Shiba Inu Outranks Chainlink And Takes Place In Top 15 Crypto-Assets

Shiba Inu, the self-acclaimed Dogecoin-killer, has shaken the market with its recent bullish momentum.

The meme coin has surmounted over 350% upsurge within one week, ranking it amongst the top 12 cryptocurrencies based on market capitalization. Presently, SHIBA is the most traded currency on leading exchanges like Coinbase, Binance, and Huobi.


A meme coin is a digital currency linked with some theme, more often as a jest rather than for more serious products. Dogecoin was the very first meme coin deployed.

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The Shiba Inu Protocol

Shiba Inu was developed by a person named Ryoshi in August 2020. The protocol’s three tokens SHIB, LEASH, and BONE, experienced tremendous increments within the past few weeks.

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Last week, Shina increased to $0.000035, the second-highest record after an All-Time-High value of $0.000038 on May 10th, 2021. Just a few inches away from setting a new All-Time-High record.

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Shiba Inu Outranks Chainlink And Takes Place In Top 15 Cryptos

Shiba Inu Outranks Chainlink And Takes Place In Top 15 Cryptos

SHIB Token is trading upwards | Source: SHIB/USD on

Just recently, SHIB’s market cap increased to over half of Dogecoin’s market cap. Currently, Dogecoin ranks 10th globally, with a market capitalization of $32 billion, while SHIB ranks 12.

The Whale-Sized Trading

Just after an anonymous whale trader decided to purchase over 6.3 Trillion SHIB tokens and increase SHIBS token valuation, it expanded massively.

As a result, Shiba has been one of the most traded digital currencies in the market within this past week. With a current market cap of over $13.23 billion, the coin spiked by 17% in the last 24 hours.

The deployment of Shiba Inu’s DEX ecosystem ShibaSwap and the introduction of the platform’s burn mechanism incited a rally in the altcoin’s prices. Some developments in SHIB are the main contributors to the massive growth in the price valuation.

Significant factors include the announcement of the release of 10,000 Shiboshis on ShibaSwap, the execution of the burn mechanism, and the increase in the number of token holders.

Shiba Inu To Venture Into Gaming

While Shiba Inu makes preparations to win the gaming sector, token holders anticipate a rise in its demand. At first, the protocol was experiencing the challenges of insufficient liquidity and inaccessibility of the platform updates.

Due to its recent token listing on Coinbase, the challenge of insufficient liquidity was salvaged to a great extent, noting how its daily trading volume surpasses $13 billion.

Shiba Inu Conquers Other Major Coins

The SHIB token has exceeded cryptocurrencies like Chainlink, Avalanche, Litecoin, and UniSwap.

Its double-digit increase within the last four days has assisted the nearly obliterated altcoins in arriving at the headlines again. During these few days of price rallying, the meme coin has successfully erased one zero from its price after over four months of price dormancy.

Featured Image From Pexels and Charts From TradingView.Com


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Cardano (ADA) Becomes The Latest Addition To Grayscale Digital Large Cap Fund

Grayscale has just added Cardano to its Digital Large Cap Fund. The top asset management firm announced its quarterly rebalancing that brought up Cardano to be the third-largest holdings of the company.

Cardano Is The Third Largest Crypto In Grayscale Digital Large Cap Fund

According to Grayscale, there was a little adjustment to accommodate Cardano into the portfolio. Grayscale sold some of the components to buy ADA. Before buying Cardano, Grayscale also made the same adjustment in April to buy Chainlink (LINK).

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By this recent action, the asset management firm has caused the price of Cardano (ADA) to gain by at least 1.09% following the announcement. Also, crypto now occupies the third position in the funds after Bitcoin and Ethereum.

Cardano (ADA) noticed several positive developments in recent times, and it seems that the trend is continuing. After its network upgrade, the token price rose impressively.

While the community is still awed by that, Grayscale has taken another huge step to push the token further towards the positive trend.

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The fund management company made this ground-breaking announcement on Twitter. From what the team tweeted, their main aim is to expose the clients to at least 70% of all the crypto in the market.

So, this is why they’ve concentrated on adding the bet and top crypto to their multi-billion portfolio. According to what Grayscale Finance Vice President Edward McGee said, the firm is excited about the addition.

He further stated that they want all their clients to access top digital currencies via regulated product offerings that they can relate with like others. Now, ADA makes up 4.26% of the Fund’s digital assets.

Cardano (ADA) Becomes The Latest Addition To Grayscale Digital Large Cap Fund

A Brief On Grayscale Quarterly Review

The asset management firm has always maintained a tradition of reviewing all the assets in its portfolio every quarter of the year.

Such action is to ensure that they present their clients with the best opportunities to invest their capital. In this quarterly review, the firm’s target is Cardano, and it sold off some firm’s components to purchase the crypto.

The community is also waiting for the next quarterly review, which will take place in September. The speculation is high as to which digital asset the firm will choose to add to its portfolio.

How Will The Announcement Affect Cardano (ADA)

In reaction to the announcement, Cardano’s founder Charles Hoskinson retweeted the announcement to show everyone in the crypto community.

This is indeed a groundbreaking achievement for the Cardano team and community. Given that Grayscale is a regulated and reliable digital asset management firm, it’s obvious that ADA will gain more credence in the crypto market.

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Now that the token appears side by side with Bitcoin and Ethereum, it will record more investments and following huge demand. The demand will cause the price to soar higher than others in growth.

Cardano (ADA) Becomes The Latest Addition To Grayscale Digital Large Cap Fund

The announcement of Grayscale adding Cardano to its portfolio is expected to shoot ADA to the moon. The price of ADA is rising gradually, thanks to the Grayscale.

Featured image from Coinrot, chart from


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