Tag: Shiba

Understanding the Rise of Non-Fungible Tokens

by Blockchain News

 

 Non-fungible tokens are currently garnering attention in the digital market. To verify their ownership and authenticity, NFTs use blockchain technology. They represent a wide variety of things, such as art, music, games, and even real estate. The concept of NFTs has gained popularity and acceptance. This article details the rise of NFTs and the potential benefits of investing in them.

Understanding Non-Fungible Tokens?

Tokens that are not fungible are assets that are encoded and stored on blockchain. Each NFT has its own unique identifier and associated metadata, distinguishing it from all other tokens. Non-fungible tokens can be traded for money, or in digital assets; their value is determined by market demand and owners.

For example, an exchange could be used to create a token for an image of a banana. NFTs could be highly sought-after and worth millions or worthless, depending on the buyer. Cryptocurrencies can be seen as tokens; however, they can be interchanged. This is a major distinction from non-fungible tokens, which are not interchangeable.

How Do Non-Fungible Tokens Work?

NFTs are created through minting, a process where information is stored on a blockchain. This involves validating NFT data, creating an additional block, and closing it. This process also uses smart contracts to determine ownership and control of NFT transfers.

 

When new tokens are created, they are each given their own ID associated with a blockchain address. Every token has an owner and the ownership info (the address the token is located at) is visible to the public. Even if 5,000 identical NFTs are minted, each has a distinct identifier and can be distinguished.

Benefits of Non-Fungible Tokens

Non-fungible tokens have several potential benefits for both creators and buyers. Here are some NFT benefits:

 

  • Artists, musicians, and even Twitter users can monetize their unique digital creations through NFTs.

  • NFTs provide proof of ownership and authenticity, which can increase digital assets’ value and make them more sought after.

  • Investing and owning a digital asset with NFTs is a great way for buyers to build wealth over time.

  • NFTs also provide transparency and security, as blockchain technology ensures their integrity. 

  • Unlike traditional physical assets, non-fungible tokens can be transferred and traded easily, making them a more liquid investment

  • NFTs provide a more efficient way to market physical assets. Tokenization simplifies the sales process by removing middlemen and allowing sellers to directly reach potential customers. This enables artists to securely offer their works without third parties.

How Can I Buy NFTs?

To buy NFTs, one needs Ether which is stored in a digital wallet. There are several online NFT marketplaces, such as OpenSea, Rarible that offer these purchases. Ethereum-based meme coins such as Shiba Inu aim to provide financial independence outside of centralized control. It is critical to assess the Shiba Inu price before purchasing.

Endnote

Non-fungible tokens have revolutionized the digital world by providing an innovative way to own and trade unique digital assets. NFTs have opened up new opportunities for creators to monetize their work and for buyers to invest in one of the unique ways of digital assets. As NFTs gain popularity, it is vital to understand the technology behind them. Whether you are a creator

Source

Tagged : / / / /

Crypto Prices Today: Bitcoin Above $42K While Ether and SOL Tumble

by NEWSBTC

This year, cryptocurrencies have been on a rollercoaster, with Bitcoin prices trading near $42k after jumping over 40$. The world’s most significant digital token is up 1.5% at present but down 9% overall for 2022 so far – it still needs to recover some lost ground if we want our asset back near its record high.

As a sign of the times, Bitcoin continues its climb to new heights. The cryptocurrency market capitalization is now over $2 trillion as per CoinGecko – with solid support coming from crypto prices across all markets today.

Related Reading | Bitcoin above $42,000, Shiba Inu rallies 29%; ether, Solana slip. Check cryptocurrency prices today

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Ether, the cryptocurrency linked to the ethereum blockchain network, scaled again as it reached new heights above $3K for the first time since January 21. The coin was trading hardly lower at 3125 but has shown signs of recovery. Likewise, Binance Coin (BNB)  shed about 0.6% today and is currently trading at around 419 USD per coin.

With the price of Dogecoin climbing over 5% to $0.15, Shiba Inu skyrocketed 29%. Other coins like XRP (Ripple) and Stellar had mixed performances with gains. Avalanche, Cardano, and Polygon prices traded higher than the last 24 hours, whereas Solana slipped by 1%.

Crypto Prices Following US Stock Rally

Cryptocurrencies have seen their value volatility skyrocket this week as they continue to struggle with an uncertain regulatory landscape. The rise of cryptocurrency came alongside a rally in US stocks, with Nasdaq ending last week’s trading session up despite major fluctuations. Still, traders are not entirely convinced about how these digital coins will perform long due to the heavy volatility.

Get 110 USDT Futures Bonus for FREE!

Related Reading | Bitcoin Hits Two-week High Imitating The Stock Rally

The news that bitcoin production more than doubled in January from a year earlier helped boost other listed crypto assets on Friday. In addition, miner Riot Blockchain announced they would be releasing new coins into circulation.

Bitcoin price chart from TradingView.com

BTC price crumbles to $43K | Source: BTCUSD on TradingView.com

With the market slowing down, they struggled to break out. Growth stocks and other riskier assets faltered amid investor concern about an impending Fed rate hike. A global trend toward tighter monetary policy caused their downfall in this environment. The authorities did not reward high-volume trades with lucrative returns like before 2016’s crypto bubble burst on numerous exchanges worldwide.

Profit Starts for Short-term Holders

With the on-chain data indicating the long-term price of Bitcoin seems to be setting new lows every other day, there’s no need for worry as it will eventually rise again.

As seen in the Root Analytics account, short-term holders of Bitcoin are beginning to see their share increase. The portion of the Bitcoin supply controlled by short-term holders is starting to tick upward after falling at times, coinciding with macro price lows.

On Monday, Root commented in a tweet;

“Likely the macro bottom is in. Who could have known.”

There’s some good news for holders of short-term notes, with the ratio slipping back above one this weekend.

With values climbing through 1 from below, it’s clear that short-term holders, on average, are beginning to sell at a profit rather than lose.

SOPR

BTC short-term holder SOPR chart | Source: Cryptoquant.com

With 25% of the bitcoin supply remaining underwater, it’s no wonder that only 16.7% has been purchased between $30K – $41.5K.

                   Featured image from Pixabay, chart from Cryptoquant.com

Source

Tagged : / / / / / / / / /

Crypto Exchange Gemini Lists Shiba Inu As Number Of Holders Increases

by NEWSBTC

Crypto exchange Gemini has added support for popular meme coin Shiba Inu (SHIB) amid growing interest. Gemini announced that it has now supports SHIB in addition to a few new defi, metaverse, infrastructure, and data management tokens.

Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens

The exchange’s new addition comes as holders of the meme coin are steadily increasing.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Gemini Lists Shiba Inu

The crypto exchange announced its latest additions in a blog post on Friday.

“We are delighted to announce support for Shiba Inu (SHIB), as well as a range of new DeFi, metaverse, infrastructure, and data management tokens.” the company said.

“Shiba Inu (SHIB), Audius (AUDIO), Mask Network (MASK), Wrapped Centrifuge (WCFG), Quant (QNT), Radicle (RAD), Burn (ASH), Superrare (RARE), Fetch.ai (FET), and Numeraire (NMR) are now supported for deposits and custody on Gemini.”

Get 110 USDT Futures Bonus for FREE!

SHIB’s recent listing on Gemini’s platform is a sign of how much users are demanding the coin. In fact, the petition for another major exchange, Robinhood, to add support for SHIB is still ongoing. At the moment, the petition already has 532,237 signatures. However, Robinhood recently indicated that it is not rushing to add any new coins to its platform.

SHIBUSD on TradingView.com

SHIB price at $0.0000528 | Source: SHIBUSD on TradingView.com

Last week, Christine Brown, Robinhood Crypto’s COO and VP of Product Operations talked about her company’s crypto strategy at a conference. Responding to a question about whether the exchange will list SHIB, she replied “When it comes to our strategy of what we are going to list, the first thing is that we’re not going to talk about it. So I’m not going to break that news here, unfortunately.”

She further explained that the company’s strategy is different from others like Coinbase, who are racing the list as many assets as possible.

“We want to make sure we are working and assessing everything from a regulatory perspective very well. And we are a safety-first company so that’s how we’re going to play it.”

Coinbase, on the other hand, is eager to list many cryptocurrencies. Earlier this month, the exchange announced that Shiba Inu is now available to New York residents. Although, it has been offering SHIB on its platform since June.

Number of SHIB Holders On The Rise

As SHIB grows in popularity, more and more people want to get their hands on it.

Related Reading | AMC Theatres Says Customers Will Soon Be Able To Pay With Shiba Inu

The number of Shiba Inu holders is getting closer to the long-awaited number of one million holders in total. At the time of writing, 985,674 unique addresses now hold SHIB assets.

Featured image by TronWeekly, Chart from TradingView.com

Source

Tagged : / / / / / / / / / / /

Shiba Inu Rises 13% as Robinhood Petition Passes 300,000

by Blockchain News

Shiba Inu coin (SHIB) rose 13% in the past 24 hours following an uproar for Robinhood Markets Inc to add the token to its platform.

Webp.net-resizeimage (39).jpg

The token has gained more than 40 million percent in the past year, and a recent petition on Change.org asking Robinhood to list Shiba Inu has now garnered more than 326,000 signatures.

SHIB, a Dogecoin-inspired meme cryptocurrency, is currently the 11th-biggest crypto with a market value of nearly $24 billion.

SHIB’s all-time high following a price surge of more than 46% over the weekend has led to many believing that Robinhood should introduce the token in its platform.

However, the crypto slumped earlier this week after Elon Musk tweeted that he didn’t own the coin.

Some speculations state that an increasing demand for Robinhood to list SHIB has led to a decline in its crypto trading. But according to the company’s last filing, 64% of crypto revenue came from Dogecoin.

Robinhood’s crypto trading revenue has also been staggering. In a report, the company announced its crypto revenue totalled $233 million in the second quarter and $51 million in the third quarter, marking a 78% decrease compared to the previous quarter.

Crypto has become more critical to Robinhood’s growth and the company is currently working on a wallet that could make it a one-stop-shop for retail traders.

The company believes that the so-called cryptocurrency wallet will allow customers to receive, trade, and spend digital currencies and move them in and out of the Robinhood app.

The SHIB token was officially launched in August 2020, when the decentralized finance (Defi) market was making huge strides and growing exponentially.

While Robinhood, introduced in 2015 and it states that it is a commission-free investing platform for stocks, exchange-traded funds and cryptocurrencies.

Image source: Shutterstock

Source

Tagged : / / / / /

Shiba Inu risks drop with SHIB’s 574% October’s price rally near exhaustion

by Cointelegraph

Shiba Inu (SHIB) may see a pullback by almost 25%–35% on fears that the cryptocurrency’s excessive price rally in October has left it overvalued, a key indicator shows.

Dubbed the Relative Strength Index (RSI), the indicator measures the magnitude of an instrument’s recent price changes to evaluate its oversold and overbought conditions. The result can be anywhere between the number 0 and 100, with a reading below 30 showing the instrument’s oversold and above 70 showing its overbought status.

SHIB crossed above 70 on Oct. 3 and peaked around 94 three days later. Ideally, its overbought reading could have resulted in a price correction. But SHIB continued its rally as the monthly session progressed, eventually rising over 574% to its five-month high at $0.00004860 on Oct. 26.

Bearish divergence

On the other hand, Shiba Inu’s RSI slipped lower, thus creating a broad divergence between SHIB’s price and momentum. That reflected an underlying weakness in the cryptocurrency’s ongoing uptrend, raising possibilities of a pullback in the coming days.

SHIB/USDT daily price chart featuring divergence between the rising price and falling RSI. Source: TradingView

Additionally, the last three price candles on the Shiba Inu daily chart formed a sequence of higher highs at their close. But that coincided with declining trading volumes three days in a row, thus further validating the SHIB uptrend’s underlying weakness.

That does not mean an immediate price correction. According to the breakout that followed the formation of a Bull Pennant indicator, SHIB bulls appeared to have been eyeing $0.00005222 as their next upside target.

25%–35% SHIB price pullback?

A Fibonacci Retracement graph between the Shiba Inu’s swing high of $0.00003466 and the swing low of $0.00000621 presented a string of levels that earlier served as support and resistance.

For instance, the 1.618 Fib line of the graph almost coincided with the Shiba Inu’s Bull Pennant target, just a two-notch upward at $0.00005224.

Thus, the resistance confluence of the 1.618 Fib line and Bull Pennant target raised SHIB’s potential to test the $0.00005222–$0.00005224 price range before undergoing a strong price correction.

SHIB/USDT daily price chart featuring Fibonacci retracement levels. Source: TradingView

Related: 

Source

Tagged : / / / / / / / / / / / /

Shiba Inu (SHIB) DEX ShibaSwap Exceeds 1.5B TVL, Adds Three New Pairs

by NEWSBTC

Shiba Inu, a famed meme coin, has recently unveiled its DEX ShibaSwap. This comes on the heels of the growing popularity of SHIB as holders continue to show faith in the coin.

The coin which was started as a joke has seen a lot of growth and seems to be taking a more serious tone as time goes by. The developers are bent on showing the market that Shiba Inu has moved on from meme coin territory into serious coin territory.

Related Reading | Coinbase Pro To List Shiba Inu, The “Dogecoin Killer” Price Soars

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

One of the ways the project has shown this newfound seriousness is in the release of its very own DEX named ShibaSwap. ShibaSwap works like any other DEX, the likes of Pancakeswap, SushiSwap, and Uniswap. With the launch of ShibaSwap has come a lot of possibilities for the holders of Shiba Inu tokens.

So far, the total value locked (TVL) of coins on ShibaSwap has exceeded $1.5 billion. Getting over $1 billion TVL in just two days after the launch.

What ShibaSwap Offers

On the website are various ways that Shiba Inu holders can get rewards for staking their SHIB coins on the platform. On the back of this has been the release of two new tokens; LEASH and BONE.

Get 110 USDT Futures Bonus for FREE!

These tokens were not made available to buy until the ShibaSwap DEX was launched. Holders can “dig” on the platform to earn BONE tokens. The term “dig” in this context just refers to SHIB holders providing liquidity on the platform.

Holders can also “fetch” on ShibaSwap. This is done by migrating UNI V2-LP or SLP tokens and holders get BONE coins in return for fetching.

Continuing on this path, holders of Shiba Inu tokens can also “bury” tokens. “Bury” refers to staking SHIB tokens in order to get rewards on your staked coins. Holders can alternatively bury their SHIB tokens, LEASH, or BONE tokens using this feature. Burying is not yet live on ShibaSwap and is slated to be coming soon to the DEX.

Shiba Inu (SHIB) chart from TradingView.com

Shiba Inu (SHIB) chart from TradingView.com


Price of SHIB down 2% in the last 24 hours | Source: SHIBUSD on TradingView.com

The ShibaSwap DEX also provides swapping features for holders. Here, holders can swap their coins for any token listed on the platform. The tokens that can be swapped on ShibaSwap are not just limited to SHIB tokens. Users can swap a wide variety of tokens for other tokens. Eth being one of the most prominent that can be swapped on the DEX.

“Woof” is a feature that enables holders to get returns when they stake their SSLP tokens. It allows holders to farm for coins with their staked tokens.

The Bonefolio featured which has not yet launched will allow holders to track their token activities across the DEX, referred to as dogalytics on the SHIB website.

Three New Token Pairs

A recent announcement revealed that Shiba Inu would be adding three new pairs on their DEX ShibaSwap. This comes a week after the decentralized exchange had launched to much anticipation from the token holders.

The official Twitter account of Shiba Inu announced the three new token pairs and these included an ETH-USDT pair (300 AP), a LEASH-BONE pair ( 900AP), and a SHIB-BONE pair (600 AP).

The price of SHIB saw a small uptick in response to the announcement but this did not last long as the price of the coin took a nosedive shortly after the uptick.

Related Reading | Dog Eat Dog: Elon Musk Leaving Doge Behind For New Dog Coin?

Regardless of the price reaction to the news, the new pair additions have been strongly encouraged, with the official SHIB account stating that they believe the additional pairs with help to build the momentum behind ShibaSwap. They hope to achieve this by “incentivizing our ecosystem, widening their reach to external users, and providing more USDT liquidity, (which will help #ShibaSwap run smoothly with more and more rewards).”

SHIB is currently trading at $0.00000770, and BONE and LEASH are listed on SHIB’s website at $5.38 and $2587.2 at the time of this writing.

Featured image from Currency.com, chart from TradingView.com

Source

Tagged : / / / / / /
Bitcoin (BTC) $ 27,689.42 1.06%
Ethereum (ETH) $ 1,643.78 0.13%
Litecoin (LTC) $ 64.61 0.52%
Bitcoin Cash (BCH) $ 231.18 1.31%