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Shiba inu surges 38% to record high as a petition count for Robinhood to list the dogecoin-inspired token tops 330,000

A Change.org petition requests people to sign up to "encourage Robinhood to be the first traditional brokerage" to list the shiba inu coin. Yuki Cheung/EyeEm/Getty Shiba inu hit an all-time high Wednesday after a petition urging Robinhood to list the coin topped 330,000. Robinhood is waiting for regulatory clarity to add more coins, CEO Vlad Tenev said Tuesday. The meme token's value fell on Monday after Elon Musk revealed he doesn't hold shiba inu. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Shiba inu hit a fresh record Wednesday on growing calls for trading app Robinhood to add the coin to its roster of cryptocurrencies.The token surged 38% to $0.00005763 as of 3:30 a.m. ET, according to data from CoinGecko, taking its gains over the past month to nearly 710%. With a market value of $28 billion, it is now the 11th biggest crypto asset.An online petition, created by Change.org user called Tristan Luke in May, requests people to sign up to "encourage Robinhood to be the first traditional brokerage" to list the shiba inu coin.The petition's goal is to reach 500,000 people. At the time of writing, at least 332,698 had signed up.Shiba inu is already available to trade on other platforms including Coinbase, Binance, eToro, Crypto.com, Atomic Wallet, and KuCoin. Meanwhile, users have only seven cryptocurrency options on Robinhood, including bitcoin, dogecoin, and ether."We feel very, very good about the coins that we're currently listing on our platform," Robinhood CEO Vlad Tenev said in a Q3 earnings call on Tuesday. "And for any new coins that we add, we want to feel equally, if not more, good. So we're going to be very careful. We're a regulated entity, and we're hopeful to get some clarity soon on coins."Shiba inu, which is a dogecoin spin-off, rose more than 20% on Tuesday after an anonymous crypto whale bought 276.6 billion tokens for about $11.5 million. As the third most Googled cryptocurrency in 2021, it's become impossible to ignore.An Elon Musk tweet about his Shiba Inu puppy Floki supercharged the meme token's run higher this month. But the coin's value slid briefly after Musk revealed he doesn't in fact have any personal investment in it.Read More: SIGN UP FOR OUR EVENT ON NOVEMBER 17: The future of crypto and its path to mass adoptionRead the original article on Business Insider.....»»

Category: dealsSource: nytOct 27th, 2021

Shiba inu surges 38% to record high as a petition count for Robinhood to list the dogecoin-inspired token tops 330,000

A Change.org petition requests people to sign up to "encourage Robinhood to be the first traditional brokerage" to list the shiba inu coin. Yuki Cheung/EyeEm/Getty Shiba inu hit an all-time high Wednesday after a petition urging Robinhood to list the coin topped 330,000. Robinhood is waiting for regulatory clarity to add more coins, CEO Vlad Tenev said Tuesday. The meme token's value fell on Monday after Elon Musk revealed he doesn't hold shiba inu. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Shiba inu hit a fresh record Wednesday on growing calls for trading app Robinhood to add the coin to its roster of cryptocurrencies.The token surged 38% to $0.00005763 as of 3:30 a.m. ET, according to data from CoinGecko, taking its gains over the past month to nearly 710%. With a market value of $28 billion, it is now the 11th biggest crypto asset.An online petition, created by Change.org user called Tristan Luke in May, requests people to sign up to "encourage Robinhood to be the first traditional brokerage" to list the shiba inu coin.The petition's goal is to reach 500,000 people. At the time of writing, at least 332,698 had signed up.Shiba inu is already available to trade on other platforms including Coinbase, Binance, eToro, Crypto.com, Atomic Wallet, and KuCoin. Meanwhile, users have only seven cryptocurrency options on Robinhood, including bitcoin, dogecoin, and ether."We feel very, very good about the coins that we're currently listing on our platform," Robinhood CEO Vlad Tenev said in a Q3 earnings call on Tuesday. "And for any new coins that we add, we want to feel equally, if not more, good. So we're going to be very careful. We're a regulated entity, and we're hopeful to get some clarity soon on coins."Shiba inu, which is a dogecoin spin-off, rose more than 20% on Tuesday after an anonymous crypto whale bought 276.6 billion tokens for about $11.5 million. As the third most Googled cryptocurrency in 2021, it's become impossible to ignore.An Elon Musk tweet about his Shiba Inu puppy Floki supercharged the meme token's run higher this month. But the coin's value slid briefly after Musk revealed he doesn't in fact have any personal investment in it.Read More: SIGN UP FOR OUR EVENT ON NOVEMBER 17: The future of crypto and its path to mass adoptionRead the original article on Business Insider.....»»

Category: dealsSource: nytOct 27th, 2021

Robinhood users missed shiba inu"s 89-million-percent rally over the past year, with the token still unavailable to trade on the platform

The ethereum-based dogecoin alternative has become the 10th most valuable cryptocurrency. The shiba inu breed is a muse in the crypto world. Getty Images Shiba inu has seen astronomical gains over the last year, but Robinhood users have missed out. The meme coin is unlisted on the trading platform, but an online petition is aiming to change that status. Robinhood's chief said the platform is waiting for more regulatory clarity on further coin listings. The price of the shiba inu coin has sprinted up exponentially over the last 12 months but people who exclusively use Robinhood have missed out on the gains as the meme cryptocurrency remains unlisted on the trading platform. The ethereum-based dogecoin alternative has shot up by 88,868,321% to $0.00006754 Friday from $0.000000000076 a year ago and that's after it pulled back from a fresh record.On Wednesday, a push to a new high of $0.00008616 helped tip the token to the 10th spot on CoinGecko's list of the biggest cryptocurrencies by market capitalization. The token's value has leapt more than 1,000% so far in October alone.The soaring gains allowed one crypto investor to turn about $8,000 into $5.7 billion by buying trillions of shiba inu coin shortly after it debuted in August 2020.Shiba inu was thrust into focus this week, rising more than 20% on Tuesday after an anonymous crypto whale bought 276.6 billion tokens for about $11.5 million. It popped up to a fresh record the following day, as an online petition urging Robinhood to "be the first traditional brokerage" picked up support. A Change.org user called Tristan Luke put up the online petition in May with the goal of gathering 500,000 signatures in support of a shiba inu listing. It had at least 393,824 signatures as of Thursday. But Robinhood CEO Vlad Tenev said the company is waiting for regulatory clarity to add more coins to the platform. Earlier this month, shiba inu vaulted higher after Tesla chief Musk tweeted about his Shiba Inu dog, Floki. But the coin's price briefly tumbled after Musk revealed he doesn't hold an investment in it. Separately, there was no indication Musk is involved in floki inu, a cryptocurrency inspired by Musk's dog, with that coin's backers engaging in an advertising blitz launched in London.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 29th, 2021

Robinhood users missed shiba inu"s 85-million-percent rally over the past year, with the token still unavailable to trade on the platform

The ethereum-based dogecoin alternative has shot up by roughly 85,000,000% to $0.00006691 Thursday from $0.000000000079 a year ago. The Shiba Inu breed is a muse in the crypto world. Getty Images Shiba inu has has seen astronomical gains over the last year, but Robinhood users have missed out. The meme coin is unlisted on the trading platform, but an online petition is aiming to change that status. Robinhood's chief said the platform is waiting for more regulatory clarity on further coin listings. The price of the Shiba inu coin has sprinted up exponentially over the last 12 months but people who exclusively use Robinhood have missed out on the gains as the meme cryptocurrency remains unlisted on the trading platform. The ethereum-based dogecoin alternative has shot up by roughly 85,000,000% to $0.00006691 Thursday from $0.000000000079 a year ago. And that's after it pulled back from a fresh record.On Wednesday, a push to a new high of $0.00008616 helped tip the token to the 10th spot on CoinGecko's list of the biggest cryptocurrencies by market capitalization. The token's value has leapt more than 1,000% so far in October alone.The soaring gains allowed one crypto investor to turn about $8,000 into $5.7 billion by buying trillions of shiba inu coin shortly after it debuted in August 2020.Favored by the likes of billionaire businessmen Elon Musk and Mark Cuban, shiba inu was thrust into focus this week, rising more than 20% on Tuesday after an anonymous crypto whale bought 276.6 billion tokens for about $11.5 million. It popped up to a fresh record the following day, as an online petition urging Robinhood to "be the first traditional brokerage" picked up support. A Change.org user called Tristan Luke put up the online petition in May with the goal of gathering 500,000 signatures in support of a shiba inu listing. It had at least 393,824 signatures as of Thursday. But Robinhood CEO Vlad Tenev said the company is waiting for regulatory clarity to add more coins to the platform. Earlier this month, shiba inu vaulted higher after Tesla chief Musk tweeted about his Shiba Inu dog, Floki. But the coin's price briefly tumbled after Musk revealed he doesn't hold an investment in it. Separately, there was no indication Musk is involved in Floki Inu, a cryptocurrency inspired by Musk's dog, with that coin's backers engaging in an advertising blitz launched in London.Read the original article on Business Insider.....»»

Category: smallbizSource: nytOct 28th, 2021

Crypto exchange Kraken promises to list shiba inu on Tuesday, and asks the SHIBarmy to vote on it

Kraken said it would list record-breaking meme token shiba inu on the online exchange on Tuesday if the idea got 2,000 Twitter "likes". Shiba Inu Imajin No Asking Kraken said it would list shiba inu on its platform on Tuesday if the idea got 2,000 Twitter "likes". The SHIBarmy of fans quickly hit the target, but the coin has not yet appeared on the crypto exchange. The dogecoin-inspired token's price has shot up recently, thanks in part to Elon Musk's tweets. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Crypto exchange Kraken plans to list shiba inu on its trading platform on Tuesday, it signaled by asking fans of the meme coin to vote on Twitter.The company called on the token's fans to back the idea in a poll posted to Twitter Monday. Kraken product lead Brian Hoffman would add shiba inu to its cryptocurrency roster if it got 2,000 "likes," it said."@brianchoffman said if we get 2,000 likes we will list $SHIB tomorrow - but he doesn't think we can do it. #SHIBArmy where you at?" the company said in the tweet.The SHIBarmy - the die-hard fans who have driven the token's record-setting rise - showed up in full force with more than 58,700 likes and 14,500 retweets as of Tuesday morning. They hit the target in less than 20 minutes.However, shiba inu did not appear to have been added to Kraken's platform yet. The online crypto exchange, one of the biggest in the world, already lists 93 assets from market leader bitcoin to popular altcoins cardano and solano.The dogecoin-inspired token's fans on Twitter urged people to "make some noise" for Kraken, welcomed newcomers to the army and said they expect shiba inu to rally more.Investors have been riding high on shiba inu's epic recent rise. The dogecoin-inspired token's price has risen more than 900% in the past month, lifted by the enthusiasm of fans and in part by tweets from Tesla CEO Elon Musk, who owns a shiba inu puppy. On Tuesday, though, its price was down 2.4% from 24 hours ago, to stand at $0.00006973.Not everyone in the crypto space thinks shiba inu is a great investment. "Memes are more like lottery tickets than an investment," James Butterfill, investment strategist at crypto product platform CoinShares, told Insider. He said shiba inu completely lacks any fundamentals or potential end-use, and therefore should not be taken seriously."We believe it is very difficult to grasp when the meme will capture the imagination of investors, and should therefore be looked at with extreme caution," he added.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 2nd, 2021

What is shiba inu coin? Is there anything real behind its blistering rally, or is it pure hype?

Shiba inu has gained 710% in the past month alone and looks to unseat dogecoin as the 10th largest crypto assets by market valuation. Shiba Inu dog. Getty Images Most altcoins sold off Wednesday but shiba inu continues to set new record highs. The meme token has gained 710% in the past month alone and looks to unseat dogecoin for the top 10 largest crypto spot. Shiba inu was founded in August 2020 and now has 1 quadrillion coins in circulation. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Altcoin season is upon us again, though most are selling off Wednesday, and one unsuspecting frontrunner continues to set new records: shiba inu. The meme token, which seemingly vaulted out of nowhere, is now looking to takeover dogecoin's spot to become the 10th largest digital assets in the cryptocurrency ecosystem. Shiba inu surged as much as 45% Wednesday to a fresh intraday high of $0.00006220, according to data from CoinGecko, taking its gains over the past month to nearly 710%. With a market value of $30.9 million, it is the 11th biggest crypto asset.But what is shiba inu in the first place?Shiba inu is an ethereum-based alternative to dogecoin, a meme token favored by the likes of Elon Musk and Mark Cuban. It even calls itself a dogecoin killer and, like dogecoin, features the Shiba Inu dog as its mascot as well. The token was founded in August 2020 by someone called Ryoshi whose goal was to move away from "rigid social structures and traditional mindsets," according to its 28-page white paper, or in shiba inu's case, woof paper.Instead, shiba inu wanted to be "an experiment in decentralized spontaneous community building" and to give power back to the "average person."So why is it rallying?A couple of reasons. On Wednesday, the rise in price could be attributed to an online petition on Change.org that's gotten more than 300,000 signatures calling for Robinhood to be the first traditional brokerage to list the shiba inu coin.Recently, shiba inu also released a series of non-fungible tokens called "shiboshis" that are written on the ethereum blockchain. Some of these feature shiba inus wearing a party hat or having laser eyes. And in May, the coin made headlines when ethereum co-founder Vitalik Buterin donated 50 trillion (then worth around $1 billion) to a crypto-based COVID-19 relief fund for India. Beyond that, it's really just the Shib Army just rallying behind the coin."The crypto universe is full of coins that represent diverse use cases and themes," John Wu, president of Ava Labs, the team behind altcoin avalanche, told Insider.And meme tokens, he said, "are driven by culture and represent an underlying theme or movement, rather than special technical use cases."So does that mean shiba inu has no real use case?It is tough to say - for now at least. Wu said shiba inu "wasn't built with a sophisticated use case like borrowing, lending, trading, or gaming," but it is trying to be useful.Since shiba inu is written on the ethereum blockchain, this may suggest it has more advanced smart-contracting capabilities, Wu said. One example is Shibaswap, a platform launched in July 2021 that aims to provide utility for the token in terms of staking and rewards.It is worth noting that shiba inu wasn't designed to have a limited supply and currently has 1 quadrillion coins in circulation, while bitcoin for instance is capped at 21 million. How much is a shiba inu?If you think dogecoin at $0.244775 is cheap, wait until you hear how much shiba inu is. The coin trades for just $0.00006289. So owning 1 million of shiba inu coins will only amount to $62.89.But we already know nominal price isn't the best way to measure the attractiveness of a crypto. Instead, it's the future use cases of the asset as well as the potential it brings. And having a passionate community behind it doesn't hurt either. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 27th, 2021

As bitcoin enters a bear market, these are the 5 best performing cryptocurrencies over the past week

Keeping an eye on the weekly winners can help investors identify which cryptocurrencies are beginning to see more traction in the crypto community. CryptoBarcroft MediaWhile bitcoin and ether dominate the headlines, there are more than 14,000 other crypto coins.With less liquidity and more volatility, these alternative cryptocurrencies can deliver investors massive losses or gains in a short period of time.These are the five best performing cryptocurrencies over the past week, according to data from CoinMarketCap.Bitcoin entered a bear market on Friday, falling more than 20% from its record $69,000 high as concerns of a new COVID-19 variant spread across markets. But other cryptocurrencies are performing just fine despite the risk-off environment.With 14,865 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US exchange-listed stocks. That large amount makes it nearly impossible to keep track of all the big movers in the crypto sector outside of well known coins like bitcoin, ether, and dogecoin.The surge in new crypto coins has come amid a massive bull market for the space, with a recent rally in bitcoin helping catapult the sector to a near-$3 trillion market valuation. But the rise is also being driven by smaller coins that have seen extraordinary surges this year, including solana, cardano, and shiba inu. With less liquidity and more volatility, these alternative cryptocurrencies can deliver investors massive losses or gains in a short period of time. Shiba inu is down about 40% from its recent high, despite being up millions of percentage points year-to-date. Meanwhile, squid game token fell 99% in a single day after delivering swift gains of 75,000%.Keeping an eye on the weekly winners can help investors identify which coins are beginning to see increased traction in the crypto community.These are the five best performing cryptocurrencies with a market value of more than $1 billion over the past week despite a decline in bitcoin and ether, according to data from CoinMarketCap.5. Crypto.com CoinSymbol: CROMarket Value: $17.4 billion7-Day Performance: 33.3%CoinMarketCap4. Basic Attention TokenSymbol: BATMarket Value: $2.2 billion7-Day Performance: 36.5%CoinMarketCap3. Zcash Symbol: ZECMarket Value: $3.3 billion7-Day Performance: 59.5%CoinMarketCap2. The SandboxSymbol: SANDMarket Value: $6.3 billion7-Day Performance: 67.2%CoinMarketCap1. GalaSymbol: GALAMarket Value: $5.0 billion7-Day Performance: 216.8%CoinMarketCapRead the original article on Business Insider.....»»

Category: personnelSource: nytNov 26th, 2021

These are the 5 best performing cryptocurrencies over the past week

Keeping an eye on the weekly winners can help investors identify which cryptocurrencies are beginning to see more traction in the crypto community. Crypto coins. Nurphoto While bitcoin and ether dominate the headlines, there are more than 14,000 other crypto coins.With less liquidity and more volatility, these alternative cryptocurrencies can deliver investors massive losses or gains in a short period of time.These are the five best performing cryptocurrencies over the past week, according to data from CoinMarketCap.With more than 14,000 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US exchange-listed stocks.That large amount makes it nearly impossible to keep track of all the big movers in the crypto sector outside of well known coins like bitcoin, ether, and dogecoin.The surge in new crypto coins has come amid a massive bull market for the space, with a record run in bitcoin helping catapult the sector to a near-$3 trillion market valuation. But the rise is also being driven by smaller coins that have seen extraordinary surges this year, including solana, cardano, and shiba inu. With less liquidity and more volatility, these alternative cryptocurrencies can deliver investors massive losses or gains in a short period of time. Shiba inu is down about 40% from its recent high, despite being up millions of percentage points year-to-date. Meanwhile, squid game token fell 99% in a single day after delivering swift gains of 75,000%.Keeping an eye on the weekly winners can help investors identify which coins are beginning to see increased traction in the crypto community.These are the five best performing cryptocurrencies with a market value of more than $1 billion over the past week, according to data from CoinMarketCap.5. IoTeXSymbol: IOTXMarket Value: $1.50 billion7-Day Performance: 38.6% CoinMarketCap 4. HeliumSymbol: HNTMarket Value: $5.05 billion7-Day Performance: 56.6% CoinMarketCap 3. LivepeerSymbol: LPTMarket Value: $1.25 billion7-Day Performance: 81.9% CoinMarketCap 2. KadenaSymbol: KDAMarket Value: $3.33 billion7-Day Performance: 86.2% CoinMarketCap 1. LoopringSymbol: LRCMarket Value: $3.82 billion7-Day Performance: 114.3% CoiinMarketCap Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 12th, 2021

AMC boss says shiba inu is next on its "hit parade" in figuring out how to take the crypto for payments

AMC announced in an earnings call on Monday that it was looking into how it could accept shiba inu payments in it's cinema chains. Shiba Inu Imajin No Asking AMC is exploring taking shiba inu as a currency after a Twitter poll backed the meme coin, CEO Adam Aron said Monday. The movie theater chain is on track to accept bitcoin and ethereum, and is working on dogecoin, he said on an earnings call. Aron confirmed AMC is looking into launching its own cryptocurrency and is talking to "third parties" about it. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. AMC Entertainment is looking at adding shiba inu to the roster of cryptocurrencies it wants to accept, after listening to wishes of the SHIBarmy.In a recent Twitter poll, CEO Adam Aron asked whether the movie theater chain should explore taking the meme token for online payments, and 81% backed the idea."A lot of you voted, and a lot of you voted yes, and we are now figuring out how we can take shiba inu as a currency," Aron said on an earnings call Monday."That's the next one on our cryptocurrency hit parade." Thanks to the "SHIBarmy" - fervent fans of shiba inu - the dogecoin-inspired coin soared in price at the end of October, around when the Twitter poll went live. Its price has since retreated, but it is still up 102% over the last month, according to Coinbase data.Its rise was propelled by developments such as the huge support shown in a petition urging Robinhood to list the token on its retail trading platform. Some market observers are cautious about shiba inu, given its limited use cases and the risk of its being a scam.Social-media savvy Aron has embraced AMC's fame as a meme stock and appealed directly to the retail traders who propelled it higher at the height of the pandemic.The company has already promised to accept bitcoin, ethereum, litecoin and bitcoin cash for online payments before the end of the year in December. Aron said the chain was on track to meet that deadline, and it is encoding cryptocurrency for its mobile app and website right now."We think we'll be able to launch the acceptance of dogecoin in the first quarter of '22, just a few months from now - again, on our website and smartphone app," he said.The US's largest cinema chain has already started listing dogecoin as a payment option for AMC gift cards.Aron also gave an update on the idea of AMC issuing its own cryptocurrency, saying that in the past few months, it has been "exploring with third parties" whether it is feasible.The CEO said the company believes it has figured out ways where it doesn't have to hold cryptocurrency on its balance sheet. "So we're not taking increased balance sheet risk with all this potential acceptance of cryptocurrency," he said.The social-media savvy CEO has embraced AMC's fame as a meme stock and appealed directly to the retail traders who propelled it higher at the height of the pandemic. AMC shares were up more than 10% at $40.35 on Tuesday.Read the original article on Business Insider.....»»

Category: dealsSource: nytNov 9th, 2021

A tale of two altcoins: Shiba inu"s star fades, while solana shines, as investors favor real-use tokens

Investors have shunned meme tokens like shiba inu in favor of cryptocurrencies with more real-life use cases, such as solana and ether. Shiba inu and sol id-work/ Getty Images and Skorzewiak/ Shutterstock Shiba inu fell by as much as 40% over the last week, while DeFi token solana has climbed 21%. Investors have started turning away from meme coins to those that have real use cases. This week, investors were unnerved by a scam in a Squid Game-themed token and by shiba inu whale activity. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Shiba inu lost some of its recent appeal this week, falling by as much as 40% over the week in the seven days to Friday. Investors have shunned meme tokens in favor of cryptocurrencies with more real-life use cases, such as solana and ether.The dogecoin-inspired meme coin was down around 5% on the day to $0.00005164, having touched a low this week of $0.00004130 on the Coinbase exchange, marking a drop of almost 40% week-on-week.The coin's rapid rise, coupled with developments elsewhere in the crypto space that have lured investors into more established tokens, unleashed a wave of profit-taking, particularly in light of the fact that most shiba inu in circulation is concentrated in very few hands - meaning there is a strong chance of even deeper losses."There are a load of shib coins out there to sell and whales with big bags to offload. The fact that a few whales hold much of the supply can actually make it easy to push prices up, but of course small-time traders will never know when whales will sell," Ali Beikverdi, CEO and co-founder of bitHolla, an exchange software company said. By way of example, shiba inu holders were unnerved earlier this week when the second biggest shib address started moving $2.3 billion worth of the coin from its wallet. That wallet only accounts for 7% of shiba inu in circulation, while the largest holds 41%, according to Coinmarketcap data.Added to that, a blistering rally in a "Squid Game" token - inspired by the hit Korean series on Netflix - ended in that coin crashing to 0 from closer to $3,000 in hours. This event rekindled concern over the potential for scams in the crypto market."Indeed, investors don't like to lose money. What happened with the Squid Game token caused a high level of discomfort amongst investors," Ryan Wilkinson, Head of Product at Blockasset.co, an NFT marketplace built on the solana network said. Meanwhile, investors have flocked to coins with real use cases, such as those linked to decentralized finance and non-fungible tokens, like ether, solana and avalanche.Solana's sol token has gained 21% so far this week and hit record highs above $250, while avalanche's avax has risen 18% this week and ether - the second most-traded cryptocurrency after bitcoin - has gained 1.6%."Solana is undoubtedly one of the hottest blockchains today, as its usability and eco-friendliness are reverberating across the blockchain industry," Wilkinson said. "The number of decentralized finance (DeFi) applications and non-fungible tokens (NFT) being floated atop the blockchain is the ultimate source of boosted demand for sol," he said.Ether benefitted from the announcement of the launch of micro futures by CME - the biggest derivatives exchange - as well as the growing momentum around NFTs and the metaverse, much of which runs on ethereum. Regardless of the scandals and scams that seem to follow meme cryptos and social tokens, at times, some market watchers believe these more speculative coins will persist. "Meme tokens will have a big part in the cryptocurrency space," Marcus Sotiriou, sales trader at digital asset broker GlobalBlock, said. "We've had evidence with coins like DOGE and SHIB that this is the case. In a world where we are all connected by social media, these communities can be very powerful, and they take advantage of network effects." Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 5th, 2021

Shiba Inu coin is vying with dogecoin to be the 10th biggest cryptocurrency

The meme-inspired coin surpassed dogecoin in market capitalization, based on one company's metrics. Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Shiba inu coin is eyeing a spot among the top 10 largest cryptocurrencies amid an epic rally. CoinGecko data showed the meme-inspired coin overtook dogecoin in terms of market capitalization. The meme coin has risen about 133% in the last 7 days, stoked by retail investors in the #SHIBarmy. Shiba inu coin is vying with dogecoin for a spot in the list of top 10 cryptocurrencies as an army of retail traders take the token to new heights. On Twitter, the hashtag #SHIBarmy trended as fans of the coin cheered it on as it narrowed the gap with dogecoin for the 10th largest cryptocurrency by market capitalization. #SHIBDELETEAZERO also trended on Twitter with about 9,000 tweets. One user known as the "The Shiba Boy," wrote: "We are 1 away from taking over!"Not so long later, the coin did just that, according to one site's measurements. CoinGecko showed Shiba Inu moved into the ninth position - edging out dogecoin and USD coin - with an approximate $33 billion market cap. Data from CoinMarketCap, however, showed the coin was still about $6 billion away from the two aforementioned cryptocurrencies. In the last seven days, shiba inu coin, named after the meme-famous breed of dog, has rallied 133%, according to CoinMarketCap data. Much of the rally came Wednesday alone as the cryptocurrency rose 38% to $0.0000657 at 1:11 p.m. in New York.Investor enthusiasm also stemmed from a rallying cry from thousands of retail traders asking Robinhood to add shiba inu trading to its crypto platform.An online petition has been signed by more than 340,000 people, according to change.org. Robinhood CEO Vlad Tenev, however, told investors on its third-quarter earnings call that it was satisfied with the current coins listed and was awaiting further regulatory clarity. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 27th, 2021

Shiba Inu coin is one spot away from replacing dogecoin as the 10th biggest cryptocurrency as #SHIBarmy rallies bulls

The meme-inspired coin is about $7 billion away from being the 10th biggest cryptocurrency, Coinmarketcap data shows. Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Pavlo Gonchar/SOPA Images/LightRocket via Getty Images Shiba inu coin is eyeing a spot among the top 10 largest cryptocurrencies amid an epic rally. The meme coin has risen about 125% in the last 7 days, stoked by retail investors in the #SHIBarmy. It's about $7 billion behind its predecessor dogecoin in terms of market capitalization. Shiba inu coin is nearing a spot in the list of top 10 cryptocurrencies as an army of retail traders take the token to new heights. On Twitter, the hashtag #SHIBarmy trended as fans of the coin cheered it on as it narrowed the gap with dogecoin as the 10th largest cryptocurrency by market capitalization. #SHIBDELETEAZERO also trended on Twitter with about 9,000 tweets. "We are 1 away from taking over!" wrote the "The Shiba Boy," echoing similar sentiments from others in the so-called SHIB army. In the last seven days, the cryptocurrency, named after the meme-famous breed of dog, has rallied 125.35%, according to CoinMarketCap data. Much of the rally came Wednesday alone as the cryptocurrency rose 42% to $0.00006291 at 10:24 a.m. in New York.The rally puts the coin in striking distance of the token that inspired it - dogecoin- which currently sits in the 10th spot with an approximate $31 billion market valuation. Shiba inu coin is about $7 billion away from that, CoinMarketCap data show. Investor enthusiasm also stemmed from a rallying cry from thousands of retail traders asking Robinhood to add shiba inu trading to its crypto platform. The online petition has been signed by more than 340,000 people, according to change.org. Robinhood CEO Vlad Tenev, however, told investors on its third-quarter earnings call that it was satisfied with the current coins listed and was awaiting further regulatory clarity. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 27th, 2021

Meme Crypto SHIB Hits All-Time High Value In 24 Hours

The popular meme cryptocurrency Shiba Inu (SHIB) hit a new all-time high of $ 0.00004442, which represents an increase of more than 40% in 24 hours, while surpassing 16.5 billion in market capitalization. Q3 2021 hedge fund letters, conferences and more SHIB Hits Record In the early hours of Sunday, the shiba inu cryptocurrency registered […] The popular meme cryptocurrency Shiba Inu (SHIB) hit a new all-time high of $ 0.00004442, which represents an increase of more than 40% in 24 hours, while surpassing 16.5 billion in market capitalization. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more SHIB Hits Record In the early hours of Sunday, the shiba inu cryptocurrency registered a new all-time high of $ 0.00004442. This new ATH represents a growth of more than 40% in 24 hours and 60% in 7 days, according to data from Coin Gecko. SHIB's new all-time high also coincides with significant growth in Shiba Inu's market capitalization. At the same time, the cryptocurrency meme hit an all-time high of $16.4 billion in market capitalization, after surging nearly $4 billion in the last 24 hours. The new record follows a series of milestones recently reached by the cryptocurrency meme. A few days ago BeInCrypto reported that SHIB had eclipsed all other altcoins after a major rally, including those in the top 10 for market capitalization. On October 11, SHIB garnered 419 mentions in one hour, while bitcoin came in second with 307. This was followed by ethereum, with 188 mentions, and DOGE, with 134 mentions. One element that prompted this new all-time high is the recent listing of SHIB in the Robinhood Markets Inc (NASDAQ: HOOD) trading app. At Musk’s Mercy As reported by CNN, the token has gained more than 45 million percent in the past year. After the peak, however, “It later fell about 10% from its all-time high after Tesla CEO Elon Musk –who is a big fan of dogecoin– tweeted that he does not own any shiba coin. Musk's tweets have frequently moved crypto markets.” Three weeks ago, on October 4, Musk tweeted a photo of his dog –a Shiba Inu– and the digital currency soared 238% in four days. Dogecoin, the other cryptocurrency based on a meme also affected by Musk’s tweets –which had reached $0.27– closed the day at $0.24. The main cryptocurrency by market capitalization –of which Musk acknowledged having tokens– is slightly increasing its price: bitcoin closed on Sunday 24 at around 60,000 and currently stands at 62,000, which represents a 2.84% growth. Overall, the crypto market has had an excellent week, having surpassed $ 2.6 trillion and with bitcoin and ethereum hitting all-time highs. Updated on Oct 25, 2021, 9:46 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkOct 25th, 2021

"The Big Short" investor Michael Burry dismisses shiba inu coin as "pointless" - noting the dogecoin spinoff"s supply exceeds 1 quadrillion coins

Michael Burry underlined the scale of the meme token's supply by noting that a quadrillion seconds is about 32 million years. Michael Burry. Bloomberg TV Michael Burry tweeted about shiba inu, the dogecoin-inspired cryptocurrency. "The Big Short" investor dismissed the meme token, noting its supply exceeds 1 quadrillion coins. Burry has warned against buying crypto, labeling bitcoin a speculative, debt-fueled bubble. Michael Burry, the investor of "The Big Short" fame, isn't a fan of shiba inu. He dismissed the dogecoin-inspired cryptocurrency, which has more than tripled in price over the past week, because there are too many of the coins in circulation.The Scion Asset Management boss shared Coinbase's description of the meme token in a now-deleted tweet, highlighting that its supply exceeds a quadrillion coins."Just saying, one quadrillion seconds is about 32 million years," he tweeted. "One quadrillion days is 2.7 trillion years, or ALL of TIME, from the beginning of the universe, multiplied by 71,000. In other words, pointless."Burry's tweet suggests he doesn't view shiba inu as a compelling investment because the vast amount of coins in existence limits its possible price appreciation.The hedge fund manager has been ringing the alarm on crypto this year. He described bitcoin as a "speculative bubble" fueled by huge amounts of leverage.In addition, Burry questioned its long-term prospects, given the threat of government intervention. He also ridiculed dogecoin's surge to a record-high price, labeling it "a doge's breakfast."Moreover, Burry has compared the hype around bitcoin, meme stocks, and other popular assets to previous bubbles in housing and internet companies. He warned they've been "driven by speculative fervor to insane heights from which the fall will be dramatic and painful."Burry is best known for his lucrative bet against the mid-2000s housing bubble, which was immortalized in the book and movie "The Big Short."He also inadvertently paved the way for the meme-stock boom this year by investing in GameStop in 2019, and his latest portfolio update showed he was betting against Elon Musk's Tesla and Cathie Wood's Ark Invest.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 9th, 2021

A little known altcoin called omicron is surging as the new coronavirus variant makes headlines

The omicron altcoin, whose ticker is omic, soared as much as 960% after the World Health Organization labeled the new variant. Getty Images A little-known altcoin called omicron surged to a record high as the new coronavirus variant make headlines. The price of omicron, whose ticker is omic, peaked at $689.12 on Monday, according to CoinGecko data. The altcoin has no connection to the new strain other than its shared name. A little-known altcoin called omicron surged to a record high as the new coronavirus variant with the same name made headlines.The price of omicron, whose ticker is omic, peaked at $689.12 on Monday, according to CoinGecko data. That means the coin soared as much as 960% from the time the World Health Organization labeled the new variant Friday, when it was hovering just around $65.On Monday, the digital asset was trading at $162.14 as of 8:31 a.m. ET, roughly 76% lower from its all-time high.The altcoin has no connection to the B.1.1.529 strain other than its shared name, the 15th letter of the Greek alphabet.The coin, a decentralized reserve currency protocol that runs on the ethereum layer-two network arbitrum, is backed by several assets, such as stablecoin USD coin, according to an explainer. It is listed solely on decentralized exchange SushiSwap.And unlike other coins that were borne out of phenomenal events — such as the Squid Game token — omicron already existed before the emergence of the COVID-19 variant last week.CoinGecko, for instance, has been tracking it since November 11. The crypto data aggregator, however, does not provide further details of the coin's circulating supply or market capitalization.While the coin has a website, a Twitter account (joined October 2021), and a discord account, little else is known about it."Omicron is a clear sign of a bubble, and while it might be a good way to make a quick return, it is not a good buying option for the long-term investors," Freddie Evans, sales trader at digital asset broker GlobalBlock told Insider Monday. Altcoins, in general, have rallied in the past weeks as retail investors direct their attention to newer and lesser-known coins, such as shiba inu and dogecoin, which are increasingly becoming popular for their hefty gains compared to more established assets, like bitcoin.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 29th, 2021

The biggest gains in value and popularity among cryptocurrencies have been led by altcoins this year — here are 5 biggest winners in 2021

Shiba inu topped BrokerChooser's analysis of the biggest gainers in price and popularity terms in the crypto market. Jakub Porzycki/NurPhoto via Getty Images Altcoins in 2021 dominated in value and popularity growth in the now-$2.6 trillion cryptocurrency market.  Shiba inu was the top performer in both categories, according to analysis by BrokerChooser.  Meme token dogecoin and ethereum rival solana also made the list.  Altcoins have been a major driver of the booming cryptocurrency market, which briefly topped a $3 trillion capitalization in 2021, with shiba inu and others leading in value and popularity growth, according to analysis published Monday. Bitcoin remains the biggest cryptocurrency with a roughly 42% volume dominance and a $1.1 trillion market capitalization, and its skyrocketing price has captured attention and funds from institutional and retail investors. "And while Bitcoin is undoubtedly still the king of cryptocurrencies, there are thousands of other coins and tokens, some of which have actually enjoyed greater surges in popularity and price than Bitcoin in the last twelve months," said BrokerChooser, an international broker comparison website, in a report.​​The company, which hosts reviews of brokers in 227 countries and territories, said it compared interest via Google search data and price in terms of US dollars between September 2020 and September 2021 for the 50 current biggest crypto coins.Shiba inu increased the most by each measure, with its value surging by 2.4 million percent over a 12-month period ended September 2021. A recent rally shot shiba inu to the 11th spot among the world's most valuable cryptocurrencies, a position that has since slipped slightly, to 12th place, according to CoinGecko. Dogecoin came in second on the list of price increases at 9,567% growth this year. "Envisaged as being a light-hearted and fun cryptocurrency to poke fun at the emerging world of crypto, [dogecoin] ended up building its own community and taking off in a huge way, particularly after being frequently mentioned by Elon Musk on social media," said BrokerChooser, noting the Tesla boss has said dogecoin is part of his personal portfolio. Behind dogecoin was Terra, which trades as LUNA, with its price jump of 6,496% to $31.66 in September.  The token, developed by South Korean firm Terraform Labs, is used for governance and staking on a decentralized financial payment network that powers a basket of stablecoins for cross-border transactions. Terra's price "exploded" in January when it raised $25 million in a funding round from Galaxy Digital, Coinbase Ventures, Pantera Capital, and others, said BrokerChooser. Shiba Inu led in the number of searches, with "Shiba Inu coin" soaring to 1.5 million searches from 70. Searches began to increase despite the coin's "incredibly low" price of $0.0000000003 in September 2020 that eventually drove up to $0.0000072 a year later. "[If] you had invested just $10 in the currency in September 2020 you'd have over $200,000 just 12 months down the line," said BrokerChooser.Rounding out the top three in popularity terms, polygon searches surged by 100,456% to 90,500, followed by Terra, up 5,556% to 18,100. Polygon, formally known as Matic, is designed to scale ethereum chains and develop the blockchain's infrastructure.Polygon was the fourth-biggest price gainer, up 4,800% to $1.47. Solana ranked fifth with a rise of 2,458% to $111.03. Solana's popularity has been fueled by bets it will overtake ethereum in the world of smart contracts and by growth in play-to-earn games.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 22nd, 2021

"Dogecoin" is the most-googled cryptocurrency in more US states than "bitcoin" and "ether" combined right now, partly thanks to Elon Musk"s endorsement

Dogecoin is the most-googled crypto in 23 states, including Florida, Illinois and Michigan, according to financial advisor The Advisor Coach. DogecoinNurPhoto Dogecoin was the most-googled in 23 states, including in Florida, Illinois and Michigan, according to financial advisor The Advisor Coach. The meme crypto's widespread popularity was partly down to Tesla CEO Elon Musk who has cheered the token on this year. Bitcoin came in second place, while ether was third, according to the report. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. There's no doubt that 2021 has been the Year of the Cryptocurrency. Bitcoin is being heralded as an inflation hedge on a par with gold and ether is rapidly becoming the cryptocurrency of choice for decentralized finance, play-to-earn games, digital collectors' items, known as non-fungible tokens, and likely soon, the metaverse. But it's not either of these two cryptocurrencies that have captured the public's imagination.Dogecoin, which was founded by software engineers Billy Markus and Jackson Palmers in 2013 as a joke, has been the most searched-for cryptocurrency in the largest number of states so far this year, according to research by The Advisor Coach, a financial advisor. The coin, which is based on an internet meme of a Japanese Shiba Inu dog, was the most-googled in 23 states, including Florida, Illinois and Michigan. This year, it shot to prominence, thanks in large part to the Twitter-based cheerleading of Tesla chief executive Elon Musk, who is a known crypto enthusiast that holds dogecoin, bitcoin and ether. Musk even went so far as saying in May this year that he might accept dogecoin as payment for his company's electric vehicles.By that point, dogecoin was already beloved among the army of Reddit retail traders, who had pushed the coin up to around $0.07, from closer to $0.007 at the start of the year and Musk's payment remark sent the price to a record $0.70. It's since eased to around $0.24, but it's still one of the crypto stars of 2021, with a gain of nearly 5,000% so far."The rise in interest can be partially attributed to the endorsement of Elon Musk who stated earlier in the year that Tesla would accept dogecoin as a form of payment," The Advisor Coach note said. Crypto traders' adoration of Musk extends well beyond what coins he holds and has given rise to dogecoin spinoffs. The Tesla boss even owns a Shiba Inu. There's now a shiba inu coin, and even a floki inu, named after Musk's real-life pup, Floki.By contrast, bitcoin, the biggest and original cryptocurrency, was the most-searched for in just 10 states, including Connecticut, Alaska and Mississippi, ranking it second in the list. Bitcoin has led the surge in appetite for and adoption of cryptocurrencies.  The total market value of crypto assets is hovering at close to $3 trillion, having risen from around $500 billion a year earlier, according to CoinGecko.Ether came in third place, being the most searched in eight states, while shiba inu landed in fourth place. Interestingly, shiba inu was the most-searched for cryptocurrency in New York, home to Wall Street and the country's most powerful financial institutions.Map of crypto google searchesThe Advisor CoachRead the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 21st, 2021

The cryptocurrency market has shrunk by $500 billion since bitcoin hit an all-time high, as investors have cashed in on the rally

The cryptocurrency market has lost $500 billion in value in the week since bitcoin hit an all-time high, as investors have cashed in on recent gains. Bitcoin balloonAndriy Onufriyenko The crypto market has lost $500 billion since bitcoin hit record highs a week ago. Bitcoin was heading for its biggest weekly fall in six months on Friday, having slid by 13%. Concern about US crypto taxes and a lukewarm launch of a new ETF has fed into the selling pressure. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The cryptocurrency market has lost $500 billion since bitcoin hit an all-time high last week, as investors have cashed in on the recent rally that took it to as much as $69,000.Bitcoin has since fallen 18%, having fallen near $55,000 at one point on Friday. It's lost 13% in the last seven days alone, putting it on course for its biggest weekly slide in six months.  "If the downtrend continues, the 14 day relative strength index will register an oversold reading for the first time since May when BTC fell below $30,000," Will Morris, Sales Trader at UK based digital asset broker GlobalBlock said. In technical analysis, if the relative strength index, which goes from 0 to 100, falls to 30 or below, this would indicate an asset has been oversold and would, in theory, be due for a bounce.The Cryptocurrency Market Fear and Greed index - an informal measure of investor sentiment - has dropped to its lowest since early October, and, at 34, signals "fear", Morris said. A reading above around 60 would point to "greed. "The amount of BTC and ETH on exchanges continues to fall to lower levels and whales continue to accumulate," Morris said in an emailed response. The VanEck bitcoin strategy exchange traded fund (XBTF) is the third publicly traded bitcoin futures ETF. At its market debut on Tuesday, the fund logged trading volume worth $4.8 million, compared with the roughly $1 billion that ProShares' ETF drew on the day of its launch in late October, according to CoinDesk.In addition, the new $1 trillion US infrastructure bill, which passed into law on Monday, now requires crypto brokers to report any transactions above a certain level to the tax authorities, but offered little clarity over what constitutes a "broker".Ethereum's ether token has also lost around 18% since touching a high of almost $4,9000 last Wednesday. It was last trading around $4,162, down around 1.4% on the day, and down nearly 10% on the week, marking its biggest seven-day drop since early September. With bitcoin under pressure, smaller altcoins have dropped in value too. Dogecoin has lost 11% on the week, while shiba inu has fallen 15%, according to Coinmarketcap. The solana and cardano tokens have also both dropped by around 9.5%. "Many market participants are taking advantage of the situation and rushing to stock up on cryptocurrencies from the top-10 list on a drawdown, as indicated by various indicators," Johnny Lyu, CEO of cryptocurrency exchange KuCoin, said.  "It is therefore too early to talk about a general market transition into a bearish phase, since institutional investors are maintaining their cryptocurrency portfolio positions," he said. Read the original article on Business Insider.....»»

Category: personnelSource: nytNov 19th, 2021

An altcoin called starlink rallied as Elon Musk"s company launched 53 internet satellites into orbit

There is no apparent connection between the altcoin and the internet satellites other than their shared name: starlink. Illustration of SpaceX's Starlink network of satellites.Getty Images An altcoin called starlink rallied a day after Elon Musk's SpaceX launched 53 additional internet satellites into orbit. The price of the coin peaked at a record high on November 14, reflecting a 117% rise from November 13. There are now more than 1,600 Starlink satellites in orbit, since the first two prototypes were launched in 2018.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell. An altcoin called starlink rallied over the weekend, a day after Elon Musk's SpaceX launched 53 additional internet satellites into orbit.The price of the coin, whose ticker is starl, peaked at a record high of $0.00008325 on November 14, Sunday, reflecting a 117% rise from November 13, according to CoinMarketCap data. Starlink now ranks 236 with a market capitalization of $682 million. According to its white paper, the coin aims to be "used as the medium of exchange within the metaverse." It had a stealth launch with no pre-sale or announcement that indicate when it began trading. However, data on crypto trackers such as CoinMarketCap and CoinGecko indicate it may have started trading around July 2021.On Saturday, SpaceX launched 53 Starlink satellites into orbit from Cape Canaveral Space Force Station in Florida. There are now more than 1,600 Starlink satellites in orbit, since the first two prototypes were launched in 2018. Starlink, which beams internet from satellites in orbit to users' dishes on the ground, has been rapidly growing its subscriber base. SpaceX has said it aims to launch 42,000 Starlink satellites into orbit by mid-2027.There is no apparent connection between the altcoin and the satellite launch other than their shared name. But the rally in the token further solidifies the unparalleled influence of Musk, the richest person in the world, on anything and everything.This phenomenon, often called the Musk Effect, has been reinforced several times. Notable instances included how he moved the prices of GameStop, Etsy, dogecoin, shiba inu, and of course, Tesla, among many others, all via Twitter.Just last week, a new Lorde Edge coin began trading after Musk began using that name on his Twitter account. The price hit a high of $0.00002954, representing an 825% surge from the opening price, according to data from CoinMarketCap.Read the original article on Business Insider.....»»

Category: dealsSource: nytNov 15th, 2021

Crypto fever has gripped markets this year, making stars out of dogecoin, shiba inu and solana, with investors pouring a record $8.9 billion into digital coins - more than in all of 2020: CoinShares

Investors have poured a record $8.9 billion into crypto products so far this year, more than the $6.7 billion for all of 2020. crypto coins circle Nurphoto Investors have poured a record $8.9 billion into crypto products this year, more than the $6.7 billion for all of 2020. Bitcoin, ether and a number of other altcoins have hit record highs this month, driven by growing investment. Even dogecoin spin-off shiba inu made headlines with a meteoric price rise and a growing fan base. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Investors have poured more money into crypto so far in 2021 than they did for the whole of 2020, with record amounts flowing into bitcoin and ether, as well as smaller altcoins like sol and ada, according to CoinShares.In the year to November 5, some $8.9 billion have flowed into crypto products, topping the $6.7 billion in inflows for the whole of last year, data from CoinShares, one of the largest crypto platforms in Europe, showed on Tuesday. Bitcoin has seen $6.5 billion inflows in the year to date while ether has seen $1 billion in flows. Solana token sol has logged $154 billion inflows, making it the third most popular crytocurrency of 2021, while cardano's ada has seen $92 billion worth of inflows.November has brought a wave of bullishness to the cryptocurrency market. Bitcoin and ether have hit new highs near $70,000 and $5,000, respectively, this week, while smaller tokens have shot higher, bringing the total value of the crypto market to $3 trillion for the first time. Sol touched a record $260 over the weekend, thanks to its links to decentralized finance applications that are growing in popularity.Crypto coins and products have become more widely accepted across the world. The fact more key exchanges in the US, Europe and even Australia accept crypto products has fueled the rise in investment activity over the year, according to James Butterfill, CoinShares investment strategist.Another key factor in drawing in capital flows has been the approval of bitcoin futures-backed exchange traded funds (ETF), Butterfill added. ProShares and Valkyrie got the green light from the Securities and Exchange Commission in late October to list those products. "It all points to regulatory acceptance," Butterfill explained. A lack of clarity around the regulation that governs the market has been one of the obstacles standing in the way of wider adoption of cryptocurrencies, particularly from institutional investors. But recent steps towards creating a tax framework, for example, may help pave the way.CoinShares' flows data doesn't cover so-called meme coins like dogecoin and spin-offs such as shiba inu, both of which have made headlines this year, thanks to their huge popularity among retail traders that have pumped the tokens to record levels. But these tokens have benefitted from the push into bigger rivals such as bitcoin.Shiba inu has a market capitalization of $30.6 billion despite only launching in August last year - making it the 11th biggest crypto by value, while dogecoin is two rungs above, having gained an eye-watering 9,000% over the past 12 months, based on Binance US data. "That meme investing theme seemed to have played into the crypto investing world," Butterfill said.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 9th, 2021

Shiba inu coin"s massive rise is driving demand for actual Shiba Inu pups - and people are even trying to pay for them in crypto

One Shiba Inu buyer paid $2,500 in US dollars for his new pup and named him after his favorite digital token, Bloomberg reported. Shiba Inu dogs. Getty Images Shiba Inu dogs are surging in popularity as crypto enthusiasts hype up the dog's namesake coin, Bloomberg reported. One crypto enthusiast spent $2,500 on a new dog that he named after his favorite digital token. Breeders told Bloomberg they've struggled to keep up with hundreds of applications received monthly. Crypto enthusiasts are pining to purchase Shiba Inu pups as the dog's namesake meme coin has surged in market value, according to a report from Bloomberg Businessweek.One enthusiast by the name of Seth Johnson told Bloomberg's Claire Ballentine that he spent $2,500 on one of the meme-famous pups. The breeder, he said, didn't take digital currency. He named his new dog after a little-known token called EverRise that he favors. According to the Bloomberg report, breeders said they're struggling to keep up with increased demand for the Japanese hunting dogs. Sandra Rolenaitis from Pennsylvania partially blamed Tesla chief Elon Musk, who has tweeted photos of his new pup named Floki. One of the tweets set off an epic run for the coin. (Another meme token also arose). Rolenaitis said her shop, "Rodel Shibas," has been seeing 150 to 200 applications each month for the dogs, and some come from families that just want them for the popularity. But negative aspects about the dogs - like the fact that they're akin to a 25-pound wolf - often cause some applicants to head for the door, according to another breeder.Shiba Inus ranked No. 43 in 2020 on a list of most popular dog breeds compiled by the American Kennel Club, up from No. 45 the year prior. Labrador Retrievers and French Bulldogs ranked No. 1 and 2, respectively, according to the list.The shiba inu coin originally surfaced as a meme of another meme coin: dogecoin. The two have been closely competing for spots in the top 10 cryptocurrency rankings. As of Friday morning, dogecoin was ranked No. 9, and shiba inu coin slipped to the No. 11 spot, according to data from CoinMarketCap.Much of shiba inu coin's rally in October - more than 800% - stemmed from big purchases from crypto whales, Insider previously reported. But retail traders also have been driving interest in shiba inu coin and hundreds of thousands of them have signed a petition for trading app Robinhood to add the coin to its crypto exchange. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 5th, 2021