

Cardano is secure, and the team behind the network, Input Output Global (IOG), is not ready to jeopardize users’ safety. Based on this, the Cardano development team is always rolling out significant upgrades to keep the network secure and enhance transaction processing. 

Bitcoin (BTC) Spot Trading Dominance Skyrockets, Suggesting a Growing Accumulation

Albert Brown
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Bitcoin (BTC) Spot Trading Dominance Skyrockets, Suggesting a Growing Accumulation

 

Bitcoin (BTC) whales accumulate more of the asset as spot trading dominance sees a recent massive surge.


While some investors see Bitcoin’s current underperformance as a reason to be wary, others believe the asset’s current price actions are an opportunity to amass more tokens, as they reckon it is currently undervalued. Whales, whose movements are major determinants of an asset’s price actions, appear to have shown more interest in Bitcoin

Following Bitcoin’s journey to the $20k zone, Bitcoin’s spot trading volume on the world’s largest exchange, Binance, saw a massive dominance, as revealed by CryptoQuant’s CEO Ki Young Ju in a recent analysis.

As the asset plummeted to the $20k level in July, spot trading suddenly saw a surge in response, hitting a dominance rate of 84% on Binance – levels that hadn’t been witnessed for over two years. Additionally, BTC spot trading on America’s largest exchange, Coinbase, skyrocketed, hitting a dominance rate of 9% as of press time.

“Since Bitcoin price hit the $20k level, Binance spot trading volume dominance skyrocketed, and it’s now 84%. The second biggest is Coinbase, 9%,” Ki highlighted in a tweet, as he shared a chart to corroborate his analysis.

 

Ki admitted that he’s uncertain of the investors behind this massive surge. Still, he limited his options to institutions utilizing prime brokers and large crypto investors looking to leverage Bitcoin’s undervalued price condition.

Furthermore, Ki pointed out that BTC exchange volumes on spot trading have increased by over 2,000% in the past six months, as they see a 20x rise. 

“BTC spot trading volume for all exchanges increased 20x over the past six months. The volume renewed a year-high last month, but not much change in the daily closed price, indicating someone(s) is buying all the sell-side liquidity,” Ki noted in a separate tweet.

This increase in spot trading volume could either have been contributed by a growing trend of whale accumulation, or it could be the result of wash trading due to Binance’s recently-introduced zero-fee trading policy. Ki admitted that either or both of the mentioned could be the case, but he highlights that Binance, the world’s top exchange, does not need any form of wash trading to boost its trading volume stats.

A trend that points to whale accumulation is the recent movement of large bulks of BTC tokens that have been witnessed of late. The Crypto Basic recently reported the movement of about 48,000 BTC tokens from Coinbase Pro.

Additionally, Ki Young Ju pointed out that Bitcoin has reached the zone at which it tends to attract much interest from institutional investors. 

HOSKY Token Leads Top 10 Cardano Projects With The Highest Engagement

Lele Jima
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HOSKY Token Leads Top 10 Cardano Projects With The Highest Engagement

A list of Cardano’s top 10 most engaged projects shows that HOSKY Token leaves all others behind.



Cardano Daily, a media channel that covers Cardano-related developments, has released a list of the most engaged projects on the blockchain in the last seven days. 

The data was compiled by the leading cryptocurrency analytics platform, LunarCrush, and it contains a list of the top 10 Cardano projects that had the most engagement in the past week.

Image source: https://twitter.com/cardano_daily/status/1583450532831580160

According to the stats, HOSKY Token is ranked as the top Cardano project with the most engagement. The Cardano-based cryptocurrency project received 6,000 engagements over the past week. HOSKY Token is described by its founders as “a premiere low-quality s#it coin doggo meme coin.” 

HOSKY token has been attracting lots of engagement in the past week. As reported, HOSKY also topped other projects in a similar ranking earlier this month after recording a total engagement score of 8,400. This prompted Cardano Founder, Charles Hoskinson, to comment on the development, saying: “Hosky Token seems to be the most engaged project this week.” 

Sundaeswap

The second Cardano project with the most engagement is the leading decentralized exchange Sundaeswap. The Cardano-based DEX ranked the second-most engaged project, with a total engagement of 4,700. Sundaeswap is popular in the Cardano community because it’s the first decentralized exchange launched on the network.

JPG Store

JPG Store, a leading non-fungible token marketplace on Cardano, ranked as the third-most engaged project on the blockchain. The NFT marketplace got a total engagement of 3,400 over the past seven days.

MuesliSwap

Another Cardano-based decentralized exchange, MuesliSwap, was listed as the fourth project with the most engagement. Per the rankings, MuesliSwap received 3,300 engagements in the last seven days.

World Mobile 

World Mobile, a leading mobile network built on the Cardano network, is the fifth most engaged project on the blockchain. According to the stats, World Mobile had 2,800 engagements within the timeframe. 

Meanwhile, other Cardano projects that made to the top 10 list include Virtua $TVK (2,500); NFT project Clay Nation (2,400); Mocossi Planet (2,200); SingularityNET (1,200); and Liquid Labs (648).

Bitcoin (BTC) Trades Below $20,000 for the Longest Period Since 2020

Albert Brown
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Bitcoin (BTC) Trades Below $20,000 for the Longest Period Since 2020

 

Bitcoin (BTC) has recently consolidated below the $20,000 level for the longest time since late 2020.



Notwithstanding the persistent bear market, Bitcoin (BTC) has struggled to keep its head up, with assistance from several psychological support points. However, the asset’s recent fall below $20,000 has kept it underneath the zone for an elongated period last seen two years ago.

BTC is changing hands at a delicate position around the support at $19k. The asset started the day in this same position. Despite keeping its head above the support, today marks the 14th consecutive day that BTC is trading below $20k, indicating the massive resistance the asset is facing at the $20k zone.

The last time BTC traded below $20k for this long was two years ago – in Q4 2020. Bitcoin’s elongated period below the $20k level in 2020 was followed by the asset’s defeat of the zone, as it soared to a new ATH above $63k in the following months.

Despite revisiting and occasionally trading below the $20k zone, BTC has always summarily bounced back. The two weeks recently spent below this level have been the longest the asset has seen.

Once touted as a potent hedge against inflation, BTC has recently been hammered by growing economic concerns. While some have insisted that the asset’s underperformance in such times of economic perils shows that it is unreliable as an inflation hedge, others, such as Anthony Scaramucci, believe BTC can hedge against inflation, but not just yet, as it is still in its infancy.

BTC is changing hands at $19,033 as of press time, down 2.09% in the past seven days. The asset got knocked off the $20k point on October 7 and has since been kept below the level by the bears.

Additionally, sentiments are looking pretty bleak for the firstborn crypto. There appears to be a weak US investors’ buying pressure, as revealed by the Coinbase Premium Index. Further, the Fund Premium also reveals a low fund/ETF pressure on individual and institutional investors.

Critic Slams Terra Founder Says It’s A Classic Sign Of A Liar If Someone Can’t Stick With One Story

Albert Brown
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Critic Slams Terra Founder Says It’s A Classic Sign Of A Liar If Someone Can’t Stick With One Story

FatMan Calls Kwon A Liar, Insists the Terra Founder is Attempting to Evade Authorities.


Anonymous Terra informant FatMan has weighed in on Kwon’s recent public interview, calling the Terra founder a liar who is still attempting to evade authorities.

Do Kwon, founder of the infamous Terra ecosystem, remains a target for South Korean authorities as the manhunt gains steam. Despite reports of his arrest warrant and refusal to disclose his current whereabouts, Kwon remains active in the virtual space.

The South Korean engineer recently granted crypto journalist Laura Shin an exclusive interview on an Unchained Podcast episode. Kwon highlighted a few pointers in his defense against the South Korean government but insisted on keeping his location a secret, citing security concerns.

Barely three days following Kwon’s latest remarks, FatMan, who has persisted in his criticism of the Terra founder, took to discrediting Kwon’s claims, branding him a liar in an interview with Laura Shin on an Unchained Podcast episode Friday.

Shin hosted FatMan on the Unchained Podcast, as the anonymous Terra whistleblower was allowed to air his opinions on Kwon’s takes. FatMan discussed the Terra collapse and the events following it as he reiterated previous allegations levied on Do Kwon and the Luna Foundation Guard (LFG).

Speaking further, FatMan insisted on his claims that Do Kwon remains “a liar” and “a charismatic manipulator.” According to him, Kwon’s refusal to disclose his whereabouts is an attempt from the Terra founder to evade the South Korean authorities despite his claims of not being “on the run.”

FatMan highlighted the inconsistencies with Kwon’s remarks regarding disclosing his location, as noticed in his remarks on Twitter and the recent interview with Shin.

FatMan pointed out that on Twitter, Kwon claims he still goes on walks, and people from Crypto Twitter see him all the time, yet he claims he cannot reveal his location due to security concerns. According to the Terra informant, this is a classic case of “manipulative double speech.”

“… Oh yeah, and I also wanted to talk about his location because there’s a lot of manipulative doublespeak going on that front. So on Twitter, he goes, I’m not on the run. I have nothing to hide. I go on walks. I’m sure people from crypto Twitter see me all the time, and in the interview, he’s like uh no, sorry, I don’t want to reveal my location due to personal security reasons.

To me, it’s a classic sign of a liar. He’s not able to stick to one story. He just has, like, enough stories to write an anthology. The refusal to disclose his city is quite odd to me, ’cause there’s no risk of some psycho trying to break down your door like he claims, if he knows you’re in Singapore or Dubai, or whatever,” FatMan commented, “as long as your actual address isn’t out there, I think you’re safe.”

He mentioned that the only legitimate reason for any individual to refuse to disclose his broad city or region is if they are looking to evade law enforcement. “…because if you mention a city, Interpol might attempt to activate law enforcement in that region,” he added.

Recall that while Kwon has insisted that he’s not on the run from the law and has been cooperating with the authorities, he has persistently refused to disclose his location, as Singaporean authorities confirmed he is no longer in the city-state.

South Korean prosecutors have been on a manhunt for the 31-year-old cryptocurrency developer, with previous reports of a warrant calling for his arrest. Prosecutors have charged Kwon with violations of the Capital Markets Act and are looking to subject him to litigation.

In the interview with Shin, FatMan recommended that Kwon come out of hiding and face the South Korean authorities head-on. “At this point, instead of running and making up excuses, I think Do should face his reckoning and attend the trial so that fair verdicts can be made,” FatMan noted.

Shiba Inu Can Now Be Bought With 100 Plus Fiat Currencies

Zabi
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Shiba Inu Can Now Be Bought With 100 Plus Fiat Currencies

Taiwan-Based Fiat To Crypto Exchange Adds Support For Shiba Inu.


Taiwan-based ACE Exchange allows users to buy over 20 cryptocurrencies with fiat via Simplex, including Shiba Inu (SHIB).

Simplex, an EMI-licensed Fintech Company, providing payment processing solutions to online merchants, recently announced that it has entered into a partnership with ACE Exchange to enable users to buy 20 cryptocurrencies, including Shiba Inu, Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and others with fiat.

Following the partnership, ACE Exchange’s users would be able to buy Shiba Inu through Visa, Mastercard, SEPA, SWIFT, and over 100 other fiat funding options. Recall that Simplex first added support for the Shiba Inu token on November 4th, 2021.

Founded in 2018, ACE Exchange is one of Taiwan’s most professional Fiat-to-Crypto exchanges. The brand enables its users to start their trading career with a minimum deposit of $1 and, unlike other exchanges, charges low trading commissions. ACE Exchange supports a wide range of crypto assets, including rare coins and tokens, while charging no fees on deposits and withdrawals of funds. Moreover, the ACE Exchange also offers its users a staking service through which they can earn while holding their coins on the exchange.

Huobi Global Lists DIE After Vitalik Buterin Joke

Mark Brennan
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Huobi Global Lists DIE After Vitalik Buterin Joke

Huobi Global joins the list of exchanges to support the latest meme coin craze.

In a tweet hours ago, leading crypto exchange Huobi announced that it was listing DIE, the latest meme coin inspired by a Vitalik Buterin tweet, in less than 24 hours of the token’s creation.

It is worth noting that yesterday, tweeting about THE Protocol (THE), which roughly translates to DIE in German, joked that calling a crypto DIE is even funnier in Chinese.

As is the pattern now, in less than 2 hours, a protocol named DIE was created and outfitted with a Twitter page and website to boot. And in less than 24 hours, the protocol already commands a market cap of over $11 million as crypto degen traders who do not mind jumping into risky crypto projects with little information ape in hoping to ride on the wave of excitement from the Buterin influence.

Notably, the latest meme coin has already attracted listings from other well-known exchanges like MEXC Global and Hotbit.

DIE Protocol comes just days after THE Protocol was launched similarly from the idle musings of the Ethereum founder. Notably, THE managed to print 1000% gains on Tuesday, as reported by Nansen. Meanwhile, DIE in the last 24 hours has surged by over 5,700%, according to data from DEXTOOLS.

Like THE and Shiba Inu before it, the team behind DIE claims to have sent a percentage of the supply to Vitalik Buterin.

DIE is currently trading at the $0.000002059 price point, with Uniswap accounting for over 90% of its volume.

BabyDoge Ranked As Top Crypto Project With Highest Burn Rate

Mark Brennan
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BabyDoge Ranked As Top Crypto Project With Highest Burn Rate

BabyDoge ranked as the top cryptocurrency by burn rate.


HC Capital, a cryptocurrency data analysis platform, has ranked Baby DogeCoin (BabyDoge) as the number one cryptocurrency project with the highest burn rate.

The crypto data provider made this known in a tweet shared yesterday. According to the ranking, BabyDoge is followed by other cryptocurrency projects such as Volt Inu, Pig Finance (Pig Token), and Cronos (CRO), among others.

Celebrating the feat, Baby Doge Coin referred to the project as the “King of Burn.” 

Baby Doge Coin Burn Efforts

It is not surprising to see Baby Doge Coin ranked ahead of other cryptocurrency projects regarding token burn rate. The team behind Baby DogeCoin has been consistent in its quest to incinerate a huge chunk of the token’s total supply. Out of the 420 quadrillions total supply, BabyDoge claims it has burnt a total of 199.1 quadrillions.

babydoge leads burns
babydoge lead burns

As reported by TheCryptoBasic, BabyDoge conducted the biggest burn by incinerating 50 quadrillion tokens worth $88 million in one transaction.

In addition, BabyDoge also burnt three quadrillion tokens to celebrate its first birthday in June. Aside from these groundbreaking burns, the BabyDoge team also incinerates quadrillions of tokens from its total supply every month. In February, Babydoge burned 4.8 Quadrillion Tokens, 3.2 Quadrillion in April, and One Quadrillion in June.

BabyDoge team is still trying to accelerate its token burn efforts. It recently announced that it would use part of the fees obtained from its decentralized exchange, Baby Doge Swap, to buy and burn the token.

However, the massive burn efforts are not reflected in the cryptocurrency’s price. According to data from Coingecko, BabyDoge is down 81.5% from its all-time high, as it currently changes hands at $0.000000001180.

Cryptocurrency Burns

Several cryptocurrency projects have recently adopted burning part of their token supply to boost an asset’s value. Shiba Inu is considered by many as the cryptocurrency project that started the burn initiative to reduce supply. Shiba Inu’s burn program has incinerated billions of SHIB tokens in months. Interestingly, other cryptocurrency projects followed Shiba Inu to burn a portion of their tokens’ total supply to boost their value. 

The Terra Classic community is also making significant progress in burning a portion of the token’s total supply. So far, above 18B LUNC have been burnt.

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