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Cardano Development Team Launches Hydra Heads on Public Cardano Testnet 

Mark Brennan
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Cardano Development Team Launches Hydra Heads on Public Cardano Testnet 

Cardano Development Team Launches Hydra Heads on Public Cardano Testnet.


 

The Cardano team has announced significant progress in developing the much-anticipated Hydra upgrade. 

In a screenshot shared today by Charles Hoskinson, the CEO and founder of Cardano, the team noted that it has successfully opened the first Hydra heads on the public Cardano testnet. 

“Today, almost one year after we read the Hydra whitepaper [for the] first time back-to-back, we opened the first Hydra Heads on the Public Cardano testnet. This should be the first, which saw the full init, commit, close, & fanout lifecycle,” Sebastian Nagel, a member of Cardano’s IOHK, said. 

Reacting to the development, the Cardano founder, who recently got into a heated debate with cryptocurrency journalist Laura Shin over his educational background, celebrated the milestone on his personal Twitter page, saying: 

“I’m extremely proud of the Hydra team for making this milestone. It’s one of the fastest and best pieces of applied research in the Cardano Ecosystem.” 

Hydra Upgrade Edges Closer to Launch 

The Hydra upgrade, a layer-2 scaling solution, has been anticipated by the Cardano community as it is tipped to enhance various aspects of the network. 

Interestingly, the upgrade will usher in parallel processing of transactions and smart contracts, similar to Ethereum’s sharding or parallel blockchains. 

The team at Cardano has made significant progress toward the development of Hydra, with the upgrade expected to be released later this year. 

In January 2022, the team released an end-to-end integration node for Hydra’s second pre-lease. Since its development, the Cardano team has added over 3,057 new commits to GitHub, a significant step toward progressing the Hydra launch. 

ADA to Record Gains After Hydra Launch

It is worth noting that upon the official launch of Hydra, Cardano (ADA) prices are tipped to surge, thus giving investors a reason to smile again. 

ADA has been underperforming recently, falling from around $1.3; it opened the year with and currently trading around $0.80. 

Despite the underperformance of ADA so far this year, the cryptocurrency is tipped to surge tremendously before year-end. 

 

Here is Why Bitcoin (BTC) Dropped From $41,551 to $39,300 in One Hour

Mark Brennan
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Here is Why Bitcoin (BTC) Dropped From $41,551 to $39,300 in One Hour

Why Bitcoin (BTC) Dropped suddenly From $41,551 to $39,300.



Bitcoin (BTC) recorded a sudden spike today, rallying as much as 5.7% to $41,691 amid expectations of the details from the meeting of the Federal Open Market Committee (FOMC) on interest rates hike. 

Unfortunately, the BTC rally was short-lived as the popular cryptocurrency plummeted below $40,000, the price level traded yesterday. 

At the time of writing, Bitcoin is currently trading around $39,400, as many traders seemed confused as to what may have prompted the sudden drop in value for the world’s largest digital currency. 

Confiscation of Russian Investments Prompts Fear

Following developments about the endless sanctions slammed on Russia, especially on citizens who have close affiliations with president Vladimir Putin, Russians fear that their offshore assets may be confiscated. 

The belief is that the confiscation of investments belonging to president Putin’s allies could be extended to Russian residents who have offshore investments.  

In recent times, global cryptocurrency exchanges have been urged to freeze cryptocurrency accounts belonging to Russian citizens, with many citing that the country could use the nascent asset class to evade global sanctions. 

Ukraine’s deputy prime minister Mykhailo Fedorov has been at the forefront of these calls. However, crypto exchanges have turned down these requests, saying the stringent measure goes against every doctrine of cryptocurrencies, which centers on financial freedom. 

Despite exchanges not bowing to pressure, cryptocurrency investors still fear a possible seizure of their assets in foreign countries. 

Per a recent report published by famous news outlet Reuters, Russian cryptocurrency investors have started liquidating their investments in the United Arab Emirates as they continue to seek safe havens for their fortunes. 

“We have one guy – I don’t know who he is, but he came through a broker – and they’re like, ‘We want to sell 125,000 bitcoin.’ And I’m like, ‘What? That’s $6 billion, guys’. And they’re like, ‘Yeah, we’re going to send it to a company in Australia,'” a cryptocurrency executive told Reuters in an exclusive interview. 

Famous media reporter Wu blockchain says Russian billionaires are selling and buying bitcoin in large quantities in Dubai, causing the sudden BTC price movements.

Bitcoin unexpectedly broke through $41,000, causing the liquidation amount close to $70 million in one hour.

It does not seem like Russians will be stopping anytime soon, and they may continue to seek liquidation for their foreign investments, thus affecting cryptocurrency prices. 

Shiba Inu Smashes Dogecoin and Dogelon Mars (Elon) In Gemini Twitter Poll

Zabi
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Shiba Inu Smashes Dogecoin and Dogelon Mars (Elon) In Gemini Twitter Poll

In Gemini’s recently organized Twitter poll, Shiba Inu’s army smashes Dogecoin (DOGE) and Dogelon Mars (ELON).



Gemini, a popular cryptocurrency exchange known for its advanced security features and a unique suite of cryptocurrency products, recently organized a voting poll between popular canine-themed meme cryptocurrencies, i.e., DOGE, ELON, and SHIB.

Gemini asked its 399.6K followers, “What’s your favorite dog-themed token?”

Shiba Inu Community demonstrated their power during the Poll and cast their votes aggressively in favor of the Shiba Inu token.

According to the final result, a total of 14,657 votes were cast, out of which 77.5% of people chose Shiba Inu as their favorite dog-themed token.  The competition ended one-sided as DOGE and ELON managed to get only 10.3% and 12.3% of the total voting share.

Usually, top exchanges like Gemini organize voting polls for engagement purposes and accessing community trends.

This poll was part three of a series of votes held by Gemini. In the first round of the Twitter poll, there was a competition between Ethereum (ETH) and Solana (SOL). Ethereum won the first round of Poll. A total of 5,837 votes were cast, out of which ETH grabbed 53.8% of the share.

The second round of competition was between MANA and SAND. SAND won the second round, but the contest remained tough as SAND managed to take 37.9% of the votes, while MANA grabbed 31.5% of the total casted vote share.

Gemini listed the Shiba Inu token on its platform on Nov. 12, 2021.

Ripple Proposes Regulatory Clarity in South Korea’s Crypto Distinction, Donates $500,000 in XRP To Ukraine

Mark Brennan
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Ripple Proposes Regulatory Clarity in South Korea’s Crypto Distinction, Donates $500,000 in XRP To Ukraine

Ripple Proposes Regulatory Clarity in South Korea’s Crypto Distinction, Donates $500,000 in XRP To Kyiv.



Fintech company Ripple is requesting that the South Korean financial watchdog establish clearer regulations that will help distinguish cryptocurrencies between utility tokens, payment tokens, and security tokens. 

The policy paper was written in partnership with Oxford Metrica and GBC Korea.

In a policy paper recommendation, Ripple noted that South Korea’s current virtual regulation is broad, covering digital currency with economic value that can be traded digitally. 

Ripple also discussed the possibility of using its technology RippleNET to foster digital asset innovations in regulated environments. 

Rahul Advani, policy director at Ripple, said in the paper:

“We believe the policy recommendations outlined in this paper strike the right balance between providing regulatory clarity while having a regulatory framework that’s forward-looking and flexible.” 

Plans to Avoid Another SEC Drama

Understandably, Ripple is trying to avoid some of the issues it is having with the United States Securities and Exchange Commission (SEC), which charged the blockchain company in December 2020 for breaching its securities law. 

The SEC lawsuit has recorded several twists since it began, with the case expected to end before November 18, 2022. 

Ripple Makes XRP Donations to Ukraine

Meanwhile, despite Ripple’s ongoing legal battle with the securities agency, the fintech company has continued to throw its weight behind Ukraine, which is still under attack by Russian forces. 

Despite supporting various humanitarian agencies helping Ukraine citizens to ameliorate the negative impact of the war with the sum of $1 million this month, Ripple has also donated $500,000 in XRP to the Kyiv School of Economics to provide food and medicine to Ukrainians in need.

 

Korea’s Cryptocurrency Regulation

South Korea is one of the countries that has established regulations for digital currencies within its jurisdiction. 

Some of the efforts by the Korean government on the country’s digital currency include a strict anti-money laundering law, requiring cryptocurrency investors to supply several personal information in line with the Know-Your-Customer (KYC) requirements. 

Since 2020, the government has made moves to levy a whopping 20% tax on cryptocurrency gains. However, the initiative was postponed late last year, as the ruling government at the time tried to solicit votes from millennial crypto traders. 

Following the widespread adoption of cryptocurrencies in Korea, citizens of the country successfully voted in a crypto-friendly president Yoon Suk-yeol. 

President Suk-yeol disclosed that his administration is working round the clock to establish a new crypto regulatory framework that will foster growth in the industry while protecting investors. 

Whale Holding 4 Trillion Shiba Inu Bought Additional 50.7 Billion Shib For $1.1M

Zabi
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Whale Holding 4 Trillion Shiba Inu Bought Additional 50.7 Billion Shib For $1.1M

The top ETH whale has grabbed over 50 billion Shiba Inu (SHIB) tokens a few hours ago.



As per data provided by WhaleStas, the 15th biggest whale of Ethereum has accumulated 50,736,574,302 (5.7B) SHIB tokens, valued at $1,106,564 ($1.1M)  in one large transaction attempted a few hours ago.

The details of the transactions are shown below:

whale buying shib
image source: etherscan

 

Looking deep into Whale’s wallet, we found that the Shiba Inu token is his 6th biggest token position by dollar value. This whale currently holds 4.4 trillion Shiba Inu tokens valued at $95,543,632 ($95M). The average holding price per SHIB token for the whale appears to be $0.0000217.

shib holding 4.4 T
image source: etherscan

As per data provided by CoinGecko, SHIB’s price is -28.5% down from the last 30 days, and Ethereum Whales seem to take advantage of these low prices.

Similar to this massive transaction, one whale accumulated 49,651,432,412 (49.5B) SHIB tokens, for $1,094,317 USD on Monday. In this way, during the last 72 hours, a total of 100,388,006,714 (100B) SHIB tokens worth $2,200,881 (2.2M) have been accumulated in two massive transactions carried by top Ethereum whales.

At the time of writing, Shiba Inu’s price is trading at $0.00002171, showing almost no change for the day, with a 24-hour trading volume of $489,332,780.

What Impact Shiba Inu Entry In Fashion Industry Would Have On Shib Ecosystem

Mark Brennan
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What Impact Shiba Inu Entry In Fashion Industry Would Have On Shib Ecosystem

Recently Shiba Inu Partners Fashion Brand to Develop 10,000 Clothing Non-Fungible Tokens (NFTs).



In another line of development, in a bid to prove its cryptocurrency project is not a meme coin Shiba Inu, the popular dog-themed project, has partnered with John Richmond to develop 10,000 units of clothing non-fungible tokens (NFTs). 

Per a recent announcement, the 10,000 fashion digital collectible will also have a wearable capsule connected to it. 

 

The non-fungible tokens, according to the announcement, will be presented to the world at the Richmond Fashion show during the 2022 Milan Fashion Week in September this year. Moreover, the collection will be available to buy in all the Richmond flagship stores worldwide and all of its retailers. 

An after-party will be held exclusive to members of the SHIBArmy and SHIB holders, at a secret theme and location expected to be announced in the coming months.

More Adoption for Shiba Inu

Following the initiative, a new set of enthusiasts from the fashion industry will be onboarded into the SHIB ecosystem from the fashion world, leading to widespread adoption of the cryptocurrency, popularly described as the Dogecoin killer. 

Interestingly, with the event tipped to go down at 2022 Milan Fashion Week, top-class models could showcase some NFTs, thus boosting Shiba Inu’s popularity globally. 

Shiba Inu NFT Project

It is worth noting that this is not the first time the Shiba Inu team will be developing a non-fungible token project. 

Last year, Shiba Inu officially unveiled its first-ever NFT dubbed Shiboshi, an initiative that has gained traction across popular marketplaces, including OpenSea. 

 

AMC Entertainment Invests $27.9 Million in Gold Mine Instead of Bitcoin

Mark Brennan
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AMC Entertainment Invests $27.9 Million in Gold Mine Instead of Bitcoin

AMC Entertainment Invests $27.9 Million in Gold Mine.



After luring cryptocurrency enthusiasts to purchase several units of its stock via the offering of Bitcoin and Dogecoin payments, AMC Entertainment, a popular American movie theater, has used a significant percentage of its profit to acquire a stake in a gold mine. 

Details of the Investment

According to a report on Barrons, the movie theater bought a 22% stake in Hycroft Mining Holding, including its 71,000 acres gold and silver mine located in northern Nevada. 

The deal, worth around $27.9 million, saw AMC purchase a unit of Hycroft shares for $1.193. 

“To state the obvious, one would not normally think that a movie theater company’s core competency includes gold or silver mining,” Adam Aron, AMC CEO, said. 

A Pleasurable Moment for Peter Schiff

In what seemed like pleasant news to popular Bitcoin critic Peter Schiff, once again took a subtle shade at the world’s largest cryptocurrency, saying: 

“After trying to su.ker crypto investors into buying their overpriced stock by announcing they would accept Bitcoin payments for popcorn, AMC executives decided to use the money raised by selling stock to buy a gold mine rather than Bitcoin!” 

Interesting comments came from the Twitter community, like Greg saying “Adam shouldn’t you be mining Dogecoin instead of gold?”

 

AMC’s Initial Support for BTC

Recall that AMC Entertainment was considered a Bitcoin-friendly institution after the company announced it would be accepting cryptocurrency payments for the purchase of movie tickets as well as other merchandise. 

The company later added Dogecoin and Shiba Inu to its list of crypto payment options. AMC’s friendly gestures toward cryptocurrencies prompted many enthusiasts to purchase its meme stock. 

However, while crypto investors believe AMC will declare more support for cryptocurrencies, the company has made a u-turn in favor of gold, an asset class that has largely been compared to BTC since the peak of the coronavirus pandemic in 2020. 

 

Canadian Internet Service Provider Oxio Now Accepts Bitcoin and Ethereum Payments 

Albert Brown
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Canadian Internet Service Provider Oxio Now Accepts Bitcoin and Ethereum Payments 

Canadian Internet Service Provider Now Accepts Bitcoin and Ethereum.


 

According to an announcement made by the company in a press release today, Canadian-based internet service provider Oxio has partnered with Coinbase Commerce to accept bill payments in six different cryptocurrencies, including Bitcoin (BTC). 

Oxio noted in the announcement that following the massive interest in digital currencies among Canadian residents, it has decided to integrate cryptocurrencies, such as BTC, Litecoin (LTC), Ethereum (ETH), USD coin (USDC), bitcoin cash (BCH), and Dai (DAI), as payment methods. 

“We’re always looking for ways to go above and beyond for our customers, and providing a variety of payment methods is one way we can do that. We started by accepting credit cards, then direct withdrawals from our customer’s bank accounts, and now cryptocurrency,” Oxio said in the announcement. 

Commenting on the development, Marc-André Campagna, CEO & Co-Founder at Oxio, said with Oxio regarded as the first Canadian-based independent internet service provider, it was obvious that it would at some point integrate a payment method developed for internet enthusiasts, adding:  

“This initiative will allow Oxio to lead the charge by offering a crypto-friendly alternative in the connectivity space,” Campagna added. 

Notably, paying with cryptocurrencies has been made easy for everyone. All that is required for users is to select Coinbase Commerce as a payment option directly from their Oxio online customer in order to pay their internet bills. 

Growing Adoption of Cryptocurrencies

Cryptocurrencies have become popular over the past few years, with many people flocking to the industry. Per a recent survey conducted by Finder, a total of 31.68% of millennials declared that they have at some point bought cryptocurrencies. 

Lately, online merchants have been left with no option but to accept cryptocurrency payments for their merchandise or services, as not doing so could lead to a major loss of clients. 

As reported, companies like AMC Entertainment, and Tesla, among others, have openly declared that their clients can now make payments in crypto. 

Polygon Breaks in Top 3 Most Used Chains As Per Active Addresses

Mark Brennan
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Polygon Breaks in Top 3 Most Used Chains As Per Active Addresses

Active Addresses Show That Polygon is Now Among The Top 3 Blockchain Networks.



There are indications that the Polygon blockchain has broken into the top three. This was shown by blockchain data on Nansen.

polygon active addresses

The data shows that Polygon is hosting some of the most active addresses in the past 7 days. The data shows that the network is now among the three most active blockchains. This is an indication of the high demand that users and developers have placed on the network.

Analysis from the chart shows that only two other blockchains, the Binance Smart Chain and Ethereum have more active addresses than Polygon.

Other blockchains that are in the top league in terms of high activity are Ronin, Avalanche, and Fantom, which are in the fourth, fifth, and sixth positions respectively.

What can be observed from the data provided by Nansen is that the Binance Smart Chain has been the most active in the past 7 days with 3.44 million active users.

Ethereum, the second most active blockchain has 2.29 million active wallets that had transactions in or out of them in the past 7 days. Polygon, the third most active blockchain, had 977,000 active wallets in the same period of 7 days.

Observing the trend are saying that the Polygon network may be a game-changer in the industry. The popularity of the chain has not surprised many users considering that it is a low fee network that has saved users millions of dollars in gas fees.

The Nansen data, which was updated on March 14, shows that blockchains such as little-known Arbitrum, Celo, and Optimism have more activities on them. Arbitrum had 46,400 transactions, while Celo and Optimism had 32,500 and 12,400 transactions in the past 7 days.

Mark Cuban Reiterates Support for Dogecoin (DOGE), Says No To Shiba Inu

Albert Brown
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Mark Cuban Reiterates Support for Dogecoin (DOGE), Says No To Shiba Inu

Mark Cuban Reiterates Support for Dogecoin (DOGE), Says He Does Not Own Shiba Inu (SHIB).



Billionaire investor and Dallas Mavericks owner Mark Cuban has remained bullish on Dogecoin (DOGE) as the cryptocurrency continues to remain popular among enthusiasts. 

Cuban gave the response after the NBA game held on Sunday, March 13, 2022, between the Mavericks and Celtics

In a recent video, Cuban reiterated his support for the first meme cryptocurrency, Dogecoin, which made its debut in 2013. 

According to the video, someone in the crowd quizzed the Dallas Mavericks owner on whether he has invested in Shiba Inu (SHIB), the dog-themed cryptocurrency considered by its community to be the Dogecoin killer. 

“Are You In On Shiba?” Cuban responded ‘NO’ by moving his head in disagreement and said “Dogecoin is where it is at,” which is at the Dallas Mavericks. 

Cuban Favors Dogecoin

It is worth noting that Cuban has been a long-time investor of Dogecoin and he has made this knowledge public on several occasions. 

Last year, Cuban took his love for Dogecoin to another level by integrating DOGE as a payment method for the purchase of game tickets and merchandise of the Dallas Mavericks. 

The American basketball team was able to accept DOGE through a partnership with Bitpay, a cryptocurrency payment service provider. 

In May 2021, Cuban said that he and his 12-year-old son owned 3,250 DOGE in an interview. He also noted that he receives DOGE inflows from the sale of tickets and online merchandise using cryptocurrency. 

Close Rivalry Between DOGE and SHIB

Cuban’s comment may not seem pleasurable to Shiba Inu enthusiasts as the project is in stiff competition with Dogecoin. 

With Dogecoin regarded as the first meme coin to ever go live in the industry, Shiba Inu has been working relentlessly to disassociate itself from that title by launching significant projects, including a non-fungible token, play-to-earn game, among others. 

Shiba Inu has followed Dogecoin closely in the Coingecko cryptocurrency rankings. Dogecoin is in the 13th position with a market capitalization of $14.8 billion while Shiba Inu is ranked as the 15th largest cryptocurrency with a market cap of $11.8 billion. 

 

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