Category: Cryptocurrency News

Despite the reports surfacing of low numbers of unique active wallets on Decentraland, the metaverse hype, investment and development go on.

Hi guys. The recent drop of the second generation of reddit avatar NFTs and the meteoric uptrend in trading volume for reddit avatar NFTs has raised a concern in my mind Not only are there millions of dollars of NFTs on reddit user vaults. But we also have millions of dollars of community tokens such…
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The program was launched after Decentral Bank, the issuer of NEAR-native stablecoin USN, raised concerns about the stablecoin depegging due to algorithmic failure.

Yellow Card, an Africa-focused cryptocurrency exchange platform, recently said it has received a virtual asset service provider (VASP) license to operate in Botswana. Granted by the country’s Non-Bank Financial Institutions Regulatory Authority, Yellow Card’s license allows the crypto exchange to bolster its operations on the continent. Working With Regulators The Africa-focused cryptocurrency exchange platform, Yellow […]

The highest sale of any Reddit Collectible Avatar now goes to The Hands #1 of The Senses collection by Rojom. It's the highest sale to date for any Reddit avatar, even with other avatars selling for up to 18 ETH the last 24 hours. Before the typical money laundering/manipulation accusations come pouring in, The Hands…
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There’s every reason to be bullish on BTC on shorter timeframes as months of volatility compression look set to stop.

Shiba Inu, a cryptocurrency that is a spin-off of dog-themed crypto Dogecoin, is counting on massive token burning rates to stop its decline. Over the last 24 hours, over 45 million SHIB Tokens were burned During the same time frame, Shiba Inu failed to increase its trading price Analysts think the asset might “die” by the end of 2023 But despite the destruction of around 410 trillion of its supply since its introduction to the crypto space, SHIB failed to make any kind of rally as it continues to paint its charts in crimson. Over the last 24 hours, there were over 45 million Shiba Inu tokens that were burned. That accounted for an impressive 1,860% spike in the asset’s burn activity. This, however, failed to help the altcoin as it is price dropped during the same time period. At the time of this writing, the asset was trading at $0.00000997, based on tracking from Coingecko. It’s been down by 4.3% for the past week and 11.4% over the last 30 days. The crypto’s community pinned their hopes on reducing its supply to stop it from experiencing another decline. That did not happen and investors are now cautioned to pay attention to SHIB’s metrics to know where the novelty digital coin is headed right now. What Awaits SHIB In The Next Coming Days While traders are still buying Shiba Inu, they are not holding the asset for long. Instead, they are using it to trade. Related Reading: Litecoin Registers Over $1 Million In Whale Transactions For 2022 – Good News For LTC? Source: TradingView This is reflected in the crypto’s Accumulation and Distribution Line (ADL) which stood at 97.95 trillion. This level has helped the altcoin to establish the crucial $0.00000994 support marker. More bad news for holders as SHIB’s Directional Movement Index (DMI) hints at its apparent fall to bears once again. Moreover, the virtual currency’s Average Directional Index (ADI) at 23.58. If this number goes up over the next few days, it would put investors in a very difficult position to gain even just short-term profit. Meanwhile, prediction for Shiba Inu from Coincodex reveals the cryptocurrency will maintain its current trading price over the next five days but will eventually decline to $0.00000556 30 days from now. Shiba Inu Could Be Gone Next Year? Some experts are predicting that SHIB, as a cryptocurrency, will die by the end of 2023 and there are very good reasons this might prove true. For one, at present, there is no viable utility for the crypto asset and because of that, network activity and development won’t come as often as investors would want to. The altcoin is also experiencing high supply inflation rate at 7.93%. Despite having a circulating supply that is close to 1 quadrillion, coins available for trading are very limited. Furthermore, the burn mechanics that was thought to help in initiating price rallies for SHIB failed to meet the expectations of the asset’s community. Investors must keep a close watch of Shiba Inu as it might be closing in on being a “dead” cryptocurrency. Related Reading: Dogechain (DC) Notches 200% Hike In Trading Value In The Past Week SHIB total market cap at $5.46 billion on the daily chart | Featured image from Coopers Fire, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.

British billionaire investor Guy Hands has reckoned that Britain will become “the sick man of Europe” and may be forced to seek a bailout from the International Monetary Fund (IMF) if it does not renegotiate its Brexit deal. The billionaire insisted the United Kingdom’s current economic woes are the result of a poorly negotiated Brexit […]

Project Genesis 2.0 continued the joint effort of exploring blockchain opportunities for green investments.

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