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Shiba Inu (SHIB) had an incredible run in 2021. The asset’s price rallied by many million percent. Early investors made millions of dollars in profit and, in some cases, even billions. The rags-to-riches stories solidified SHIB’s status as a “millionaire-maker.” People with average jobs became overnight millionaires. These stories skyrocketed SHIB’s popularity, especially among new and young investors. Also Read: Ripple (XRP) Receives Final Approval From NYDFS For RLUSD Here’s How People Made $1 Billion With Shiba Inu Source: Changelly If you purchased $10,000 worth of SHIB on Aug. 2, 2024, and sold them when the asset peaked on Oct. 28, 2021, your investment would have risen to around $1.03 billion. Your portfolio’s value would have increased by 10,303,317.81% (10.30 million percent). Also Read: BRICS: Expert Says Nations Will Eventually Ditch US Reserves for Bitcoin Source: Changelly If you continued to hold the $10,000 worth of SHIB, it would...

Tether, the world’s largest stablecoin issuer, has minted an additional 1 billion USDT tokens on the Ethereum (ETH) blockchain, fueling speculation about a potential market surge.  This development coincides with the crypto community’s anticipation of the U.S. Securities and Exchange Commission’s (SEC) decision on a spot Ethereum exchange-traded funds (ETF), expected later this week. 1,000,000,000 #USDT (1,000,359,999 USD) minted at Tether Treasuryhttps://t.co/i6scFY73OO — Whale Alert (@whale_alert) May 21, 2024 Tether’s CEO, Paolo Ardoino , clarified on X (formerly Twitter) that this issuance was for “inventory replenishment” and was an “authorized but not issued transaction.” Picks for you Bitcoin key support and resistance levels to watch for a possible breakout 13 mins ag...

Police in China have announced the dismantling of a large underground banking gang accused of facilitating illegal transactions with almost $2 billion worth of tether (USDT). Sichuan and Chongqing authorities said on Tuesday that 193 suspects across 26 Chinese provinces have been arrested as a result of the operation.  According to local media, the gang allegedly used USDT to evade China ’s foreign exchange regulations and provide a means for criminals to send their funds overseas, transacting 13.8 billion yuan ($1.9 billion ). Tether’s history with China goes far beyond commercial paper Read more: How Triad-linked gang used crypto and casinos to launder $10B Two ‘dens’ in Fujian and Hunan belonging to the gang were reportedly destroyed by authorities in 2023 and 149 million yuan ($20.6 million) of funds linked to the gang were frozen as part of the case.  The gang’s illegal foreign exchange reportedly committed “financial fraud, job-related Crime s, o...

In an interesting turn of events, the short interest in MicroStrategy (NASDAQ: MSTR) has reached a massive figure of $3 billion, or 20% of its float, suggesting that the investors doing the short selling are exceptionally bearish on its future price, but also indicating the possibility of a mega short squeeze. Indeed, despite a recent rally for Bitcoin (BTC), to which MicroStrategy grants indirect exposure, some investors are betting a lot of money against MSTR, with the short bets accounting for about 20% of the company’s total available shares, as observed by Andrew Kang in an X post on March 4. MSTR short interest. Source: Andrew Kang According to the cryptocurrency entrepreneur, many of these bettors are “angry TradFi boomers trying to capture the premium to [net asset value (NAV)],” but the premium went from 50% before the spot Bitcoin exchange-traded fund (ETF) approval to 13% after it, only to recover to the highs of the current 70%. Picked for you This early PE...

Usually, the most precious gems are the hardest ones to find. This logic can also be true for cryptocurrency investing, with valuable cryptocurrencies sometimes going unnoticed by the majority.  In this reasoning, Finbold looked to the cryptocurrency market low-cap projects with sub-$1 billion in capitalization. Notably, we found three cryptocurrencies with solid fundamentals and relatively low perceived value. In the past, sub-$1 billion market cap assets managed to cross this psychological resistance in a matter of days. Interestingly, some achieved it with a purely speculative demand, without solid fundamentals, like Pepe (PEPE) and, most recently, Bonk (BONK) and Ordi (ORDI). However, the following list will focus on projects capable of attracting organic demand by utility. In particular, the best three cryptocurrencies with a sub-$1 billion market cap to watch for 2024 are Nano (XNO), Radix (XRD), and IoTeX (IOTX). Nano (XNO) Stocks Apple stock wipes $200...

The value of XRP is on a  bullish trendline in line with the overall trajectory of the cryptocurrency market . Undoubtedly, the focus on XRP is now centered on its next milestone, with the $1 mark representing a significant target . When examining the next XRP price target, a crypto analyst by the pseudonym EGRAG CRYPTO , in an X (formerly Twitter)  post on November 4, highlighted that with the token experiencing a surge in trading activity, key indicators point to a potential bullish trend and a possible price target of $1.3. EGRAG’s analysis focused on the weekly candle formation, providing valuable insights into the behavior of XRP’s price movements in the near future. According to the analysis, closing above $0.58 signals a bullish trend. However, the analysis emphasized that the candle formation must adhere to a bullish pattern, indicating sustained positive momentum. XRP price analysis chart. Source: TradingView The Analysis also reviewed the previous surge ...

Key Takeaways The total supply of stablecoins has fallen every month since UST collapsed in May 2023 Last month saw another $1.7 billion of outflows, the total supply now 33% off its peak Tether’s market share has increased amid stuttering rivals, but all other coins have seen large drawdowns Liquidity and volume in the space overall is thin and continues to fall If one wanted to sum up the past few years in crypto, the stablecoin market would be a good place to start.  The branch of the industry so important for liquidity has been heavily dented, with the total supply of stablecoins on the market now less than $125 billion. That represents a 33% decline from the peak of $188 billion, on the eve of the Terra collapse last May. Since that infamous Terra meltdown, which saw the $18 billion UST not-so-stablecoin evaporate into thin air, the market has continued to pare down. In line with a tightening in financia...

In response to a shrinking market share and increasing competition, Circle is strengthening its position with a $1 billion cash buffer to counteract challenges posed by dominant non-crypto entities like PayPal. Circle’s USD coin faces market pressure  The move is in response to a concerning decline in the circulation of Circle’s USD Coin (USDC), dropping from $45 billion at the beginning of the year to $26 billion . In contrast, Tether’s USDT grew in the same period. Circle’s CEO, Jeremy Allaire, noted that Binance, the world’s top crypto exchange, played a significant role in this decline by shifting away from USDC to promote BUSD a year ago. Stablecoins have proven valuable for traders. However, their usage in everyday consumer transactions remains limited. This is partly due to reduced investor trust following various scandals in the crypto industry. One notable incident was Circle’s disclosure of its $3.3 billion exposure to the struggli...

Ripple Labs, a technology company building financial products, including the XRP Ledger (XRPL), on the Ripple Protocol Consensus Algorithm (RPCA), plans to transform the real estate industry through tokenization. XRP, one of the most liquid cryptocurrencies, is issued on the XRPL, an open-source blockchain. Ripple, a blockchain company headed by Brad Garlinghouse, uses XRP in their On-Demand Liquidity (ODL) solution. Ripple Labs’ plans for real estate According to Antony Welfare, CBDC adviser at Ripple Labs, the technology firm believes tokenization has the potential to revolutionize the real estate industry . In a tweet on July 7, Welfare said their solution would allow users to tokenize real estate as collateral for loans.  #CBDCs are gaining traction globally and @Ripple CBDC team are focussing in on Real world use cases for a CBDC or #stablecoin. Last week I shared two real use cases at a CEE Fintech conference in Romania:#Tokenization is the Future of Real Estate · The pil...

Join Our Telegram channel to stay up to date on breaking news coverage Over $11 billion worth of cryptocurrencies has been stolen in different cryptocurrency hacking incidents since 2011. The figures calculated by InsideBitcoins.com show that a significant amount was lost in cryptocurrency exchange hackings. Other affected platforms include cryptocurrency wallets and mining platforms. The first blockchain hacking was in 2011 when Tokyo based Mt.Gox lost approximately 2000 BTC ($17.2 million). This was the only hack to be recorded that year. The hack was allegedly orchestrated due to a compromised computer belonging to an auditor within the firm. By Jan 2014, Mt.Gox was the leading Bitcoin exchange in the world based on the fact that it controlled at least 70% of all global Bitcoin transactions. However, the exchange suffered one of the biggest hacks in the world that rendered it bankrupt three years later. In February 2014, the exchange lost approximately $6.5 billion worth of...

Author: @0xMavWisdom LayerZero, also known as the “king of the full-chain,” completed a $120 million Series B financing on April 4th, led by a16z Crypto and Sequoia Capital, bringing its valuation to $3 billion . As a full-chain interoperability protocol, LayerZero has integrated with multiple protocols in the DeFi and NFT fields, including some excellent projects . This article will introduce LayerZero’s main projects . Bridge Stargate Stargate is the first dApp built on LayerZero and also a fully composable native asset bridge. With LayerZero’s Series B funding, Stargate’s daily interactions have surged. Currently, users can transfer various assets, including USDC, USDT, DAI, STG, RDNT, FRAX, and more, across 8 public chains that including Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Fantom, Metis, and Avalanche. A 0.06% fee will be charged for non-STG asset transfers. Additionally, users can provide liquidity on different public chains through Stargate and receive staking rewar...