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Polygon On Its Way To Top 10, As Matic Made New All-Time Of $2.92, Taking 14th Place, While Just Behind SHIB

Mark Brennan
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Polygon On Its Way To Top 10, As Matic Made New All-Time Of $2.92, Taking 14th Place, While Just Behind SHIB

Polygon (MATIC) hits another new all-time high of $2.92 and is now the 14th biggest cryptocurrency in the world by market value.


matic new all time above 2.92
image source: coinmarketcap.com

The new all-time high came just three hours ago.

matic new all time high 2
image source: coinmarketcap.com

Matic’s market cap reached $20,268,938,498 crossing top coins like Uniswap, BUSD, Crypto.com, Litecoin, and Chainlink on its way to the top ten. Matic’s market cap is just behind Shiba Inu with a very small margin. We hope that today Matic will cross SHIB to become the 13th largest crypto.

matic taking 14th position
image source: coinmarketcap.com

Ethereum whales were aggressively accumulating Matic in the last week as reported by TheCryptoBasic on December 24th. Ethereum Whales were buying Matic at a rapid pace this sharp buying suggested that a new all-time high above $2.73 was coming soon and the same happened today. MATIC also became the Ethereum whale’s top 10 holdings and top 10 purchased tokens over the last week.

Other than whales aggressive buying, Uniswap v3 launch on Polygon along with an opera announcement to integrate Polygon in its browser, with over 300 million users and Polygon bringing an upgrade to its network with a testnet release known as the Mumbai test network, that will introduce the burning of Matic and better fee visibility are the main cause of the Matic new all-time high.

A Promise Fulfilled, 239 Million Shiba Inu Tokens Burned As A Christmas Party

Albert Brown
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A Promise Fulfilled, 239 Million Shiba Inu Tokens Burned As A Christmas Party

A promise was fulfilled, Bigger Entertainment burned 239 Million SHIB tokens as a Christmas party.



239 Million Shiba Inu Tokens Burned, Transaction can be seen on Etherscan.

https://etherscan.io/tx/0x76df993ff5a80a06ea4869970d1b71297ff56bc8d482443308697270200af561

The burn party was organized by Bigger Entertainment, Steven Cooper, founder, and owner of Bigger Entertainment first announced on Twitter that his team intends to destroy 211,666,467 Shiba Inu coins on December 26. This amount kept on increasing since the beginning of December. Later the founder announced that they were able to burn 239 Million+ shib. He also invited the shib community to watch the burn event live on youtube.

Shib lovers bought $5 each for a ticket to participate in the burn party, Big Entertainment then bought coins for the amount collected and burned them all. The company also makes sure to provide Etherscan transactions of the burned tokens unlike ‘Ask The Doctor’ which always just acted to be burning Shib coins.

Along with the burn party there was a free NFT give away which was won by Blu Moo:

Cooper said:

“Congrats to Blu Moo, who is the winner of our one-of-a-kind Shiba Santa NFT. Blu contributed over $300 to the burn pot for the party! Tickets to the party are now closed.”

Cooper and his company were planning to reach a target of 1 Billion token burns on Chrismast, but that did not happen. However, they were able to burn 239M tokens.

Cooper also commented on ‘Ask The Doctor ‘saying it was sad to see AskTheDoctor was a scam. “A lot of big claims, but never burned a single coin. Hope the shibarmy learns from this. If you don’t see burning on a consistent basis, don’t trust it.”

Overall, taking into account all the SHIB burning that is taking place everywhere, a total of 410,300,479,135,246 SHIB tokens (41.03005%) have been burned from the initial supply of 1 quadrillion.

Read Latest Shiba Inu Updates Here

 

 

Ethereum Whale ‘Tsunade’ Accumulate 77,970,512,059 Shiba Inu (SHIB) tokens, For $2,945,725

Zabi
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Ethereum Whale ‘Tsunade’ Accumulate 77,970,512,059 Shiba Inu (SHIB) tokens, For $2,945,725

On Saturday, an Ethereum whale, “Tsunade” accumulates 77,970,512,059 of Shiba Inu (SHIB) tokens, valued at $2,945,725 USD.



The transaction can be seen at:

https://www.whalestats.com/transaction/ethereum/0xd05762f8b502da972aaf58d09586e37da3b4368e5b722a1c0c86acdc4ec94d0f

According to Whalestats data, the total value of the wallet right now is $556,789,296 USD, making it the world’s 31st biggest whale of Ethereum.

Overall, “Tsunade” wallet is holding 213 tokens, among which Shiba Inu (SHIB) token makes 41.23% of his total portfolio, as the whale has accumulated a total of 2 Trillion Shiba Inu (SHIB) tokens, currently valued at $300,569,152 USD (the biggest token position by dollar value).

Right now, the whale also has 8.66% of Tether (USDT), a stablecoin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, in his portfolio, signaling that he may convert more of his USDT into Shiba Inu (SHIB) token in the coming days or weeks.

The whale’s portfolio also indicates 7.53% of his holdings in Ethereum (ETH) valued at $54,925,416 USD.

Along with other bullish news, this whale’s aggressive accumulation can also be considered as the biggest bullish sign for Shiba Inu (SHIB).

Turkey President Confirms Crypto Law Is Ready And Headed To Parliament For Approval

Mark Brennan
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Turkey President Confirms Crypto Law Is Ready And Headed To Parliament For Approval

Turkish President Recep Tayyip Erdogan said the country is launching a new economic model, the draft crypto bill is prepared and will be sent to parliament soon.



As reported by local TV, NTV, in a press conference in Dolmabahce Palace, Istanbul, Erdogan said that the draft law on cryptocurrencies is ready and will be submitted for discussion and approval with the Turkish parliament. He expressed the hope that with the new economic model, the country will make a leap forward, and the law will facilitate crypto use in the country.

Erdogan told journalists:

“The law is ready, we will send it to Parliament soon without delay, We know there are risks, but there are opportunities as well. And we should take this risk.”

The bill has not yet been published nor the Turkish President has provided any further details on the bill content. However, Erdogan noted that “citizens must know that their money is secured by the Central Bank.” So it seems that the transition to a new economic model has been agreed upon and will be supported by the Central Bank of Turkey, which will become the regulator of crypto.

The decision of the Turkish government came as a surprise to many crypto participants because, in the past, both the government and the central bank of Turkey never showed a friendly attitude towards the industry. In April, the Central Bank said that crypto-assets cannot be used directly or indirectly as a payment instrument.

 

The lira weakened against the dollar for the ninth year in a row. Since the beginning of the year, the currency has fallen by 46.5% and became the third currency in the world to fall against the Dollar so aggressively, Only the Cuban peso (-95.8%) and the Libyan dinar (-70.9%) are worse-performing currencies than Lira.

The fall of the Lira has made Turkey citizens aggressively use crypto. As reported by The CryptoBasic because of the instability faced by the lira, local traders are attracted to the exceptional returns associated with coins such as SHIB. The priority of Turkish citizens is gold and the dollar, but they also buy cheap cryptocurrencies like SHIB, VET, XRP because BTC is expensive. Traders in Turkey also use tether as a proxy for dollar exposure.

In January 2021, the daily trading volume of cryptocurrency exchanges in Turkey exceeded $1 billion for the first time, and as Lira kept on falling that volume crossed $7 Billion in Dec 2021. At the time of writing, $1 is worth 11 Lira, whereas, on Dec 20, $1 was worth 7.5 Lira. However, Turkey’s lira jumps by more than 40% in a day after President Erdogan announced a new economic model.

According to CoinMarketCap, more than 16% of the world’s crypto users come from Turkey, which makes Turkey the 4th largest country in the world in terms of crypto users.

Whales Loading Shib For 2022, As Top 100 Shiba Inu Holders Buy $20M Worth Of Shib Coins In Last 24 Hours

Mark Brennan
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Whales Loading Shib For 2022, As Top 100 Shiba Inu Holders Buy $20M Worth Of Shib Coins In Last 24 Hours

The data shows that the top 100 Shiba Inu holders bought Shib coin for a whooping $20 Million in the last 24 hours.



Ethereum whales are again becoming interested in the Shib. The top Shib holders bought a staggering $20,649,135 worth of Shiba Inu while selling only $3.48 million.

Such strong buying makes SHIB the biggest token position by dollar value and the most traded coin among the top 1000 ETH wallets.

Whale stats also show that SHIB has reached an astonishing 1,085,000+ holders and the top 1000 ETH wallets are holding 52,242,480,095,488 $SHIB  worth $1,916,171,302 USD.

Etherscan data also confirm that in the last 24 hours whales have accumulated about 21 billion Shib tokens. The stats also demonstrate that whales are buying SHIB dips, recently a crypto whale acquired added 4T SHIB ($136M), Such massive buying made SHIB price increase above 20%.

As far as Shib’s listing on Robinhood is concerned there are rumors that the Robinhood team is currently working on a lot of backend integration to bring SHIB on the exchange in the first quarter of 2022.

Hundreds Of El Salvador Citizens Report Their Bitcoins Are disappearing From State Owned Chivo Wallet

Mark Brennan
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Hundreds Of El Salvador Citizens Report Their Bitcoins Are disappearing From State Owned Chivo Wallet

Hundreds of El Salvador citizens inexplicably lose bitcoins in the state-owned crypto wallet Chivo.



After El Salvador’s adoption of bitcoin as legal tender, hundreds of Salvadorans claim that their BTC are missing from their digital wallets.

Twitter user ‘El Comisionado’, documented 50 such cases, totaling over $96,220 saying:

“The government does not admit mistakes and is silent. But this is one of the things that people demand an answer to. Some have been waiting for months to get their money back.”

The problem was confirmed by the El Salvador police. El Salvador citizen and bitcoin enthusiast Rogzy said:

“I don’t think Chivo is safe and no one can verify it because the application code is not open source.” Few people use the wallet, he said, because most “don’t know how it works.”

President Nayib Bukele previously stated that Chivo has reached 2.1 million users, while the country’s total population is about 6.5 million. He also acknowledged the technical issues with the Chivo wallet but still, his administration is unable to tackle and solve the unpleasant situation for their citizens.

 

The concern first time arose in October when El Salvadorians complained that scammers are using their personal data to install the Chivo wallet in order to get a $30 bonus in bitcoins from the state.

Many people complained that their identity documents have been used to install the Chivo wallet without their knowledge. Scammers tried to get $30 in BTC, which the El Salvadorian authorities distributed to all citizens who registered the wallet for the first time. Users fear that if hackers manage to steal their personal data, they will be able to use their private information to commit crimes and money laundering.

Here a point must be noted that it’s not the State-Owned Chivo Wallet that is scamming people. The point is that scammers are scamming people and that the wallet has poor KYC so there are people impersonating other people to get their free coins. But it’s never the case that the STATE is making a rug pull.

Recently El Salvador’s president Nayib Bukele announced plans to build a ‘Bitcoin City’ at the base of the Conchagua volcano on the country’s eastern coast.

Top Crypto Exchanges Hold 6.2% Of Bitcoin Circulating Supply, With Coinbase Leading And Binance Following

Mark Brennan
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Top Crypto Exchanges Hold 6.2% Of Bitcoin Circulating Supply, With Coinbase Leading And Binance Following

According to stats, the centralized crypto exchanges (CEX) hold 1.3 million BTC that is 6.5% of the BTC circulating supply.



Most of these Bitcoins over 44% are held in Coinbase exchange wallets.

According to CryptoRank statistics, there are 583,000 BTC in Coinbase wallets. Binance is in second place with 329,000 BTC holdings, almost 25% of 1.3M BTCs, in third place is Bitfinex with 193,000 BTC (16.63%).

Analyst data indicate that CEX balances have declined over the past two years. In July 2021, CEX wallets had 1.53 million BTC (7.3% of the BTC circulating supply), in October 2020, 1.76 million BTC (9.5%).

Glassnode data confirms this trend of falling BTC reserves on CEX. According to Glassnode, there were more than 2.54 million BTC in wallets of centralized exchanges in 2018 which now falls to 1.4 million BTC in 2021.

A similar outflow of funds is observed for the Ethereum addresses of centralized exchanges. According to Glassnode, Ethereum balance on exchanges reached a 3-year low of 14,042,589.854 ETH.

These CEX falling reserves is an extremely positive sign as it eliminates the possibility of sharp selling. This also indicates investor trust in the market as investors are confident to hold their digital assets away from exchanges for long-term storage. The BTC and ETH, CEX holdings are at the lowest in crypto history which is proved by the fact that we are not having any massive corrections as we had in 2018, 2019.

Any dip in the crypto market for the last almost 1.5 years is quickly bought and after short-sized corrections market tries to recover fast, showing that investors are not panic-selling and holding their assets for the long term.

China’s First-Ever Metaverse Conference Coming, As Chinese Tech Giant ‘Baidu’ Building Its Own Metaverse

Mark Brennan
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China’s First-Ever Metaverse Conference Coming, As Chinese Tech Giant ‘Baidu’ Building Its Own Metaverse

Chinese tech giant Baidu could take six years to completely build a metaverse as part of the ‘XiRang’ project.



Vice president of the company Ma Jie told CNBC.

Baidu started working on the ‘XiRang’ project late last year. On December 27, the company plans to host an annual developer conference on its metaverse app, XiRang. The company said it will be China’s first-ever metaverse conference.

According to Ma Jie, the company’s metaverse can currently accommodate about 100,000 users at a time. He stressed that Baidu is committed to creating an open-source platform – for metaverse developers.

The company revealed the ‘XiRang’ app to reporters last Tuesday. CNBC reports that the platform is really far from perfect. In particular, the virtual space is slow to load, and user avatars behave too unrealistic.

Jie stated that XiRang does not support cryptocurrencies and other digital assets like NFT. However, according to him, the platform is based on technology “similar to blockchain”.

Previously, the Chinese authorities called the NFT and the metaverse potential Ponzi schemes.

You must note a critical point that there is no doubt that China is banning cryptocurrencies and all of their activities like mining, trading, etc, but China is not at all banning or stopping blockchain. China became the first country in the world that finalize Digital Yuan, completing all the testing phases. This year alone, the 17 highest-level government departments in China announced nearly 180 blockchain innovation projects, most of which are local governments and state-owned enterprises. They apply blockchain technology and have nothing to do with cryptocurrency.

As Christmas Arrives Floki Inu Donates $1.5M DAI, Also DAI Becomes 4th Most Donated Crypto On ‘Giving Block’

Zabi
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As Christmas Arrives Floki Inu Donates $1.5M DAI, Also DAI Becomes 4th Most Donated Crypto On ‘Giving Block’

On Wednesday, MakerDAO Growth, a developer of DAI, an Ethereum-based stablecoin, pledged to U.S Dollar, says “Thank you” to Floki Inu for the top Dai donations.


 

The company noted Floki Inu (FLOKI) has donated 1.40 million Dai to ‘Big Green’, an organization that cultivates a network of school communities that promote student wellness, forge connections between education and health, and offer learning experiences.

Besides Big Green, Floki Inu (FLOKI) has also donated 150,000 Dai to ‘Pencils of Promise‘, the organization that believes every child should have access to quality education. They create schools, programs, and global communities around the common goal of education for all.

In addition, the Maker Dao Growth also says, “Thank you” to the team of BSCWin Bulls Token, Toasty Turts, SafeStar, along with some anonymous entities who have made $49k, $39k, $29k, $25k, $24k, and numerous more donations with Dai.

According to the Dai Maker, ‘BSCWin Bulls Token’, a revolutionary cross-chain ecosystem that hosts the most advanced community-driven decentralized lottery and DAO, has donated 36,000 Dai to buildOn, the organization that mobilizes U.S. students to transform their communities through service and change the world by building schools in developing countries.

Moreover, ‘Toasty Turts’ has donated 17,000 Dai to ‘Sea Shepherd US’, the organization that protects marine wild worldwide while saving us as a species as we rely on the Oceans for food and 70% of our oxygen.

At the same time, SafeStar, a frictionless yield & liquidity generation protocol, has donated 11,800 Dai to ‘Africa Development Promise’, the organization that empowers rural women to achieve their economic goals.

From over 50 cryptos, Dai is now the 4th most donated on ‘The Giving Block’. The company said Dai is looking good as they have raised up to 2 million Dai for charity since May 2021.

Dai Maker said they are also grateful to The Giving Block, an organization on a mission to change the world with crypto, who made Dai donations possible.

Yesterday Bitglobal formerly Bithumb global announced the listing of Floki Inu.

Shib Rival Floki Inu Listed By Top Korea Exchange

Mark Brennan
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Shib Rival Floki Inu Listed By Top Korea Exchange

South Korea Top exchange Bitglobal list Floki Inu.



Bitglobal formerly Bithumb global announced the listing of Floki Inu, Deposit will start on Dec 27, 2021, at 11:00 local time while Trading will start on Dec 27, 2021, at 17:00.

Bithumb founded in 2013 is a crypto exchange operated by BTC Korea.Com Co. Ltd. and based in Seoul, Korea. The exchange primarily serves Korean customers, Bithumb offers crypto trading paired with South Korean Won (KRW).

For International clients, Bithumb Global was then launched in May 2019 as an international cryptocurrency exchange, also based in South Korea and registered in Seychelles. Bithumb Global has grown rapidly with daily trading volume above $300 million. The exchange supports over 300 digital assets, it has advanced trading features like margin trading, futures trading, staking, and Launchpad.

Floki adoption is seriously growing, recently Floki announced a partnership with Inverse Finance, as a result, Floki holders can now stake their coins to earn Inverse Finance’s token, INV. Users can also borrow BTC, ETH, and other available tokens against Floki tokens.

Floki Inu is also looking to Build Schools In Every Underdeveloped Nation Starting From Nigeria, Guatemala, And Laos.

 

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