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David Gokhstein Compares Terra Luna Classic (LUNC) To Shiba Inu (SHIB)

Mark Brennan
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David Gokhstein Compares Terra Luna Classic (LUNC) To Shiba Inu (SHIB)

Gokhstein compared LUNC to SHIB before it went parabolic but maintains a bit of caution.

In a tweet today, the founder of Gokhstein media, David Gokhstein, has compared LUNC to the early days of SHIB, noting the similar energy from the LUNC community.

However, he emphasizes that utility should be the primary focus of the community.

“LUNC reminds me a bit of the SHIB — in a sense of how crazy the community was when they first popped on the scene,” wrote Gokhstein. “But utility is key.”

It bears mentioning that Shiba Inu was the most popular crypto of 2021, surpassing even Bitcoin. Notably, the token surged by over 45,000,000% in the year. 

Like Shiba Inu, LUNC is increasingly dominating the crypto conversation due to its active community. It continues to lead search trends on data tracking platforms and dominate volumes on exchanges that have shown support for it. Market analysis firm Santiment Feed noted in September that LUNC showed similar volumes and price action to Dogecoin and Shiba Inu before they went parabolic.

LUNC recently tapped volumes equal to Ethereum and continues to be among the top 10 assets by 24-hour trading volume.

Gokhstein was dismissive of the token, calling it a lottery ticket. However, the entrepreneur has shown some excitement about the project following the roadmap release by the Terra Rebels.

SHIB remains one of Gokhstein’s favorite tokens, and his comparison of LUNC to it is a testament to how much the Gokhstein media founder’s views on LUNC have changed.

Shiba Inu Lead Developer Disclose New Shiba Eternity Details And Shibarium Role

Mark Brennan
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Shiba Inu Lead Developer Disclose New Shiba Eternity Details And Shibarium Role

Shiba Inu lead developer Shytoshi Kusama has disclosed new details about the Shiba Inu card collection game and the role of Shibarium.


In a series of messages shared on Twitter on Sunday by Lucie Sasínková, AKA GossipSHIB, Shiba Inu’s lead developer Shytoshi Kusama revealed new details of how profits from the Shiba Eternity game will be used and the role of Shibarium.

According to the pseudonymous developer, a portion of the profits will be invested to support the community long-term. Additionally, he asserted that a part of it would be sent to non-profit groups working towards good causes with nothing expected in return. While the developer does not specify the percentages for these projects, he asserts that no less than 45% of the proceeds for the game will be allocated to them.

Combined with the other 5% that The Crypto Basic reported will be set aside for burns, the community knows how 50% of the proceeds will be used. However, Kusama says how the remaining 50% of proceeds will be utilized will be a “trade secret” that will be used to ensure that the game fares well against the competition.

Notably, the community will vote for startups they want the network to invest in via Doggy Dao, meaning Bone will be used to vote.

The Role Of Shibarium

Meanwhile, Kusama notes that to reward Shiboshi holders, Shiboshi holders will be able to lease their Shiboshi to players of the blockchain version of the game to earn rewards. Moreover, Shiboshi holders who cannot lease their holdings will still receive consolation prizes.

According to Kusama, all of this will run on Shibarium.

Game Lore Revealed

It bears mentioning that Kusama has finally revealed the lore for the card collection game. It notably features stories of interplanetary battles and evolutionary species.

Additionally, the developer further noted, as highlighted by GossipSHIB in a separate tweet, that the game is open-ended. Consequently, developers can always add things in the future as the game evolves.

Shiba Eternity’s Performance So Far

Notably, the Shiba Inu card collection game has been launched in three countries (Vietnam, Indonesia, and Australia) alone for now. However, it has achieved a rating of 4.9 out of 5.

As reported by The Crypto Basic at the end of last month, the new launch date for the game is now October 6, about three days from now. Kusama continues to implore the community to download the game en masse on the launch day.

Meanwhile, Shibarium’s public beta testnet should be functional now, as per a September report.

Ripple Gets Two Companies Support Against SEC in One Week as Lawsuit Head in Ripple’s Favor

Mark Brennan
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Ripple Gets Two Companies Support Against SEC in One Week as Lawsuit Head in Ripple’s Favor

 

Ripple has continued to get support in the ongoing lawsuit against the SEC.


The Silicon Valley tech company partners have started showing interest in the case as the lawsuit against the Securities and Exchange Commission enters the summary judgment stage.

Last week, Philippines-based cross-border remittance company, I-Remit, requested permission to file an Amicus brief in support of the defendant’s summary judgment motion.

TapJets Wants to File an Amicus Brief: While the court and parties have yet to respond to the I-Remit request, another Ripple partner has also requested to file an amicus brief supporting the blockchain company.

TapJets, a private jet charter company, has thrown its weight behind Ripple in the lawsuit, requesting to file an amicus brief that would prove that XRP is not a security.

It is noteworthy that XRP is among the payment options accepted by the Texas-based jet charter company.

“TapJets interest, in this case, is as a business that accepts cryptocurrency, including XRP, in exchange for its services as a fiat-currency substitute. For TapJets, the acceptance of XRP as payment for services is vital in some instances: TapJets refers to this as the Friday Night Problem,” an excerpt of TapJets request letter reads.

According to TapJets, it accepts XRP payments to circumvent the issues associated with the traditional banking system, which mostly occurs outside banking hours.

TapJets noted that its decision to add XRP as a payment method came after it conducted a Twitter poll in 2018, and most participants chose cryptocurrency.

“Over 57,000 votes were cast in the public forum directed at TapJets customers; 43% voted for XRP as a choice of digital currency to pay for their flights. As a result, TapJets has adopted XRP, invested in technology to accept, process, and account for this digital currency, and now has an interest in the outcome of this litigation,” TapJets added.

The company added that it fears losing customers if it loses the ability to continue accepting XRP as a payment method. Its business will suffer both financially and goodwill among XRP holders.

Meanwhile, the SEC and Ripple are yet to respond to the request. While it is expected that Ripple will consider the news a welcome development, the SEC will likely kick against it or make a demand that could further delay the lawsuit’s outcome.

Recall that the chamber of digital commerce also joined the lawsuit favoring ripple.

563M Shiba Inu Burnt In A Week, 257M In One Transaction, 53M In 24 Hours

Zabi
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563M Shiba Inu Burnt In A Week, 257M In One Transaction, 53M In 24 Hours

Over 563.86 Million Shiba Inu (SHIB) burnt to ashes in the past week, with 53 Million in the Past 24 Hours.


Recent data reveals that the Community-led SHIB Burn initiative successfully reduces Shiba Inu’s circulating supply further by 563.86 Million Shiba Inu tokens in the past seven days and 53.66 Million in the Past 24 Hours via 54 separate transactions.

Top SHIB Burn Projects of the Week:

Three Community-led Burn Projects, including Shibburn.com, Travis Johnson’s SHIB Super Store, and 1Cent Token, burns an astounding amount of Shiba Inu in the past week.

Shibburn.com Burned 257.49 Million SHIB in One Record Transaction:

On September 30th, the Shib burn tracker and first dedicated SHIB Burn Project tagged Shibburn.com sent a record 257,495,644 (257.49M) SHIB to the dead wallet in one transaction. This was the biggest burn of the week.

Travis Johnson’s SHIB Super Store:

Travis Johnson’s SHIB Super Store organized its scheduled Weekly Burn Event on Sunday, September 2nd, and put a match to 40,108,730 (40.10M) SHIB in one record transaction executed using SHIB Burn Portal.

At this event, Travis Johnson, the owner of SHIB Super Store took the oath to stay diligent with his burn initiative by saying: “Smaller burn than normal, but October is off to a good start.”

He also shared that since its inception last November, his burn initiative has seriously damaged the gigantic circulating supply of SHIB. SHIB Super Store now has burned a whopping total of 3,022,826,872 (3.02B) Shiba Inu tokens and is eager to destroy more to take Shiba Inu to hit a dream 1 Cent ($0.01) mark.

1Cent Token Weekly Burn Event:

1Cent, a Community-driven token dedicated to SHIB Burn, manages to take the third spot. The Community-led Burn initiative organized its Weekly Burn Event on Monday, September 26th, 2022. Through this event, 1Cent sent a total of 17,049,151 (17.04M) SHIB to the “inferno” addresses in one transaction.

1Cent Project has been showing its solidarity with Shiba Inu Community since March 2022. Since then, 1Cent has removed a gargantuan 3,303,399,791(3.30B) via multiple transactions, the official website of 1Cent reports.

Past 24 Hours Burn:

Besides weekly burns, Shiba Inu Community also burned 53,663,523 (53.66M) SHIB via seven separate transactions in the past 24 hours, Shibburn.com reports.

Over 200,000 Tweets Call on Coinbase to List Luna Classic (LUNC) 

Lele Jima
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Over 200,000 Tweets Call on Coinbase to List Luna Classic (LUNC) 

Terra investors are making key moves to have LUNC listed on Coinbase.


As Terra Luna Classic burns continue to intensify, cryptocurrency holders are still looking for new ways to incinerate more LUNC. Part of the way to make this possible is to call on more cryptocurrency exchanges to add support for LUNC trading and implement the 1.2% tax burn recently launched on the Terra classic network.

Leading cryptocurrency trading platforms – Coinbase and Robinhood – are yet to enable support for LUNC trading due to the crypto asset’s controversial past.

Terra Investors Want LUNC Listed on Coinbase

While these two crypto trading platforms have many registered users, LUNC holders focus more on getting the cryptocurrency listed on the San Francisco-based exchange, Coinbase.

According to data from Coingecko, Coinbase is the third-largest cryptocurrency exchange, with a 24-hour volume of $1,025,605,577 ($1.02 billion). Following Coinbase’s features and popularity, LUNC holders believe getting the cryptocurrency listed on the exchange will accelerate the burn effort.

Based on this, the Terra community has been calling on Coinbase to list the cryptocurrency to contribute to the ongoing burns of the coin. So far, over 200,000 tweets have been made in this regard.

The idea is to get the attention of Coinbase executives led by Brian Armstrong, the exchange’s CEO and co-founder, and possibly have LUNC listed for trading on the platform.

The Coinbase team is yet to respond to LUNC holders’ requests. However, Terra investors are confident that these tweets would soon get to the point that the Coinbase team would have no choice but to list LUNC for trading and also implement the 1.2% tax burn.

LUNC Burns Soar

The Terra Classic community has continued to make significant moves to accelerate the burns of Luna Classic (LUNC). For victims of the Terra ecosystem collapse, burning a large percentage of LUNC’s total supply is the best way to revive the value of the cryptocurrency from the ashes.

As reported, the Terra community has implemented a 1.2% tax burn for all LUNC on-chain transactions as part of an effort to reduce the token’s total supply. So far, several cryptocurrency exchanges, including Binance, have also implemented the 1.2% tax burn on their respective trading platforms.

Trending on Reddit: Terra Founder Reportedly Given North Korean Citizenship

Lele Jima
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Trending on Reddit: Terra Founder Reportedly Given North Korean Citizenship

Kwon’s location is still unknown as rumors continue to heighten.



With the whereabouts of Do Kwon, the CEO and founder of TerraForm Labs (TFL), still unknown to authorities, many have debated where one of the most wanted men in the crypto world could be hiding.

The manhunt for Kwon intensified in the past week after the international policing organization Interpol issued a red notice for Kwon. However, since the red notice was issued, Kwon has still not been arrested by international law enforcement agents. 

The whereabouts of Kwon have become a major topic of discussion on various social media platforms, including Twitter and Reddit.

Is Kwon Now in North Korea?

At the moment, there is a post on Reddit claiming that the Terra boss was allegedly smuggled into North Korea from Singapore, which has made it difficult for the international policing organization to apprehend him. The post has continued to attract several reactions, including over 300 comments.

According to sources, the Terra boss was given North Korean citizenship in exchange for his expertise in crypto and blockchain. Notably, Kwon would help the North Korean government build a blockchain ecosystem.

“Do Kwon has allegedly been ‘spirited away’ into North Korea. In exchange for his blockchain expertise and to create a unique ecosystem for North Korea, he’s been given citizenship,” a Redditor with the username u/Woowoodyydoowoow said. 

Sources claim that Kwon was smuggled to North Korea after taunting victims of the Terra collapse. Additionally, upon his arrival in North Korea, sources also alleged that Kwon had continued taunting the country’s farmers for being poor. 

Another Redditor confirmed some of these claims, saying some of his friends currently living in North Korea have been in contact with a man in Pyongyang who has been making a similar comment. 

“Heard from my North Korean buddies on Runescape (gold farmers) that there’s a guy in Pyongyang walking around saying ‘have fun staying poor’ to everyone he passes by and when they try to respond, he says, ‘I don’t debate the poor. Continue in poverty ser,’ before walking off,” a Redditor said. 

Kwon’s Location Still Unknown

There is still no confirmation that Kwon is currently in North Korea or has been made a citizen of the country. Currently, global authorities have intensified the manhunt for Terra’s boss after South Korean prosecutors issued an arrest warrant for him for allegedly violating the country’s capital-markets laws.

Kwon’s location is still yet unknown. However, Kwon and his company have continued to deny reports that he is on the run.

Top Crypto Trader Says Terra Luna Classic (LUNC) Could Be Heading To $0.00045

Mark Brennan
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Top Crypto Trader Says Terra Luna Classic (LUNC) Could Be Heading To $0.00045

Despite believing that LUNC will never clinch the $1 price point, Michaël van de Poppe has expressed short-term bullish sentiment for the token.



In a tweet on Sunday, famous crypto analyst Michaël van de Poppe asserted that LUNC is showing strength, adding that the token could claim the $0.00045 price point.

“This one [LUNC] shows strength, as another breakout has happened,” the analyst wrote. “Currently into resistance, breaking and flipping = long zone. Otherwise, I’d be looking at long around $0.0003 for a potential play. If $0.00036 breaks, then I assume we’ll see $0.00045.”

It bears mentioning that at the end of August, van de Poppe expressed the belief that the token would never clinch the $1 price goal set by the community. According to the analyst, his reason for this was simple maths.

However, van de Poppe’s sentiments have not deterred the LUNC community. Since then, the LUNC community has implemented a 1.2% tax burn on all on-chain transactions while pressuring Binance into burning all trading fees obtained from LUNC trading activity, all to bring down the supply of the token to an ambitious target of 10 billion LUNC from 6.9 trillion.

TerRarity.io data shows that the tax has burnt about 3.4 billion LUNC in over a week, while LUNC Burner data shows that the tax has already burned 53.4 million LUNC today. Both platforms record an average daily burn of about 300 million LUNC.

While the data on the highly anticipated Binance burn is not out yet, the anticipation caused the token price to rise considerably over the weekend despite the overall market showing only minimal gains. Notably, the burn should have happened, as Binance said in the blog post announcing the burning of LUNC trading fees, that it would carry out burns at 00:00:00 (UTC) every Monday while publishing the data at the same time on Tuesdays.

The Crypto Basic expects the exchange to burn at least 10 billion LUNC in the first burn to be disclosed tomorrow.

LUNC is trading at the $0.0003192 price point, up 67.15% in the past seven days.

Cardano Founder Says Having A Wallet Certification Standard Is A Win/Win for Everyone

Lele Jima
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Cardano Founder Says Having A Wallet Certification Standard Is A Win/Win for Everyone

Hoskinson further supports the idea of creating a certified wallet standard 

Days after stating that the team behind Cardano’s development is hoping to have a certification standard for ADA wallets, Charles Hoskinson has further highlighted the benefits of the initiative for the entire ecosystem.  

In a tweet shared by Cardano’s founder yesterday, Hoskinson stressed that the best aspect of having certification standards for ADA wallets is that it will create an opportunity for catalyst funding. 

Hoskinson believes ADA holders will be encouraged to issue grants to their favorite wallet developers to upgrade their performance, security, and reliability in order to earn the certification status. 

Hoskinson further describes the certification initiative as a win/win for everyone, including ADA holders, wallet developers, and the development team behind Cardano. 

“The best part of wallet certification standards is that it will give a goal for catalyst funding. Ada holders can give grants to their favorite wallets to upgrade to a certified status to improve security, reliability, and performance. It’s a win/win for everyone,” Hoskinson said. 

Hoskinson Supports Healthy Competition

Despite stating the importance of having a certification standard for wallets, some ADA holders are still not in support of the initiative. 

An ADA holder with the username @CryptoBeth69 kicked against the idea of having multiple wallets. The Twitter user called on the Cardano team to focus on only one wallet, which will eventually become the official Cardano wallet.  

Responding to the user’s request, Hoskinson said competition is good and it helps to build a strong ecosystem. 

IOG’s Wallet Preference

The development comes a few days after the cryptocurrency entrepreneur proposed the idea of having certification standards to create the notion of certified wallets versus non-certified wallets. 

The certified wallet status will be given to wallets that meet the set standards established by the Cardano development team. 

“We hope to get rid of the notion of an official wallet altogether and instead have a certified wallet versus non-certified, and under the certification standards, you can put functional and non-functional requirements, including benchmarking and performance requirements for user experience,” Hoskinson was quoted as saying in a video shared with the Cardano community. 

Terra Classic (LUNC) Core Developer Proposes To Remove And Secure Stablecoin Market Swap

Albert Brown
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Terra Classic (LUNC) Core Developer Proposes To Remove And Secure Stablecoin Market Swap

 

Edward Kim proposes the first step to Terra’s stablecoin market recovery.


In a tweet today, reXx of the Terra Rebels announced that LUNC core developer Edward Kim had proposed to remove and secure the Terra stablecoin market swap, requesting comments on the proposal.

“LUNC community, @edk208 [Edward Kim] has proposed to remove and secure Stablecoin Market Terra Swap. Please comment on the recent agora,” tweeted reXx.

 

Notably, according to the proposal, the Terra Classic ecosystem has stablecoins supporting the top 23 fiat currencies. While swapping between LUNC and these stablecoins was disabled due to the Terra ecosystem collapse, swapping between these Terra stablecoins is still enabled via its Terra-to-Terra market swap module.

According to Kim, it is best to disable this feature to prevent further network exploitation and as a first step in its broader plan to rebuild the system with better capital controls.

“It is our recommendation that we either set the tobin tax to 100% or we remove fiat pairs from the whitelist via governance vote. We are leaning towards the tobin tax approach so that community members who may want to help build the oracle reward pool could do so by swapping their stablecoins to USTC, thus sending all swapped USTC to the oracle rewards pool.”

Notably, it is also the first step in the Terra Rebels roadmap released on Thursday.

U.S. Based Top Company “Rooms To Go” Now Accepts Shiba Inu (SHIB) Payments 

Albert Brown
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U.S. Based Top Company “Rooms To Go” Now Accepts Shiba Inu (SHIB) Payments 

A top U.S.-based furniture company enables Shiba Inu payments.



The adoption of canine-themed cryptocurrency Shiba Inu (SHIB) has recently grown exponentially. BitPay, the world’s leading cryptocurrency payment provider, stated that Shiba Inu holders could use the crypto asset to buy furniture from Room To Go, the third-largest furniture maker in the United States.

The development comes after BitPay disclosed that the top U.S. furniture maker now accepts cryptocurrency payments for its goods. To celebrate the feat, Rooms To Go launched a 7% cashback for customers who will be purchasing furniture with SHIB, as well as other cryptocurrencies.

The promo will run for a limited time, BitPay said in its announcement.

 

Launched in September 1990 by Jeffrey and Morty Seaman, Rooms To Go is an American furniture company that offers different types of products such as dining sets, bedroom sets, living room sets, etc.

According to Furniture Today, Rooms To Go is ranked as the third-largest furniture company in the United States, with over 132 locations. The company’s headquarters is located in Seffner, Florida, United States.

It is noteworthy that BitPay partnered with Rooms To Go to enable the furniture company to accept cryptocurrency payments. Based on this, Rooms To Go will also accept other BitPay-supported cryptocurrencies.

Aside from Shiba Inu, other cryptocurrencies that BitPay supports include Bitcoin, Ethereum, Dogecoin, Bitcoin Cash, Litecoin, and five stablecoins.

Massive Adoption of SHIB

The development marks a growing adoption of Shiba Inu and other digital currencies. Several reports have been published, indicating increased interest in the canine-themed cryptocurrency.

As reported by TheCryptoBasic, Biel Watches, a United States-based luxury company, announced last month that it will accept Shiba Inu payments following its partnership with BitPay.

Other top luxury brands that have also added support for Shiba Inu payments include Yachtzoo, Breitling, TAG Heuer, Nerdy Frames, and Hublot.

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