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Kraken Exchange Report Puts Cardano Ahead Of Ethereum And Other Competitors

Mark Brennan
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Kraken Exchange Report Puts Cardano Ahead Of Ethereum And Other Competitors

Kraken the world top exchange highlight the main difference between Ethereum and Cardano.



Ethereum, the largest smart contracts platform and Cardano most widely termed as Ethereum killer is the largest proof-of-stake (PoS) blockchain.

Kraken pointed out that Cardano blockchain is designed in a way that promotes its native coin ADA and enables developers to securely build DApps on it. While Ethereum was built to be a kind of operating system for any number of custom assets and programs.

The exchange points out that Ethereum was launched in 2013, while its software went live in 2015, even taking birth two years after ETH in 2017, Cardano has attained some prominent prestige and market share of Ethereum.

The exchange further writes that Cardano got its initial investment by selling 26 billion tokens to investors.

“At the time of its launch, approximately 31 billion ADA were created, nearly 26 billion of which were sold to investors by a Japan-based company hired to manage the sale. Participants were able to purchase vouchers that could later be exchanged for ADA on the software’s release.”

Kraken points out some major characteristic of Cardano that makes the coin stand in front of its competitors especially Ethereum.

The crypto exchange stressed that Cardano unlike other projects is being released in phases.

 “Cardano is released in phases and has seen 5 major platform upgrades since 2017, including Byron, which enabled the transfer for ADA cryptocurrency for the first time and Voltaire, which introduced a new model for how users could fund development for software changes.”

The world top exchange writes that Cardano has a research-driven approach to design that makes the coin different from other blockchains.

“Cardano differs from other blockchain projects by emphasizing a research-driven approach to design, aiming to achieve an academic rigor it believes will propel the adoption of its technology. While Cardano may not promise new ground-breaking features, users and developers may find its cryptocurrency offers appealing optimizations based on scientific research and formal verification, a process by which its code is verified mathematically.”

In the last 24 hours, Cardano is ahead of Ethereum in terms of transaction volume. over the past 24 hours, Cardano processed $4.02 billion and ETH $2.41 billion. Also, Cardano users paid just $63,254 in transaction fees compared to Ethereum’s $25.44 million

The increase in the activity on the Cardano blockchain requires a boost in the network’s capacity so Cardano Input-Output Global is looking to enhance Cardano’s smart contracts platform, Plutus scalability.

A Total Of 475,751 Matic Burned After One Week Of Polygon EIP1559 Launch

Mark Brennan
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A Total Of 475,751 Matic Burned After One Week Of Polygon EIP1559 Launch

Matic joins Ethereum and Binance coin in real-time fees burning.



On Jan 18th Polygon hit the London Block, where the EIP1559 and related EIPs were activated on the Mainnet.

Since the launch of EIP1559, a total of 475,751 Matic have been burned worth $710,000.

While EIP 1559 will not help reduce transaction fees, it will decrease the number of users who overpay and let users better evaluate their spending.

Implementing the EIP-1559 update can enable Matic to become a deflationary asset that will vastly impact the Polygon community, including holders, validators, delegators, and developers.

Polygon’s MATIC has a fixed supply of 10 billion, so any reduced available tokens will have a deflationary effect. The Polygon team used Ethereum’s experience since the upgrade as a basis for modeling the potential impact on the overall MATIC supply. The team’s analysis indicates that year-on-year incineration would destroy 27 million MATICs in a year.

Whales Swallowing SHIB, Ethereum Whales Bought 3.6 Trillion Shiba Inu Tokens Worth $73.4M In No Time

Zabi
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Whales Swallowing SHIB, Ethereum Whales Bought 3.6 Trillion Shiba Inu Tokens Worth $73.4M In No Time

Ethereum (ETH) whales show their hunger for Shiba Inu (SHIB) token as it depreciated more than 32% in a week.



According to the data provided by WhaleStats, SHIB has become the third most purchased token among the top 1000 ETH wallets in the last 24 hours, following Ethereum (ETH) and Tether (USDT).

Decentraland (MANA) and Polygon (MATIC) occupies 4th and 5th position, respectively.

Among those top 1000 ETH wallets, two Ethereum Whales have aggressively added SHIB to their portfolio. In just 2 hours, both whales have accumulated a total of 3.6 Trillion tokens in 8 transactions. The estimated worth of these tokens comes out to be $73.4M at the time of purchase.

The data indicates that each Ethereum whale has bought 4,201,997,731 SHIB tokens on average at an average estimated value of $85,573.

One is known by the name “Trinity,” and another is unknown among these two whales.

We found that this whale has accumulated 177,622 Ethereum (ETH) coins into Trinity wallet. This means she is holding $400,483,200 worth of Ethereum, which makes 82.82% of his total portfolio and appears to be his biggest token holding by dollar value. The 2nd biggest holding appears to be Shiba Inu (SHIB) token. The wallet contains 2 trillion of SHIB at the time of writing and has an estimated worth of $38,575,500. She ate the dip when per SHIB token price was trading at $0.00002 on average. SHIB makes 7.97% of his total portfolio.

Decentraland (MANA) is his 3rd biggest holding, and the balance for the coin appears to be 10,425,639 MANA, whose estimated worth is calculated at $19,791,008. She purchased MANA when the price for the coin was trading at $2 on average.

During the dip, the second whale has also accumulated ETH, SHIB, and MANA. Her portfolio indicates that she holds 59.65% of ETH, 29.95% of SHIB, and 5.28% of MANA.

The third whale ranked 26 in the Top 1000 Ethereum rich list just added 51,796,042,392 (51B) shib for $1,084,609.

Breaking: Shiba Inu (SHIB) Plans to Launch Its Metaverse (Shiberse) in 2022

Zabi
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Breaking: Shiba Inu (SHIB) Plans to Launch Its Metaverse (Shiberse) in 2022

Shiba Inu (SHIB) opens up its first special surprise for 2022 in front of its followers and holders.



The company declared that it would launch Shiberse in 2022, which will take the SHIB token to its new heights. This will be an immersive experience for their ecosystem and the Metaverse space.

The company ends the tweet with the following words:

“We can’t wait to show you more. Woof!”

This means the holders or followers of SHIB tokens can expect more surprises in the coming few days or months.

This new announcement is about the Metaverse project, which will be part of the Shib ecosystem and increase its utility. Details of the project are not yet disclosed, but more particulars will inevitably follow soon.

Eric M, the shib developer, claims that the Shiba Inu ecosystem that includes tokens, games, exchanges will come together in Shiberse. The developer also emphasized that the name of the shib metaverse is not finalized, so beware of scammers.

On the other hand, Shib Informer assured its holders that the team is working on many new ideas, and many more new developments are on their way. So there is no need to scare of red candles appearing on the chart. SHIB is here to stay and will change the market forever.

The official Twitter account further clarified the term “developments” and said the development includes Shibarium, ShibaSwap 2 + burns, the game, along some new ones.

Soon after the announcement, the Shiba Inu (SHIB) price started to lick its wounds. In just one hour, the price jumped from 0.00001927 to 0.00002108 and recovered most of its daily losses.

When writing this news, the SHIB price is trading at $0.00002081 per SHIB token, losing more than 4% for the day.

Shiba Inu Holders Can Now Shop On Amazon

Mark Brennan
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Shiba Inu Holders Can Now Shop On Amazon

Holders of Shiba Inu (SHIB) can pay for goods and services on all BitPay supported brands, including the popular e-commerce platform Amazon. 



The payment provider made this known today in response to a January 19 tweet that teased Amazon accepting SHIB as a payment method. 

“You can shop on Amazon with $SHIB using the #BitPay app,” BitPay tweeted. 

BitPay Fostering Crypto Payment 

Aside from Amazon, SHIB holders can also make payments across other BitPay’s supported brands, including Spotify, Google Play, Uber, and Hotels.com, among others. 

Bitpay first added support for Shiba Inu on Dec 9th; Bitpay made it possible for thousands of businesses to accept Shib as a means of payment.

With the addition of SHIB as a payment option, BitPay supports seven cryptocurrencies, such as bitcoin (BTC), ethereum (ETH), litecoin (LTC), wrapped BTC, dogecoin, bitcoin cash, and Shiba Inu. 

SHIB Still Underperforming

With the development, one would think the Shiba Inu coin would surge moments after the news broke.  However, the cryptocurrency is still severely affected by the significant correction that hit the crypto market in the early hours of today. 

At the time of writing, SHIB is currently changing hands at $0.00001993 and is down 8.7% from what was recorded, according to data on Coingecko.

Bitcoin Drop Below $33,500 Amid U.S. Fed Upcoming Wednesday Meeting 

Mark Brennan
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Bitcoin Drop Below $33,500 Amid U.S. Fed Upcoming Wednesday Meeting 

Since the beginning of the year, the world’s largest cryptocurrency by market capitalization Bitcoin (BTC) has suffered a major price dip. 



Data on popular cryptocurrency aggregator site Coingecko showed that Bitcoin has shredded over 35% of its value on a year-to-date basis. In the past week alone, bitcoin has fallen 21.14% and is currently changing hands below $34,000, at the time of writing. 

Last week’s dip was mainly championed by different factors. At the top of that list is Russia Central Bank’s intention to put a blanket ban on crypto-related activities, including trading, mining, and its use in payments. 

Bitcoin, however, stabilized on Sunday, recording a 3.43% gain in the early hours of today.  

Bitcoin Dip Not Over 

According to data published by Charles Edwards, founder of crypto investment firm Capriole, Bitcoin may be close to the end of its bear season, as the market’s network value to transaction (NVT) ratiometric displays an oversold signal. 

While enthusiasts may think they are close to seeing the end of Bitcoin bear season, the cryptocurrency plummeted again, this time, it fell below $34,000. 

Unfortunately, the Bitcoin dip may be far from being over. On Wednesday, the Federal Reserve is expected to raise interest rates in March, in a bid to curb rising inflation. The decision will be made during the inaugural meeting of 2022. 

While this is above what economists expect, the Fed believes increased inflation is a threat to a sustainable economy and, as such, may opt to raise its interest rates. 

Regulators Seeking to Ban Bitcoin

Bitcoin is not free from global regulatory concerns. As Bitcoin continues to gain mainstream popularity, global regulators are considering regulating or totally banning the asset class to protect existing monetary policies. 

Aside from Russia pushing for a blanket ban on cryptocurrency, countries like China and Myanmar have banned related activities within their jurisdiction, while imposing a penalty for people who go against the bill. 

More countries may likely follow the approach of China and Myanmar. At the moment, the Pakistani government is pushing to ban crypto activities in its territory. 

Polkadot Joins Race To Become FC Barcelona Jersey Sponsor

Jakkk
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Polkadot Joins Race To Become FC Barcelona Jersey Sponsor

Popular blockchain project Polkadot has become the latest crypto-related firm to indicate interest in becoming FC Barcelona’s official jersey sponsor. 



According to Barcelona-based sports newspaper FC Barcelona Noticias, Polkadot alongside music platform Spotify made their sponsorship offers known to the Spanish football giant last week. 

FCB writes:

“Another of the options is Polkadot, the platform that has entered innovations  allowing a high number of transactions by second.”

Although FC Barcelona (FCB) is critically examining all offers received so far, the favorite selection that will become its jersey sponsor could pay up to €75 million ($84.9 million) per season for the number of years the deal is expected to last.

Should Polkadot become the selected candidate for the deal, FC Barcelona will print the logo of the cryptocurrency and blockchain company on the sleeves and front of its official jerseys, as well as its training suits. 

Polkadot is an open-source, cryptocurrency and blockchain platform that supports distributed computing. Polkadot uses a Proof-of-Stake (PoS) consensus algorithm and has become one of the most popular blockchain networks in the industry. 

Crypto Companies Eye the FCB Deal

The development comes as FC Barcelona continues to look for a new jersey sponsor, as its deal with current sponsor brand Rakuten expires by the end of the 2021/2022 season. 

Polkadot is not the only cryptocurrency company interested in landing the FC Barcelona jersey sponsorship deal. The former UEFA Champions League winner has received offers from crypto-related companies, including Binance and FTX.  

FC Barcelona, which is currently cash-strapped, is not willing to accept any offer below €55 million ($62.7 million) per season, the amount agreed with Rakuten.

Will Shiba Inu Surge After Hitting A Yearly Low? 

Mark Brennan
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Will Shiba Inu Surge After Hitting A Yearly Low? 

Shiba Inu (SHIB) was one of the best performing cryptocurrencies last year. The cryptocurrency surge started in April and grew to an all-time high (ATH) of $0.000086 in October 2021, according to data on Coingecko. 



However, 2022 did not start on a good note for many crypto enthusiasts, especially SHIB investors, as the token has fallen over 75% from its ATH, prompting holders to reconsider whether the cryptocurrency is still poised for another rally this year. 

Shiba Inu’s History & Use Case

It is worth noting that SHIB Inu was launched in August 2020 as a meme coin, mainly referred to as an internet joke. The cryptocurrency is tipped to ultimately become the Dogecoin (DOGE) killer by surpassing the latter’s growth and becoming the most popular meme coin in the market.  

However, SHIB has continued to use the same tactics as DOGE, But Shiba Inu does have some tangible use cases. The first-ever utility introduced by the meme token was ShibaSwap, its native decentralized exchange (DEX). Shiba Inu’s team also announced the first phase of DOGGY DAO, known as DAO 1 (Beta), intending to work towards decentralization continually.

Last year, the project generated massive hype from famous figures, including Elon Musk, attracting many investors to adopt it. SHIB has also been listed across several cryptocurrency exchanges and casinos, with payment providers like Bitpay and Flexa adding it as a payment option.  

Investors Looking Forward to Another SHIB Rally 

Interestingly, many investors are already loading their bags and anticipating another Shiba Inu hype in a bid to enjoy the SHIB rally once again. 

At the moment, the hype, which the project has heavily relied on, has not started yet. While the project’s 2.6 million followers could come in handy when the promotion restarts to push its price to a new ATH, investing heavily in meme coins is not worth it.

A majority of these influencers, who succeeded in fostering SHIB’s widespread adoption, can choose to abandon the project when they make a substantial profit and move on to other juicy offers at any time. 

Hopefully, the Shiba Inu team is quickly developing use cases for the project so that its value will not be tied only to the amount of hype the project receives. 

The Shiba Inu team has been up to some big things. Last year, Shiba Inu announced that it would be expanding its ecosystem to support play-to-earn (P2E) non-fungible token (NFT) games.

On one side, the demand is growing for the SHIB, and on the other side, Burning is gaining momentum day after day, decreasing the supply as in the last 24 hours, 64M Shib coins were burned.

As Bitcoin Completes Its Worst Week In Eight Months, Michael Saylor Looks For A Night Shift In Tahinis Restaurants

Mark Brennan
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As Bitcoin Completes Its Worst Week In Eight Months, Michael Saylor Looks For A Night Shift In Tahinis Restaurants

Bitcoin had its worst week in eight months.



On Sunday, January 23, the price of bitcoin stabilized after a week that was the worst for the asset in eight months. At writing, the first cryptocurrency is trading above $35,300.

Over the past seven days, the price of bitcoin has decreased by 18.1% and by 30.6% in a month, according to Coinmarketcap. The fear and greed index dropped to 13, indicating panic among market participants.

On Friday, January 21, the Bitcoin price fell below $37,700, and on Saturday, the price went down $34K, a fall followed by all assets from the top 10 by capitalization.

The head of institutional research at Coinbase, David Duong, believes that traders fear the possibility of a sharp tightening of monetary policy by the Fed over the following months.

“One of the bullish drivers for cryptocurrencies over the past two years has been an overabundance of pandemic-related fiscal and monetary stimulus measures around the world, and most of them will soon come to naught,” Duong said.

After strong correction of Bitcoin, the government of El Salvador purchased 410 BTC for $15 million. The average purchase price was $36,585. Considering the last investment, 1651 BTC are on the balance sheet of the state fund of El Salvador.

Later, President Nayib Bukele changed his avatar on Twitter, as Bitcoin Sinks El Salvador President Nayib Buleke Comes Up In McDonald Outfit.

Michael Saylor, CEO of MicroStrategy, liked the idea of El Salvador president and changed his Twitter profile image wearing the cap of Tahinis Restaurants, saying he might apply for the night shift.

It’s worth remembering that these memes are considered a joke in the Bitcoin community; when BTC price falls, these meme comes as a gag to prepare for a restaurant job.

As many who follow Bitcoin know that market corrections are normal and that sometimes they are strong and with brutal fast falls, the BTC “Hodlers” take the opportunity to joke that they will have to work frying hamburgers as the currency goes through a challenging moment.

Recall that on January 23, MicroStrategy shares fell by 20% against the backdrop of a published letter from the SEC and a decrease in the price of bitcoin.

Economist And New York City University Professor Believes Bitcoin And Altcoin Prices will Fall More In Short Term

Mark Brennan
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Economist And New York City University Professor Believes Bitcoin And Altcoin Prices will Fall More In Short Term

The Economist and former Visiting Professor at the New School (NY), Angel Banchs, said that the price of bitcoin and other cryptocurrencies will fall a lot in the short term.



He also stated that cryptocurrencies might disappear. “I want to make my prognosis clear. Not only do I maintain that in the short term Bitcoin and cryptos will fall more, which is already starting to happen, but also that in the medium term they will disappear.”

Angel Banchs is a visiting scholar in different universities, previously he was a visiting professor at the University of New York City, ‘The New School’. Today he has his finance blog where he gives online classes also teachings about bitcoin.

The professor has a blog where he conducts courses related to economics and politics, where some lessons are related to bitcoin. According to him, bitcoin can reach zero, but the same will never happen with fiat money. If the demand for bitcoin drops to zero, the price goes with it.

He asserts that the state matters and that fiat money can only be controlled by the government to preserve its value and keep it safe from fraud or crime.

In other lessons, he argues that bitcoin is not a “hedge” against inflation, because the digital asset does not serve as a hedge against inflation due to its volatility.

Bitcoin supporters on the other hand believe that Bitcoin is a public, free, transparent, and limited supply digital currency that is available to anyone around the world.

Despite its volatility, bitcoin has appreciated over time. Today it is seen as a store of value not only by ordinary people but also by companies and governments.

Finally, bitcoin is still little used as a currency or store of value compared to currency. But those who understand the fundamentals of the digital asset know that they need it more for freedom.

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