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Shiba Inu (SHIB) Tops Coinmarketcap Trending Coins, Becomes Coin Of The Day On Lunar Crush

Mark Brennan
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Shiba Inu (SHIB) Tops Coinmarketcap Trending Coins, Becomes Coin Of The Day On Lunar Crush

 

Shiba Inu (SHIB) Becomes Trending No. 1 Cryptocurrency on CoinMarketCap (CMC) and Recognized as “Coin Of The Day” By LunarCrush.



Shiba Inu is recognized as “Coin of the Day” by Lunar Crush and has become the top Trending cryptocurrency on CoinMarketCap (CMC) as traders have exchanged hands with over $1.55 billion worth of Shiba Inu in the past 24 hours.

Shiba Inu is showing remarkable performance since the start of the week. CoinMarketCap data reports that the value of Shiba Inu has surged 30.34% in the past seven days. The most popular canine-themed cryptocurrency traded with a whopping volume of $2,327,359,499 ($2.32B) yesterday, whereas, in the past 24 hours, the trading volume for Shiba Inu stands at $1,546,923,356 ($1.54B).

Shiba Inu Trending on CoinMarketCap:

Shiba Inu begins to trend on the world’s most-referenced price-tracking website for crypto assets, CoinMarketCap.

CoinMarketCap data reports that Shiba Inu is the top trending coin in the past 24 hours, followed by Binance Coin (BNB) and Flux (FLUX).

Shiba Inu Recognized as “Coin of the Day” By LunarCrush:

On the other hand, Shiba Inu is recognized as “Coin of the Day” by Lunar Crush, the trending social and market insights provider by taking various metrics into consideration like Social volume, Market volume, and Price performance.

At press time, Shiba Inu is trading at the price of $0.00001589, showing almost no change over the last day, with a market cap of $8,724,677,362 ($8.72B).

Wells Fargo Mentioned Ripple (XRP) As A Digital Currency In August Report

Mark Brennan
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Wells Fargo Mentioned Ripple (XRP) As A Digital Currency In August Report

 

The top American financial institution refers to Ripple as a digital currency.



In its recent report, Wells Fargo, an American multinational financial services company, referenced Ripple (XRP) as a digital currency. 

According to Wells Fargo’s 2022 financial report dubbed Digital Assets – A World of Possibility, the company described XRP as a digital currency, suggesting that the crypto asset is a suitable means of payment. 

Wells Fargo Mentioned Ripple (XRP) As A Digital Currency
image source: https://www.wellsfargoadvisors.com/research-analysis/reports/cryptocurrency/digital-assets.htm

Wells Fargo Unbothered About Ripple vs. SEC Lawsuit

What is more surprising about the development is that Wells Fargo is an American financial company aware of the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC). 

Both Ripple and the SEC have embarked on a legal battle that has lingered for more than a year. While the SEC claims that Ripple’s 2013 Initial Coin Offering (ICO) breached United States securities laws, the blockchain company has maintained that XRP is not a security. 

However, the lawsuit has wreaked havoc on the value of XRP, as many U.S.-based companies have distanced themselves from Ripple. 

 

Cryptocurrency exchanges, including Coinbase and Binance.US, delisted XRP from their respective platforms due to fear that the SEC might come after them. 

In April, TheCryptoBasic reported that U.S. global markets company CME Group excluded Ripple from its crypto real-time metrics and reference rates. The tool is imperative to fostering widespread institutional adoption of selected cryptocurrencies. Unfortunately, XRP was not included in the list of 11 crypto assets added to the CME CF reference rate. 

While many U.S.-based companies are avoiding referencing XRP, Wells Fargo does not seem bothered, classifying XRP as a digital currency that fosters payment. 

Widespread Adoption of Ripple in Cross-Border Settlement

Wells Fargo’s classification of XRP as a digital currency is not surprising given the widespread adoption of the crypto asset in payment. 

Ripple payment solution RippleNet has been widely adopted by top payment companies for cross-border settlements. The solution utilizes XRP to facilitate payments across borders. Thus, making XRP a suitable digital currency. 

Three Suspects Arrested In Israel With Multi-Million Crypto Laundering Scheme Targeting French Treasury

Mark Brennan
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Three Suspects Arrested In Israel With Multi-Million Crypto Laundering Scheme Targeting French Treasury

 

Three Suspects were Arrested In Israel with a multi-million crypto laundering scheme to trick the French treasury.



Israeli authorities have taken into custody three people suspected of orchestrating a fraud scheme targeting the French treasury.

Three people have been arrested in Israel for being part of a criminal outfit that carried out illegal activities like tax offenses and money laundering.

The French treasury was targeted in a money laundering scheme involving millions of Shekels. Israeli police said the money launderers operated by stealing, converting fiat into cryptos, and transferring across borders.

Fraud Carried Out In Israel

Apparently, the fraudsters operated from Israel how the police did not describe the suspects’ identities. A statement released by the Israeli Tax Authority read,

“originated from crimes committed abroad, while using digital currencies on various platforms in order to obscure and disguise the identity of the owners and the movement of the money.”

Police in Israel has been investigating several people suspected of being linked to the fraud for months before they finally took them into custody. In a statement released on Monday, the police said,

“The investigation focused on suspicion of large-scale fraud against the state treasury in France that was carried out from Israel, and the theft of millions of euros and the laundering of the funds by converting it into cryptocurrency.”

The investigation was carried out in cooperation with Europol, the Israeli police, the Israeli cybercrime unit, and the French police.

 

Is The Crypto Industry A Safe Haven For Fraudsters?

The fraud at the French treasury revives strong emotions in some government circles as to whether the crypto market is a thriving ground for thieves and scammers. Also, it’s not the first time scammers have used cryptos to mask their activities to make themselves less likely to be traced.

While these scam-related issues may be a hot topic both in the short and long-term, there are still those who feel that the industry could be advanced into a much safer environment with better regulations.

Nearly 300 Million Ripple (XRP) Transferred Between Exchanges and Unknown Wallets

Mark Brennan
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Nearly 300 Million Ripple (XRP) Transferred Between Exchanges and Unknown Wallets

More XRP coins flowed between exchanges and unknown wallets.



It has become a routine to see large amounts of Ripple (XRP) movements transferred from unknown wallets to cryptocurrency exchanges. 

Leading cryptocurrency whale tracking service, Whale Alert, has been keeping tabs on these large XRP movements and sharing these transaction details whenever they occur. 

Over the last 24 hours, Whale Alert reported that a total of 298,921,991 (298.9 million) XRP coins were transferred between unknown wallets and crypto exchanges like Bitstamp, FTX and Bitso. 

The XRP coins were moved in six different transactions, where Bitstamp was involved in four of these transactions. The tokens transferred are worth $110.6 million at the time of writing. 

As reported by Whale Alert, 37 million XRP coins worth $13.73 million at the time of the transaction were transferred from an unknown wallet to the Bitstamp exchange. 

A few hours later, Whale Alert also saw the movement of 35 million XRP from another unknown wallet to an account on the Bitstamp exchange. According to the whale crypto tracking service, the assets were worth $13.06 million at the time of the transaction. 

In a similar development, Whale Alert saw the movement of 45 million XRP coins (appr. $17 million) from an unknown wallet to Bitstamp. 

 

Per Whale Alert, a total of 36,921,991 (36.92 million) XRP worth around $13.9 million were sent from Bitstamp to an unknown wallet. 

Per Whale Alert, the largest transaction was 100 million XRP, the coins were sent from the FTX cryptocurrency exchange to an unknown wallet. The funds were worth $37.47 million.

Bitso exchange was not left out in this latest round of large XRP movements, as an address on the exchange saw an inflow of 45 million XRP worth around $16.9 million.

Large XRP Movements Recorded This Month

Since the beginning of this month, over 2 billion XRP coins have been shuffled between popular cryptocurrency exchanges and unknown wallets. 

Sometimes, Ripple is involved in some of these large XRP movements. 

Cardano IOG to Introduce New Fiat Payment Option Alongside Minting App for a New NFT Ecosystem

Mark Brennan
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Cardano IOG to Introduce New Fiat Payment Option Alongside Minting App for a New NFT Ecosystem

 

Blockchain Technology Provider NMKR Partners With Input Output Global to Promote NFT Adoption.


Input-output media also shared the news:

 

Leading blockchain technology provider NMKR has signed a partnership with Input Output Global (IOG), the company behind the creation of the Cardano blockchain, to accelerate the adoption of non-fungible tokens (NFTs). 

According to the official announcement, the collaboration will allow NMKR to launch an innovation, particularly a minting API for the NFT community seeking to make it easy for anyone to engage with digital artworks. 

Actor and comedian Martin Lawrence has used the minting API to build and launch his first NFT collection on the Cardano blockchain.

“We are excited to be officially collaborating with Input Output Global. We believe their experience in building and deploying new blockchain capabilities will be invaluable in helping us achieve our goal of driving widespread adoption of NFT technology in Cardano,” says Patrick Tobler, the CEO of NMKR.

 

NMKR Introduces New Payment Technology

Per the announcement, NMKR will provide technology on the Cardano blockchain, minting services, white label NFT drops, and allow the migration and integration of NFTs and related services between the Cardano protocol and other blockchains. 

Under the partnership, the blockchain innovation provider will release a newly developed FIAT payment option that allows users to make payments with cryptocurrencies and fiat. 

The payment innovation aims to accelerate the adoption of the NFT ecosystem by offering users across the globe an opportunity to participate in NFT sales with zero crypto knowledge. 

Speaking on the latest development, Charles Hoskinson, the co-founder of Cardano, noted that the partnership aligns with its mission to build a better future by providing technology. 

“This is an important step for IOG, and our mission is to build a better tomorrow for everyone through technology. We are excited to be working with NMKR as they develop an entire minting and payment infrastructure ecosystem, making NFTs accessible for everyone,” he said.

Shiba Inu Game Developers Increase Server Capacity By 50x As Players Rush To Test Shiba Eternity

Mark Brennan
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Shiba Inu Game Developers Increase Server Capacity By 50x As Players Rush To Test Shiba Eternity

 

Shiba Eternity is off to a great start in Vietnam.


Shiba Inu’s premier card collection game, Shiba Eternity, is starting in Vietnam. The head of the Shiba Inu gaming team and former Activision Vice President William Volk reveals that developers expanded server capacity 50 times to accommodate all the players.

“Wow, we had to increase the gameplay server capacity FIFTY-FOLD to deal with the players coming in from the Vietnam test launch!” Volk wrote in a tweet on Monday. 

On Thursday, The Crypto Basic reported that Shiba Inu was rolling out its card collection game for beta testing for iOS users in Vietnam. Notably, lead Shiba Inu developer Shytoshi Kusama, with a shout-out to Indonesia in the announcement, has fueled speculation that the game will roll out in the Southeast Asian country next.

Judging by Volk’s statements, the reception is pretty impressive and indicative of the excitement around the game, as so far, only iOS users are participating in the test. Notably, Volk agrees that things will get even more exciting once the Beta Launch goes live for Android users.

 

The Shiba Eternity game has caused a lot of buzz in the Shiba Inu community, with lead developer Kusama gushing with excitement. The team has been working on the game for over nine months now in partnership with game developers PlaySide Studios.

Notably, the network’s native token, Shiba Inu (SHIB), posted impressive gains over the weekend. The asset price surged by over 30% as whale activity spiked to April highs. It will be unsurprising to see more volatile price action as the community expects to see the launch of several projects alongside the game in Q3 2022.

Shiba Inu is currently the 12th largest cryptocurrency by market cap, trading at the $0.0000162 price point, up 3.56% in the last 24 hours and 28.65% in the last seven days.

Cardano Founder Charles Hoskinson Dismayed Over a16z’s $350 Million Investment in “Flow”

Mark Brennan
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Cardano Founder Charles Hoskinson Dismayed Over a16z’s $350 Million Investment in “Flow”

 

Hoskinson expressed disappointment over a16z’s investment in Flow. 



Charles Hoskinson, the founder of Cardano, has reacted to Andreessen Horowitz’s (a16z) investment in Adam Neumann’s new residential real estate company, Flow. 

In a recent tweet, Hoskinson reacted to the news of the investment by tweeting a facepalm gif, which has the caption: “All the FacePalms… All of Them.”  

Although Hoskinson did not say a word, the gif suggested that he was remorseful and frustrated by the development, according to the Merriam-Webster dictionary. Facepalm is used to show you are disappointed, embarrassed, and annoyed.

Neumann’s Controversial Past

Hoskinson’s reaction to the development is understandable, given that Neumann has been linked with controversy in the past. 

Neumann had attempted to take WeWork public but failed. His shot at an IPO ended in disaster to the extent that heavyweight investors from Wall Street had to pay him approximately $1 billion to leave the company. 

More so, while Neumann was heading WeWork’s operation, the company’s valuation dipped to $8 billion from $47 billion. These and other developments earned Neumann a reputation for mismanagement and poor treatment of employees. 

However, despite Neumann’s past, a16z still wrote its largest individual check to his upcoming company Flow to the tune of $350 million. 

“We understand how difficult it is to build something like this, and we love seeing repeat-founders build on past successes by growing from lessons learned,” a16z said in a statement about the investment. 

 

A16z Neglecting Cardano

Andreessen Horowitz’s investment in Flow marks the second investment it will be making in Neumann’s affiliated company. 

In May 2022, a16z invested $70 million in a company co-founded by Neumann dubbed FlowCarbon, a blockchain-based carbon credit platform. 

Meanwhile, Hoskinson could be dispirited about Andreessen’s investment because of venture capitalists’ continuous lack of support for the Cardano project. A16z is one of the companies that has invested heavily in the crypto sector. The company set aside a whopping $2 billion for crypto projects. 

Despite its focus on cryptos, a16z has still not considered investing in Cardano. “I’m always wondering why VCs and crypto media love certain alts and hate Cardano. Just can’t figure it out,” Hoskinson said in May.

Cardano Positive Sentiment At Record Highs Along With Profit Taking

Mark Brennan
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Cardano Positive Sentiment At Record Highs Along With Profit Taking

 

Cardano sees a fresh wave of positive sentiment as ADA sees double-digit gains in the last three weeks.



Sentiment Feed, in a tweet on Tuesday, reveals that the Cardano network is seeing a fresh wave of positive sentiment as ADA, the native token, posted 22% gains over the last three weeks. Notably, the positive sentiment is at its highest since April, while profit taking is at its highest since March.

“Cardano sentiment is rather positive at the moment, and prices are +22% in the past three weeks. The ratio of on-chain transactions as profit taking vs. selling at a loss is at its highest level of profit taking since the final week of March,” Santiment tweeted.

It is worth noting that the Cardano community is very excited at the moment as the long-anticipated Vasil hard fork edges closer. Input Output Global (IOG) founder Charles Hoskinson, the head of the company behind the network at the beginning of the month, noted that developers are currently in the final stages of testing. Notably, on Friday, developers decided on the last node version to use for the long-awaited upgrade.

Meanwhile, since the latest delay in July, developers have yet to give a fixed or tentative date for the upgrade. However, as reported by The Crypto Basic on Saturday, IOG, when asked about a possible upgrade date, replied that the priority for the team is getting things right.

Notably, the Cardano network has built a reputation for taking things slowly over the years. While it has earned them some critics, it has also ensured they have had the last laugh.

The Vasil hard fork, named after Vasil Dabov, a respected mathematician and long-standing member of the Cardano community who passed on in December, promises to usher in a wave of dApps and improved smart contract functionality. ADA is trading at the $0.5537 price point, down 0.97% in the last 24 hours but up 3.92% in the previous seven days.

The Awaited BabyDoge Swap Testnet Is Finally Live On Binance Smart Chain

Mark Brennan
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The Awaited BabyDoge Swap Testnet Is Finally Live On Binance Smart Chain

 

BabyDoge developer team has finally announced that the meme coin’s testnet has gone live on BSC.


For some time, the crypto community has been waiting for the release of the BabyDoge swap facility that has the potential to change the market outlook associated with the coin. BabyDoge became a copycat of the favored Dogecoin (DOGE), a meme coin that has gained traction as the father of the meme world over the last few years.

A short while back, the BabyDoge developer team promised the community that it would be launching a testnet on BSC. Now, the time has come for the launch, and it has already happened. The team posted the good news via its official Twitter handle. The announcement also included a directive on how to mint free BabyDoge coins.

 

What The Testnet Brings

The BabyDoge testnet on BSC introduces a few important facilitations that will improve the coin’s ecosystem. These include DeFi functionality, staking, and more decentralization. The swap protocol will also introduce feeless transactions. At press time, the meme coin is trading at around $0.0000000016 and sitting at position 231 on the charts.

Babydoge Farming is also live:

https://twitter.com/BabyDogeCoin/status/1559494940211789827

 

 

 

BabyDoge Fanbase Is Expanding

Earlier, the developer team announced that the number of BabyDoge holders had already started increasing. At the time, there were around 1,603,575 BabyDoge holders. The number is expected to continue rising as the meme coin gains popularity within crypto circles. More interestingly, BabyDoge leads Dogecoin and Shiba Inu Inu in terms of holders.

Even more interesting is the ongoing effort to boost the coin’s price. This is happening by way of burning the coins. Burning crypto coins means sending them to an address where they can’t be retrieved. Burning decreases the number of particular coins in circulation, thereby increasing demand that ultimately translates into upward price action. On The first birthday, the baby dog team burnt 50 QUADRILLION Coins Worth $88 Million in one transaction. Their team is always looking to boost the burn numbers.

As Reported By The Crypto Basic, Users Can Now Buy Baby DogeCoin With 20 Fiat Currencies, Including USD, EUR, GBP

Shiba Inu Lead Developer Says “Can You Pet The Dog” Will Learn Like Others That SHIB Is Not A Meme

Mark Brennan
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Shiba Inu Lead Developer Says “Can You Pet The Dog” Will Learn Like Others That SHIB Is Not A Meme

 

The Shiba Inu exec subtly responded to Can You Pet the Dog’s derogatory comments.



Shytoshi Kusama, the lead developer of the Shiba Inu project, has responded to the derogatory comments made last week by “Can You Pet the Dog”. 

According to Kusama, the comment made by Can You Pet the Dog shows how “ill-informed” the popular game is about cryptocurrencies. 

He said Shiba Eternity was only released for Apple app store users, adding that the game is not the upcoming card collectible game (CCG) that the community has been anticipating.  

The lead developer of Shiba Inu assured the team behind Can You Pet the Dog that they would learn like other crypto projects that underestimated Shiba Inu in the past. 

Kusama reiterated that Shiba Inu is no longer a meme and will continue to release interesting projects that will help it shred the meme title. 

“… and like others who underestimated us, you too will learn that we are not a meme.”

Can You Pet the Dog Blasts Shiba Inu

Recall that Kusama tagged Can You Pet the Dog last week, a Twitter account created by Tristan Cooper. 

In the tweet, Kusama suggested that Shiba Eternity would be similar to the theme of Can You Pet the Dog, a catalog game that allows players to pet dogs. 

 

However, in the upcoming Shiba Eternity, Kusama noted that players would pet their Shiboshis, Shiba Inu non-fungible tokens (NFT). 

Apparently, the official Twitter account of Can You Pet the Dog blasted Shiba Inu for the tag, saying it does not want to be affiliated with any crypto project. Can You Pet the Dog added that despite the fact Shiba Inu’s game has a dog theme, it still does not want to be affiliated with the project. 

“Peddle your planet-burning scam somewhere else,” it added. 

Meanwhile, Can You Pet the Dog’s disassociation from Shiba Inu will not wreak much havoc on the canine-themed project. 

The only issue is that many followers of the Can You Pet the Dog Twitter account may also want to disassociate themselves from Shiba Eternity. 

However, the Shiba Inu community has continued to grow from strength to strength, suggesting that SHIB’s new projects will have a good audience when they go live. 

As reported by TheCryptoBasic, Shiba Inu surpassed Dogecoin to become the world’s most-followed canine-themed cryptocurrency project. 

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