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Over Half a Billion Shiba Inu Burnt This Week So Far

Zabi
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Over Half a Billion Shiba Inu Burnt This Week So Far

 

550.35 Million SHIB Destroyed in the Past 6 Days.



Over Half a Billion Shiba Inu (SHIB) have been burned by the Community using SHIB Burn Portal in the past six days. 120 Bone ShibaSwap (BONE) has also been incinerated.

Data from the tracking platform Shibburn shows that Shiba Inu Community has sent a whopping total of 550,351,774 (550.35M) tokens of the canine-themed cryptocurrency Shiba Inu (SHIB) to the dead wallet through 111 separate transactions in the past six days.

On Monday, 1st August, 216M Shib were burned, 170.6M on Tuesday, 58.2M on Wednesday, 38.4M on Thursday, 27.6M on Friday, and 38.9M Shiba Inu burnt today on Saturday.

Among prominent SHIB Burners, 1Cent Token organized its Weekly Burn Event on August 1st, 2022. The project made a total of two transactions to burn SHIB and BONE. In the first transaction, the 1Cent sent a total of 82,681,787 (82.68M) SHIB to the dead wallet. At the same time, the project carried out the second noticeable transaction and destroyed a total of 120 Bone.

Top 7 Publicly-Traded Metaverse Companies You Could Invest In Today

Andrew MacGill
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Top 7 Publicly-Traded Metaverse Companies You Could Invest In Today

The metaverse has captured the attention of investors and enthusiasts globally. Read on to find out what’s going on beyond the hype, about companies that are investing in the metaverse, and why they are investing in the metaverse.

What is the Metaverse?

A metaverse is a virtual space that combines augmented reality, virtual reality, blockchain, and other cutting-edge technologies that could replace the internet as we know it. It holds the potential to provide numerous opportunities for people to take part in a new digital economy. 

Many companies have identified these opportunities and are taking a step to invest in the metaverse.

Why Are Companies Investing in the Metaverse?

Investing is a matter of asserting value in a company.

Within the digital economy of the metaverse, there are and will be new ways to make money or revenue as per different industries. In this way, companies are actively looking at opportunities to build the metaverse and earn from products and services that can be used in the virtual world. 

For instance, Meta, which is Facebook’s new name, produces virtual reality (VR) glasses that people use to access virtual spaces and is developing its own metaverse. 

However, as an individual investor, you need to explore your options before investing in the metaverse, because it’s still new. It would be a wise move to do some due diligence through research if you’re considering investing in the metaverse.

Who’s Investing in the Metaverse? 

There are numerous publicly traded companies currently investing in the metaverse. Since they are publicly traded, you could buy stocks in the companies to add metaverse exposure to your stock portfolio. 

Microsoft

Microsoft recently announced a $70 billion acquisition deal of Activision Blizzard, a gaming company that would give it access to bestseller games like Call of Duty. Additionally, it has pitched HoloLens, its product business in the metaverse, to develop a strategic hold in its gaming business. HoloLens is a mixed-reality smartglasses that will have different applications in industries like education, manufacturing, engineering, and health. 

Unity

Unity Software powers about 50% of PC and console games, which places it among the best companies to invest in this space. Undeniably, they don’t need to build an alternate metaverse, since they have what it takes to power up the existing one! Since Unity acquired Weta Digital for $1.5 billion, they plan on building upon their real-time 3D technology to offer realistic experiences in the metaverse.

Roblox

Roblox has made it possible for its community of 40+ million daily active users to create their own unique events concurrently and for other users to play the games. For instance, you can have a musical concert and checkers game happening at the same time in the game, with users being able to choose what to do. The company focuses on social interactions that happen in virtual spaces, which is one of the promises of the metaverse. 

Autodesk

As a software provider for people to create advanced design tools, Autodesk is another key player in the metaverse. The already profitable company is set to be a virtual playground for engineers who may want to simulate virtual editions of buildings before physical ones. This is also known as creating digital twins, which can be beneficial for designing factories and skyscrapers.

Matterport

Matterport creates 3D representations of real estate spaces. This allows clients to host virtual tours and interactive property showings to potential buyers. Significantly, this can save home buyers time in scouting for new homes through the metaverse. Although Matterport is yet to monetize its business model successfully, its long-term prospect is promising to investors.

CrowdStrike

Cybersecurity is crucial in a world where a great deal of our personal information is online.CrowdStrike has invested in cybersecurity, providing data safety for its clients. The company is one of the fastest growing cloud solutions for cybersecurity, and this will only get better with the metaverse’s growth.  

Nvidia

Last but not least, for this set of mentions, we have Nvidia. A leading graphics and video games processing chip producer, Nvidia is strategically at the center of powering the metaverse. Not one to be left behind, the company is developing an Omniverse tool to support developers building their applications in the metaverse.

Investing in the metaverse is an exciting venture, as investors want to be in on the potentially next big thing. Beyond the hype, see into the value proposed by this virtual world to find answers on whether you should direct real funds here.

Frequently Asked Questions (FAQs)

Can you make money from the metaverse?

Yes, you can make money from the metaverse as an investor in the companies building the metaverse. You can also buy metaverse cryptocurrencies or non-fungible tokens (NFTs), such as virtual land, in leading metaverses. 

Is the metaverse a good investment?

As with other investments, you need to take time and due diligence before you invest in the metaverse, not simply chasing the surrounding hype. Manage your risk and expectations, and you’ll be all set! 

Is it risky to invest in the metaverse?

Yes. Being a relatively new venture, the metaverse is still taking shape. The uncertainty could present great opportunities for investment, so take your time to analyze and develop your own investment strategy should you choose to invest in the metaverse. 

This guest contribution was provided by Roselyne Wanjiru, one of Kenya’s leading blockchain consultants, a crypto economist, and a senior writer at Rise Up Media.

Vitalik Buterin Says He Doesn’t Expect Ethereum to be Harmed By Another Fork

Lele Jima
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Vitalik Buterin Says He Doesn’t Expect Ethereum to be Harmed By Another Fork

 

The Ethereum co-creator is confident the network will grow stronger even if there is a split (Hard Fork).  



Vitalik Buterin, the co-founder of Ethereum, responds to reports about a possible network split after its transition from a Proof-of-Work (PoW) model to a Proof-of-Stake (PoS) algorithm. 

Buterin said during a Saturday webinar that Ethereum’s growth would not be heavily affected if a hard fork occurred. 

“I don’t expect Ethereum to really be significantly harmed by another fork,” he said. 

Buterin: Everyone Is Supportive of ETH 2.0

Buterin is confident that the network will continue to grow to greater heights following the positive feedback he has received from members of the project’s ecosystem. 

“In general, my impression from pretty much everyone I talk to in the Ethereum ecosystem is they have been completely supportive of the proof-of-stake effort, and the ecosystem has been quite united around it,” Buterin said. 

Miners Think Otherwise

On the contrary, not everyone seems to agree with Buterin. Miners are not prepared to lose their source of revenue following Ethereum’s transition from PoW to PoS. 

As reported by TheCryptoBasic, a major Ethereum miner, said he will not switch to ETH 2.0, adding that the network will be forked. 

Furthermore, Vitalik encouraged miners willing to remain on PoW to switch to Ethereum Classic (ETC).

“If Jim Cramer Recommends Next Amazon Stock, I’ll Never Buy!” Users Drag CNBC Host Over His Coinbase Call 

Albert Brown
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“If Jim Cramer Recommends Next Amazon Stock, I’ll Never Buy!” Users Drag CNBC Host Over His Coinbase Call 

 

Crypto investors on Twitter are lambasting the CNBC host over his Coinbase call.


Following a spike in Coinbase’s stock (COIN) a week after Jim Cramer suggested that the San Francisco exchange could be probed, the popular CNBC host is being lambasted across various social media platforms. 

Recall that on July 26, 2022, Jim Cramer hinted that the San Francisco-based exchange could be probed by the SEC for offering crypto assets deemed as securities by the agency. 

“The Coinbase roll over on a possible SEC investigation is very bad news given that we don’t even know what it’s about. But they were always hoping to avoid SEC scrutiny,” Cramer tweeted. 

Coinbase Stock Soars 50% A Week Later

Interestingly, a week after Cramer made the tweet, the price of Coinbase stock soared more than 50%, thanks to the exchange’s partnership with the largest digital asset manager Blackrock. 

As reported by TheCryptoBasic, Coinbase partnered with Blackrock to offer cryptocurrencies to the asset manager’s institutional clients. Following the partnership, COIN soared 50% to $106 in the last five days. 

Instead of Cramer’s tweet affecting Coinbase’s stock value, COIN has been growing massively, thus prompting reactions from members of the crypto community. 

Twitter Users Blast Cramer

CNBC’s rival, the New York Post, shared some of the criticisms aimed at Cramer. 

Genevieve Roch-Decter, accountant and financial news analyst, said in a tweet: 

“I don’t care if a company is the next Amazon. If Jim Cramer is recommending the stock I will never buy.” 

In a similar development, Tony Edward, a popular cryptocurrency podcaster, also slammed Crammer, saying: “Never take financial advice from Jim Cramer!”

Another Twitter user, who goes by the username @nekitav1 said: 

“We have already known for years that he is always a bottom and top signal. Just need to do the opposite of what he preaches.” 

Coinbase has been in the news lately for both positive and negative reasons. Before the company announced its partnership with Blackrock, a former employee of the company was arrested and charged with conducting insider trading. 

 

ApeCoin Can Now Be Accepted As Payment Method By Thousands Of Retailers

Mark Brennan
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ApeCoin Can Now Be Accepted As Payment Method By Thousands Of Retailers

 

BitPay adds support for ApeCoin.


Blockchain payments firm BitPay, in a tweet on Friday, disclosed that it has now added support for ApeCoin as it continues to grow its crypto offerings.

“BitPay now supports ApeCoin (APE) and Euro Coin (EUROC)! App users can buy, store, swap and spend in the BitPay Wallet, plus load and spend instantly like cash via the BitPay Card,” BitPay tweeted.

ApeCoin joins only 13 other cryptocurrencies to be supported by the platform. BitPay-supported cryptocurrencies now include; Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Dogecoin, Litecoin, Shiba Inu, ApeCoin, Euro Coin, and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).

Notably, with the new support, ApeCoin holders can now use their tokens to make payments at several retail outlets. For example, before BitPay’s official announcement, luxury fashion house Gucci on Wednesday revealed that it is now accepting payments in ApeCoin via BitPay. Consequently, ApeCoin can now be used for payments at select Gucci Stores in the US.

It is worth noting that Yuga Labs launched ApeCoin in March this year to be used for transactions on the Yuga Labs ecosystem, which currently comprises the Bored Ape Yacht Club (BAYC), the Mutant Ape Yacht Club (MAYC), the Bored Ape Kennel Club (BAKC), CryptoPunks, MEEBITS, and the Otherside metaverse.

At launch, the token was the center of a lot of market speculation, attracting the attention of several Ethereum whales and getting payment support from TIME magazine and OpenSea. However, the buzz surrounding the token appears to have waned as the crypto market downturn kicked into high gear following the Terra ecosystem debacle in May.

It is worth noting that BitPay support can usher in a new wave of adoption and increase user activity as they start to use the token to make payments to their favorite merchants.

Notably, BitPay is pushing the frontiers in terms of blockchain payments. Most recently, the firm announced that lovers of Hublot watches can now use crypto to pay for their products in its latest partnership.

Users Can Now Convert Ripple (XRP) to Mexican Pesos For Cross-Border Settlements

Albert Brown
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Users Can Now Convert Ripple (XRP) to Mexican Pesos For Cross-Border Settlements

 

Everest Partners Bitso to Facilitate Cross-Border Settlement from Ripple (XRP) to Mexican Pesos.


 

The partners leverage XRP to allow Mexicans to receive funds in local fiat.

Leading cryptocurrency exchange Bitso has partnered with Everest, a crypto custodian offering Ripple (XRP) and stablecoins.  

The partnership will enable Everest users based in Mexico to receive funds from their loved ones who reside in the United States, Singapore, and Europe. 

Details of the Partnership

Bob Reid, the CEO of Everest, shed more light on the initiative, saying users can add funds to the payment app directly from their bank accounts.  

The funds will first be converted to Credit tokens (CRDT). Afterward, users can also convert the CRDT to cryptocurrencies like XRP, Bitcoin (BTC), and stablecoins, which can be sent directly from the U.S., Singapore, and Europe into Mexico. 

The crypto assets can be converted into Mexican Pesos and the fiat withdrawn to any local bank account in Mexico, the partners said in a statement. 

Santiago Alvarado, Bitso’s Senior VP of Product, said the company’s partnership with Everest would foster its commitment to making cryptocurrency useful in cross-border payments. 

He added: “Everest customers in different countries that want to send money to Mexico will be able to do so instantly and in a cost-effective manner, leveraging Bitso’s infrastructure and Blockchain technology.” 

According to a World Bank study, the Mexico-US corridor is ranked as the second-largest cross-border corridor. In 2021 alone, cross-border remittance exceeded $54 billion, thus making international settlements an important aspect of Mexico’s economy. 

However, conducting cross-border settlements using fiats is expensive compared to cryptos. Notably, users are required to pay up to 12% of any amount they intend to send abroad. Interestingly, the announcement adds that users will pay as little as 3% in fees with cryptocurrencies. 

Everest clients are provided with instant banking rails for U.S. dollars, Singapore Dollars, Euros, XRP, and stablecoins. The company’s partnership with Bitso will enable clients to receive cross-border settlements in Mexican Pesos. 

“As we continue to expand our offerings to best serve users throughout our 40+ countries of operation, enabling rapid transfers of cryptocurrencies to Mexican Pesos was a natural next step,” Reid added. 

Changpeng Zhao (CZ) Distances Binance From WazirX Amid Money Laundering Accusations

Mark Brennan
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Changpeng Zhao (CZ) Distances Binance From WazirX Amid Money Laundering Accusations

 

Binance CEO Comes Out To Clarify That His Exchange Never Acquired WazirX As Incorrectly Reported By Some Media.



Contrary to some media reports, Binance’s CEO claims his exchange hasn’t acquired WazirX.

According to some recent media reports, Binance exchange acquired an Indian-based crypto exchange that is now the focus of authorities over accusations of money laundering. The Indian Enforcement Directorate (ED) has frozen $8.14 million of WazirX for ‘laundering of fraud money.’

 

However, the latest clarification by Binance’s own CEO reveals that the claims that Binance exchange is the parent company of WazirX are false. CZ made his points known in a series of Tweets in a thread that sought to bare the facts that the Binance exchange has no direct connection with WazirX.

“Binance does not own any equity in Zanmai Labs, the entity operating WazirX.”

 

Transaction Never Completed

The CEO made it known that, while Binance exchange has been attempting to acquire India’s largest crypto exchange, WazirX, a few issues hindered these efforts. Apparently, the transaction needed to close the deal has never been completed, and therefore Binance and WazirX are still separate entities. He said:

“On 21 Nov 2019, Binance published a blog post that it had “acquired” WazirX. This transaction was never completed. Binance has never – at any point – owned any shares of Zanmai Labs, the entity operating WazirX.”

Role Of Binance On WazirX

However, CZ admitted that Binance provides wallet services to WazirX and off-chain integration to help save on transaction fees. These two services are provided as a tech solution and are the only links the two entities currently have. Other functions like wallet creation, KYC protocols, deposits, trading, and withdrawals are handled by WazirX as a crypto exchange itself.

“Binance only provides wallet services for WazirX as a tech solution. WazirX is responsible all other aspects of the WazirX exchange, including user sign-up, KYC, trading and initiating withdrawals.”

This distances Binance from the current troubles faced by WazirX. Apparently, WazirX was discovered to be running fraudulent loan applications that were identified as a money laundering scheme by the authorities. WazirX is operated by Zanmai Labs, which has no links to Binance. Banks’ assets belonging to WazirX were frozen following the discovery by Indian authorities.

Binance CEO further says users who have issues with WazirX can simply transfer their funds to Binance.

Binance Co-operates With Law Enforcement

CZ emphasized that Binance exchange is known to fully co-operate with law enforcement agencies worldwide and that the exchange would be happy to work with such agencies on the case. Binance is one of the largest crypto exchanges in the world. 

British Man £20k In Bitcoin Investment Scam Turns £19: Report

Mark Brennan
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British Man £20k In Bitcoin Investment Scam Turns £19: Report

 

Thames Valley local becomes a victim of a Bitcoin scam.


A report from The Royal Borough Observer on Friday reveals that a resident of Thames Valley in South East England has lost £20k (approximately $24k) in a fraudulent Bitcoin investment scheme.

The report reveals that this is the second case in the community in the last two weeks.

The unnamed victim made an initial investment of £200 (approximately $241) before being urged to invest more by the company, upon which he transferred an additional £20k to the firm. Afterward, the company informed the victim that his investment had doubled to a whopping £41,532 (approximately $50,139). However, when the victim opted to liquidate his holdings, the company informed him that his account had suddenly depreciated to just £19.18 (approximately $23.16).

The report reveals that when he tried to send the supposed company more funds to recoup his losses, the transaction was flagged by his bank as a possible scam, and his account was frozen. The bank went on to contact the police as per the standard protocol.

It is worth noting that authorities have been unable to convince the victim that the company in question is fraudulent. Authorities explain that these fraudulent investment schemes usually start you up with small amounts so as not to attract the attention of law enforcement, warning community members to be alert.

The report does not specify how the scammers initially contacted the victim. However, it is worth noting that crypto investment scams have become prevalent on social media. Notably, in June, the FBI warned that crypto fraudsters are now using LinkedIn to target victims. In addition, the Federal Trade Commission (FTC) estimates that investment scams rank as the number one scheme used by fraudsters on social media platforms, estimating that at least $575 million was lost to these schemes in 2021.

Individuals should always be on guard for any crypto investment schemes promising unrealistic returns.

243 Million XRP Transferred Among Ripple, Exchanges And Unknown Wallets As Shuffling Cross 1B XRP This Week

Lele Jima
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243 Million XRP Transferred Among Ripple, Exchanges And Unknown Wallets As Shuffling Cross 1B XRP This Week

 

Another large volume of XRP flowed among exchanges, Ripple, and unknown wallets.


The rising demand for Ripple’s On-Demand Liquidity (ODL) solution is still fueling the large movement of XRP between cryptocurrency exchanges and unknown wallets. 

Over the week, more than a billion XRP have moved between unknown wallets and cryptocurrency exchanges. Yesterday, nearly 600 million XRP tokens were transferred in multiple transactions, 224M on the 3rd of August and 172 Million on the 2nd of August, and 224M today.

Whale Alert, a leading crypto whale tracking service, continues to share details of more of these transactions. In the last 24 hours, a total of 243,935,767 million (243.93 million) XRP coins have flowed among Ripple, cryptocurrency exchange, and unknown wallets. 

As reported by Whale Alert, 40 million XRP, worth $15 million, were sent from an unknown wallet to Bitstamp. 

The Luxembourg-based cryptocurrency exchange has been the major party to these large XRP movements in recent times. It is noteworthy that Bitstamp was the exchange former Ripple CTO used to offload his last XRP holdings. 

A few hours later, Whale Alert also observed another large XRP movement from an unknown wallet to the exchange. This time, 30 million XRP coins worth $11.29 million were transferred from the anonymous wallet to Bitstamp. 

Interestingly, the Silicon Valley tech company was also involved in the latest series of large XRP transactions. According to Whale Alert, Ripple transferred a whopping 50 million XRP coins ($18.67 million) to an unknown address. 

Although the owner of the wallet is unknown, it is believed that the funds were sent to an ODL client. 

More Large XRP Movements

Furthermore, 30 million XRP tokens, worth $11.29 million, were observed by Whale Alert to have flowed from an unknown wallet to Bitso exchange, a member of Ripple’s ecosystem. 

Again, Bitstamp was involved in another large XRP movement in the last 24 hours. This time, the funds moved from the exchange to an unknown wallet. 

Per Whale Alert, 63,935,767 (63.9 million) XRP coins were transferred from the Bitstamp exchange to an unknown wallet. At the time of the transaction, the coins were worth approximately $24.08 million. 

Additionally, 30 million XRP coins, worth around $11.16 million, were also seen to have flowed from Bitso to an unknown wallet. 

Cardano Whales Accumulate $138M In ADA, Is A Price Upswing Coming?

Mark Brennan
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Cardano Whales Accumulate $138M In ADA, Is A Price Upswing Coming?

 

Whales and sharks have accumulated ADA over the last eight days.


In a tweet on Friday, Santiment Feed reveals that Cardano big bag holders have been in an accumulation phase over the last eight days, accumulating about $138 million in ADA.

“Cardano shark & whale addresses have accumulated a combined $138M in ADA in 8 days after the mid-June dump around the local price top. This is only a mild accumulation for now but could get interesting if this trend continues throughout August,” Santiment tweeted.

Santiment chart further highlights that Cardano addresses holding 10K to 10M ADA have added a combined 0.46% of Cardano’s existing supply since July 27th.

Whale accumulation is usually a good sign as it indicates positive sentiment about an asset surging in price in the short-term or long-term. Notably, there have been a lot of positives for the Cardano network that could have sparked this latest accumulation.

On Monday, Input Output Global (IOG) founder Charles Hoskinson, one of the minds behind the Cardano network, assured users that he expected no further delays in the long-awaited Vasil hard fork upgrade. Notably, the upgrade, which promises to usher in several decentralized applications (dApps) and unlock new levels of smart contract functionality, was scheduled for launch at the end of July but has now been delayed for several weeks. However, according to Hoskinson, developers are now in the final stages of testing.

Additionally, the network is also seeing growing adoption. On Tuesday, Swiss digital asset bank Sygnum revealed that it was adding ADA to its staking offering. Furthermore, on Wednesday, Flint Wallet revealed it was bringing Cardano dApps to IOS users.

Notably, the network showed significant growth in on-chain metrics in July. Transactions and the number of wallets saw a boost, indicating greater adoption even as the number of Plutus scripts grew by nearly 5%, indicating a flurry of developmental activity.

At the time of writing, Cardano is trading at the $0.5187 price point, up 1.94% in the last 24 hours and 0.88% in the last seven days.

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