Author: dfmines

Shiba Inu community forecast a 111 trillion SHIB burn, which spurred holders of SHIB to be bullish. According to the Shiba Inu community, 111 trillion SHIB could be burnt in the upcoming year SHIB owners may have been anticipating a positive indication when they saw a large burn Crypto’s price is set to recover its losses, according to analysis of the SHIB chart’s rising formation Over the past two months, a surge in the meme coin has been brought on by the Shiba Inu burn events. The community of SHIB holders remains to be concerned about the burn. SHIB BPP shared a prediction that 111 trillion Shiba Inu will burn over the course of the next year on the community-focused discord channel for the coin. In the coming year, according to SHIBQueenie, the community’s Discord channel admin, 111 trillion could be destroyed. Related Reading: Bitcoin Price Watch: BTC Facing Renewed Challenge To Keep Price Above $20,000 SHIB Decouples From BTC According to CoinMarketCap, SHIB has plunged by 1.99% or is trading at $0.00001305 as of this writing. Shiba Inu had a modest 0.25, or 25%, 30-day price trend with Bitcoin. One interpretation is that the price of SHIB is becoming increasingly uncorrelated with Bitcoin’s, suggesting that broader market fluctuations have less of an effect on its value. For comparison, the 30-day correlation between Bitcoin and the stablecoins Tether (USDT), USDC, and Binance USD was 0.21, 0.23, and 0.27, respectively. With a correlation of up to 0.96, other crypto such as Polygon (MATIC) have a robust connection with BTC. For investors looking to diversify their portfolios in case Bitcoin’s price underperforms, crypto assets with a low or negative correlation to Bitcoin may be helpful hedges. After seeing a remarkable 35% increase earlier in August, the SHIB price briefly separated itself from Bitcoin and the rest of the group. Shiba Inu Games Director Brings Shiba Eternity To Gamescom Shiba Eternity, a collectible card game, will take part at Gamescom. The biggest gaming festival and trade fair in the world would promote Shiba Inu adoption and increase its popularity among owners. Shiba Inu director William Volk will attend Gamescom and represent the meme coin initiative. Every year at the gaming exhibition, game publishers and firms show off new hardware and software to attendees from the business and consumer sectors. Related Reading: Want to Hodl USDC? Check These Indicators First To Ease Doubt Shiba Inu suffered 14% losses over the previous week, and holders of SHIB are hoping that the Dogecoin-killing meme coin will recover soon. Better days may be coming for SHIB. An analyst and trader using the alias Shiba Knight noticed a rising formation in the price chart of Shiba Inu and forecasted a recovery for the meme currency. Meme coin analysts concur that the currency is poised to begin its revival. SHIB bulls will probably drive the meme coin higher. SHIB total market cap at $7.25 billion on the daily chart | Source: TradingView.com Featured image from BeChewy, chart from TradingView.com

Powered by blockchain and non-fungible token technology, Web3 stands poised to disrupt the way content creators monetize their work, pulling the rug from under the corporations that previously called the shots. Leading the charge is India’s fastest-growing on-chain social app, Chingari. Dubbed “India’s TikTok,” Chingari has just released Creator Cuts — its video NFT (vNFT) marketplace. Like TikTok, Chingari is a social media platform for sharing short videos. However, its Solana network integration enables innovative new interactions, bringing creators closer to their followers than ever before. With Chingari’s social token, GARI, powering its revolutionary feature set, the app is now pioneering the use of vNFTs as a mechanism for monetizing content via the Creator Cuts marketplace. This world-first in social media looks set to shake up how content creators earn from their work by wresting control back from the corporations that continue to dictate revenue streams across Web2. Creator Cuts: Empowering creators and fans alike Creator Cuts is a decentralized vNFT marketplace that operates on the Solana network and is part of the rapidly expanding Chingari ecosystem. Chingari was launched in November 2018 and experienced parabolic growth, particularly following an Indian ban on TikTok in 2020 and, later, its innovative blockchain integration. Today, the platform boasts over 130 million users, with more than 5 million individuals signing on daily to enjoy short video content. Creator Cuts is Chingari’s latest foray into the world of Web3. Using the ecosystem’s native cryptocurrency GARI, platform users can buy, sell and mint vNFTs as they would on any NFT marketplace. The platform operates on the Solana network, meaning users benefit from low-cost transaction fees and lightning-fast settlement times. Chingari launched a beta version of Creator Cuts in August 2022. Initially, the team selected 100 of its top creators to pilot the scheme but plans to roll it out to more users soon. For now, each of the chosen creators can mint one vNFT and sell it to their followers. The idea behind vNFTs is to foster a closer relationship between content creators and those that support them. Consistent with the Web3 ethos, Creator Cuts empowers its users by granting full control over their creations and extending them the means of monetizing them directly. Meanwhile, it also rewards a creator’s most loyal followers. Create-to-Earn and Admire-to-Earn? While the idea of buying, selling, and minting NFTs is nothing new, Chingari has integrated additional features to ensure a more vibrant, circular creator economy. Chief among its innovations is the ability for vNFT holders to share in their favorite creators’ financial successes. Chingari users generate revenue via a process known as “GARI Mining” Users creating content and interacting with videos across the platform receive GARI Mining rewards from the project’s Community Reserve. Holders of Creator Cuts vNFTs automatically start to receive a portion of its creator’s total platform revenue as soon as they buy their video clip. Rewards are fixed at 10% of the creator’s overall daily revenue and are paid each day in GARI tokens. This dynamic should ensure significant demand for vNFTs from the platform’s most popular creators. Additionally, it will spur on creators to produce more of the content their fans love — meaning everyone’s a winner! Alongside these innovations, Creator Cuts itself is a powerful NFT marketplace. Its video clip listings fall under various categories, such as “dance,” “sports” and “cooking,” and the “Trending” section makes browsing for the hottest vNFTs quick and easy. In its beta release, the platform’s primary market functions via an auction mechanism, ensuring creators are adequately rewarded for their efforts. As one of the core tenets of Web3, decentralization is also key to the Creator Cuts platform. Although Creator Cuts is an NFT marketplace, users are not tied to the platform itself and vNFT holders will earn rewards regardless of whether they are a Chingari user or not. Simply holding the vNFT in a Solana-compatible wallet is all that’s needed to benefit from the efforts of the creator you support. Meanwhile, secondary market trading of vNFTs will be supported at all Solana ecosystem NFT marketplaces. Dive into Chingari’s Web3 revolution Creator Cuts is already live on the popular and fast-growing social application Chingari. Getting started requires a Solana wallet funded with GARI tokens. Popular compatible wallets include Phantom, Solflare and Sollet. After connecting a wallet, you can dive in and explore Creator Cuts’ vNFTs and start generating GARI tokens by liking, sharing and creating your own video clips. Already supporting a fully working product and home to millions of users, Chingari’s Creator Cuts platform stands as an early example to the rest of the emerging Web3 ecosystem, demonstrating just what’s possible with this disruptive, empowering tech.    

A judge ruled that the developer must stay in jail for 90 days while awaiting charges and a court date.

It’s a new record for the CME. The Chicago Mercantile Exchange’s front-month contracts exhibit a large discount compared to bitcoin’s spot market price. These are the futures contracts that are soon to expire. The CME’s quarterly contracts tend to trade at a minimum premium, and this kind of discount for front-month contracts is not usual. They’ve been trading at a discount for a couple of months, but they reclaimed a premium with the market recovery at the beginning of August. As we all know, that didn’t last. Related Reading: Why Has Bitcoin Futures Open Interest Flatlined? Factors The CME futures contracts on bitcoin have been available since December 2017. The CME’s front-month contracts haven’t traded this low since July 21st of 2021, more than a year and a half ago. At that time, a hardcore short squeeze followed the phenomena. The liquidation amounted to more than $750 million worth of shorts, “leading the open interest denominated in bitcoin to fall by 47,000 BTC,” Arcane Research tweeted. A couple of interesting charts from this week:$757 million worth of shorts was liquidated yesterday, leading the open interest denominated in bitcoin to fall by 47,000 BTC. Sources: @bybt_com, @skewdotcom, and @tradingview pic.twitter.com/XGcpO4jmSq — Arcane Research (@ArcaneResearch) July 27, 2021 In the most recent “The Weekly Update” report, Arcane Research tackled the CME futures situation: “The futures basis on CME’s most traded BTC contract, the front-month futures contract, is trading in sharp backwardation as the annualized basis reached an all-time low yesterday, averaging at -3.36%.” CME BTC Futures Annualized Rolling 1-Month Basis | Source: The Weekly Update Why Are CME Futures Trading This Low? There are macro factors, like the bitcoin futures market showing signs of market exhaustion. We at NewsBTC explained the situation as follows: “The reason behind the bitcoin futures premiums being down can be attributed to sell-offs that have rocked the digital asset in recent times. Not only have the sell-offs been apparent in investors who are directly exposed to the cryptocurrency but those who have exposure through traditional markets vehicles like ETFs have been selling off too.” BTC futures on CME for 08/25/2022 | Source: TradingView.com However, Arcane Research’s “The Weekly Update” also identifies very specific factors. These are related to the present and the ProShares Bitcoin Strategy ETF or BITO: “The growing discounts in the front-month contracts might be explained in part by structural effects. BITO has begun rolling their August contract exposure, possibly causing downward pressure on the front-month contracts. Yesterday, BITO rolled over 1000 August contracts and will roll over a further 3000 August contracts by Friday. Previous rolling periods have tended to be accompanied by a declining front-month basis.” Related Reading: One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up In any case, we can’t discard the situation as a normal occurrence. The discount is too steep. According to Arcane Research, it might be related to the disastrous start of the week for Nasdaq and the S&P 500. Or to the dollar gaining strength. Or to a general lack of liquidity. One thing’s for sure, something’s going on. Featured Image by Markus Spiske on Unsplash | Charts by TradingView and The Weekly Update

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Voyager Digital will pay $1.9 million in retention bonuses to key staff members to ensure the beleaguered cryptocurrency lender can continue operating through bankruptcy proceedings.

There are growing doubts about the regional economic bloc known as the East African Community’s ability to successfully launch a single currency by 2024, a report has said. One of the reasons for this is member states’ delays in meeting targets as set out in the roadmap. Attainment of Single Regional Currency a Top Priority […]

Is it ok to keep ETH on paper wallet during the update September 15? Cheers! submitted by /u/Stimorolgum [link] [comments]

Dogechain is a new Layer 2 Ethereum that uses DOGE as gas fee. It's basically a chain filled with shitcoin scam and not approved by the majority of DOGE community. Now they launched their own token called DC by airdropping to any wallet that uses Dogechain before 23rd August. The developer got 20B tokens upfront…
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Bitcoin price recently completed a two-month surge that resulted in a price increase to over $25,000; consequently, investors are now concentrating on the cryptocurrency’s next target price. Bitcoin price spikes to over $25,000 following a two-month surge Bitcoin now looking bearish; struggling to keep its price above $20,000 BTC down by 0.12%; currently trading at $21,498.36 Bitcoin (BTC), the leading cryptocurrency, is now displaying negative sentiment after first exhibiting bullish indicators. The flagship coin is now fighting once more to keep its price above $20,000. By the end of September 2022, the cryptocurrency community on CoinMarketCap forecasts that Bitcoin price will climb by 36.75% from its current value, trading at an average price of $29,346. Roughly 20,683 community members cast their votes to determine the pricing target. BTC Unable To Surpass $25,000 Due To Macroeconomic Conditions The price of bitcoin fluctuates by about $21,000. Even though Bitcoin’s recent rally tried to lift the asset out of a prolonged bear market, the community’s forecast is still optimistic. The crypto market reacted poorly to the Federal Reserve’s decision to raise interest rates amid the rising inflation, but BTC’s failure to surpass $25,000 has emerged as macroeconomic concerns continue to take center stage. At the time of publication, Bitcoin was significantly down 10% over the previous week. Bitcoin price stabilizes above $21,000 as a major shift is soon to come.  Related Reading: Want to Hodl USDC? Check These Indicators First To Ease Doubt Chart: CoinMarketCap According to Katie Stockton, founder, and managing partner at Fairlead Strategies, the price of Bitcoin, the most popular cryptocurrency, is anticipated to retrace to $18,300. The largest coin in the world has fallen below its 50-day moving average, according to Stockton, which may be a signal of an oncoming significant decline. Despite the turmoil, cryptocurrency trading specialist Michal van de Poppe said in a tweet on August 23 that Bitcoin is stable and could derive some advantages from the Eurozone’s activities. In the past, BTC has a tendency to fall between -14% and -28% below the 200-MA. In fact, mid-June saw a -21% decrease in BTC below the 200-week MA, which was in sync with historical data, he noted. Stockton Predicts Long-Term Downturn For Bitcoin Price Since the cryptocurrency has lost momentum, analyst now sees a higher risk of a long-term downturn. Stockton predicts that the largest cryptocurrency’s price will soon settle. Stockton predicts that it will most certainly drop to the low $18,000 level following a brief relief rally. Unfavorable macroeconomic conditions have had a significant negative impact on the cryptocurrency industry this year, with Bitcoin currently trading at a price that is almost 69% below its all-time high. Related Reading: Litecoin (LTC) Near-Term Route Could Be Determined By This Factor BTC total market cap at $414 billion on the daily chart | Source: TradingView.com Featured image from Bernard Marr, chart from TradingView.com