Crypto Pirates Daily News – February 9th,
2022 News Headlines: * What Will Bitcoin And Ethereum Look Like
In 2022 As XRP, Dogecoin, And Shiba Inu Soar?. * Mitsubishi UFJ Trust Will Launch a Stablecoin
to Speed Up Settlement Processes. * Tesla suffers a $141 million loss on a Bitcoin
bet. * What Will You Be Able to Do in the Metaverse
in 2022?. * What Exactly Is Crypto Lending, and How
Does It Work?. * 'Sandwich traders' are making a fortune
on cryptocurrency. The vast majority of them are bots. * During the Super Bowl commercial campaign,
a cryptocurrency exchange will give away Bitcoin. * How to Mint Invisible Friends NFT Coins. * Bitcoin may continue to tumble, but how
long will the 'crypto winter' last?. * Shiba Inu News: Why Is SHIB Increasing in
Value?. What Will Bitcoin And Ethereum Look Like In
2022 As XRP, Dogecoin, And Shiba Inu Soar? Despite severe predictions, the bitcoin price
has risen by roughly 10% since early January, while the ethereum price has risen even more. However, lesser cryptocurrencies such as Ripple's
XRP, the meme-based dogecoin, and its main rival shiba inu have soared, leaving bitcoin
and ethereum in the dust.
Now, experts at crypto research firm FSInsight,
helmed by JPMorgan's former chief equities strategist Tom Lee, have published a massive
2022 bitcoin and ethereum price prediction, predicting that this year would see another
wave of crypto investors. "This is much different from last year, when
tech stocks were still doing well but bitcoin sold off along with the rest of the crypto
market cap," FSInsight's Sean Farrell, head of digital asset strategy, wrote in a note
first reported by Coindesk, adding that the expected rally will be driven by "legacy market
capital entering the fold." Financial institutions and Wall Street titans
have showed a lot of interest in bitcoin and cryptocurrencies in the previous year, with
some now offering trading services to clients.
Despite bitcoin's difficult start to the year,
Farrell forecasts that the price of bitcoin might reach $200,000 per bitcoin in the second
half of 2022. Bitcoin fell over 50% from its all-time highs
in the two months leading up to January, plummeting to around $32,000 per bitcoin. Farrell also projected that the price of ethereum
may reach $12,000 per ether due to the expansion of decentralised finance (DeFi), non-fungible
tokens (NFTs), and other Web 3 applications, noting that ethereum is undervalued in comparison
to cloud platforms. Bitcoin, ethereum, and most other major cryptocurrencies
plummeted substantially in the last months of last year and into 2022 as investors worried
about expected interest rate hikes from the Federal Reserve, leading soaring stock markets
to stop.
Mitsubishi UFJ Trust Will Launch a Stablecoin
to Speed Up Settlement Processes Mitsubishi UFJ Trust, situated in Tokyo, seeks
to strengthen its financial services by embracing blockchain technology and introducing a stablecoin. Mitsubishi UFJ Trust, a financial services
corporation, seeks to improve its transaction system by incorporating blockchain technology
for trading and a cryptocurrency for payments. As a result, according to a new rumour, it
will establish a stablecoin pegged to the value of the Japanese yen. Mitsubishi Stablecoin According to a recent Nikkei Asia story, Mitsubishi
UFJ Trust – a Tokyo-based bank with over $1.5 trillion in assets under management – is
looking to enter the realm of crypto by releasing its own digital currency.
The financial product will be a form of stablecoin
linked to the Japanese yen. The token will allow the institution to improve
its payment process by allowing it to settle securities transactions promptly. In Japan, similar monetary procedures currently
take a few days and cost tens of millions of dollars per year. Many people believe that using a stablecoin
will eliminate those expenditures. Furthermore, the programme should encourage
the use of blockchain technology in securities trading. In collaboration with Daiwa Securities and
SBI, the Japanese Trust Bank has pushed its use. Digital securities allow customers more flexible
investment options. For example, blockchain technology has transformed
traditional assets such as real estate or corporate bonds into goods that can be purchased
in tiny quantities, making retail investments possible.
Japan, one of the world's most industrialised
economies, is a prominent player in the cryptocurrency business. Simultaneously, residents have recently shown
an increased interest in the asset class. Digital transactions increased by more than
half in 2021 compared to 2020, totalling more than 103 trillion yen ($900 billion). Stablecoins May Be Subject to Strict Regulation It is safe to expect that Mitsubishi UFJ Trust's
proposal will face regulatory scrutiny before it is launched. Last summer, some Japanese officials expressed
concern that stablecoins could disrupt Japan's financial environment and, as a result, should
be rigorously regulated. "With worldwide advancements in digital currencies
moving so quickly," one of them observed, "Japan can no longer leave things unchecked." The Financial Services Agency (FSA) formed
a section to oversee cryptocurrency regulation in 2020.
Shortly after, the Ministry of Finance considered
expanding the number of employees required. The potential regulation may benefit Japan's
central bank, which plans to issue a CBDC. Trials are likely to begin this year, with
the product's initial distribution scheduled for 2026, according to Governor Haruhiko Kuroda. Tesla suffers a $141 million loss on a Bitcoin
bet If you've been hurt by the recent volatility
in Bitcoin, you're not alone.
Tesla, led by the world's richest person,
Elon Musk, has also been impacted by the crypto craze. In its annual filing to the Securities and
Exchange Commission, the electric vehicle (EV) manufacturer declared a US$101 million
impairment loss due to its investment in Bitcoin. The loss is mainly an accounting issue, and
it has no influence on Tesla's overall financial health. According to the SEC filing, the corporation
still holds around US$2 billion in Bitcoin on its balance sheet. And Tesla did claim a US$128 million gain
on its bitcoin investment following the sale of some of its holdings in March 2021.
Shares of Tesla were up 2 per cent Monday
morning. However, the stock has dropped more than 10%
this year as investors shift away from technology and into more value-oriented industries such
as oil. Bitcoin prices surged Monday as well, gaining
nearly 4 per cent to roughly US$43,000. But the price of one bitcoin has plummeted
more than 7 per cent so far this year and is down approximately 40 per cent from its
all-time high of just under US$69,000 in November. In early 2021, Tesla invested US$1.5 billion
in Bitcoin. Mr Musk has repeatedly tweeted about his support
for the top crypto as well as for other lesser, meme currencies such as Dogecoin. The company also briefly took Bitcoin as payment
for its electric cars last year, but reversed course in May following opposition from critics
over Bitcoin mining, which needs enormous energy and is not ideal for the environment. Nonetheless, Tesla remains positive on Bitcoin
and other cryptocurrencies. "We believe in the long-term potential of
digital assets as both an investment and a liquid alternative to cash," Tesla stated
in the SEC filing. "As with any investment, and in accordance
with how we manage fiat-based cash and currency equivalent accounts." "Based on the demands of the business and
our assessment of market and environmental conditions, we may grow or decrease our holdings
of digital assets at any time." What Will You Be Able to Do in the Metaverse
in 2022? The future potential of the metaverse are
apparently endless, but is there anything you can accomplish in the metaverse right
now? The metaverse is often couched in such futuristic
terms that it’s difficult to understand how you can get involved in it today.
But, in reality, metaverse-like worlds have
existed for decades, and you may have previously encountered some of them without even realising
it. What is the metaverse again? The metaverse, based on venture capitalist
Matthew Ball's theory, is a permanent online universe that blurs the barriers between reality
and virtual reality. The metaverse is a 24/7 online environment
populated by economics that reward a new network of artists and infrastructure providers. It is far more than a Call of Duty match. Importantly, this economy is based on interoperable
in-game assets. This approach deviates significantly from
the "walled gardens" – closed ecosystems – that we're accustomed to; Ball gives the
example of a skin for a Counter-Strike pistol that could easily be translated into a decoration
for a Fortnite weapon. While Mark Zuckerberg's Meta (previously Facebook)
has its own ideas for the metaverse, the cryptocurrency industry believes blockchain technology is
ideal for this innovative online realm. Crypto games such as The Sandbox and Decentraland
provide early glimpses of how a creator-led, crypto- and NFT-powered economy might operate. So, here's what you can do today in the metaverse.
In virtual worlds, you can create, explore,
and play. For the greater part of a decade, games like
Minecraft and Roblox have been giving metaverse-type experiences; Second Life and Eve Online have
been active since 2003, and World of Warcraft debuted in 2004. Second Life, with its creator-led economy
and enormous sandbox environment, is one of the closest metaverse analogues. In Second Life, you can do whatever you want,
and some people have been documented spending their whole lives in the game, living off
the virtual land, harvesting the game's in-game currency, Linden dollars, and attending events. Crypto games like The Sandbox and Decentraland
are turning the videogame economy on its head in the 2020s by introducing digital assets
into the mix. You can not only import your own non-fungible
tokens (NFT) into the games to purchase virtual land, but you can also utilise the games'
fungible governance tokens to change the parameters of the virtual environment you'll inhabit,
explore, and develop in. Both are powered by cryptocurrencies: The
Sandbox employs fungible SAND tokens as in-game currency and NFTs to represent parcels of
land and other game-native goods, like as assets that beautify your avatar, whilst Decentraland
uses fungible MANA tokens and comparable non-fungibles for virtual assets.
You only need to connect a crypto wallet,
such as MetaMask, to establish accounts. However, with Decentraland, you can play as
a guest without connecting a crypto wallet. The Sandbox is technically in alpha (testing),
and the first season has ended, therefore you won't be able to play it until Alpha Season
2 is launched, the date of which has yet to be determined. Aside from the crypto-economics, these games
are just like any other sandbox game. You may walk around the games’ respective
virtual worlds, hanging out with the businesses and celebrities that are vying to corner the
market.
You may roam around virtual locations like
retail malls, art galleries, and plazas and talk to others, play games, build houses,
and attend events. Decentraland even hosts its own music festivals. Unfortunately, despite advances in computer
game visuals, many of the current games seem little better than Second Life did in 2003. But, at least in theory, the magic is in the
bonds you can form with your virtual brethren. Meet individuals from all across the world
for job or enjoyment. There are numerous hangout spots in the metaverse. While large open worlds like The Sandbox and
Decentraland are great places to congregate, you may also experiment with custom-built
rooms on platforms like Spatial.
These apps are designed specifically for events,
conferences, and meetings. Spatial can be accessed with a Web 2 login,
such as Google, or a Web 3 login, such as MetaMask. Spatial's virtual worlds are divided into
rooms, which you can visit or construct yourself. NFTs are supported by Spatial's galleries. Spatial's world can be explored via mobile,
Steam, a browser, or an Oculus VR headset. Virtual reality excels at one of Ball's metaverse
criteria: presence. Put on a virtual reality headset, such as
an HTC Vive, Valve Index, or Meta (previously Oculus) Quest, and enter cyberspace. Meta (previously Facebook) is developing a
social hub for its VR headsets, and Steam's VR software comes with a virtual house preinstalled. Games like VR Chat pre-dated bitcoin, and
allow you to visit rooms full of other individuals using VR headsets, dressed in whichever avatar
they desire. Companies such as MetaHub are establishing
virtual hangout areas for conferences and corporate events, and Decentraland will organise
its inaugural music festival in 2021 – though musicians have been doing so in Second Life
long before it was hip.
Hanging out is where the metaverse's boundaries
begin to dissolve and the marketing spiel begins to disintegrate. Is Zoom a critical component of the metaverse
due to its track record of connecting workplaces and driving a work-from-home revolution? Or, as Mark Zuckerberg highlighted in his
Meta address, is it an unconvincing alternative to reality that substitutes face-to-face interaction
with rows of faces on screens? Make a 3D avatar that resembles you… or
not. Your avatar is an important aspect of your
metaverse identity. For some, profile-image NFTs such as CryptoPunks
or the Bored Ape Yacht Club are sufficient for Discord and Twitter, which are largely
text-based platforms where a 2D photo suffices. For 3D environments, apps like Ready Player
Me provide resizable digital identities that, according to the company, can be used in 1,330
apps and games, including Nike's RTFKT, Somnium Space, and VR Chat.
You could even buy an NFT sneaker from RTFKT,
or an avatar from its planned “Avatar project,” although it’s unclear which games will let
you “wear” these. In Somnium Space, an Ethereum-based virtual
reality open environment comparable to Decentraland, you can import a Ready Player Me avatar made
from nothing more than a selfie. According to Ball's paradigm, this satisfies
the interoperability criterion – the ability to carry your digital assets with you regardless
of which platform or software you are using. Invest in virtual real estate, NFTs, or tokens. Of course, if you don't want to give up reality
just yet, you might always invest in the popular virtual worlds. There are numerous approaches that can be
taken. You may invest in NFT avatar drops, like those
offered by Nike or Adidas.
You may speculate on virtual land or in-game
items similar to those available on Axie Infinity, Decentraland, and The Sandbox. You might also invest in such games' fungible
tokens, which serve as in-game cash. If you're not sure which token to invest in,
you could always invest in a metaverse index fund, such as Index Coop's Metaverse Index
(MVI). The MVI rebalances its portfolio based on
the top metaverse currencies of the day. If cryptocurrency isn't your thing, you could
consider investing in the stock of virtual reality and metaverse companies. One firm that is betting big on the future
of virtual and augmented reality is Meta; one analyst on Seeking Alpha thinks that the
corporation will have invested $70 billion on the concept between 2014 and 2023.
Stocks in virtual reality and the metaverse,
as well as private investments, are also on the table. What Exactly Is Crypto Lending, and How Does
It Work? Blockchain-based decentralised lending is
a new alternative to traditional banking and fiat currency. Because of the rise of alternative assets
such as DeFi and tokens, the crypto lending sector is expanding. While there are numerous decentralised cryptocurrency
loan platforms, none provide a diverse range of cryptocurrencies from various regions. A crypto lending platform is a website that
allows investors to borrow money in order to boost the possibility of their profits. The primary purpose of such platforms is to
empower the bitcoin market while also providing investors who are unable to do so due to a
lack of leverage or fiat with something to use. Crypto lending is a sort of decentralised
financing in which investors lend their bitcoins to various borrowers. In exchange, they will get interest payments,
commonly known as "crypto dividends." Rates of interest may differ depending on
the platform and coin. You can learn why 2021 is the best year for
bitcoin. The lender, the lending platform, and the
borrower are the three main players participating in the crypto lending process, which takes
us to the crypto lending process.
The Crypto Lending Methodology The borrower visits a crypto lending platform
and applies for a crypto loan. Before the request could be processed, the
borrower would need to be registered on the platform. Typically, the required investment is disclosed
as soon as you enter the amount you wish to borrow. To make graphics, we would use the famous
loan site Celsius. There is a list of stable coins from which
you can borrow, as well as a USD option.
By default, the amount of collateral required
for the request to be accepted will be displayed in BTC as soon as you enter the amount you
wish to borrow. Until the borrower is able to repay the entire
loan, the borrower will not be able to recover the collateral. Lenders will instantly fund the loan through
the platform, which lenders will not be able to view. Lenders are paid interest on a monthly basis,
and when the borrower repays the loan in full, he receives the crypto collateral he pledged
back. In summary, the lender takes part in the crypto
lending process by depositing their crypto assets for a fixed or flexible duration in
order to receive passive income on their holdings. Borrowers must use their crypto assets as
security for loans rather than selling them, and they must pay interest on the loans. The bitcoin lending platform serves as a regulated
intermediary for the lending and borrowing process.
The lending platform could be centralised
or decentralised, which would impact how the loan process is approached, which could include
matching orders, liquidity pools, or codes. However, there are inherent hazards associated
with crypto lending. Risks associated with volatility. Many cryptocurrencies are subject to a wide
range of price changes. This risk is readily avoided by putting money
in a savings account and investing in safe coins. Consistent coins, such as the USDT, are those
that are connected to an underlying asset with a stable value and hence have a low risk
of volatility. There is insufficient legal certainty. Formal concerns may occur, especially when
dealing with DeFi providers, because they lack licences, a CEO, and legal contracts,
signalling that you are not dealing with a legal organisation. If CeFi platforms, such as Celsius, do not
meet their contractual commitments, you may be able to sue the platform provider.
Risks of insolvency Because crypto savings
accounts are not insured by the state, you could lose all of your money if the platform
provider goes bankrupt. You should always be informed of your crypto
loan platform provider's financial stability, and you should be wary of less-established
platforms. Risks to the third party Whether you're a
lender or a borrower, cryptocurrency lending platforms may use your cryptocurrencies; they
generally lend them to cryptocurrency exchanges, hedge funds, and other institutional investors. As a result, if any of these counterparties
fails to return the bitcoins, your loan platform may become bankrupt. 'Sandwich traders' are making a fortune on
cryptocurrency. The vast majority of them are bots The best part of any sandwich is usually found
between the slices of bread. When it comes to cryptocurrency trading, though,
being trapped in the middle of a sandwich trade is far from ideal, and it usually means
you've been beaten by a machine.
Cryptocurrency trading is not limited to humans. Developers construct and deploy bots to automate
bitcoin trading. According to a recent Bloomberg story, these
bots have amassed hundreds of millions—and maybe billions—of dollars in earnings across
the Ethereum ecosystem in recent years by employing a popular strategy known as "sandwich
trading." "Sandwich trading" refers to the method by
which a bot is built by software engineers to detect when another trader attempts to
purchase a token or a piece of cryptocurrency on a blockchain network, such as Ether or
Cardano.
The bot then places an order on the same token. If the bot is successful in completing the
buy before the other trader, the price of the in-demand token will rise. However, it's possible that the person who
was attempting to purchase the token in the first place still desires it. That is when the bot "finishes the sandwich"
and sells the token to the trader at a higher price than the trader would have paid if the
bot had never appeared. Even though it's unsportsmanlike, experts
informed Bloomberg that sandwiching trades are a legal method of blockchain trading. Developers deploying these bots have totally
swamped the Ethereum market in recent years, amassing tremendous profits along the way.
The strategy has been so successful that,
according to Bloomberg, it has become more difficult for other traders using bots to
make money on Ethereum…because there are so many bots. As a result, traders are now sending their
bots to do a sandwich manoeuvre on smaller blockchains such as Solana, Polygon, and Avalanche. According to recent reports, several of these
blockchains are dealing with the sudden exponential spike in traffic. After months of experiencing major congestion
issues, Solana announced in January a series of recent developments aimed at addressing
the increase in bot traders, including the implementation of a series of "flow control"
measures designed to improve network performance and manage the influx of sandwich trading
bots.
During the Super Bowl commercial campaign,
a cryptocurrency exchange will give away Bitcoin As part of a Super Bowl commercial campaign,
cryptocurrency exchange FTX is giving away hundreds of thousands of dollars in Bitcoin. The ad will air during the second half of
the NFL championship game between the Cincinnati Bengals and the Los Angeles Rams. The sweepstakes will have four winners, but
the amount of Bitcoin awarded will be determined by when the advertising airs on the East Coast. For example, if the ad airs at 9:20 p.m. on
Sunday, the four winners will each receive 9.2 BTC, which is approximately $390,000 as
of Monday afternoon. If the ad is played later in the game, such
as at 10 p.m., the reward money rises to 10 BTC, or approximately $425,000. Participants must follow FTX's Twitter account
and retweet the exchange's pinned tweet between the time the ad airs on Sunday and 11:59 p.m.
that night to enter and win. According to the sweepstakes rules, the four
winners will be picked at random.
FTX isn't the only exchange taking use of
the country's greatest sporting event to draw attention to the burgeoning cryptocurrency
market. According to the Wall Street Journal, Coinbase,
the largest US exchange, and Crypto.com are both advertising advertisements. "It's a method for us to get our name out
there," FTX founder Sam Bankman-Fried remarked. "It's difficult to find a more prominent place
to do that than this." Bitcoin, and other cryptocurrencies in general,
have had an eventful few months. Bitcoin reached an all-time high of $69,000
in October, as some investors regarded the cryptocurrency as a hedge against inflation. However, Bitcoin has recently fallen in pace
with traditional stocks, which have been in decline due to concerns about the Federal
Reserve's plan to raise interest rates and the situation in Ukraine. Bitcoin fell below $34,000 last month. Bitcoin has risen from $37,400 on Friday to
roughly $44,000 on Monday afternoon.
The value of the flagship cryptocurrency has
increased by more than 5% in the last 24 hours alone. Other cryptocurrencies also closed the day
in the green on Monday. Ethereum, the second-largest digital asset,
surged 4.45 percent to $3,130, Ripple rose 17.2 percent, and Cardano rose 4.75 percent. How to Mint Invisible Friends NFT Coins Non-fungible tokens (NFTs) have recently grown
in popularity; yet, many new initiatives have been dangerous, prone to value stagnation,
minimal effort, or, worse, outright scams. In this regard, credibility, integrity, and
transparency are extremely important (and becoming increasingly rare) in the area, and
the Random Character Collective is one of the pillars of these ideals. The Random Character Collective has established
an organic community of creators (artists in both physical and digital mediums) and
consumers over the course of several successful projects, coining the "walking" category of
animated NFTs. The Invisible Friends collection is a series
of 5,000 animated NFTs designed by Markus Magnusson and is the Random Character Collective's
most recent and possibly most hyped endeavour.
The Invisible Friends collection is now in
the pre-mint stage, with the first holders of the NFTs unknown. How to Amass Invisible Friends Because the Invisible Friends project has
not yet began its public minting phase, the greatest value proposition at this time is
the ability to obtain a mint spot by entering the public mint's whitelist. If you are successful in getting on the whitelist,
the price to mint an Invisible Friend on its website is 0.15 ETH plus gas fees, which must
be paid via an extension-based cryptocurrency wallet such as MetaMask. How to Obtain Whitelist Status for Invisible
Friends NFT Collection The whitelist to mint, like many other NFT
projects, is intended to incentivise community engagement, so ways to get on the public whitelist
include holding other Random Character Collective tokens, winning Twitter sweepstakes for people
who create Invisible Friends fan art, purchasing some of the limited Invisible Friends merchandise,
or winning giveaways on its Twitter.
Invisible Friends NFTs Are What Are They? Invisible Friends is a collection of 5,000
animated NFTs depicting walking avatars with translucent skin. NFTs have a diverse set of characteristics
that contribute to their scarcity and market value. The Random Character Collective has already
announced a 3D cooperation with Nguyen Nhut, demonstrating the potential to tie future
(airdroppable) projects into Invisible Friends in the same vein as the Bored Ape Yacht Club
with the Mutant Ape Yacht Club, which is a possible long-term value increase. Who Is the Designer of Invisible Friends? Markus Magnusson started the Invisible Friends
project after showing a variety of walk cycles on social media, and he joined the established
Random Character Collective. Magnusson has previously released NFTs that
have empirically fetched a significant floor price, and the Random Character Collective
has already released a number of popular "walking" NFT collections. In this regard, the makers of Invisible Friends
are trustworthy and experienced, and they have also proven to be transparent throughout
the collection's creation process.
On OpenSea, how can you purchase Invisible
Friends? Once the minting process is completed, Invisible
Friends can be purchased on OpenSea, removing the randomness of the minting process, however
the collection's floor price will almost definitely be significantly more than the 0.15 ETH mint
price. Purchasing Invisible Friends on OpenSea will
be similar to purchasing from any other NFT collection in that you will require an extension-based
wallet with enough Ether to meet the price of a listed NFT and the associated gas cost. Maintain the Security of Your NFTs A hardware wallet, which is completely isolated
from the internet, is the greatest long-term solution for keeping your Invisible Friends
(and other Ethereum-based NFTs) safe. In this way, NFTs and other assets held on
hardware wallets are protected from phishing attacks produced by fraudulent URLs. Ledger's Nano X and Nano S are two of the
most popular hardware wallets, with compatibility for most blockchains and full NFT support
on both the Ledger hardware wallets and Ledger Live. Having said that, hardware wallets cannot
defend against social engineering vulnerabilities, thus the 24-word recovery phrase linked with
your hardware wallet is the path of least resistance to the cash in a hardware wallet
and should be secured as such.
Hardware-based assaults are also conceivable,
but most people consider them to be less dangerous than social engineering attempts. Where Can I Purchase Ethereum For NFTs? To buy or mint an Invisible Friend or any
other Ethereum-based NFT, you'll need Ether, which will cover the Ethereum Network's gas
fees as well as recompense the project's artists and distributors, in this case Markus Magnusson
and the Random Characters Collective. To purchase Ether, you must use a cryptocurrency
exchange, same to how you would purchase foreign cash. These exchanges are classified into two types
in the cryptocurrency space: centralised exchanges (CEXs) and decentralised exchanges (DEXs). CEXs are arguably easier to use and better
for transferring funds between fiat currencies and digital assets, whereas DEXs have lower
fees and more esoteric token trading pairs for transferring funds between digital tokens. Gemini, eToro, Coinbase Global Inc. (COIN), and Voyager are among the greatest
CEXs, all of which have desktop and mobile clients that may be linked to debit and credit
cards, as well as bank accounts.
Is Minting an Invisible Friend NFT Worth It? Overall, considering the realistic timeline
and reputation of the project, as well as the current demand in the NFT field, minting
an Invisible Friend has a relatively minor drawback (assuming that getting into the whitelist
is taken for granted). Looking at the current prices of the other
Random Character Collective projects and the community passion surrounding fan art and
the mint whitelist, the upside is also rather large. Having said that, the long-term value of Invisible
Friends (or any other NFT project for that matter) is very speculative and should not
be kept without diversification and hedging.
Bitcoin may continue to tumble, but how long
will the 'crypto winter' last? January frightened the market, which was already
reeling from a greater sell-off. While BTC lost 50% of its value and the market
suffered hundreds of millions of dollars in losses, the market appeared to be on the verge
of recovery at the time of publication. Scottish historian Niall Ferguson, on the
other hand, feels that if Bitcoin continues to follow its historical trend, it could fall
further, as it did in 2017. According to him, "If this historical pattern holds true, the
price would plummet to a low of $11,515 in November, 83 percent below its November 2017
high." We should recall that economist and Nobel
laureate Paul Krugman recently expressed reservations about the crypto asset class. The sceptic drew analogies between the volatile
bitcoin market and the collapse of the US property sector in 2007 and 2008.
Ferguson, on the other hand, says Krugman's
reasoning "does not appear to be the appropriate historical analogue." He contended that. "That is not to suggest that the crypto winter
cannot inflict a chill greater than the polar vortex or bomb cyclone conjured up by Roubini
and Krugman." Having said that, Ferguson's financial history
application anticipates that this crypto-winter will soon come to an end. According to him, "It will be followed by a spring during which
Bitcoin makes steady progress towards being not just a volatile derivative of digital
gold, but trustworthy digital gold itself." In a similar vein, American entrepreneur David
Marcus, co-founder of Diem, has predicted that Bitcoin will be "alive and well in 20+
years with compounding relevance over time." Indeed, he coined the term "leaderless" leader
on Twitter.
Crypto-aftermath winter's on Web3 Despite concerns about the so-called "Crypto-Winter,"
Marcus earlier claimed that these are the times for "the best entrepreneurs to develop
the best enterprises." And, in the future, Web3 chatter will continue
to grow in popularity. Google's Web3 future was confirmed during
Alphabet's recent fourth-quarter results call. According to Sundar Pichai, "With regards to Web3, we are absolutely considering
blockchain, which is an intriguing and strong technology with numerous uses, far more than
any other application." Google's cloud division also recently announced
the formation of a blockchain application development group. Meta is clearly facing stiff competition. Shiba Inu News: Why Is SHIB Increasing in
Value? The war for meme coins rages on. The cryptocurrency markets as a whole have
seen a respectable recovery during the last week. However, Shiba Inu cryptocurrency news has
pushed SHIB's value significantly higher. Bitcoin's value has increased about 20% in
the last week alone.
Ethereum has been performing nearly as well
as bitcoin. And Dogecoin, the memers' favourite cryptocurrency,
is up more than 20%. However, SHIB's value has increased by about
60% in the last week. What is the case with the dubbed "Dogecoin
killer?" Despite some analysts' assertions that this
canine-themed altcoin has lost its allure, it surely hasn't. You see, one of the most serious issues with
SHIB is the enormous circulating supply. At the time of the previous check, it totalled
more than 549 trillion tokens. Even Dogecoin's supply is negligible in comparison
(132.7 billion). And this severely restricts its capacity to
evolve into a token capable of competing on a value basis. That is one of the reasons SHIB trades at
$0.00003359 per token whereas DOGE trades at $0.16. According to the newest Shiba Inu cryptocurrency
news, it appears as though some investors are beginning to understand this.
And some are attempting to rectify the situation
in the process. Shiba Inu Crypto News That's Boosting Its
Value The mobile app Brick Buster completed its
first Shiba Inu burn in late 2021. As a result, about 120 million SHIB tokens
were destroyed. The games developer transferred over 120 million
tokens to a dead wallet using the $5,000 gained from advertising income. As word of the fire spread, the price of SHIB
increased ever so little. And since then, the game has increased its
efforts to burn SHIB. By January 10, Brick Buster had burned 359
million tokens.
And there is speculation that February's burn
will be the largest yet… It is believed to number in excess of 500
million tokens. This gradual burn is the game's fundamental
premise. The objective was to collect all advertising
revenue, convert it to SHIB, and burn it. This, in combination with a continuous increase
in functionality, should theoretically boost the value of SHIB. For instance, last year saw the birth of the
decentralised exchange ShibaSwap. Similarly, last year, Paraguay's main entertainment
group declared it would accept SHIB as payment. Furthermore, retailers such as Lowe's (LOW),
GameStop (GME), Petco (WOOF), and Ulta (ULTA) have agreed to accept SHIB as payment. However, the majority of this news is not
responsible for SHIB's recent price increase. Recently, the Shiba Inu cryptocurrency news
that has been driving it higher is about the largest burn to yet. Bigger Entertainment's CEO is looking to spearhead
a 1 billion SHIB token burn. Furthermore, Shiba Inu recently introduced
the Shiboski NFT collection, resulting in the burning of 109 million tokens. Is Now the Time to Invest in SHIB? SHIB's dream of being the Dogecoin killer
remains an open subject.
However, there is cause to be bullish on this
cryptocurrency in the immediate run. At the very least, because all of this Shiba
Inu cryptocurrency news is creating a stir. If these burning garner the attention of other
organisations who follow suit, the ramifications for SHIB might be enormous. Nonetheless, these burns account only a negligible
proportion of the total quantity of SHIB in circulation. Furthermore, it appears as though a large
number of people are trading on the news, which makes sense. No other market is as impacted by news stories
as the crypto markets are. However, SHIB still has a very long way to
go before reaching the all-time high of $0.01 per token.
And it will require a large number of more
tokens to be spent before that occurs. Shiba Inu Crypto News in a Nutshell True, supply and demand determine the path
that any coin will take. However, much of that demand is driven by
what is happening in the news cycle. When China "banned" cryptocurrency, it threw
markets into a tailspin… For around one week. When Russia said it would prohibit cryptocurrency,
prices fell across the board. We are now seeing a renaissance a couple of
weeks later. The takeaway from all of this Shiba Inu cryptocurrency
news is that its impacts will be transient. However, if the rate of SHIB combustion increases,
this could act as a significant catalyst moving forwards. Is it a good investment? Only you are capable of answering that question.
While its applications are expanding, it is
still a very speculative token. It is never a good idea to invest your retirement
funds in penny stocks. And we'd apply the same logic to a token trading
at a fraction of a cent. However, if you're a gambler with a few dollars
to spare, Shiba Inu could take you on a fascinating voyage. And it's likely to have more room for growth
in the future than Dogecoin does. We hope you enjoyed watching and listening
to this video, Please let us know your opinion in the comments area below. If you found our content useful, please like
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