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Shib Breaking Internet: Shiba Inu Social Dominance Increased By 57% After Robinhood Listing

Zabi
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Shib Breaking Internet: Shiba Inu Social Dominance Increased By 57% After Robinhood Listing

 

The announcement from Robinhood has broken the internet and Shiba Inu (SHIB) again become a trending topic all across social media platforms – especially Twitter.



As per the recent report published by Fiatom.io, the social dominance for Shiba Inu rose by 57.5% during this week.

The main reasons are:

  1. Robinhood added support for SHIB
  2. Launch of SHIB: The Metaverse

Robinhood Now Supports SHIB:

On Tuesday, Robinhood, an American financial services company headquartered in Menlo Park, California recently declared the listing of Shiba Inu on their platform. This development seems to have given birth to a new wave of hype for SHIB.

Shiba Inu is now available to trade on one of the leading exchanges in terms of users. Robinhood has over 22 million registered users. This could potentially introduce SHIB to the new people who wanted to get their hands on the most popular dog-themed cryptocurrency while remaining loyal to Robinhood only.

Launch of SHIB: The Metaverse

SHIB is making great progress day after day. The execution strategy is so strong that it’s not even been a year and has introduced so many developments to the ecosystem like SHIB: The Metaverse.

SHIB: The Metaverse was first introduced by the team as a surprise announcement on January 24, 2022. Just after 75 days of the introduction, the team now has finally declared the official launch of its own Metaverse. The land sales Bid Event is now undergoing and will end in less than 72 hours.

LEASH holders have been provided an exclusive excess to the map in this event. The war for land acquisition in SHIB: The Metaverse is at its full peak right now. The bidding event already has surpassed over 4500+ transactions, as per the recent report. This is how fast the execution of the team is.

Michael Saylor To Elon Musk Twitter Buying: “if You Can’t Buy All of Twitter, Buy A fraction of Bitcoin”

Lele Jima
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Michael Saylor To Elon Musk Twitter Buying: “if You Can’t Buy All of Twitter, Buy A fraction of Bitcoin”

 

Michael Saylor Advices Elon Musk to Purchase Fractions of Bitcoin (BTC) Instead of Twitter.


 

Several social media users have responded to reports of Elon Musk’s move to purchase Twitter, the popular microblogging platform, for over $40 billion.   

With many comments being made about the move, Michael Saylor, the CEO and founder of MicroStrategy, has also weighed in on the recent development. 

Saylor, a popular Bitcoin proponent, took to Twitter to urge the owner of the American electric car company to consider buying fractions of the world’s largest cryptocurrency by market capitalization if his offer to purchase Twitter is rejected. 

“lf you can’t buy all of @twitter you can still buy a fraction of #bitcoin,” Saylor tweeted. 

 

Musk Offers to Buy Twitter

Recall that earlier today, Musk disclosed that he made an offer to buy Twitter for $41.39 billion. According to his offering, he is willing to pay $54.20 per share of Twitter less than a week after his stake in the company was announced. 

 

“I invested in Twitter as I believe in its potential to be a platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk said in a letter to Twitter chairman Bret Taylor. 

In his most recent offering, Musk noted that since investing in Twitter, he has come to the conclusion that the company will not achieve its societal goals in its current state. 

He declared his willingness to take the company private if his offer of $41.39 billion is granted. 

Musk said he sees the offer as his best and final move, adding that if it is not granted, he will be forced to reconsider his position as a stakeholder. 

Saylor Promoting Bitcoin Adoption

Meanwhile, Saylor has been one of the pioneers of Bitcoin adoption, calling on the world to buy the cryptocurrency as he considers the asset class as a hedge against inflation. 

Saylor recently noted that Bitcoin will reimburse people who were robbed by inflation, a call to people who are still relying on the traditional financial system. 

 

Even Top Dogecoin Bull Says Shiba Inu Can Increase 3200% From Here

Mark Brennan
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Even Top Dogecoin Bull Says Shiba Inu Can Increase 3200% From Here

 

Analyst Says Shiba Inu Could go 3200% from Current Price.



A Dogecoin bull, David Gokhshtein says Shabi Inu can potentially hit $0.001 from its current price. This will imply a 3200% pump from SHIB’s current value, a feat Gokshtein believes is possible.

The analyst wrote in a tweet, Wednesday that he doubts if SHIB will hit $1, but that he is confident it will reach $0.001. 

“I don’t believe $SHIB will hit $1, but I can see it touching $0.001. My personal opinion. I’ll take it,” he wrote.

Why he is so confident 

You may be wondering why this meme coin supporter is so positive that SHIB will reach $0.001. Well, it is because he also believes that meme coins are the “gateway” to crypto for new investors. This is because meme coins generally experience rapid upward price movements in their initial years, which proves to be profitable for new investors who don’t have much to spare. 

Shiba Inu, which is in question, added 100 million percent to its value in 2021 alone. Several millionaires were made as a result, who invested negligible amounts of money. 

Dogecoin has also experienced phenomenal price explosions that empowered many new investors who are likely to keep buying the crypto in this class. Gokshtein is Confident that Shiba Inu is on its way higher.

In another tweet earlier today, he wrote:

“I’m super bullish on Bitcoin – but I’m open-minded to everything. Projects like SHIB will introduce people who don’t know that they could buy a fraction of a Bitcoin to our space. That’s a good thing. Not bad. Good. Bye.”

How SHIB is doing

Shiba Inu has recently been down alongside other top cryptocurrencies as the April correction lingered. As the market is showing signs of recovery, it has also turned green. Prior to the recovery, the price had shot up to $0.00002977 on 12 April following its listing on Robinhood. The price has dropped to $0.00002688 at the time of writing this report but if Gokshtein’s prediction plays out, it may be on another run-up soon.

CNBC Sends Bitcoin Over Lightning Network to Ukrainian in Poland Who Cashed Out in 3 Minutes

Albert Brown
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CNBC Sends Bitcoin Over Lightning Network to Ukrainian in Poland Who Cashed Out in 3 Minutes

 

In juts 3 minutes Bitcoin were sent and cashed out.



Following the invasion of Ukraine by Russia, Ukrainians have been stranded, especially in the area of finances. Alena Vorobiova is a Ukrainian who fled to Poland in the heat of the invasion. CNBC tried to use the Bitcoin Lightning Network to send BTC to her as an option against traditional funds transfers.

With the help of bitcoin developer Gleb Naumenko, Vorobiova could download and install a Bitcoin Lightning wallet on her phone, which she used to receive the Bitcoin. Peter McDormack, founder and host of the ‘What Bitcoin Did’ podcast who demonstrated to CNBC how to use Lightning Network months ago, also transferred 100,000 sats to them. From this stash, CNBC decided to send 50,000 sats to Vorobiova, which she withdrew within 3 minutes.

Low-cost transaction

Lightning Network is a Layer 2 solution for the Bitcoin network created to facilitate faster Bitcoin transactions at lower fees. This became necessary as Bitcoin became congested after more people started using it with limited block size.

CNBC testifies how fast it is to use Lightning Network for BTC transactions. The transaction was also processed at a fraction of a penny. This is remarkable considering that traditional funds transfer methods cost at least 10% from the U.S to Poland. 

Another remarkable thing about the transaction is that there was no intermediary involved; the BTC was directly transferred to the recipient’s wallet in a peer-to-peer fashion.

“The Lightning Network consists of nodes connected by payment channels, which are used to forward payments across the network without the need to trust intermediaries,” a developer with Jack Dorsey’s team known as Spiral (formerly Square Crypto), Czyz said.

Lightning network wider adoption

The idea of the Bitcoin Lightning Network was initially taken with a pinch of salt. However, Situations have arisen that necessitated the use of technology to transfer funds from one place to another. The Ukraine war is one of the recent happenings that have demonstrated the need for the Lightning network in crowdfunding for people like Vorobiova.

The number of Bitcoin Lightning nodes has increased by 5% in the last 30 days to 31,965, indicating that more users are coming on board. This is apart from nodes that only operate private channels. The number is expected to grow as people continue to look for cheaper ways to transfer funds across borders.

Terraform Labs Donates 10 Million LUNA Coins Worth Nearly $900M to Terra Luna Guard Foundation

Lele Jima
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Terraform Labs Donates 10 Million LUNA Coins Worth Nearly $900M to Terra Luna Guard Foundation

Terraform Labs Donates 10 Million LUNA Coins.



The Luna Foundation Guard (LFG) has announced that it has received a donation of 10 million units of $LUNA tokens worth $880 million from Terraform Labs (TFL), the company behind the creation of Terra. 

“TFL has gifted an additional 10 million LUNA to the LFG_org,” LFG announced in a tweet.  

 

According to the details of the transaction, the funds were sent earlier today for a fee of 0.5 TerraUSD ($UST), the official stablecoin of the Terra ecosystem. 

Prior to the recent donation, the LFG held about 42,410 bitcoin (BTC) worth $1.75 billion, 50,000 LUNA ($4.35 million), 398 million USDC, and 151 million Tether (USDT), Wu Blockchain revealed. 

Not New

It is worth noting that this is not the first time TFL will be making LUNA donations to the Luna Foundation Guard. 

Last month, Do Kwon, the CEO of Terraform Labs announced that the company has made a donation of 12 million LUNA valued at $1.2 billion at the time of the transaction to LFG. 

At the time, the company noted that its goal is to continue growing the LFG’s decentralized forex reserves. The fund is dedicated to supporting the growth of the UST stablecoin and maintaining its peg on a 1:1 ratio to the United States dollar. 

As explained by Kwon, Terra will use the donations to mint and burn $UST, and further grow the reserve of the stablecoin. 

Terra Buying Bitcoin as Reserve for UST

Terra is working relentlessly to earn the trust of users regarding the stability of the UST stablecoin and its backing by the U.S. dollars. 

Several efforts have been made so far toward earning users’ trust in the stablecoin, including a declaration made by the LFG last month that it will be purchasing $10 billion worth of BTC as a reserve for $UST. 

The company has used several platforms, including Binance, to purchase BTC, which will provide backing for its stablecoin. 

The LFG’s BTC wallet currently holds 42,406 coins that are cumulatively worth $1.7B.

 

Top Canada-based Payment Gateway FCFPAY Adds Support for Shiba Inu

Zabi
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0
Top Canada-based Payment Gateway FCFPAY Adds Support for Shiba Inu

 

Merchants From Across the world Can accept Shiba Inu as payment.



FCF Pay, a crypto payment gateway, recently made an announcement that they’ve listed Shiba Inu (SHIB) on their platform. Now, merchants will be able to accept SHIB in exchange for their services.

FCF Pay empowers cryptocurrency holders by allowing them to purchase goods and services through the world’s first viable fully-encrypted cryptocurrency payment gateway.

As per the official website, FCF Pay currently supports 10 major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), Dogecoin (DOGE), Tether (USDT), and Stellar (XLM).

FCF Pay is powered by French Connection Finance (FCF), a Canadian-based company with an official incorporated business license. FCF Pay allows cryptocurrency holders to use crypto as a currency when buying goods and services. At the same time, it offers an all-in-one solution to merchants through which they become able to accept both cryptocurrency and fiat payments.

On March 22, a Singapore-based web3 crypto payment gateway, PayBolt added support for Shiba Inu, enabling users to buy real things like coffee, dinner, clothes, electronics, or anything they need in exchange for SHIB tokens using PayBolt’s system.

At the time of writing, SHIB is trading at the price of $0.0000263, down over 5% for the day. The 24-hour trading volume for the most popular dog-themed cryptocurrency decreased by -64.64% compared to the previous day and currently stands at $1,573,429,598.78. ($1.57B).

Cardano (ADA) Underperformance Puts Over 80% Holders at a Loss, Data Shows

Lele Jima
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0
Cardano (ADA) Underperformance Puts Over 80% Holders at a Loss, Data Shows

 

Is there still hope for ADA holders?



In recent times, Cardano (ADA) has not been moving in the direction many of its investors want. Investors have watched as the token’s value plunged massively, trading below $1 for most of the year. 

ADA, which peaked at an all-time high (ATH) of $3.09 last year, is down 68.5%, with the cryptocurrency struggling to climb $1. 

The underperformance of the cryptocurrency has resulted in massive losses for investors, with many enthusiasts left with no choice but to hold the coin hoping that its price will surge, as the project slowly becomes the perfect network for developers. 

More Holders in Loss

According to data on crypto analytic platform IntoTheBlock, 82% of addresses holding the cryptocurrency are at a loss of all the holders of ADA. Meanwhile, only a week ago, the percentage of addresses holding ADA in the loss was 67%. 

holders making money at current ADA prices

Following the crypto market crash, the cryptocurrency’s price, which was nearly $1.1, slumped to a low of $0.92, thus putting more ADA holders at loss. 

As the market seems to have stabilized, the cryptocurrency’s value has soared from $0.92 to $0.97, but the percentage of addresses holding ADA in loss is still increasing, currently at 82%. 

At the moment, only 14% of ADA addresses are in profit and this is mainly traders that bought the asset class last month when its price dipped below $0.80 a mid-last month. More information on IntoTheBlock data for ADA shows that only 3% of holders are in profit. 

ADA Holders Show Faith

It is worth noting that a majority of ADA holders, representing 77%, have been holding the cryptocurrency for between 1 and 12 months, while 12% of total addresses have been holding for over a year. Similarly, another 12% holding the cryptocurrency have held for less than a month. 

The majority of Cardano holders seem confident that the price will still surge regardless of the current performance of the coin. 

Investors are encouraged that the Cardano network will soon lure more decentralized applications (dApp) into launching on the blockchain once the Vasil hard fork goes live by June 2022. 

With more dApps on Cardano, the utility of ADA will expand, giving a massive boost to the cryptocurrency. 

At the time of writing this line, ADA is currently changing hands at $0.968, up 1.1% in the last 24 hours. 

U.S Senator Ted Cruz Says He’s Open To Use Bitcoin As Legal Tender

Albert Brown
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U.S Senator Ted Cruz Says He’s Open To Use Bitcoin As Legal Tender

 

U.S Senator Ted Cruz says he has no problem with Bitcoin becoming a legal tender in the United States.


Republican U.S Senator Ted Cruz says he is fine with the United States making bitcoin a legal tender. The vocal Bitcoin proponent said the industry is “an incredibly blossoming industry,” a claim most people would agree with.

Ted Cruz has been a vocal supporter of Bitcoin and an investor in the digital currency for a long time and has pursued legislation that favors Bitcoin in his own capacity. Following the introduction of the Infrastructure Bill, Cruz championed a fight to remove harmful regulations hurting cryptocurrencies from the bill. 

Texas, the state he is representing in the Senate, is one of the most crypto-friendly states in the country, and given the abundant energy available in the state, Cruz, in a tweet, said it should be “ground zero” for cryptocurrencies. The state governor, Greg Abbott, is also a Bitcoin proponent and has worked closely with Cruz about Bitcoin promotion in Texas.

Bitcoin as legal tender in the U.S

The question of making Bitcoin legal tender has come up in some states, such as Arizona and Texas, where Cruz comes from. However, the debate has hardly come up at the federal level. 

Instead, the government is still just considering the creation of a central bank digital currency (CBDC) to remain competitive against rival governments. In addition, the country has generally been reluctant about cryptocurrencies and only recently started working on a regulatory framework for the industry.

However, following the rapid growth of digital currencies over the last five years, from a valuation of $14 billion to over $2 trillion in the last five years, President Joe Biden’s administration released the first of its kind executive order for the nascent asset class.

Meanwhile, El Salvador, a Latin American country, has since made Bitcoin a legal tender, a move that has faced resistance from the World Bank and criticism from the International Monetary Fund (IMF) and some senators from the U.S. 

Although there are pro-Bitcoin lawmakers like Cruz in the U.S, there are more anti Bitcoin lawmakers, which makes the question of Bitcoin becoming a legal tender quite far-fetched, at least for now.

Bitcoin seeing state adoption

El-Salvador was the first nation to adopt Bitcoin as legal tender but is certainly not the last. The Crypto Basic recently reported that Mexico, Madeira, and the city of Honduras have moved to adopt Bitcoin as legal tender. 

This is due to Samson Mow’s efforts, a man who believes in Bitcoin and its potential to change the world, just like Ted Cruz. With such efforts, though, more countries are likely to adopt the top digital currency in the future, including the United States, which currently stands against the move.

California Lawmaker Proposes Use of Blockchain to Verify Unemployment Claims

Mark Brennan
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California Lawmaker Proposes Use of Blockchain to Verify Unemployment Claims

California Lawmaker Proposes Use of Blockchain to Verify Unemployment Claims.



A lawmaker in California has proposed using blockchain technology to deal with unemployment fraud. The lawmaker, Assemblyman Jordan Cunningham, representing a district on the Central Coast, introduced the bill (AB 2781), requiring the “Office of Digital Innovation” to explore using blockchain technology in the employment sector.

Specifically, the law will empower the office to study how blockchain technology can be used to verify identity and prevent fraud in the state’s unemployment insurance system and report to the legislature on their findings. 

California is big on blockchain. 

The state of California recently started seriously considering the use of blockchain technology in different aspects of governance. Not too long ago, the state’s legislature established the Office of Digital Innovation in its operations agency to deliver better government services to the people.

The proposed bill may not have a good chance of passing through the legislature as bills sponsored by Republican lawmakers have not been very successful in the past due to Democratic dominance.

If passed into law, it will be a major application of blockchain in governance for the state. It could also potentially Fastrack the use of the technology in other areas of governance, such as wage payments verification and checking the validity of employment contracts.

Blockchain seeing mainstream adoption

Before now, blockchain technology was considered one created for cryptocurrencies alone. Many even considered it a pastime for nerds and nothing to be taken seriously. Over a decade has passed, and now the perception is changing. Blockchain Technology has been embraced not just in different business sectors but also in governance.

California is just one of the latest states to look into blockchain for governance. Still, many other states and regions have proposed adopting the technology for different applications. These include states and territories like Arizona, New York, North Dakota, Pennsylvania, Maine, and Puerto Rico.

Breaking: Lawsuit Filed Against Former SEC Executives Clayton & Hinman for Corrupt Roles Played in Ripple v. SEC Saga

Mark Brennan
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Breaking: Lawsuit Filed Against Former SEC Executives Clayton & Hinman for Corrupt Roles Played in Ripple v. SEC Saga

Concerned XRP Enthusiasts finally filed a lawsuit against Jay Clayton and William Hinman following several calls from Ripple investors.


 

Following several calls by the Ripple (XRP) community to investigate the allegations of corrupt practices by former Securities and Exchange Commission former executives Jay Clayton and William Hinman, Shannon O’Leary via U.S. litigator Fred Rispoli has filed a class action against the duo. 

Rispoli alleged in the suit filed against Clayton and Hinman that both former executives acted in favor of their previous and present employers, which have strong affiliations with Ethereum, to hurt the hundreds of thousands of XRP investors globally. 

In a lengthy Twitter thread, Frispoli noted that while no agency has taken any interest in the calls made by the Ripple community to investigate the activities of former SEC chairman Clayton and the commission’s finance director Hinman, O’Leary had decided to take up the matter. 

According to Rispoli, there is substantial evidence revealing some of the shady practices of Clayton and Hinman, and as such class action has been filed against them. 

“On April 11, 2022, a class-action lawsuit was filed against Mssrs. Clayton and Hinman for tortious interference in ALL XRPL Network Users’ valid business expectancy in the XRPL Network. The Lead Plaintiff and my client, Shannon O’Leary, decided to take a stand,” Rispoli noted. 

 

It is worth noting that this is not the first time Clayton and Hinman have been accused of working against Ripple to favor Ethereum. 

Clayton & Hinman’s Involvement

Clayton was named Chairman of the SEC on May 4, 2017, by former President Donald Trump. Upon his resumption as the commission’s chairman, Clayton appointed Hinman to become the Director of the Division of Corporation Finance at the SEC on May 9, 2017. 

Before Hinman’s appointment, he held a major post at the U.S. law firm Simpson Thacher, an organization that sits on the Enterprise Ethereum Alliance, which represents ETH’s financial interests.  

In 2018, Clayton declared that Bitcoin is not a security, forcing its price to soar tremendously and it sealed its position as the largest cryptocurrency by market capitalization. 

For clarity, Ethereum and Ripple were in a fierce rivalry over which digital currency would take the second position in the global cryptocurrency rankings. 

Conflicts of Interest?

However, Hinman dashed Ripple’s hope of competing with Ethereum as the second-largest cryptocurrency by market capitalization by declaring that ETH is not a security. Like Bitcoin, Ethereum’s value spiked, leaving Ripple behind. 

While Ripple was still trying to recover from comments made by Hinman, Clayton on his last day in office on December 4, 2020, charged Ripple and two of its executives for conducting unregistered security offering in the United States, more than seven years after the sales were made. 

A few weeks after Hinman resigned from the SEC, he subsequently went back to his former company Simpson Thacher, where he was paid $15 million to cover his wages while he was away working with the Securities and Exchange Commission. 

After Clayton left the agency in April 2021, he was made an advisor to One River Asset Management, a cryptocurrency company that focuses on Bitcoin and Ethereum. 

Both Clayton and Hinman have been accused of indulging in numerous conflicts of interest, as recent emails suggest that the latter was still having meetings with Simpson Thacher even during his time as SEC Director, a move that breached the agency’s policy. 

While no security agency has taken the mandate to investigate the alleged corrupt practices of Clayton and Hinman, O’Leary through the support of the XRP community would hope that the U.S. legal system proves these facts. 

New Developments

Meanwhile, Ripple is confident that during Hinman’s 2018 speech where he declared that Ethereum is not a security, there is a huge possibility that the former SEC director commented on the legal status of XRP. 

However, the SEC has consistently refused to provide the emails containing Hinman’s draft speech, stating that the agency’s former finance director’s comment is only a personal opinion and cannot be used as public guidance. 

Interestingly, Judge Sarah Netburn, in her most recent ruling, ordered the SEC to surrender Hinman’s emails to Ripple. 

With the directive, it is expected that the SEC could be forced to negotiate a settlement with Ripple, with many speculating that it would be in favor of the blockchain company.

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