Home Blog Page 2445

436.36 Million Shiba Inu Burned In Last 7 Days; Burn Rate Increases 286% Compared To Previous Week

Zabi
-
0
436.36 Million Shiba Inu Burned In Last 7 Days; Burn Rate Increases 286% Compared To Previous Week

436.36 Million Shiba Inu (SHIB) Tokens Gone Forever Within Last 7 Days; Burn Rate Increases Whopping 286% Compared to Previous Week.



Over 436.36 Million Shiba Inu (SHIB) tokens have been taken out of circulation forever within the last seven days, and 19.46 Million tokens burnt within the previous 24 hours.

Recently, the official Twitter handle of Shibburn reported that a total of 436,364,849 (436M) Shiba Inu tokens had been sent to the dead wallet by the Shib Army, with the help of eighty transactions.

 

This means the burning rate increased whopping 286% this week compared to last week’s burn of 152,439,298 (152M) SHIB tokens. The data indicate that more and more community projects are coming in to burn Shiba Inu tokens day after day.

On the other hand, the same source reported 19,464,019 (19.4M) Shiba Inu tokens with 11 transactions burned within the last 24 hours, that is, March 6th, up 9.86% compared to the previous day’s (March 5th) burn of 17,723,856 SHIB tokens (17.7M) in 13 transactions.

So far, a total of 410,303,727,377,104 SHIB tokens have been taken out of circulation forever from the initial supply of 1 quadrillion. In contrast, 36,897,845,252,681 tokens have been staked by holders on Shibaswap, as per data provided by Shibburn.com.

In this way, the current SHIB’s total circulating supply comes out to be 552,798,406,041,419 tokens.

Shiba Inu token is poised to reach its new all-time high (ATH) if the burning momentum keeps building and shib ecosystem keeps on growing at the same pace increasing the shib demand while burning to decrease the supply over time.

Shiba Inu has registered its previous all-time high (ATH) price of $0.00008845 on October 28, 2021 (4 months ago). At the time of writing, Shiba Inu is trading at $0.00002325, down 3.86% for the day and -73.77% from its all-time high (ATH) price.

Whale Buying Shiba Inu Dip, Top 1000 ETH Wallets On Average Accumulates 647M Shib Coins In 24 Hours

Mark Brennan
-
0
Whale Buying Shiba Inu Dip, Top 1000 ETH Wallets On Average Accumulates 647M Shib Coins In 24 Hours

Whale Traders are purchasing 647.4 Million Shiba Inu Tokens in 24 Hours on average as they are not missing the dip.



While smaller traders are scared of the massive price fluctuation of Shiba Inu (SHIB), whale traders have continued to display their confidence in the asset class by buying the cryptocurrency whenever there is a price dip.  

The recent market dip has again presented an opportunity for the top 1,000 Ethereum addresses to continue their accumulation spree of Shiba Inu.  

Whale Stats, an on-chain crypto data provider, reports that the top 1,000 Ethereum addresses have accumulated a combined 647,408,355 SHIBs (647M) in the last 24 hours. 

 

Shiba Inu, which peaked at around $0.00002523 yesterday, has fallen to a low of $0.00002324 in the last 24 hours, which presented an opportunity for whale traders to accumulate the popular dog-themed cryptocurrency. 

The development marks the latest accumulation spree by whale traders. Since the beginning of the year, traders have been accumulating cryptocurrency at every slight opportunity presented by the market. 

Two Ethereum whale traders purchased a combined 885.27 billion Shiba Inu tokens earlier this month. 

Shiba Inu is not the only cryptocurrency primarily purchased yesterday following the dip, according to Whale Stats. Per the data, the top 1,000 Ethereum addresses also purchased various stablecoins, Ethereum (ETH), Verasity (VRA), Convex Finance (CVX), PolyBull Finance (BULL), etc. 

Today Shib also became Shib’s 5th Most Mentioned Crypto on Twitter.

Over 60 Decentralized Finance Projects Are Preparing To Launch on Cardano 

Albert Brown
-
0
Over 60 Decentralized Finance Projects Are Preparing To Launch on Cardano 

Following the support of Cardano’s smart contract functionality last year, it is expected that several decentralized finance (DeFi) protocols will be deployed on the network. 



According to data on the BuiltOnCardano website, the number of decentralized finance-related projects being built on Cardano has surged tremendously.

The Cardano network is being considered by developers ahead of rival blockchains such as Ethereum and Solana, which have suffered from consistent network congestion on several occasions. 

Defi Projects:

Some of the top projects include:

Marlowe: A special-purpose language designed to allow anyone to write and execute P2P financial contracts on any blockchain.

Cardano DeFi Alliance: A consortium of DeFi projects with the goal of standardizing Plutus and Cardano best practices within the DeFi world.

Empowa: Decentralized, green property development platform targeting the African market. Harnessing the power of the global community to empower people on the ground.

Theos: A decentralized, NFT based economy utilizing the intrinsic properties of NFTs to provide instant valuations and transform them into instant liquidity.

Kick: A decentralized fundraising launchpad and project accelerator where token holders can earn rewards for endorsing projects.

26 Decentralized Exchanges Building On Cardano

Per the data, there are currently 61 DeFi projects, which include 26 decentralized exchanges (DEXs) that are being built on Cardano at the moment. 

Some of the decentralized exchanges being built on Cardano include ADA Finance, Ray Network, Occam.Fi, YaySwap, Cardax, Matrixswap, and Meowswap. 

While a total of 26 decentralized exchanges are still building to officially make their debut on the Cardano network, it is worth noting that six DEXs had initially launched on the blockchain.

SundaeSwap became the first-ever decentralized exchange to fully launch on Cardano after supporting smart contract functionality. 

News of SundaeSwap’s launch sparked excitement among Cardano enthusiasts as they hurried to begin using the platform. 

Although SundaeSwap experienced a slight glitch in the early hours of its debut, the issue was resolved almost immediately, reigniting interest from other DEXs. 

As of press time, there are currently six decentralized exchanges that are live on Cardano, including ADAX Pro, MuesliSwap, VyFinance, Meld, and Minswap. 

SundaeSwap’s Dominance

Of all six decentralized exchanges on the network, Cardano enthusiasts seem more comfortable with SundaeSwap, as the trading platform has the highest total value locked (TVL) in USD. 

Cardano TVL, which peaked at $13.86 million a few days ago, is currently worth $120 million, with 98.5% of the value ($118.57 million) locked on SundaeSwap.   

Cardano’s TVL is expected to surge exponentially as more decentralized exchanges continue to launch on the network. 

Investors’ Confidence in ADA Increase

Meanwhile, the consistent deployment of decentralized exchanges on Cardano has not really reflected on the value of its native cryptocurrency, ADA. 

ADA, which started trading around $1.3 in January 2022 is currently changing hands below $1. Meanwhile, many investors are not bothered about the underperformance of ADA, as they still have high hopes that the cryptocurrency will outperform other digital currencies this year. 

With this firm belief, investors are accumulating the cryptocurrency below the less than $1 price level. 

Survey Shows Dogecoin Is Still The Third Most Favourite Choice Of US Citizens

Mark Brennan
-
0
Survey Shows Dogecoin Is Still The Third Most Favourite Choice Of US Citizens

Bitcoin, Ethereum, And Dogecoin are still prevalent in the US.



Cryptocurrency platform Bakkt conducted a study on the involvement of women in the cryptocurrency industry; in the study, analysts found that ETH, BTC, and DOGE remain the most popular coins in the US.

The ‘Women & Crypto’ survey polled 1,012 people in the US, conducted in February. Five hundred four respondents reported that they own cryptocurrencies, while 84% were men.  Women who have bought digital assets reported interest in the industry and intentions to continue investing in this area.

Coin purchasing data shows men have higher crypto engagement:

“Women and men own the same top 3 coins bitcoin, ether, and Dogecoin, but men are more likely to own a wider range of coins.”

The main reasons women give for refusing to invest in cryptocurrencies were a lack of knowledge about blockchain, a lack of understanding of the applicability of cryptocurrencies, and a shortage of extra funds for investment.

“Not understanding crypto remains a key barrier to women adopting crypto. Over 70% of Non-Crypto Owning Women rate their crypto knowledge as low or very low, compared to just 13% of Men Crypto Owners, and 22% of Women Crypto Owners.”

Interestingly, users often receive Bitcoin as part of loyalty programs.

“Respondents receive the Bitcoin as a gift, through loyalty programs. Such cases even exceed the popularity of traditional methods and provide an opportunity to join the cryptocurrency industry for everyone, regardless of income or gender,” said Nancy Gordon, director of loyalty programs at Bakkt.

Last year, a Pew Research Center survey showed that 86% of US adults “know something” about cryptocurrencies, and 16% of Americans invest in them.

 

Two Similar Bitcoin Price Charts Suggest Bitcoin Next Move As BTC Looking Similar To 2019 Bear Market Bottom

Mark Brennan
-
0
Two Similar Bitcoin Price Charts Suggest Bitcoin Next Move As BTC Looking Similar To 2019 Bear Market Bottom

Two Shocking Similar Bitcoin Price Charts Suggest BTC’s Next Move.



This weekend has not been the best for Bitcoin investors as the world’s largest cryptocurrency ended its quick surge where it rallied to nearly $45,000 amid rumors that Russia could be adopting the asset class to navigate sanctions. 

Bitcoin has once again resumed its downtrend below $40,000. Bitcoin’s recent price movement below the $40,000 price level has prompted many crypto analysts to give their views on the next move for the popular cryptocurrency.  

Interestingly, a famous Bitcoin enthusiast named BTCfuel shared a chart with shockingly similar patterns and trends of the asset’s current price performance, which matches the 2019 bear market bottom. 

 

Bitcoin Price Movement in 2019

In 2019, Bitcoin started trading around $3,900 and fluctuated majorly between $4,000 and $5,000, respectively, in the first four months. 

However, in May 2019, BTC surged to above $8,000 and subsequently hit $10,000 the following month. 

The cryptocurrency peaked at around $13,000 for the year in July, representing nearly 200% of its 2019 opening price.

BTC to Surge to $96,000 This Year?

A closer look at the chart suggests a bullish prediction for the cryptocurrency that could see it rally above $90,000. 

If the current Bitcoin pattern continues to match the 2019 bear market bottom, the cryptocurrency would, from the chart analysis, spike to $96,000 at some point this year.  

Per previous reports, several Bitcoin proponents, including El Salvador president Nayib Bukele, who is currently leading the country’s cryptocurrency adoption, have previously predicted that BTC would hit $100,000. 

Bitcoin Movement in 2022

Bitcoin (BTC), the largest cryptocurrency by market capitalization, has endured a terrible start to the year since it fell from an all-time high of $69,047 recorded on November 10, 2021. 

The cryptocurrency started the year around $47,000 and has fallen below $40,000 on several occasions due to several events that have unfolded so far. 

Bitcoin suffered its significant loss in late January when it dipped below $33,000 when reports surfaced that the Federal Reserve is planning to increase interest rates this month. 

While the asset class has endured a massive fluctuation above and below $40,000 in the past week, investors’ fears have continued to increase, with many being forced to convert their BTC holdings to stable coins. 

Meanwhile, addresses holding between 0.1 and 1 BTC have accumulated Bitcoin following its price dip.

Russia Blocks Facebook And Twitter

Mark Brennan
-
0
Russia Blocks Facebook And Twitter

Russia Blocks Facebook And Twitter.



On March 4, Roskomnadzor, or the Federal Service for Supervision of Communications, Information Technology, and Mass Media, is the Russian federal executive agency responsible for monitoring, controlling, and censoring Russian mass media blocked access to Facebook in the Russian Federation. The regulator’s restrictions also affected Twitter, writes Rkn.gov.

According to the Roskomnadzor, the reason for blocking Facebook was the social network’s restriction to access the accounts of several Russian media.

“Since October 2020, 26 cases of discrimination against Russian media and information resources by Facebook have been recorded.”

According to the publication, access to Twitter and Facebook was restricted based on Article 15.3 of the Federal Law of the Russian Federation, which provides measures to limit any media that promote:

  • the appeals to mass riots;
  • the appeals to extremist activities;
  • the appeals for participating in mass (public) events held in violation of the established order,
  • Unreliable socially significant information disseminated under the guise of reliable messages, which creates a threat of harming life and (or) the health of citizens property,  as well as the threat of mass public disorder or the threat to sabotage livelihood facilities, transport, or social infrastructure, credit institutions, energy facilities, industry or communications.

On March 4th, users from Russian people discovered their inability to access Meduza, BBC, Radio Liberty, Deutsche Welle publications, Facebook, the App Store, and Google Play.

Shiba Inu Entry In Fashion Industry Made Shib 5th Most Mentioned Crypto on Twitter

Zabi
-
0
Shiba Inu Entry In Fashion Industry Made Shib 5th Most Mentioned Crypto on Twitter

Shiba Inu (SHIB) Becomes the 5th Most Mentioned Cryptocurrency on Twitter This Week.



Shiba Inu is the 5th most mentioned cryptocurrency on Twitter this week, beating Dogecoin (DOGE) and Baby DogeCoin (BabyDoge) in fan engagements.

CryptoRank, the crypto market data aggregation & analytics platform, recently revealed a list of “Top Ten Coins Mentioned on Twitter this week.”

Looking into the list, we found that this week people loved to talk about Bitcoin (BTC), Ethereum (ETH), and PancakeSwap (CAKE) more often compared to other cryptocurrencies on Twitter. Bitcoin was mentioned a whopping 3.36 Million times by the Twitter community, while Ethereum and PancakeSwap were mentioned 806,761 and 447,662 times respectively.

The top mentioned list includes Shiba Inu, Dogecoin, and Baby DogeCoin. Shiba Inu received 344,631 mentions on the platform this week and is recognized as the 5th most mentioned cryptocurrency on Twitter. Dogecoin secures the 6th position with 316,195 mentions, and Baby DogeCoin secures the 7th position on the list with 240,729 mentions.

Shib becoming the fifth most mentioned crypto on Twitter is because the Shib team recently unveiled stepping into the fashion industry with ” John Richmond’s Italy-based brand.”

Shib massive partnership announcement was perfectly timed by the SHIB team and made public on February 28, 2022, which marks the final day of Italy’s fashion week and the first day of Paris Fashion Week.

Additionally, John Richmond recently released its Spring Summer Collection 2022 and will hold fashion shows across Italy, which will help Shiba Inu token gain massive exposure in no time.

SHIB and John Richmond will conduct fashion shows in Milan, Italy, and 10,000 Richmond and Shiba Inu NFTs will be released through this partnership. In addition, the clothing line could also be available in collections in boutiques worldwide.

Main Reasons Of $242 Million Positions, 68,255 Traders Liquidation, As Bitcoin Falls Below $40K, Ethereum Below $2700

Albert Brown
-
0
Main Reasons Of $242 Million Positions, 68,255 Traders Liquidation, As Bitcoin Falls Below $40K, Ethereum Below $2700

Bitcoin has fallen below $40K while Ethereum is trading below $2700.


$242 Million Positions, 68,255 Traders Liquidated As Bitcoin Falls Below $40K Amid Russia Attack Europe’s Largest Nuclear Power Plant.

We might see more intense bleeding if the King crypto cannot find support at $38K. The fresh downfall caused some severe trading positions liquidations. According to Coinglass data, $242 million positions were liquidated in the past 24 hours, of which $116M million in BTC and $45 million in ETH.

A liquidation occurs when an exchange forcibly closes a leveraged trader’s position as a safety mechanism due to the trader’s partial or total loss of the initial margin. This occurs primarily in futures trading, which only tracks asset prices instead of spot trading, where traders own tangible assets.

The fall in bitcoin prices has led to a sharp contraction in altcoin markets. More than 68,255 traders have been liquidated in the last 24 hours, with most losses coming from US trading hours. More than 87% of the liquidation was in long positions, futures contracts in which traders were betting on price increases. In total, $205M Long positions while 36M in short positions were washed out.

$69.1M of liquidations occurred on Cryptocurrency exchange OKEx, the highest among major exchanges, while traders on Binance suffered losses of $68.6 million.

Since the start of 2022, the crypto market has been unable to carry on the uptrend and has continually remained below the $2T market cap. As for now, the total market cap is way below $2T, currently sitting on $1.74T, according to Coinmarketcap.

If BTC cannot recover from the current fall, it will confirm the bearish trend to take the king of crypto retrace back to $30K.

Peter Schiff, while analyzing the Bitcoin chart, says:

“When Bitcoin breaks below the lower end of this channel, look out below. It will likely crash to the lower support line. Most HODLers who pledged Bitcoin as collateral for loans will be forced liquidated at prices much lower than what will prevail at the time margin calls are made.”

 

Crypto experts give Two main reasons for the Bitcoin and stock current fall: Russia attacked, caused a fire, and took over Europe’s largest nuclear power plant in Ukraine early Friday.

The recent US jobs data published by Yahoo finance shows Payrolls rise by 678,000 as the unemployment rate falls to 3.8%. A consistently improving labor market will help Federal Reserve to begin raising interest rates sooner than later. Head of Federal Reserve Powell said he would support a 25-basis point interest-rate hike in the Fed’s next meeting.

Dow, S&P, and Nasdaq futures dropped nearly 1%. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq were already tracking weekly declines. All three stock benchmarks fell Thursday, with Nasdaq leading the way lower with a nearly 1.6% retreat.

Bitcoin is again proving that it is highly correlated with the stock market.

 

Bitcoin (BTC) Currently at Key Support Level of $40,000 Where 662,000 Bitcoin Addresses Hold Nearly 880,000 BTC

Albert Brown
-
0
Bitcoin (BTC) Currently at Key Support Level of $40,000 Where 662,000 Bitcoin Addresses Hold Nearly 880,000 BTC

As the price of Bitcoin (BTC) falls below $41,000 today, there has been a growing adoption of the world’s largest cryptocurrency. 



According to data provided by IntoTheBlock, the aggregate balance of Bitcoin being held by addresses holding between 0.1 and 1 BTC has reached an all-time high of 780,00 units of Bitcoins. 

Per the report, the major part of the accumulation was observed among addresses holding between $4,000 and $40,000 worth of Bitcoin. 

“The group holding between $4,000 to $40,000 roughly worth of #Bitcoin was the fastest grower over the past month,” IntoTheBlock tweeted. 

 

The $40,000 price level is considered as major support for the cryptocurrency, as more than 662,000 Bitcoin addresses acquired nearly 880,000 BTC at that price. 

“If #Bitcoin fails to hold above such a crucial support zone, these addresses might be inclined to sell their holdings to avoid incurring significant losses,” popular cryptocurrency trader Ali Martinez said. 

 

Should Bitcoin fail to hold the $40,000 support and several traders are forced to sell, the price of BTC could dip below $39,000, which is also considered as another key support for the world’s largest cryptocurrency. 

 

Further data provided by Martinez shows that 58.65% of Binance Futures traders are net-long on Bitcoin, which could usher in a major dip in order to liquidate over leveraged traders. 

 

Bitcoin Falls Gold Rise, Peter Schiff Says Difference Between Gold And Fool’s Gold (BTC) Can’t Be More Clear

Mark Brennan
-
0
Bitcoin Falls Gold Rise, Peter Schiff Says Difference Between Gold And Fool’s Gold (BTC) Can’t Be More Clear

Bitcoin Falls Gold Rise Amid Ukraine Invasion, Peter Schiff Says Difference Between Gold And Fool’s Gold (BTC) Can’t Be More Clear.



Peter Schiff Slams Bitcoin Again, Calls It “Fools’ Gold”

Popular cryptocurrency critic Peter Schiff has once again slammed Bitcoin (BTC), calling the world’s largest cryptocurrency by market capitalization a fool’s gold. 

The American stockbroker made this known in a tweet today, following the slight rally of gold popularly referred to as the yellow metal, that saw it add $20 to its value, which helped the asset class to reach a 52-weeks high of over $1,960. 

“Gold is breaking out as Bitcoin is breaking down. Gold rose over $20 this morning, to a 52-week high of $1,960 per ounce, taking out the Ukraine invasion spiked high. Bitcoin on the other hand broke below $41k. The difference between gold and fool’s gold couldn’t be more clear,” Schiff said. 

 

Earlier today, gold reached a 52-weeks high of over $1,960, while Bitcoin is currently trading below $41,000, as reports of Russia’s adoption of the digital currency gradually faded away. 

Bitcoin v. Gold Comparison 

Since Bitcoin gained traction in 2017, several financial experts have weighed in to the debate to determine which of the asset classes is superior over the other. 

Schiff is among those who have championed the debate against BTC, as he has always been seen as a hater of the world’s largest cryptocurrency. 

Schiff Criticizing BTC

The Bitcoin critic has taken every opportunity to troll cryptocurrency enthusiasts on Twitter, asking people to rather invest in gold instead of putting their money on a financial instrument – BTC – that is destined to go down to zero. 

In January, Schiff criticized Bitcoin-friendly El Salvador president Nayib Bukele after announcing in January that he took advantage of the dip to add 410 BTC. 

Criticizing the president, Schiff said president Bukele should have used his private funds to invest in Bitcoin instead of using the country’s resources. 

In a recent report, Schiff’s son, who is a Bitcoin enthusiast, noted that his father enjoys trolling Bitcoin supporters on Twitter, adding that: 

“He doesn’t believe that anything he says is stupid though.”

1...2,4442,4452,446...2,630Page 2,445 of 2,630