Cryptocurrency news – Shiba Inu price continues to rise while Bitcoin and Ethereum ‘still cheap compared to market’

THE price of Shiba Inu continues to rise, as Bitcoin and Ethereum remain “cheap compared to market.”

Shiba Inu’s worth rose as much as 29 percent on Friday as people hoped Robinhood Markets would include the token in its platform.

The token, with a market cap of of $31 billion, and Dogecoin, which is at $34 billion, are the two top “meme” cryptos, as they are known.

Meanwhile, analysts say the two largest crypto currencies, Bitcoin and Ethereum, are still cheap when compared to traditional equity markets, according to Barron’s.

Wealthsimple, on its part, ramped up its retirement plans by launching a portfolio with an allocation to cryptocurrency ETFs, and the Shiba Inu coin is back up.

The company said it hopes that the launch of its new portfolio will boost employee participation in employer-sponsored savings plans and encourage workers to save for their retirement, according to Financial Post.

Shiba Inu coin’s price had dropped more than 20 percent as of 10am ET on Thursday, according to CoinBase. However, it is now up more than 28 percent as of 5:00pm ET on Friday.

Shibu Inu is a cryptocurrency token that allows users to hold trillions of them.

Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.

Read our cryptocurrency live blog for the latest news and updates…

  • ALL ABOUT ALTCOINS

    Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to allow secure transactions. 

    Altcoin is a category of cryptocurrency rather than a currency itself, and there are more than 900 different altcoins available.

  • WHAT IS A DIGITAL WALLET?

    A digital wallet is a gadget or piece of software that securely stores users’ payment information and passwords for numerous payment methods.

    They allow users to store cryptocurrencies, make online or in-store purchases, and track their finances.

    In 2019 Facebook said it plans to introduce a cryptocurrency that at the time was called Libra.

    The tecg titan said it wanted to create a separate, private currency system to allow users to make cross-border payments more easily.

  • SQUID CRYPTO SCAMMERS RUN OFF WITH $2.1MILLION

    After the SQUID coin launched just last week, its creators pulled the rug on the project, and cashed in the coins for real money.

    Investors who fell victim to the scam lost an estimated $2.1million.

    Gizmodo warned of the scam, pointing out the largest red flag: investors could buy the coin, but not sell it.

  • CRYPTO’S PRICE VOLATILITY IS ANOTHER BIG RISK FOR INVESTORS

    Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.

  • CRYPTO’S RISKS INCLUDE LACK OF CONSUMER PROTECTION

    Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.

  • CHINA MAKES CRYPTO TRADING ILLEGAL

    China‘s central bank announced that all cryptocurrency trading is illegal in the country and mining the tokens is banned.

    The People’s Bank of China (PBOC) said: “Virtual currency-related business activities are illegal financial activities.”

    The country previously banned financial institutions from offering crypto-related transactions, and warned investors against speculative trading in them.

  • US SET TO ‘STEM ILLICIT USE OF CRYPTOCURRENCY’

    A recent statement from President Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.”

    “That’s why my administration is marshaling a whole-of-nation effort to confront cyber threats.”

    The White House signaled that the US will gather 30 other countries to discuss responses to cybercrime.

    “This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” it read.

  • OUTRAGEOUS MARKET SURGE

    The cryptocurrency, Solana, is up a whopping 17,000 percent this year and is now the fifth-largest cryptocurrency on the market.

    Solana is a form of cryptocurrency that allows business leaders to trade, lend and borrow currency quickly and efficiently.

    It is a less expensive and more efficient form of Ethereum, which requires those who use it to solve a complex puzzle before validating a transaction.

  • SWISS REGULATOR APPROVES FIRST CRYPTO FUND

    Switzerland’s Financial Market Supervisory Authority has approved the first Swiss crypto fund, Bitcoin.com reported.

    FINMA revealed the fund is called “Crypto Market Index Fund.”

    It noted that it is “an investment fund according to Swiss law belonging to the category ‘other funds for alternative investments’ with particular risks.”

  • BANKS MAY REGULATE CRYPTO, CONTINUED

    Jelena McWilliams, chair of the Federal Deposit Insurance Corporation, told Reuters in an interview that US bank regulators are looking for a way to have banks exchange with crypto assets.

    “I think that we need to allow banks in this space, while appropriately managing and mitigating risk,” she said.

    “If we don’t bring this activity inside the banks, it is going to develop outside of the banks. … The federal regulators won’t be able to regulate it.”

  • BANKS MAY REGULATE CRYPTO

    US officials are reportedly exploring how banks could hold cryptocurrencies, in an effort to regulate the the asset.

    Crypto is fast-growing, and if it continues to develop outside of banks, federal regulators will not be able to control it.

  • WHAT ARE RED FLAGS OF SCAMS?

    Gizmodo shared that other red flags of the SQUID coin being illegitimate was that the website that the creators launched was filled with spelling and grammatical errors.

    The crypto’s telegram channel also did not allow comments from outsiders, and its Twitter account did not allow users to reply to posts, which Gizmodo flagged as suspicious.

  • KROGER IS NOT ACCEPTING BITCOIN AS PAYMENT

    After a news release was posted on the grocery chain’s website claiming that the company would start accepting bitcoin cash as a form of payment, Kroger posted a tweet that the announcement was false.

    It is not clear how the news release was posted on the company’s website, but Kroger said the announcement “should be disregarded.”

  • CHINA’S CRACKDOWN ON CRYPTO IS ‘BIG OPPORTUNITY’ FOR US

    China’s crackdown on cryptocurrency transactions “is a big opportunity for the U.S.”, according to Pat Toomey, the top Republican on the Senate Banking Committee.

    This comes as the US Securities and Exchange Commission lobbied for more regulations when it comes to cryptocurrency.

  • CHINA’S STATEMENT, CONTINUED

    Bitcoin, the world’s largest digital currency, and other cryptos cannot be traced by a country’s central bank, making them difficult to regulate.

    The crypto crackdown opens the gates for China to introduce its own digital currency, which it is already working on and will allow the central government to monitor transactions.

  • CHINA’S STATEMENT

    The PBOC said it will “resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people’s properties and maintain economic, financial and social order”.

    It said that trading of virtual currencies had become “widespread, disrupting economic and financial order, giving rise to money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities.”

  • CHINA MAKES CRYPTO TRADING ILLEGAL

    China‘s central bank announced that all cryptocurrency trading is illegal in the country and mining the tokens is banned.

    The People’s Bank of China (PBOC) said: “Virtual currency-related business activities are illegal financial activities.”

    The country previously banned financial institutions from offering crypto related transactions, and warned investors against speculative trading in them.

  • CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES, PART TWO

    While crypto creation and trading have been illegal in China since 2019, further crackdowns this year by Beijing warned banks to halt related transactions and closed much of the country’s vast network of bitcoin miners.

    The previous statement by the central bank sent the strongest yet signal that China is closed to crypto.

  • CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES

    In 2017, China shut down its local cryptocurrency exchanges.

    Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies.

  • WHAT IS NUCYPHER? CONTINUED

    This allows users to share private data with a number of others in a secure way.

    Holders of its token NU can stake their tokens through the network to run a node, which is responsible for creating and sending information.  

    Interestingly, NuCypher token is an ERC-20, which means it is built on Ethereum.

  • WHAT IS NUCYPHER?

    NuCypher was founded by Michael Egorov MacLane Wilkison in 2015, but it wasn’t until 2019 when the public testnet for NuCypher’s network was launched.

    NuCypher specifically operates as a decentralized key management system that uses blockchain technology.

  • WHAT CRYPTO IS BURGER KING GIVING AWAY?

    Burger King announced it is partnering with RobinHood to give away cryptocurrency in a promotion that started this month.

    The company is giving away Bitcoin, Ethereum, and Dogecoin.

    “The prize pool includes two million Dogecoin, 200 Ethereum and 20 Bitcoin, so only 220 guests could receive a Bitcoin or Ethereum cryptocurrency prize,” the company website revealed.

  • BURGER KING GIVING AWAY CRYPTO

    Burger King announced it is partnering with RobinHood to give away cryptocurrency.

    The promotion started this month and runs until December, a company statement said.

    “Royal Perks members get a side of crypto with any $5+ purchase,” it read.

    “Earn a crypto coin with an eligible order once per day. But hurry, this is a limited-time promotion!” the website warned.

  • EL SALVADOR ADOPTS BITCOIN, CONTINUED

    However, those who do not have access to technologies that can carry out Bitcoin are excluded from being required to accept it.

    The US dollar and Bitcoin are now the country’s official currencies.

    It’s the first time Bitcoin has been adopted as a legal tender in a sovereign nation.

  • EL SALVADOR ADOPTS BITCOIN

    The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.

    The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.

    Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”


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