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Bloomberg’s Senior Analyst Says Ethereum Is the “Collateral of the Internet,” Expects Price Surge Amid Growing Demand 

Albert Brown
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Bloomberg’s Senior Analyst Says Ethereum Is the “Collateral of the Internet,” Expects Price Surge Amid Growing Demand 

Ethereum is now the collateral of the internet following its widespread adoption in NFT and metaverse sectors.



Mike McGlone, a senior commodities analyst at Bloomberg, called Ethereum (ETH) the collateral of the internet following the cryptocurrency’s widespread adoption across various blockchain protocols like non-fungible tokens (NFTs) and the metaverse. 

The Bloomberg strategist, who has made positive predictions for the cryptocurrency market in recent times, noted that Ethereum prices will continue to surge given the widespread adoption of the coin across these blockchain protocols. 

His most recent prediction for Ethereum comes as demand for the second-largest cryptocurrency skyrockets while its total supply has decreased, following multiple initiatives being carried out on the network, including the ETH 2.0 staking. 

“Demand is increasing, supply is declining and Ethereum‘s position at the epicenter of the digitization of finance and money suggests further price appreciation. Ethereum — the denominator for NFTs and top platform for tokenization — is becoming the collateral of the internet,” McGlone tweeted recently. 

Ethereum is currently one of the most adopted cryptocurrencies in the world, with its use case expanding beyond expectations on a daily basis. 

ETH is mostly used as a payment token that grants investors access to the world of non-fungible tokens and metaverse. 

Several NFT and metaverse projects have accepted the coin as the payment method for their digital collectibles, including Bored Ape Yacht Club (BAYC) non-fungible token. 

Shiba Inu is also planning to use Ethereum as a payment token for its 100,595 plots of land that will be offered in SHIB: The Metaverse. 

Similarly, the number of Ethereum in circulation has reduced significantly, as the community anticipates the launch of ETH 2.0. 

Recall that a deposit contract was created in November 2020, with Ethereum holders required to stake at least 524,000 ETH before Ethereum 2.0 (Phase 0) will launch. 

Since the initiative started, Ethereum holders have successfully staked over 11 million ETH in the contract, with 100,000 units of the coin added in just one week.  

Top 10 New York Stock Exchange (NYSE) Listed Companies That Accept Dogecoin As Payment

Lele Jima
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Top 10 New York Stock Exchange (NYSE) Listed Companies That Accept Dogecoin As Payment

Dogecoin (DOGE), the meme coin, which started as a joke, has been widely adopted as a payment method across popular brands following its popularity in the cryptocurrency industry.



Launched in 2013, the cryptocurrency which has an unlimited supply saw its value spike to nearly $1 last year, a remarkable price action that bolstered interest in the 12th-largest token.

With interest in DOGE skyrocketing, top companies do not want to miss out on its unending opportunities and have opted to accept cryptocurrency as a payment method.

Over a hundred companies have announced support for DOGE payments. However, this article has decided to cover only the top 10 New York Stock Exchange-listed companies that accept DOGE payments.

Tesla

Elon Musk, the founder of Tesla, a popular American electric car company, has not failed to throw his weight behind the popular memecoin. As a Dogecoin proponent, the billionaire investor proceeded to integrate the cryptocurrency as a payment method. Users can purchase Tesla electric cars as well as other accessories on Dogecoin.

Newegg

Newegg is an online retail company that offers the sale of computer hardware and consumer electronics. The online retail giant started accepting DOGE payments in spring 2021. It is worth noting that the use of DOGE on Newegg is limited as customers cannot use the payment method for subscription orders, gift cards, and return labels.

Keys4Coins

Keys4Coins is a PC game store where users can buy gift cards and game keys using Dogecoin. Some of the game keys the platform offers include PSN, Origin, and Steam, among others. The platform also offers a range of other cryptocurrency payments such as Litecoin, Ethereum, and Bitcoin.


Bitrefill

Bitrefill creates an opportunity for Dogecoin users to buy all forms of gift cards for travel, clothing, grocery shopping, movies, gaming, etc. With gift cards purchased on Bitrefill, you can use them to buy items from online stores that are yet to offer Dogecoin payments. Some of these platforms include Google Play, Amazon, Steam, etc.

Twitch

Launched on June 6, 2011, Twitch is an American live video streaming service focused exclusively on video games. The video-sharing platform hinted at offering DOGE payments as far back as 2014, years before interest in the nascent asset class exploded. With cryptocurrency, users can pay for subscriptions, tip gamers, and perform other available services on the platform without the need to connect their credit cards.

easyDNS

Canadian-based internet service provider easyDNS started accepting Dogecoin payments in Spring 2021. The development made easyDNS ranked the first Internet Corporation for Assigned Names and Numbers (ICANN) to adopt Dogecoin payments in exchange for domain names, DNS, and email servers.

Dallas Mavericks

The Dallas Mavericks announced in March 2021 that customers can now pay for match tickets and other merchandise using the popular memecoin. To make the initiative possible, the American professional basketball team had to partner with BitPay, thus allowing fans to pay for match tickets and other merchandise using Dogecoin.

AMC Theaters

In a bid to accept Dogecoin payments for movie tickets and the rest of its merchandise, popular American cinema AMC Theaters partnered with leading crypto payment provider BitPay earlier this year. At the moment AMC Theaters customers can make DOGE payments directly on the website, but they will have to wait until mid-April to use the cryptocurrency on the app.

airBaltic

With Dogecoin, travelers can pay for flight tickets on Latvian airline airBaltic. Although using DOGE to pay for flight tickets is not as common as paying for physical goods, airline operators are beginning to see the prospects of the memecoin based on its popularity globally.

airBaltic’s support of Dogecoin is part of an effort to lure more customers who are cryptocurrency enthusiasts into using the brand. Aside from Dogecoin, airBaltic also supports ethereum ETH), Binance USD (BUSD), USD coin (USDC), pax standard token, and Gemini USD (GUSD).

GameStop

The popular American gaming and electronic merchandise GameStop announced in late 2021 that it would be accepting Dogecoin payments as well as Shiba Inu (SHIB). The initiative was possible as a result of the company’s partnership with Flexa, a cryptocurrency payment provider. With Flexa’s app, SPEDN, GameStop customers can pay for goods on the online store using Dogecoin.

Final Thoughts

While the list does not feature the complete number of companies currently accepting DOGE payments, the article indicates a growing interest in the meme coin. With more companies adopting Dogecoin payments, enthusiasts will not have to go through the stress of using the traditional payment method, which has multiple downsides.

Could Bitcoin Outperform the Stock Market in 2022?

Mark Brennan
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Could Bitcoin Outperform the Stock Market in 2022?

In theory, 2022 should be the year that we see Satoshi Nakamoto’s dream in action. The pseudonymous Bitcoin creator launched the coin in 2009, off the back of a deep stock market crash and the emergence of global recessions. Bitcoin’s decentralized structure was supposed to help it sidestep wider market volatility. However, events over recent years have shown that this is far from the case. As geopolitical tensions and rising inflation rates cause a cost of living squeeze, could Bitcoin finally demonstrate its worth as the world’s best safe haven asset? 



Because Bitcoin is built on a distributed digital ledger, it has no central location, and thus, no nationality or governmental ties. This should mean that, as domestic currencies weaken in the face of record-breaking inflation rates, BTC should stand firm. 

As we can see from the performance of BTC/USD over the past 12 months, there’s very little evidence on show that Bitcoin can hold its own as a safe haven asset like gold. Notably, Bitcoin embarked on a heavy fall of around 50% between the 8th of November and 22nd January as the impact of rising inflation was finally becoming realized by investors.

As we can see from the recent performance of gold, BTC’s credentials as a store of value at a time of crisis have been questionable.

In the wake of the news that geopolitical tensions were ramping up in Eastern Europe, we saw the value of gold increase at a rapid rate as investors looked to withdraw their portfolios in traditional markets and find solace in commodities.

Bitcoin, however, has shown little movement – although evidence of an upward trend has been emerging since the announcement of President Biden’s recent executive order on cryptocurrencies, which has been met with a positive reception among crypto investors.

The reason for Bitcoin’s recent shortcomings despite its reputation as ‘digital gold’ is simple. When faced with possible rising living costs, investors don’t trust BTC enough to hold. Rather than gold, Bitcoin’s price movements mimicked tech stocks in Q4 2021 and Q1 2022, which became the subject of mass sell-offs among retail investors who decided that they’d like to recapture liquidity as prices began to tumble.

As an asset that relies heavily on investor sentiment, this apparent lack of faith is a hammer blow for Bitcoin. Investors will undoubtedly look to Bitcoin’s heavy 50% crash in May 2021 – which for many new adopters would’ve been their first major crypto crash – as an indicator that the coin isn’t built for market uncertainty.

Back in 2021, fears over the coin’s environmental impact and a tightening of regulations in China conspired to cause BTC to tumble from an all-time high of $63,588 on the 13th of April to just $29,790 by July 20th – a fall of more than 53%.

However, as an asset that’s designed to be decentralized, such volatility shouldn’t exist, and cryptocurrency enthusiasts will be quick to point out that with greater levels of adoption, these sentiment-driven price swings will become a thing of the past.

So, could the impact of 2022’s troubled markets actually provide the platform needed for Bitcoin to demonstrate its case as ‘digital gold’? Some analysts believe that this could be a pivotal year for the cryptocurrency:

The Road to $100,000

Despite Bitcoin’s recent underperformance, Maxim Manturov, head of investment advice at Freedom Finance Europe, has maintained a positive outlook regarding the potential value of the asset in the future. This is primarily down to the coin’s prospects regarding its wider adoption.

“Cryptocurrency is currently one of the most attractive alternatives to investing in stocks, bonds and commodities. Cryptocurrencies are generally highly volatile, which means investors can generate high returns. Yet, with volatility come greater risks,” Manturov noted.

“You no longer need a crypto wallet in order to trade cryptocurrencies. In 2021, large funds have started rolling out ETFs with direct or indirect links to crypto assets. Some of the largest and most popular Crypto ETFs include ProShares Bitcoin Strategy ETF, Grayscale Bitcoin Trust (GBTC), Amplify Transformational Data Sharing ETF (BLOK) and Grayscale Ethereum Trust (ETHE).”

According to a recent Binance report led by chief commodity strategist, Mike McGlone, market trends across the stock market and the cryptocurrency landscape were compared to reveal two key trends that could see Bitcoin outperform the wider stock market in 2022.

The trends revolve around the fact that Bitcoin is already showing signs of outperformance in comparison to the Nasdaq 100, whilst relative volatility appears to have slowed down since BTC’s deep crashes of 2021.

By looking into Bitcoin’s 260-day volatility metric, Binance’s report found that BTC had around three times the volatility of the Nasdaq 100. Despite this, current volatility has slowed significantly since the early days of the cryptocurrency market, and even in acknowledging 2021’s major downturns, the market is showing signs that it’s improved since the infamous crypto bear market of 2018.

The report acknowledges that, should traditional stock markets enter a bear market, it could form the catalyst for investor money to be rerouted into cryptocurrency – causing a significant Bitcoin price rally.

Analysts and researchers like Matthew Hyland and Ian Ballina are already speculating that 2022 could be the year that sees BTC reach $100,000. Whilst 2021 was populated by false dawns, market conditions in 2022 could provide BTC with the opportunity to finally prove its worth as digital gold and outperform the market in a way that’s befitting of a truly decentralized digital currency.

Major Italian Fashion Brand ‘Off-White’ Now Accepts Bitcoin, Ethereum And Ripple As Payments

Albert Brown
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Major Italian Fashion Brand ‘Off-White’ Now Accepts Bitcoin, Ethereum And Ripple As Payments

You can buy fashion items using BTC, ETH XRP across several locations of a major Italian fashion company.



According to VougeBusiness, Bitcoin, Ethereum and Ripple users can now use their holdings to shop at Off-White, a contemporary luxury fashion label, across its Paris, London, and Milan stores, Vogue Business media outlet reports. 

Off-White customers can also pay for their favorite Off-White product instantly using other cryptocurrencies like Binance coin (BNB), tether (USDT), and USD Coin (USDC). 

“This is another important step in the growth of the brand that looks towards the future, including Web 3.0 technologies, understanding the needs and desires of its ever-evolving customer base,” the brand noted in a statement. 

Notably, there has continued to be a growing adoption of Ripple (XRP) payments across various brands in recent times, as interest in the nascent asset class surges globally. 

Notably, Off-White is well aware of the volatile nature of cryptocurrencies, which has the prospect of recording a massive decline in value if not closely monitored. 

To mitigate this risk, the Italian fashion label said it had adopted the LUNU POS, a payment terminal capable of sourcing the best fiat-to-crypto exchange rate at the time of the purchase. 

In addition, customers who purchased items using cryptocurrencies and wish to return them will get refunds in local currency. 

Per the report, the fashion brand’s mission has always been to continue in its founder’s legacy of youth culture and innovation. 

Based on its focus on supporting youth culture, Off-White created a TikTok account to stream its Autumn/Winter 2022 show to the younger generation using the social media platform. 

Furthermore, Off-White’s adoption of cryptocurrencies targets the younger generation, who are enthusiastic about the asset class and consider fashion as an investment opportunity. 

Cryptocurrencies have been widely adopted by millennials who believe it is a technology that better serves their needs compared to traditional payment methods. 

The massive interest in cryptocurrency has continued to prompt more businesses to adopt the nascent asset class. 

463 Million Shiba Inu Burnt In 24 Hours, Over 6 Billion Shib Burnt In March

Zabi
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463 Million Shiba Inu Burnt In 24 Hours, Over 6 Billion Shib Burnt In March

Over 6.05 Billion Shiba Inu (SHIB) Tokens were Burnt in March.



Over 6.05 billion Shiba Inu (SHIB) tokens were destroyed in March 2022, while over 463.34 million SHIB tokens were burned on the month’s final day.

Shibburn.com recently released a monthly burn figure and reported that 6,050,996,291 (6.05B) SHIB tokens had been sent to the dead wallet by the community-led burning initiatives in March 2022 of 430 separate burns. This marks the record month for Shiba Burning, as this figure is a whopping 400% higher than the previous month when only 1,480,346,835 (1.48B) SHIB tokens had been taken out of circulation forever.

On the month’s final day, a whopping 463,342,447 (463.34M) SHIB has been taken out of circulation forever through 11 separate burns.

Top Burners of the Month:

Three newly emerged tokens, ETH SHIBA, ShibaBurn, and 1Cent, are among the top SHIB burner of the month and have stolen the show from Travis Johnson’s Bricks Buster game, which manages to secure 4th spot as the biggest burner of SHIB this month.

ETH SHIBA FLASH BURN EVENT:

ETH SHIBA hosted a FLASH BURN EVENT soon after P2PB2B, London-based world’s fastest-growing cryptocurrency exchange, officially declared the listing of ETH SHIBA on its platform.

As per details provided by ETH SHIBA, it will be available on the exchange for trading from 5th April 2022. This marks the first CEX listing for the newly emerged token, and to celebrate this milestone, ETH SHIBA reportedly sent 15 BNB with SHIB tokens, i.e., 242,328,377 (242.328M) to dead wallet through a single transaction. Shibburn.com verified the burn.

ETH SHIBA allows crypto investors to earn regular dividends in the form of Binance Pegged ETH just by holding ETHSHIB in their wallets. The token has already distributed over 97 ETH in rewards to its holders till now.

The token is only three weeks old and has no official relation with the Shiba Inu token. Twenty-one days since its launch, ETH SHIBA has achieved so much and is moving ahead of schedule with its ETH SHIBA roadmap. The token is now listed on two world-famous data tracking websites, CoinGecko and CoinMarketCap, and has more than 2,000 holders.

Moreover, the token claims that it has contributed to SHIB burn. The project has taken over 1.5 billion Shiba Inu tokens out of circulation forever.

 

Record BURN EVENT of the Month:

The biggest Burn Event of the week was from ShibaBurn-token, a new token aiming to burn SHIB while using 5% of its tax fees collected from its holders. The event was covered live on Mathew G. Perry’s official Youtube Channel named “Let it Burn” and had set a new record by burning 1 billion SHIB in just a single transaction.

1CENT BURN EVENTS:

1Cent is also a new token showing solidarity with the Shiba Inu Community and aims to reduce Shiba Inu’s total circulation supply (SHIB).

Three weeks or 21 days since the token launch, 1Cent has reportedly destroyed a whopping 1,004,717,957 (1.0B) SHIB.



Travis Johnson’s Bricks Buster Game BURN EVENT:

Besides these tokens, Travis Johnson’s Bricks Buster game has taken out 595,232,837 (595M) SHIB tokens worth $13,118 from circulation forever on 17th March 2022 via the planned SHIB Burn Event.

Impact on SHIB Price:

As per data provided by CoinGecko, Shiba Inu’s price is experiencing a slight downfall of over 6% for the month; however, shown satisfactory performance in the past 14 days and is up 13.8%. Considering the seven days, SHIB’s price is currently up 2.7% for the week.

At the time of writing, Shiba Inu’s price is trading at $0.00002510, down over 9% over the last day, with a 24-hour trading volume of $1,270,566,697 ($1.27B).

Ripple Unlocks Over 1 billion XRP Worth $800 Million From Escrow Account, As Price Plummets 4.4%

Mark Brennan
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Ripple Unlocks Over 1 billion XRP Worth $800 Million From Escrow Account, As Price Plummets 4.4%

More XRP was released from Ripple’s escrow account, causing its price to slump. 



Today, famous blockchain company Ripple Labs has released a whopping 1 billion XRP from its escrow wallet. The 1 billion XRP was unlocked from escrow in two separate transactions, representing 500 million XRP for each transaction. 

 

WhaleStats, a blockchain company that tracks the movements of large crypto funds, disclosed the development on Twitter moments after the transactions were completed. 

According to the blockchain details of each transaction as reported by WhaleStats, the XRP funds, unlocked in the early hours of today, were worth around $811.39 million. 

The recently unlocked XRP harmed the price of the cryptocurrency. Per data on Coingecko, the token is down 4.4% from its yesterday price, as it is now changing hands at $0.82 at the time of writing. 

While the dip in XRP price cannot be entirely blamed on the recently unlocked Ripple coins, by the law of demand and supply, more volume of XRP in circulation could result in a decline in its value. 

Contrary to the method of token allocation of most cryptocurrency projects, the vast majority of XRP is controlled by Ripple Labs. 

To convince investors that it would not dump the coins on them, thus causing its price to crash significantly, the Ripple team agreed that it would hold 55% of the 100 billion XRP total supply in escrow. 

At the end of the 2017 bull market, Ripple announced that it would be releasing the XRP held in the escrow accounts for 55 months. 

To further manage the price of XRP from any negative impact, the company usually returns a significant amount of the funds to the escrow wallet. 

It is not clear whether the team will return most newly released funds to the wallet at press time. 

The Ripple team is trying to do everything within its power to keep the XRP price afloat, especially now that the blockchain company is still undergoing a legal battle with the Securities and Exchange Commission (SEC). 

Galaxy Digital CEO Makes Favorable Predictions for Bitcoin (BTC) Despite Slight Pullback 

Lele Jima
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Galaxy Digital CEO Makes Favorable Predictions for Bitcoin (BTC) Despite Slight Pullback 

Bitcoin proponent Novogratz said Bitcoin would end the year at a significantly higher price. 



Mike Novogratz, the CEO of Galaxy Digital Holdings, has made positive end-of-year predictions for Bitcoin (BTC). 

“It wouldn’t surprise me to see crypto significantly higher by the end of the year,” the billionaire cryptocurrency investor made the assertion today during Galaxy’s earning call as published by Bloomberg.  

Novogratz stated that following the widespread adoption of the world’s largest cryptocurrency, the surging volume of trades, and the innovative tech he has seen so far, he is now more constructive about the crypto market than he has been in previous years. 

“Given the adoption cycle I’m seeing, given the way markets trade, and how I see new people wanting to get in, the innovation we’re seeing in web3 and the metaverse space, I’ve gotten more constructive than I was at the beginning of the year,” Novogratz added. 

While the Galaxy Digital boss did not put a particular price for the top asset class in his latest prediction, Novogratz already noted previously that Bitcoin could rise as high as $50,000 for the year. 

Meanwhile, Bitcoin, which looked set to reclaim the $50,000 price level in the previous days, has fallen 2.9% in the last 24 hours. 

At press time, Bitcoin is changing hands at $45,891, down by 33.6% from its all-time high (ATH) of $69,044. 

Novogratz is among the billionaire Bitcoin investors who have continued to show faith in the world’s largest cryptocurrency. 

Earlier this year, Novogratz made a $1 million bet with popular gold proponent Peter Schiff, in favor of Bitcoin trading above $35,000 as opposed to the negative predictions from the traditional financial investor. 

Novogratz said the $1 million will be sent to any charity of their choice when BTC price falls below $35,000 by year-end. 

How Could the NFT Drop of the World’s First P2E NFT Cricket Game Impact the Gaming Industry?

Albert Brown
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How Could the NFT Drop of the World’s First P2E NFT Cricket Game Impact the Gaming Industry?

The gaming industry has been around since the 1970s (well, if you do not include poker as a game). Ralph Baer, the German-American engineer might not have thought that his video gaming console might pave the road to a standalone industry gathering millions of dollars each year. Since then, gaming has come a long way, both in terms of technology and entertainment given. Not until recently did video games were considered a waste of time, and even useless as a hobby, according to some skeptics.

But, as newer technologies got adopted into video games, the prospect of earning through playing games became a reality. Before that, all the money that a user devotes in playing a game was just a one-way transaction, with rewards that could not be traded inside/outside of the game. But, as blockchain technology flapped its wings all across the existing technologies, it did not miss gaming, and now, gamers can earn money playing games. Non-fungible tokens (NFTs) have enabled this branch for the gaming world, and soon, the branch could become a tree on its own.

These games have earned massive acceptance among people, primarily because of the global pandemic that paused the world for a long time. With no employment or not enough money from existing work, people in developing regions started playing these blockchain-based P2E games. Some people even left their full-time roles to play these games as the earnings are high. In this blog, we will see more about an upcoming NFT drop of the world’s first NFT cricket game and also about the possible impact that the drop event might have on today’s gaming industry.

How Much Informed Are We on the New NFT Cricket Game?

So far, only a little information is known about the upcoming NFT cricket game, which serves as the primary factor behind all the expectations. We have before us an official announcement on popular news websites, the official marketplace website, and an NFT drop scheduled to be held during mid-April on the marketplace. The marketplace portal is called Jump.trade, and the NFT drop event is named Super Loot. The game itself is called Meta Cricket League, and all these are powered by GuardianLink, which works on developing various NFT applications. The Jump.trade website has an actively ticking countdown, along with more information that could be deciphered to know about the NFT cricket game.

How Could the Drop Shape the Destiny of the Gaming Industry?

If you are a nerdy gamer and have come across the Super Loot drop event on your social media feeds, you are not alone. In fact, social media platforms are flooded with posts explaining and talking about the drop event. You might have even wondered how a single drop event shapes the way gaming is perceived around the globe, as there are new gaming platforms coming up almost every week.

The specialty of the upcoming drop, if it stands true to the information conveyed in the official announcement, is that the NFT items present in the Super Loot event would be useful for cricket fans, professional gamers, and NFT collectors. Satisfying such a wide and almost unrelated niche of audiences is a tough hill to climb, and with this drop event, that might change for the good.

The first point that comes to anyone’s mind is that the drop is the base for the world’s first NFT cricket game. With cricket becoming a global sport in recent years and the inclusion of the sport in the 2028 Olympics nearing certainty, it would not be wrong to say that the game would attract users from all over the world, particularly in the cricket-geek regions in South Asia and the Caribbean.

The next thing is that it would create more opportunities for passive income for people who always look for those extra bucks. The game is projected to host an ecosystem similar to that of Axie Infinity’s, which is transparent from the official statement, which states that creating an entire metaverse for cricket is on the cards. This means gaming would become a respectable profession, apart from a hobby, which would make people have a wider spectrum of career choices, irrespective of their education levels. In the case of this NFT cricket game, it would be just enough for an individual to know about operating a smartphone, the rules of cricket, and the ability to read and understand the play-to-earn regulations.

Another useful point worth mentioning here is that such a play-to-earn game would do away with the gamers’ worries of spending so much for sheer entertainment, and the expenses could never be redeemed. In fact, the one-way nature of the yesteryear gaming transactions has been a major reason behind piracy concerns that had even resulted in major game studio firms such as Electronic Arts (EA) moving away from cricket. Such second thoughts about spending big money on video games, particularly in developing countries, is a huge concern, which could be addressed better by a P2E NFT cricket game.

Some Final Thoughts

Hence, the upcoming cricket NFT game Jump.trade holds a lot of promise to gaming, NFT, and cricket on-lookers, leaving aside enthusiasts. The above points might have elaborately conveyed it all on how the drop event could have a long-standing effect on the gaming industry. It is even expected that the Super Loot drop event might start ringing the bell for the end of the current gaming perspective and make play-to-earn mainstream along with providing free gaming with limited features. The revenues would not suffer either, since it has been estimated that P2E gaming in the future could amass more users than today, not to forget revenues generated through ads on both P2E and free versions. Therefore, a two-way traffic system in the gaming domain with an NFT cricket game could be the perfect kickstart for changing the perspective in which video games are viewed in the future.

Strong Shiba Inu Accumulation Not Stopping: ETH Whale Ranked 20 Just Splashes Over $1.5M on 58.6B Shiba Inu

Albert Brown
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Strong Shiba Inu Accumulation Not Stopping: ETH Whale Ranked 20 Just Splashes Over $1.5M on 58.6B Shiba Inu

Ethereum whale addresses continue accumulating Shiba Inu: Overall Whales Accumulate 681 SHIB In Two Days.


Strong Shiba Inu Accumulation Not Stopping: ETH Whale Ranked 20 Just Bought 58B Shib, Overall Whales Accumulate 681 SHIB In Two Days

An Ethereum (ETH) whale has just made a massive purchase of popular dog-themed cryptocurrency Shiba Inu (SHIB). 

WhaleStats reports today that the Ethereum whale spent more than $1.5 million in purchasing over 58.6 billion SHIBs. 

According to the data, a total of 58,624,985,970 Shiba Inu were bought for the sum of $1,579,357. Interestingly, despite spending a whopping $1.5 million in purchasing the coins, the trader spent a meager $16 in transaction fees.  

The recent development marks a growing adoption among whale investors, who have always taken advantage of the market to accumulate the dog-themed cryptocurrency. 

As reported yesterday, top Ethereum addresses purchased a combined 622 billion units of SHIB worth around $16.72 million within a space of 24 hours. 

The groundbreaking purchase came a few hours after Shiba Inu was ranked the second-most valuable cryptocurrency held by the top 500 Ethereum addresses. 

 

This current accumulation started when, “Gimli,” first accumulated 421,370,420,624 (421.37B) SHIB worth $11.3 million in two transactions yesterday. Following Gimli, the 167th number whale accumulated the same number of SHIB as that of Gimli 150.0B shib, worth $4,053,000 (4.05M), and then the 16th biggest whale of ETH purchased a total of 50,687,552,959 (50.68B) SHIB, worth $1,360,960 ($1.36M) yesterday.

Today 19th Biggest ETH Whale Bought 47B Shiba Inu.

In total up till now, over 681 SHIB tokens worth $18.62 million had been accumulated by top Ethereum (ETH) whales since yesterday.

The growing adoption of SHIB by whales does not seem like it will be stopping anytime soon given the fact that the project’s team keeps rolling out interesting initiatives for the Shiba Inu ecosystem to make the coin appealing to prospective investors. 

Yesterday, developers of the project announced the launch of 100,597 plots of land in SHIB: The Metaverse, with the Shiba Inu token, tipped as a means that will enable landowners to rename their acquired plots.

Shiba Inu (SHIB) manages to reclaim back a $15 billion market cap due to the massive accumulation of whales. The SHIB is currently trading for $0.00002629, up 8% over the last seven days.

Ukraine’s Largest Crypto Exchange Founder Discloses How Crypto Is “Saving Lives” in the Country And Becoming New king Of Money

Mark Brennan
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Ukraine’s Largest Crypto Exchange Founder Discloses How Crypto Is “Saving Lives” in the Country And Becoming New king Of Money

The KUNA Exchange founder said the government chose crypto over fiat during the war because of its speed to confirm related transactions. 



Michael Chobanian, founder of Ukraine’s largest cryptocurrency exchange, KUNA, has disclosed the roles crypto has played for the country since the beginning of the Russian invasion.  

Speaking in a recent Bloomberg interview, Chobanian noted that he has been a crypto banker for the government since the invasion, and has been helping in several cryptocurrency initiatives, including fundraising and secure storage, as well as crypto-to-fiat exchange. 

Chobanian added that his job during the warfare also included opening new bank accounts for the government and identifying merchants who are willing to accept cryptocurrencies in exchange for humanitarian goods and war equipment to better aid the country’s Ministry of Defense. 

According to the founder of KUNA, Ukraine opted for cryptocurrency payments because of the speed it takes to settle transactions. 

“It takes 10 minutes for a Bitcoin block to close [average confirmation time for a Bitcoin payment]. And it takes about three days to do the same thing through the banking system,” Chobanian added. 

Chobanian, who is also regarded as the father of the Ukrainian cryptocurrency industry, said if the nation had opted for fiat, it would have taken approximately one day for the country to receive all donations in an account in U.S. dollars.  

An additional day will be spent by the banks in confirming the transactions on the SWIFT network to ensure the funds reach their final destinations. 

“So three days vs. 10 minutes—therefore, we prefer crypto. And you can understand that time is money for my country right now.” 

At the moment, saving a minute in whatever is done financially in Ukraine translates to saving someone’s life, Chobanian noted, adding: 

“We are trying to speed up the process and crypto is helping us here.” 

He said that crypto is the most valuable form of money in Ukraine and everyone wants crypto.

“Now the most valuable form of money in Ukraine is crypto. Everyone wants crypto because this is the fastest, the most flexible, easiest, and least bureaucratic way to store and spend your money. Crypto is the new king of money in Ukraine.”

Cryptocurrencies have played an integral part in supporting Ukraine’s resistance against Russian forces. The country has received tens of millions of dollars in crypto donations from concerned individuals and firms, including Ripple. 

Alex Bornyakov, Ukraine’s deputy minister for digital transformation, disclosed earlier this month that crypto donations have come in handy for purchasing necessary equipment like 5,500 bulletproof vests, night-vision goggles, 500 helmets, and medicine. 

Ukraine has received above $100 million in crypto donations, according to Alex Bornyakov, Ukraine’s deputy minister at the Ministry of Digital Transformation.

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