Ethereum supply surpasses 120M ETH as staking, restaking surge
Despite Ethereums inflationary trend, staking and restaking gains momentum, boosting network security and rewards.
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Despite Ethereums inflationary trend, staking and restaking gains momentum, boosting network security and rewards.
Blackburn joins Donald Trump and other politicians embracing Bitcoin.
Astar Network successfully burns 350 million ASTR tokens, marking a significant milestone in optimizing the networks tokenomics and enhancing sustainability. (Read More)
Shiba Inu (SHIB) has begun July on a positive note, with several on-chain metrics painting a bullish signal for the second-largest meme coin by market cap. These bullish developments could provide the much-needed turnaround for the meme coin, which had a June to forget. SHIBs Burn Rate Surges By 16,854% Data from the burn tracking website Shibburn shows that Shiba Inus burn rate spiked by over 16,854% in the last 24 hours, with over 300 million Shiba Inu tokens burned during this period. This is massive for the meme coin, given the positive impact the token burns have on its price. These token burns help decrease SHIB’s circulating supply, which ultimately drives up its price, especially if the demand for the meme coin is on the rise. Related Reading: Crypto Analyst Predicts 45% Drop For Bitcoin, But Says It Wont Go Below This Level Interestingly, on-chain data shows that the demand for Shiba Inu is rising, with investors regaining their bullish sentiment towards the meme coin and looking to add to their positions. This is based on data from the Market Intelligence platform IntoTheBlock, which shows that the concentration metric has turned bullish, meaning that Shiba Inu whales and investors are adding to their positions. The demand for Shiba Inu is also evident in its spot and derivatives trading volume, which have spiked since the beginning of this month. Data from CoinMarketCap shows that over $191 million in SHIB was traded in the last 24 hours. Additionally, data from Coinglass shows that SHIB’S derivatives trading volume has surged by 170% in the last 24 hours. The increased demand for Shiba Inu is also significant, considering how much the meme coin declined in June due to the Shiba Inu whales who offloaded a considerable amount of their holdings. The meme coin also took a severe hit in June because of its strong positive price correlation with Bitcoin. However, Shiba Inu is expected to enjoy a price recovery as the flagship crypto is rebounding nicely. History also suggests that this month will be bullish for the meme coin, with data from Cryptorank showing that SHIB has ended the last two Julys in the green. Shiba Inu Bullish Fundamentals Coinbase Derivatives is already finalizing plans to list the first-ever US-regulated Shiba Inu futures contract. The crypto exchange revealed in its filing to the Commodity Trading Futures Commission (CFTC) that it plans to list SHIB’s future contacts on or after July 15. This move is bullish as it could help expand the meme coins adoption, especially among institutional investors. Related Reading: Analysts Says Cardano Has Bottomed And Will Rally To $0.8, But It Must Hold This Level Furthermore, listing a regulated futures market for SHIB could also set the stage for the launch of a Shiba Inu Spot ETF. Bloomberg analysts James Seyffart and Eric Balchunas have hinted at different times that the Securities and Exchange Commission (SEC) is unlikely to approve a Spot crypto ETF without a regulated futures market. Featured image created with Dall.E, chart from Tradingview.com
Shiba Inu (SHIB) experienced a 7.85% price drop, but burn rate surged 4,822%, as the community incinerated 44,302,985 SHIB in…
The post Shiba Inu Burn Rate Soars 4822% Despite WazirX Hack, Will Price Rebound? first appeared on The Crypto Basic.
Within the ever-evolving realm of cryptocurrencies, the liquidity of the Shiba Inu (SHIB) ecosystem is now soaring to an astounding 800 million. This spike highlights the active trading and increasing investor interest in the well-loved meme currency, paving the way for future price changes and tactical adjustments within the SHIB community. Related Reading: Render (RNDR) Attracts Big Investors: $1 Million+ Whale Moves On The Rise Strategic Buying Ahead Of The Burn The Shiba Inu community is getting ready for a big token burn that the market is expecting to happen soon. In anticipation of the impending burn, which will take 250 million SHIB out of circulation, there has been a deliberate build-up of the token across many wallets. Take a look at this image. @1cDream The #shib pooled is at 800 million. The price just made a clear break of that trend line. We also are getting a substantial amount in our wallet ready for the next shib burn which is scheduled at 250 million. Tomorrow I am trading live at pic.twitter.com/SISivtChdO Casey Stubbs (@caseystubbs) July 15, 2024 The purpose of token burns is to intentionally decrease the amount of tokens in circulation, making the remaining tokens more valuable. This action is anticipated to increase SHIB’s value, and the community’s initiative shows that they strongly believe in the cryptocurrency’s long-term potential. Investors are showing their faith in Shiba Inu’s future by gathering tokens and getting ready for the burn. This action demonstrates a general optimism within the SHIB community in addition to supporting the ecosystem’s strategic efforts. Market Sentiment And Spiking Transactions The amount of SHIB transactions has dramatically increased, according to recent data. Shiba Inu transaction volume hit an amazing 5.71 trillion SHIB in a single day on July 8, 2024, according to IntoTheBlock. This increase in transaction volume may indicate planned phases of accumulation or distribution since it indicates increased activity and participation from key holders. The market still has mixed feelings about SHIB, but most people are optimistic. Based on what we know now, the price of Shiba Inu will have dropped by about -4.04%, or $0.00001831, by August 15, 2024. At 62, the Fear & Greed Index shows that people are moving towards Greed, but the general mood is still neutral despite this short drop. Since SHIB has had 16 “green” days out of the last 30, and its price has changed by 7.25%, buyers may have chances to buy strategically given the way the market is right now. Analysis By Experts Meanwhile, Himanshu Maradiya, founder and head of the CIFDAQ Blockchain Ecosystem, is not sure how SHIB will fare in the future. He knows that the cryptocurrency market is always changing and that Shiba Inu is a very risky memecoin. Maradiya says that buyers shouldn’t be expecting big price gains. Instead, they should focus on small returns that they can actually achieve. More seriously, he thinks that Shiba Inus will cost between $0.0001 and $0.0003 by 2024 or 2025, given that the market stays strong and the SHIB ecosystem continues to grow. The community of Shiba Inus has been aggressively supporting the long-term possibilities of the SHIB token. The deliberate emphasis on carefully amassing and then burning tokens shows a great faith in the basic value proposition of the asset. Related Reading: Big Filecoin Rally Ahead: Analyst Predicts 4,000% Uphill Run The Shiba Inu ecosystem seems ready for more expansion even if opinions on more general cryptocurrencies vary. Important markers, like constantly rising transaction volumes and liquidity, point to rising token acceptance and use. Furthermore, the tactical moves of the communityincluding the forthcoming coordinated token burnhave the power to greatly affect SHIB’s worth and general appeal in the next months and years. Analytically, although market projections remain cautiously optimistic, projecting SHIB price targets in the range of $0.0001 to $0.0003 over the next couple of years, the community’s shown dedication to the token’s development and utility justifies close observation by both enthusiasts and investors equally. Particularly the forthcoming burn event will be a turning point that can change Shiba Inu’s course of development and confirm its place in the larger cryptocurrency scene. Featured image from Pexels, chart from TradingView
The Shiba Inu (SHIB) burn rate is again under the radar following a drastic decline in the number of tokens burned. This development is significant considering the impact that these token burns are known to have on the meme coin. Shiba Inu Burn Rate Crashes By Over 99% Data from the burn tracking website Shibburn shows that Shiba Inus burn rate has declined by 99.44% in the last 24 hours. Only 120,888 Shiba Inu tokens have been burned during this period, which is way low compared to the over 21 million tokens that were burned the previous day. Related Reading: Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Heres Why The instability in the number of Shiba Inu tokens burned daily continues to be a problem for the meme coins ecosystem. This issue is believed to be mainly due to the significant drop in the number of daily transactions on the Shibarium network. The layer-2 network is known to have contributed largely to the 76 billion Shiba Inu tokens that were burned last year. However, Shibarium hasnt had much impact on these token burns since the start of the year with its daily transactions dropping from millions recorded last year to just a few thousand transactions as of late. This development has hindered the network from deploying a part of the transaction fees earned to Shiba Inu burns like it did last year. Meanwhile, while Shiba Inus burn rate has dropped by over 99%, a positive takeaway is that it has increased by almost 15% in the last seven days. This is undoubtedly a welcome development that members of the Shiba Inu community will be glad about. However, the focus remains on sustaining this trend, given the positive impact it could have on Shiba Inus price, especially heading into the latter stages of the bull run. SHIB Price Remains Unaffected Shiba Inus price is currently on an upward trend despite the decline in the burn rate. Data from CoinMarketCap shows that the meme coin is up over 8% in the last 24 hours. Shiba Inus trading volume is also up by over 7% in the last 24 hours, signaling investors bullish sentiment towards the meme coin. Related Reading: Dogecoin Social Sentiment Turns Bearish And Drops To March Levels, What This Means For Price On-chain metrics also paint a bullish picture for the meme coin. Data from the market intelligence platform IntoTheBlock shows that Shiba Inu whales have been accumulating the meme coin in the last few days. Specifically, on-chain analytics platform SpotOnChain revealed a whale that just recently acquired 149.3 SHIB tokens Meanwhile, the Shiba Inu ecosystem has experienced notable network growth, suggesting that new crypto investors are rotating their capital to the meme coin. Shiba Inu will likely continue to record an increased demand, with meme coins projected as one of the leading narratives in this bull run. Featured image created with Dall.E, chart from Tradingview.com
NOTs price will likely undergo a major bullish reversal move in the coming weeks, supported by Notcoins initiatives to bring more users to its gaming ecosystem.
The Curve CEO clarifies misinformation about the UwU Lend hack and CRV token burn, outlining preventative measures and repayment of bad debt.
The Terra Classic community is currently engaged in a pivotal vote on a proposal aimed at reviewing the LUNC burn…
The post Terra Classic Community Votes on LUNC Burn Tax Allocation Change first appeared on The Crypto Basic.
A massive Shiba Inu burn could occur today as popular community member 1c Dream prepares to incinerate 100 million SHIB…
The post Massive Shiba Inu Burn Coming Soon: Details first appeared on The Crypto Basic.
Explore Arctic Pablo Coin's presale, the top crypto to buy now! Learn about Trump and Fartboys latest news and why Arctic Pablo is leading the charge.
The post Arctic Pablo Coin Presale – Top Cryptos to Buy Now with Trump & Fartboy appeared first on Kanalcoin.
In recent weeks, Ethereum has displayed subtle signs of recovery amidst a generally bearish crypto market, with the altcoin mimicking Bitcoins modest uptrend. Despite Ethereums price increasing slightly by 0.2% over the last 24 hours, a parallel trend that might significantly affect Ethereums economic model has been unfolding beneath the surface. Decline In Network Activity [...]
The post Ethereum Burn Rate Hits Yearly Low: What This Means For ETHs Future appeared first on Crypto Breaking News.
Shiba Inu ecosystem team member and marketing lead Lucie has emphasized the importance of community effort in bolstering SHIB burns.…
The post Shiba Inu Team Says SHIB Lead Has No keys to Burn SHIB, as Any Token Burnt Needed To be Purchased first appeared on The Crypto Basic.
SOL price rallied 5% today, but on-chain data raises doubts about whether Solana can overcome the barrier at $190.
In a fascinating twist for the Shiba Inu (SHIB) community, the rate at which SHIB tokens are being burned has increased significantly, even as the price of the meme coin shows modest gains. Recent data from the Shibburn explorer indicates a 62.58% increase in the SHIB burn rate over the past 24 hours, with approximately [...]
The post Despite Price Lull, Shiba Inu Burn Rate Heats Up: Are Investors Preparing For A Mega Rally? appeared first on Crypto Breaking News.
Arctic Pablo Coin is not just another meme coin flooding the market. What sets it apart is its sophisticated deflationary mechanism and innovative presale structure. This isnt hypeits a meticulously designed crypto project that will reward early supporters handsomely.
The post Did PEPEs Moonshot Pass You By? Arctic Pablo Coin Could Be Your Gateway to Huge Returns appeared first on Kanalcoin.
Explore Arctic Pablo Coins explosive presale, Woulds meme drops and Zerebros latest utility push. Best New Meme Coins for Exponential Returns.
The post Arctic Pablo, Would and Zerebro | Best New Meme Coins for Exponential Returns appeared first on Kanalcoin.
The Ethereum burn address is a null address where ETH and other Ethereum-based tokens are sent to be permanently removed from circulation.
Floki Inu (FLOKI) has been in the spotlight recently due to its remarkable surge in value. This surge has caught the attention of many analysts, who are now optimistic about the future price movements of FLOKI and are predicting substantial gains in the near future. Over the past week, FLOKI experienced an impressive increase of […]
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