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481 Million Shiba Inu Burnt In Seven Days As More Ways Of Reducing Shib Supply Coming

Zabi
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481 Million Shiba Inu Burnt In Seven Days As More Ways Of Reducing Shib Supply Coming

 

More ways to burn Shiba Inu On the way.



Shiba Inu Community Destroyed Another 481 Million SHIB in the Past 7 Days, 61.32 Million in the Past 24 Hours as SHIB Lead Developer, Shytoshi Kusama Confirms that Shiba Inu Game dubbed “Shiba Eternity” Will Help in Reducing Shiba Inu’s Supply.

Cheering the SHIB lead developer Shytoshi Kusama’s announcement that the Shiba Inu CCG Game tagged “Shiba Eternity” will contribute to Shiba Inu Burn, the Community-led initiatives burned nearly half a billion Shiba Inu tokens in the past seven days, over 61.32 Million in the past 24 hours. One of the Community-led SHIB Burn Projects sent over 50 Million SHIB to the “inferno” address in a single transaction.

Shytoshi Kusama, in his recent tweet, confirmed that the Shiba Inu CCG Game tagged “Shiba Eternity” will also contribute towards Shiba Inu Burns despite previous comments suggesting it wouldn’t.

The announcement comes as a surprise for Shiba Inu Community as all the developers of the Shiba Inu Ecosystem, including Eric M, Kaal Dhairya (@kaaldhairya), and Shytoshi Kusama, in the recent past continued to say that all new platforms in the Shiba Inu ecosystem would contribute towards Shiba Inu burns except Shiba Inu Game because of some reason.

One of the tweets posted by the lead SHIB developer on December 30 reads:

“ALL NEW PLATFORMS WILL HAVE SHIB BURNS. Shibaswap V2. Shibarium. Shibanet. The only exception is the game. But there is a reason for that.”

However, Shytoshi Kusama still has to disclose further details about the Shiba Eternity and its role in Shiba Inu Burn.

Shiba Inu Community destroyed a whopping total of 481,082,775 (481.08M) SHIB through 82 separate transactions in the past seven days.

Furthermore, Shibburn.com states that the Community has also incinerated a total of 61,329,300 (61.32M) in 9 separate transactions in the past 24 hours.

One of the Community-led SHIB Burn Projects named “SHIB Super Store” owned by Travis Johnson sent an astounding total of 50,085,558 (50.08M) SHIB to the dead wallet in one significant transaction using SHIB Burn Portal.

So far in the month of September, Travis Johnson’s SHIB Super Store has burned 139 Million SHIB, worth about $1400 in three separate transactions. Whereas, since its inception in November 2021, the SHIB Super Store reports that it has set fire to a staggering total of 2.93 Billion SHIB.

Shiba Inu, Ripple, Cardano, and Ethereum Social Interests Spike Despite Collapse

Mark Brennan
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Shiba Inu, Ripple, Cardano, and Ethereum Social Interests Spike Despite Collapse

Social interests in ADA, XRP, SHIB, ETH, and Matic have continued to soar while discussions about other cryptos have reduced.


Despite the plunge in cryptocurrency prices over the weekend, certain digital currencies have recorded massive spikes in social engagement in the past few days.

Leading cryptocurrency on-chain and social metrics platform, Santiment, has shared interesting stats about the top crypto assets with good social engagements. 

According to Santiment, the top crypto assets with good social interests in the past few days include Ripple (XRP), Cardano (ADA), Shiba Inu (SHIB), Ethereum (ETH), and Polygon (MATIC).

While these cryptocurrencies have been highly mentioned across various social media platforms, including Twitter and Facebook, other digital currencies have seen lower engagements. 

“Crypto markets have obviously taken a big hit over the past week, but it’s interesting to see where social interests have shifted. ETH, XRP, ADA, MATIC, and SHIB have increased in discussions, while most other assets are being discussed far less,” Santiment tweeted. 

Notably, the cryptocurrencies that made a list have at least one development that is underway or has been implemented. It is not surprising to see Cardano, Ripple, Shiba Inu, and Ethereum on the list.

What’s Fueling ADA, XRP, and SHIB Social Engagements?

Cardano is close to launching its much-anticipated Vasil hard fork. The upgrade is considered Cardano’s most significant hard fork since the network launched. Vasil was earlier scheduled to roll out in June, but due to unforeseen circumstances, the upgrade was postponed to a later date.

The team behind the project has finally concluded that Vasil will launch on September 22, 2022. The excitement among Cardano enthusiasts saw the network’s social engagement grow to 108.27 million in a single day, the highest in the past 90 days, crypto social intelligence platform Lunar Crush tweeted.

For Ripple, the blockchain project has continued to attract social engagement as the Silicon Valley tech company and the SEC publicly file their summary judgment motions. The filings of the summary judgment motions indicate that the lawsuit is close to an end. 

Furthermore, Shiba Inu made a list following the announcement that the project’s Play-to-Earn (P2E) game Shiba Eternity, has been launched in Australia for beta testing. Earlier today, the pseudonymous lead developer of Shiba Inu, Shytoshi Kusama, revealed that the game would soon be launched globally. 

The long-awaited Ethereum Merge was recently completed earlier last week, an event that resulted in the birth of another forked network, EthereumPoW. Since the Merge launched, the price of ETH has plunged massively below $1,300. Thus, prompting reactions from social media users.

 

European Central Bank Finalize 5 Partners For Digital Euro, Including One Ripple Partner

Mark Brennan
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European Central Bank Finalize 5 Partners For Digital Euro, Including One Ripple Partner

European Central Bank Selects Five Companies for digital Euro Prototype Testing.


The European Central Bank (ECB) is to trial five prototype digital euro wallets in what it says is a key step toward the possible launch of a digital version of the Euro. The bank has selected five companies from 54 applicants to participate in its prototyping exercise to make this happen.

The ECB has announced that it will test prototype solutions created in conjunction with the European Payments Initiative (EPI), CaixaBank, payment services providers Worldline, and Nexi, and e-commerce giant Amazon to mimic consumer steps to complete digital Euro transactions.

Each firm will create a user interface prototype for one specific use case. CaixaBank will focus on peer-to-peer (P2P) online payments, Worldline on P2P offline payments, EPI on the point of sale (POS) payments initiated by the payer, Nexi on POS payments initiated by the payee, and Amazon on e-commerce payments.

Leading Provider of Payment Services

Worldline is the only Ripple partner that has been authorized by the European Central Bank (ECB) to develop a prototype digital euro wallet, owing to Worldline’s experience and assets in creating a digital wallet that can handle cash deposits without connectivity.

The leading provider of payment services shares the ECB’s and its partners’ common objective, which is to be an active participant in the evolution of payments. Contributing to major and potentially revolutionary initiatives like the digital euro can help deliver pilots and launch a successful CBDC rollout. Its entire corporate product line may be utilized to establish trials.

The European Central Bank will conclude this project in 2023 and release the findings to the public.

“This prototyping exercise aims to test how well the technology behind a digital euro integrates with prototypes developed by companies,” the ECB says. “Simulated transactions will be initiated using the front-end prototypes developed by the five companies and processed through the Eurosystem’s interface and back-end infrastructure.”

“There are no plans to re-use the prototypes in the subsequent phases of the digital euro project. The prototype tests are “expected to be completed in the first quarter of 2023 when the ECB will also publish its findings.”

7 Years Old 2500 Bitcoin On Move As Analyst Highlights Two Crucial Indicators of Imminent BTC Downtrend

Albert Brown
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7 Years Old 2500 Bitcoin On Move As Analyst Highlights Two Crucial Indicators of Imminent BTC Downtrend

 

CryptoQuant recently shared an analysis highlighting two metrics that could be harbingers of an imminent Bitcoin (BTC) fall.


Maartunn the crypto quant analyst, also highlighted that 2500 Bitcoin from a dormant wallet aged 5 to 7 years are on the move.

 

It’s no news that Bitcoin has persistently felt the effects of the prevailing bear market. The current cycle has sunk the asset to shocking lows, but a recent CryptoQuant analysis forecasts subsequent dips, citing two significant metrics. According to MAC.D, a CryptoQuant analyst, these metrics have already been observed.

The official CryptoQuant Twitter handle shared the analysis on Monday. 

 

The analysis closely examines the Bitcoin Spent Output Age Bands (7Y~10Y) chart. The chart indicates significant whale holder movements at different intervals. Each time a crucial whale movement occurred, a downtrend ensued. This pattern occurred six out of seven times.

MAC.D noted that a subsequent movement of over 5K BTC from the whale(s) which held BTC in its 7th year could influence a massive downward price action in the future. In total, as reported by The Crypto Basic, 15,000 bitcoin were moved in the first ten days of September. The Spent Output Age Bands signal a recent equivalent whale movement, indicating an impending downtrend, And today 2500 Bitcoin are on the move.

The second metric MAC.D highlighted related to Ethereum’s dominance in the broader crypto market. “When BTC is simply transverse, the excessive rise of Ethereum creates a bubble,” the analyst noted. 

As the chart indicates, historical data shows a sharp drop in Bitcoin’s price following an ETH market dominance above 20%. The scenario has played out five out of five times since 2018. Data suggests that Ethereum’s market dominance recently rose past 20%, indicating a likely fall recurrence.

Data from crypto market intelligence provider Messari indicates that Ethereum’s dominance soared above the 20%-mark on September 11 when ETH reached a high of $1,782 – one of its highest points in September so far. Notwithstanding, Ethereum’s market dominance currently sits at 17.81% at the time of reporting.

These two metrics have played out, according to MAC.D, suggesting an impending downward movement for BTC, according to MAC.D. He advised investors to prepare properly for the looming downtrend.

Bitcoin (BTC) is currently feeling the cold hands of the Crypto Winter, changing hands at $19,070 as of press time. The asset recently dipped to a 3-month low of $18,432 before climbing back above the $19k support. With a dip of 14.58% in the past week, Bitcoin’s recent price action does not particularly show auspicious indications.

Emurgo Aims to Increase Cardano Adoption in Africa With This New Partnership

Mark Brennan
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Emurgo Aims to Increase Cardano Adoption in Africa With This New Partnership

EMURGO Africa’s to Advance Cardano Web3 Adoption.



Adaverse accelerator, formed by EMURGO (parent company of the Cardano foundation) and Everest Ventures Group, a Hong Kong-based venture studio, has announced an investment in Diagon Studios, a Nigerian gaming technology company. The deal will see EMURGO support developing and distributing hyper-casual games, utility, and NFTs (non-fungible tokens) through simple play-to-earn (P2E) models.

This move is part of EMURGO’s more considerable effort to support and grow the African blockchain ecosystem by nurturing local talent and providing them with the resources they need to succeed. Adaverse was established last year to identify and back early-stage blockchain startups in Africa with high potential. So far, they have supported several projects in various industries, such as NFTs, DeFi, and gaming.

Diagon Studios was founded in 2019 by Jeremiah Onojah, a Nigerian engineer with experience in both the Web2 and Web3 spaces. The company is focused on deploying P2E hyper-casual games on the blockchain to help break barriers in the Web3 gaming industry.

With the support of EMURGO, Diagon Studios will develop and distribute its games to a broader audience and explore new use cases for the Cardano blockchain. In addition, EMURGO will provide mentorship and resources to help the company scale its operations.

Shogo Ishida, co-CEO at EMURGO Africa, said, “Focused on hyper-casual gaming that takes out complexity from the gameplay, Diagon Studios is one of the game publishers that stands on the cusp of opening the African space to the realities of play-to-earn, and we are glad to be offering the startup a launchpad and the opportunity to build on Cardano.”

This is a significant move for EMURGO as they continue to push for the adoption of Cardano in Africa. The continent has been identified as a key growth market for blockchain technology due to its large population and underdeveloped financial infrastructure.

With the support of EMURGO, Diagon Studios will be able to accelerate the adoption of Cardano in Africa and help bring blockchain-based gaming to the mainstream.

96 Million Terra Classic (LUNC) Burnt In One Transaction, Nearly 150 Million On The Weekend

Mark Brennan
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96 Million Terra Classic (LUNC) Burnt In One Transaction, Nearly 150 Million On The Weekend

 

Terra investors continue to burn LUNC tokens.


Terra Classic Luna investors have continued to support the project as they hope to make LUNC valuable again via a series of community efforts, including burns and staking.

To make this a reality, investors have increased the rate at which they are burning LUNC tokens, with tens of millions of LUNC burnt daily. 

Per data shared by LunaBurnTracker, an unofficial Twitter account that covers various Luna Classic burns, nearly 150 million LUNC tokens have been incinerated by investors in less than 72 hours.

According to LUNC Burn, on September 17, 2022, a total of 26,586,512 LUNC (26.5M) were sent to the Luna Burn wallet. 

In a similar development, 27,337,229 (27.3) LUNC tokens were burned on Sep 18, with the tokens worth around $7,914.

Interestingly, 96 million LUNC tokens worth $26,244 were sent to the LUNC burn address earlier today. 

LUNC Burn Initiatives

Burning a part of LUNC supply is part of efforts investors believe would bolster the value of the cryptocurrency again.

Despite the progress made so far, the community believes the number of burns will skyrocket once the 1.2% tax burn is implemented for all LUNC on-chain transactions. Some top cryptocurrency exchanges have already announced that they will support the proposal once it goes live on September 20, 2022.

Shiba Inu Lead Developer Says Shiba Eternity Will Burn SHIB, As Game Launching Globally

Lele Jima
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Shiba Inu Lead Developer Says Shiba Eternity Will Burn SHIB, As Game Launching Globally

 

Kusama has disclosed some exciting features about Shiba Eternity.



Following the launch of the Shiba Inu game Shiba Eternity in Australia, Shytoshi Kusama, the lead developer of the SHIB project, said the play-to-earn game will soon be rolled out globally. Once the game is launched worldwide, members of the SHIBArmy will have a feel of the game and provide feedback when necessary. 

It is unclear whether the game will launch as a beta version. However, Kusama hinted that the game would be launched globally to the general public. “Soon. Next up is the entire world. Let’s show these shadowcats [that] we are a force,” Kusama tweeted. 

Kusama Shares Exciting Details About Shiba Eternity

Meanwhile, Kusama has continued sharing interesting details about the game and what players are to expect when Shiba Eternity launches its global. 

Kusama said the game would also have a burn mechanism for the native cryptocurrency of Shiba Inu, SHIB, which will support numerous existing burn initiatives for the token. 

“SHIBARMY… there will be burns from the game period,” he said. 

He added that the team would share more details explaining why Shiba Eternity is great for different aspects of the Shiba Inu ecosystem, including Shibarium, Shiboshi, and the native cryptocurrency. 

“The real question is, where will you be on downloadday?” Kusama asked his followers. 

Shiba Eternity Development

It is noteworthy that no date has been chosen for the official release of Shiba Eternity. Shiba Inu developers are still making the game available for testing in selected regions. The game was unveiled in Vietnam last month and later introduced over the weekend in Australia.

Shiba Eternity has been widely adopted since public testing commenced, with over 3,000 downloads recorded in Vietnam alone. 

The team expects widespread adoption of Shiba Eternity when it launches globally and is already taking key steps to increase the game server capacity by more than 50x. 

Former US Congressional Candidate Shows Interest in Adding “More Bags Of XRP”

Albert Brown
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Former US Congressional Candidate Shows Interest in Adding “More Bags Of XRP”

 

David Gokhshtein Indicates Interest in Cupping More XRP As SEC Litigation Nears an End.



The founder of Gokhshtein Media, David Gokhshtein, is looking to amass more XRP tokens as Ripple’s legal battle with the SEC appears to be coming to an end.

The legal struggle between the U.S. Securities and Exchange Commission and Ripple Labs has affected the outlook of Ripple’s native token, XRP. After almost two years of a seemingly incessant battle, both parties have filed motions for Summary Judgment on the case.

Following these motions, David Gokhshtein, former US Congressional candidate and founder of blockchain media platform Gokhshtein Media, indicated his interest in purchasing more XRP tokens.

Gokhshtein revealed this on Twitter in the early hours of Monday. “I don’t know — I’m personally itching to maybe get a few more bags of XRP,” Gokhshtein told his 691k followers. The revelation sparked reactions amongst his audience, as noticed in the comment section. 

 

Some individuals were curious about why Gokhshtein’s sudden interest in XRP. In contrast, others maintained that his resolve is a wise move, as the asset has shown some massive potential despite the legal tussle with the U.S. financial regulator.

Gokhshtein has expressed his bullish sentiment on XRP on several occasions. Last week, before reports of the Summary Judgment motions became public, Gokhshtein asserted that XRP would see a price reversal should Ripple win the case against the SEC.

“Unpopular opinion for some maxis, but if Ripple wins its (sic) case against the SEC, not only do I personally believe XRP will take off but so will every legitimate platform as well,” Gokhshtein said in a tweet. 

 

The 40-year-old media personality made the same assertion in October of last year. The reiteration of his remarks underscores his firm conviction in the common avowal. Gokhshtein is also known for his persistent Shiba Inu advocacy.

Gokhshtein’s comments follow a common belief amongst most crypto proponents. The community has acknowledged the adverse effect of the neverending litigation on the price action of XRP. 

Consequently, many believe that a victory for Ripple will drive more interest in the asset and further contribute to a bullish price movement. The recent Summary Judgment motions likely solidify these beliefs, as Ripple presents a strong case before the court.

Recall that both Ripple Labs and the SEC filed motions for Summary Judgment on the current case, as previously reported by The Crypto Basic. James K. Filan, a Connecticut-based lawyer, specializing in securities cases, revealed the development on Twitter Sunday.

Ripple Labs is seeking judgment as a matter of law, as it proposes that the SEC does not have adequate evidence to support its claim that XRP is a security, despite having almost two years to prove XRP security. Ripple highlighted the fact that XRP does not have any ingredients of an investment contract, as stipulated in the Blue Sky Laws.

Ripple further stated that the Howey Test, which also considers these ingredients, does not classify XRP as an investment contract. The direction of the final ruling on the case remains to be seen, but the entire crypto community is confident that it will fall in Ripple’s favor.

Top Cryptocurrency Exchange Launches Staking for Shiba Inu And Ripple (XRP) With Up To 12% APY

Zabi
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Top Cryptocurrency Exchange Launches Staking for Shiba Inu And Ripple (XRP) With Up To 12% APY

Seychelles-based Global Cryptocurrency Exchange, OKX, Launches OKX Earn Staking Program for Shiba Inu (SHIB) and Ripple (XRP) with up to 12% APY.


Seychelles-based cryptocurrency exchange OKX added Shiba Inu (SHIB) and Ripple (XRP) to OKX Earn while introducing the Gold Rush Bonus promotion. The promotion enables SHIB holders to earn high staking rewards with up to 12% APY.

OKX, an innovative cryptocurrency exchange with advanced financial services, launches the first phase of its Gold Rush Bonus promotion for the two biggest canine-themed cryptocurrencies, Shiba Inu and Dogecoin (DOGE), along with Ripple (XRP), Litecoin (LTC), and Filecoin (FIL). The Bonus promotion goes live on September 16th, 2022, at 03:00 am UTC.

Through the newly-launched OKX Earn Gold Rush Bonus promotion, SHIB, DOGE, XRP, LTC, and FIL holders will be able to enjoy high rewards on staking their favorite cryptocurrency with up to 12% APY.

OKX Earn is the service offered by OKX that helps its users to earn passive income on their crypto portfolio. Founded in 2017, OKX is a one-stop cryptocurrency platform with over 20 million registered users from over 100 countries. A Seychelles-based cryptocurrency exchange allows its millions of users to trade more than 343 cryptocurrencies and 617 trading pairs on its platform. In addition, OKX also facilitates its users to convert over 30 local currencies into BTC, ETH, USDT, or other cryptocurrencies in minutes using their credit card or other payment methods.

CoinMarketCap, the world’s most-referenced price-tracking website for crypto assets, ranks it as the 18th biggest cryptocurrency exchange based on the daily trading volume with $2,155,258,761 ($2.15B) 24 hour volume.

Cardano Founder Slam Critics Who Still Doubt Vasil Timely Launch, Says “Vasil Rocket Is In The Air”

Lele Jima
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Cardano Founder Slam Critics Who Still Doubt Vasil Timely Launch, Says “Vasil Rocket Is In The Air”

 

Cardano Founder has once again responded to critics who still have doubts about Vasil.


Despite the significant progress made by the Cardano development team toward the launch of the Vasil hard fork, critics are still throwing shade at Cardano executives and the entire project. 

Charles Hoskinson, the founder of Cardano, took to Twitter to reply to a YouTube troll who suggested Vasil would not ship by September 22, 2022. 

Throughout the comment, the troll continued to misspell Vasil as “vaseline’ while calling Hoskinson a great actor who has continued to lie to investors. 

Responding to the troll, Hoskinson said: 

Vasil upgrade is still on track to launch on September 22, 2022.

Meanwhile, Hoskinson also shared an important update about Vasil to further confirm that the hard fork will launch on the mainnet at the expected date. 

Hoskinson said Vasil’s “rocket is in the air” after the Hard Fork Combinator (HFC) was submitted and accepted over the weekend. He further reiterated that Vasil mainnet launch would happen on September 22, 2022. 

“Rocket is in the air. HFC request submitted and accepted. Vasil upgrade is underway. See you on September 22nd, 2022,” Hoskinson tweeted. 

IOG Backs Hoskinson’s Claims

In a similar development, Input Output Global (IOG), the team responsible for the development and research of Cardano, also corroborated Hoskinson’s assertion. 

In a recent tweet, IOG noted that it collaborated with Cardano Foundation to submit an updated proposal for Vasil on the mainnet, preparing Vasil for its mainnet deployment on September 22, 2022. 

“Vasil Update: This weekend, a joint @CardanoStiftung & IOG team successfully submitted an update proposal to the chain, setting the Vasil upgrade in motion for 22nd September,” IOG said. 

Input Output Global took out time to appreciate the technical support team, including Stake Pool Operators (SPOs), for their support toward the development of Vasil in the past few months. 

The long-awaited Vasil upgrade is considered the most significant Cardano hard fork since the inception of the network. 

Vasil’s Development and Progress 

Vasil was originally scheduled to launch by June end. However, the team behind the development postponed the Vasil launch to a later date due to some bugs found in a node. 

Since then, the team has worked relentlessly to fix the issue and have Vasil ship in earnest. Earlier this month, Hoskinson disclosed that Vasil would be deployed on September 22, 2022. 

The upgrade is tipped to roll out important features, including improved smart contract functionality, faster transaction times, and cheaper transactions. 

According to IOG, the new features Vasil is expected to introduce, such as node and CLI support for reference inputs, inline datums, reference scripts, and collateral outputs, will be made available on the Cardano mainnet on September 27, 2022. 

 

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