VALR, a cryptocurrency exchange backed by American hedge fund Pantera Capital, has announced that its users will be able to trade meme coin Shiba Inu (SHIB) against the USDC Dollar (USDC) stablecoin in the coming weeks. On Aug. 16, VALR will add support for ETH/USDC and BNB/USDC trading pairs. In the near future, it will also allow trading XRP, Solana (SOL), and Avalance (AVAX) against the second-largest stablecoin. Read more on U.Today https://u.today/new-shiba-inu-shib-pair-to-be-listed-by-pantera-capital-backed-crypto-exchange |
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Scott Redler, chief strategist officer at T3 Trading Group, argues that the price of Ethereum (ETH) is on course to hit the $2,100 level. If Redler is correct, his bullish price target means that the second largest cryptocurrency is on track to spike by another 10%. The technical analyst is confident that the second largest cryptocurrency may march higher after it recently cleared the $1,792 level. Holding above that pivotal price point could subsequently open the door to the $2,100 level. In addition, Redler believes that Bitcoin is on its way to reclaiming the $26,000 level. Ethereum recently experienced a significant relief rally in the run-up to the highly anticipated Merge event. Goerli, the last of the three testnets, successfully transitioned to proof of stake earlier today, which was the final test before the Ethereum mainnet finally merges with the Beacon Chain in September. Leading cryptocurrencies also benefited from cooler-than-expected inflation data, together with U.S. stock and bond prices. Read more on U.Today https://u.today/ethereum-eth-on-its-way-to-2100-top-trader-says |
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Crypto markets are currently doing numbers that have not been seen in the last two months after the entire market cap tanked below $1 trillion, a far cry from the previously recorded $3 trillion. The trend in several coins, especially over the last 24 hours indicates an uptrend. Global crypto market cap currently stands at $1.16 trillion According to CoinMarketCap, global cryptocurrency market cap recorded over 6.63% percent increase over the past 24 hours which shoots it to $1.16 trillion, a level that has not been reached in the past 2 months. The market has also been largely green over the past day as BTC crossed $24k, trading as high as $24,660, a significant 6.41 increase, before reverting back to $24,460 as at press time. Second largest cryptocurrency ETH, also rallied 12.72 per cent. ETH’s price increase is attributed to the success of the Goereli testnet merge, the increasing anticipation of the main merge which is just a month away and positive cues from CPI data. ETH crossed $1900 in the last 24 hours but currently trades at $1884 per CoinMarketCap More Info https://coingape.com/cryptocurrency-market-cap-records-new-2-month-high/amp/ |
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Peter Schiff, one of the world’s most dedicated critics of crypto and Bitcoin is experiencing prolonged challenges with his bank. In a recent highlight of events, the American economist’s bank is set to be liquidated. This comes 6 weeks after Puerto Rican regulators suspended the institution. Schiff will remit $66.7M in deposits & $300k fines as part of the agreement Peter Schiff revealed on Tuesday that he has reached a deal with Puerto Rican authorities to liquidate his bank, Euro Pacific International Bank. This is according to a report by the New York Times. Amidst the probe launched, Puerto Rican authorities noted that the bank was insolvent. However, documents reveal that it did have cash. In the liquidation terms, Schiff assented to the remittance of $66.7M in deposits to the authorities. Additionally, Schiff is to use gold as a surrogate payment means for any cash deficit. As part of the liquidation agreement, he also consented to pay about $300,000 in fines. Puerto Rico’s banking commission will be releasing an official statement on the matter soon. Full Details https://coingape.com/peter-schiffs-bank-set-to-be-liquidated-will-he-finally-turn-to-bitcoin-btc/amp/ |
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With positive data coming on CPI data for July, the market responded bullishly giving signs of an altcoin bull run. Data showed that consumer prices grew 8.50% in July year on year, below expectations of 8.70%. The Consumer Price Index (CPI) data led to a bullish environment in the financial markets. While Bitcoin saw an upsurge of around 4.30%, Ethereum price rose nearly 7.50% after the CPI data release. Full Details https://coingape.com/altcoin-bull-run-upcoming-inflation-data-rejuvenates-hope-in-crypto/amp/ |
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With the release of U.S. inflation data, which was positively assessed by crypto market participants, Shiba Inu's SHIB saw a sharp rise in its quotations. At the same time, SHIB price growth exceeded the growth of its competitors in the sector, which can now be considered Dogecoin (DOGE) and BabyDoge (BabyDoge). Both of these coins were outpaced by SHIB by about 1%, which has seen a total growth of 4% since CPI publication. Thus, SHIB adds another green candle on the chart, which fits perfectly into the uptrend that the coin has been in since late July. It seems that SHIB is moving purposefully toward the important price level of $0.000014. After crossing it, SHIB quotations can go up to $0.00002, a level not seen since May of this year. Nevertheless, whether it happens or not will depend on news like today's inflation report and the overall market sentiment around it. Read more on U.Today https://u.today/shib-reacts-most-to-positive-inflation-report-with-immediate-spike |
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The most recent price performance of the famous Shiba Inu memecoin was quite a surprise for all traders on the market. SHIB token showed the lowest level of average daily volatility in the coin's entire trading history. The main reason behind it could be tied to the relatively low volume of token burnings. According to the daily chart of the token, SHIB has been moving in one straight line for the last seven days. The price of the asset has not changed by even 1% for a week, which is an unseen price performance for such a historically volatile asset like Shiba Inu. Read more on U.Today https://u.today/shiba-inu-shib-shows-unseen-price-performance |
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According to the Shibburn blockchain tracking service, the famous memecoin saw a rapid increase in the burn rate in the last 24 hours as users burned 130% more tokens than usual. The Twitter account of the service shared some interesting numbers. Since the announcement of the Shiba Inu crypto card, we saw a rally in the number of burned Shiba Inu tokens as users have been burning close to 1 billion Shiba Inu tokens per day, decreasing the supply massively, which is one of the main requirements for SHIB to have a chance for a reversal on the market. Because of the weekend, we saw a relatively low number of burned Shiba Inu tokens today as users have removed around 500 million tokens from circulation in the last 24 hours. But despite the number being below 1 billion SHIB, the total number of burned tokens today is still above average. Source https://www.shibburn.com/ Read more on U.Today https://u.today/shiba-inu-burn-rate-spikes-130 |
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In mid-June, U.Today reported the percentage of Shiba Inu's long-term holders as 19%, while that of midterm holders was then 77%, only 3% held onto their tokens for less than a month at the time. Back in late December 2021, it was reported that Shiba Inu holders were largely short and midterm holders, with the percentage of each category given as 14% and 86%, respectively. At that point, the percentage of long-term holders, or those that have held for more than a year, was zero. Fast forward to now, and the Shiba Inu holders' composition has shifted dramatically, with long-term owners now outnumbering short-term owners. This might imply a shift in investor focus from a short-term view to a long-term one. This comes as the crypto markets entered into a "bearish phase" or "crypto winter’’, in which altcoins saw between 70%-80% of their present peaks wiped off. Read full details on U.Today https://u.today/shiba-inu-long-term-holders-are-increasing-as-investors-shift-focus |
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Ethereum classic (ETC) is six years old this month and it’s seen some significant gains during the last 14 days. In fact, ever since the penciled-in date for The Merge was revealed, ETC has risen in value alongside its counterpart ethereum (ETH). While ETH has seen a significant double-digit 45.7% gain in two weeks, ETC has jumped 124.2% in that same period of time. Despite the 124% rise, year-to-date, ETC is still down 34% and around 80% lower than the crypto asset’s all-time high at $167 per unit. Full Details: https://news.bitcoin.com/ethereum-classic-climbs-124-in-2-weeks-hashrate-spikes-krw-captures-20-of-etcs-trade-volume/ |
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According to data provided by The TIE, a Bloomberg Terminal-esque startup that focuses on information services for digital assets, Cardano’s popularity on Twitter, a popular social media platform, has reached a six-month low. Notably, this lull in attention also coincided with a sharp decline in trading volumes, which are also sitting at their level in half a year. With that being said, the ADA price recently experienced a resurgence, adding roughly 10% over the past week alone. As reported by U.Today, the token briefly surpassed Ripple-affiliated XRP by market capitalization on Sunday. Read more on U.Today https://u.today/cardano-losing-luster-on-twitter-despite-looming-vasil-hard-fork |
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Fast-casual restaurant Chipotle has posted a picture with a giant Shiba Inu dog on top of one of its restaurants in an apparent reference to meme cryptocurrency Dogecoin. The whimsical picture attracted plenty of attention on Twitter because of the fans of the largest canine coin. As reported by U.Today, Chipotle recently announced that it would give away roughly $200,000 worth of cryptocurrencies as part of its new promotional campaign. Dogecoin fans can win up to $3,000 in their favorite cryptocurrencies until Saturday. On Sunday, $11,250 worth of DOGE will be up for grabs. The Denver, Colorado-based company started accepting Dogecoin, Shiba Inu, and a bunch of other cryptocurrencies in early June. Last year, Chipotle launched its first crypto campaign called "Burritos or Bitcoin." In November, Burger King, another major fast-food chain, also started giving away free crypto, putting Dogecoin on its menu. Other major companies have also attempted to capitalize on the canine craze, which took over the investment world in 2021. Unilever-owned Axe has already organized two Dogecoin-themed giveaways. Even high-end brands are not shying away from canine coins. In early May, Gucci started accepting Dogecoin and Shiba Inu alongside other major cryptocurrencies. Read more on U.Today https://u.today/dogecoin-takes-over-fast-food-giant-chipotle |
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American Cancer Society, a voluntary health organization that is focused on eliminating cancer, has revealed that Dogecoin is its third most donated cryptocurrency. The most popular meme coin accounts for 4% of all contributions received by the ACS. America’s largest non-governmental funder of cancer research started accepting Dogecoin donations back in May 2021. The organization makes it possible to make donations with a slew of different cryptocurrencies, including Dogecoin rival Shiba Inu, with the help of The Giving Block, a popular cryptocurrency donation solution. Last year, the ACS launched its Cancer Crypto Fund campaign in order to raise $1 million for advancing cancer research. The goal was eventually met earlier this year. The organization says that crypto philanthropy is already having a “real impact.” Read more on U.Today https://u.today/american-cancer-society-claims-dogecoin-donations-are-popular |
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The Shiba Inu team has announced a major partnership with The Third Floor (TTF), the busiest visualization company known for working on dozens of Marvel blockbusters. TTF will help the developers behind the popular meme coin to define virtual environments for the metaverse project, taking control of artistic development. The American company has worked on such projects as “Avengers: Infinity War,” “Wonder Woman,” “Thor: Ragnarok,” “Mad Max: Fury Road,” and other prominent movies. TTF has also worked on video games, including “Doom” and “Residential Evil 6” as well as episodic shows. Dane Smith, chief creative officer at TTF, said that the artistic-driven vision shared by the Shiba Inu community was “inspiring.” Smith believes that the metaverse can potentially offer an infinite number of possibilities and mixed-reality experiences. Read more on U.Today https://u.today/shiba-inu-partners-with-longtime-marvel-collaborators |
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Ki Young Ju, CEO of South Korean on-chain analytics resource CryptoQuant, has predicted that $30,000 will be the starting point of another bull run. Ju has pointed to the fact that most people are still underwater at current prices in response to a tweet about MicroStrategy's realized price being $30,664. The business intelligence firm recently announced that it had purchased another 480 coins. As reported by U.Today, Ju predicted a "big short squeeze" last week ahead of Bitcoin's recent rally. Earlier today, the largest cryptocurrency spiked to $23,855, the highest level since June 13. On Tuesday, Mark Newton, global head of technical strategy at Fundstrat Global Advisors, predicted that Bitcoin could potentially reclaim the $28,000 level before taking a breather. The cryptocurrency is now up by nearly 37% since hitting the local bottom of $17,592 on June 18 during a massive sell-off. Read more on U.Today https://u.today/analyst-names-starting-point-for-next-bitcoin-bull-run |
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According to Glassnode data shared by crypto analyst Will Clemente, Binance has overtaken Coinbase to rank as the largest exchange with the most BTC held. This narrative seems to be well supported. A recent Glassnode Insights report noted that Coinbase has experienced net outflows of Bitcoin for the past two years, totaling over 450,000 BTC. It states that the Coinbase BTC balance decreased in a consistent 10K to 30K BTC step function and adds that the reduction was caused by the transfer of these coins to new wallets unrelated to the Coinbase entity. Given their size, Glassnode makes the speculative claim that it could serve as custodial solutions for institutions. On the other hand, over the same period, Binance's net balance increased by about 300,000 BTC. As a result, Binance has now flipped Coinbase as the exchange with the largest Bitcoin supply, as highlighted by Will Clemente. In its weekly on-chain newsletter, Glassnode noted that there are many indications that a deep and complete capitulation has taken place as Bitcoin prices have now been trading below the Realized Price for more than a month. Numerous signals, therefore, suggest that the genuine bottom formation could be taking place. Read more on so visit U.Today https://u.today/binance-flips-coinbase-now-has-highest-btc-for-exchanges |
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Ethereum Beacon Chain Community Director Superphiz Shares a ‘Planning Timeline’ That Specifies a Date for The Merge Ethereum (ETH) supporters and the crypto community, in general, have been waiting a long time for developers to finalize the transition from a PoW to a PoS consensus model. Amid the wait, there have been some changes to the network that allow for a smoother transition. For instance, part of The Merge process started with the implementation of the network’s Beacon chain, an Ethereum PoS chain that runs parallel with the Ethereum PoW chain. The Beacon chain was shipped on the first day of December 2020. Statistics from the ETH 2.0 contract indicate that there’s roughly 13.1 million ETH locked today. In order to stake ether using the PoS system, a deposit of 32 ETH is required to start the staking process and, at the time of writing, there are 395,762 validators. When The Merge is officially implemented, PoW miners using the Ethash algorithm will be forced to mine a different blockchain like Ethereum Classic (ETC). Despite this upcoming change, ether miners have continued to dedicate hashrate toward the ETH network and on June 4, at block height 14,902,285, the hashrate tapped an all-time high. On that day, the hashrate reached 1,320 terahash per second (TH/s) or 1.32 petahash per second (PH/s). Today, the global Ethereum hashrate is lower, coasting along at 968.75 TH/s according to coinwarz.com metrics. Roughly around the same time 13 million ETH was deposited into the ETH 2.0 contract, Ethereum developers decided to delay the network’s difficulty bomb via the Gray Glacier update. Full Details: https://news.bitcoin.com/while-the-timeline-isnt-final-ethereum-could-implement-merge-on-september-19/ |
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