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ALT is listed on Binance and surges by 5000%. What is AltLayer? Features, Token Economy, How to Apply for Airdrops

The 45th new currency mining project AltLayer (ALT) released by the exchange Binance last week has been opened for trading on time at 18:00 Taiwan time yesterday (25th) evening.

The increase at the opening was astonishing, soaring over 5000% from US$0.006, reaching a high of US$0.349 late at night, and was still fluctuating at a high of US$0.312 at the time of writing. The moving area reminds that the token fluctuates violently, please be careful of investment risks.

What is AltLayer (ALT)?
According to Binance Research Report, AltLayer is an open decentralized protocol designed specifically for rollups. Its core network builds a Rollups-as-a-Service (Raas) dashboard, which uses Optimistic and ZK Rollup stacks to enable Developers can quickly customize Rollups with fraud proofs and zero-knowledge proofs.

In addition, AltLayer also uses the "Restaked Rollups" re-pledge mechanism to enhance its security, decentralization, interoperability and convenience. Its core product consists of three key components:

VITAL: An Active Validation Service (AVS) where the operator will verify blocks and corresponding states submitted by the rollup sequencer and raise fraud proof challenges if necessary
MACH: This is a protocol that allows operators to re-stake Ethereum-based assets to support any claim on rollup status, providing faster rollups finality
SQUAD: This section provides decentralized sorting with economic support to facilitate the elimination of short-term viability issues, bad MEV, rent extraction, and other issues associated with rollups operated by a single sorter

Officially open for AltLayer airdrop applications
Facing the airdrop plan of early supporters, AltLayer has been able to officially open applications at 5 pm Beijing time on the 25th. This time users do not need to sign the wallet, but only need to post the address. The application period will last for one month until February 25th.

Airdrop targets include: AltLayer OG Badge NFT holders, Oh Ottie! NFT holders, Altitude event qualified participants, qualified EigenLayer restakers and Celestia stakers.

AltLayer Token Economics
According to the official description:
The total amount is 10 billion, and the initial circulation is 1.1 billion.
18.5% of total investor allocation
Binance Launchpool allocates 5%
Development team allocates 15%
Strategic Advisor Allocation 5%
Protocol Development Allocation 20%
Treasury allocation 21.5%
Ecosystem and Community Allocation 15%

Public account: Crypto Bear $BTC $ETH $ALT #ALT #BTC #ETH #rollup

PEPE Cryptocurrency: Unleashing the Investment Potential of $100 and Expecting to Hit $1 in the Future

Given the current speculative and volatile nature of the cryptocurrency market, PEPE’s value may currently be well below $1. However, if PEPE rises to $1, your $100 investment may increase in value.

To calculate the potential return, divide the target value ($1) by the initial investment amount ($100). In this case, $1 divided by $100 equals 0.01. This means that every time PEPE increases in value by $1, your $100 investment will grow in value to $1,000.

It is important to note that predicting the future value of any cryptocurrency involves a high degree of uncertainty. Prices can be affected by a variety of factors, such as market sentiment, adoption rates and broader economic trends.

While the prospect of PEPE reaching a $1 valuation could bring significant returns, investors must keep an eye on the crypto market, closely monitor PEPE's performance, and make investment decisions based on thoughtful consideration and risk tolerance.
Public account: Crypto Bear #PEPE🔥🔥 #BTC #ETH $BTC $ETH $PEPE

The 25-year-old Mercedes-Benz girl is a counterfeit currency dealer! Taichung defrauded 180 million yuan by selling USDT "directly to the fraud group"

High-profile encryption scam! In Taichung, a 25-year-old woman surnamed Chen pretended to be a currency dealer and was suspected of participating in a fraud case, inducing people to invest in Tether USDT, resulting in 134 people being defrauded and a total loss of NT$180 million. The police revealed that Ms. Chen used her sweet appearance and young identity as a means of fraud to make the victim lose her heart. Together with eight other accomplices, she obtained tens of millions of NT dollars in illegal gains from the fraud.

Drive a sports car and live in a mansion
Further investigation by the police revealed that although Ms. Chen transferred USDT to the cryptocurrency wallet designated by the victim as agreed, these wallets were actually controlled by the fraud group. After the victim received the USDT, the USDT mysteriously disappeared. Ms. Chen profited from the victims introduced by the fraud group and obtained illegal profits higher than the market through the difference between the buying and selling prices. Then, she used her identity as a currency dealer as a cover to create a breakpoint in the flow of money, thereby hiding the whereabouts of her criminal proceeds.

It is understood that Ms. Chen used to run a clothing store, but she turned her crooked mind to fraud. After participating in illegal activities, she lived an extremely luxurious life. At such a young age, he owns a seventh-phase elevator property worth NT$17 million and a Nantou villa worth tens of millions of NT$. In addition, her usual means of transportation is a Mercedes-Benz CLA200 car, and all these property gains are accumulated from her illegal gains from fraudulent activities.

Careful reminder: "Be careful when investing"
According to police investigation, Chen Nv and her 8 accomplices (including 5 men and 3 women, all young people in their 20s) engaged in fraud. She was responsible for contacting the victims attracted by the fraud group, and met them in person. During the process, she assisted them in purchasing Tether coins. According to the victim, during the USDT transfer process, Ms. Chen kept giving warm reminders, "Be careful when investing!" to create a credible image.
Public account: Crypto Bear #BTC #ETH $BTC $ETH

Three mainstream popular hype coins attracting attention in early 2024

In the cryptocurrency space, memecoins have established themselves as mainstream, and as we enter 2024, a new batch of memecoins are catching the attention of investors

From the rise of Dogwifhat on Solana to classic coins like Dogecoin and Shiba Inu, these meme coins are trading at high volumes, while their limited supply and loyal fan base set the stage for their potential growth.

Bonk（BONK）#BONK $BONK
Current price: $0.00001074*
Market cap: $6,801,229,83*
Bonk is a unique breed in the memecoin market, ranking 87th. It is the first dog-themed coin on Solana and has a very large circulating supply, measured in trillions. Bonk was created to enhance the liquidity of Solana-based DEXs and make them a currency of interest to traders and Solana enthusiasts.

Shiba Inu（SHIB）#Shibarium $SHIB
Current price: $0.000008849*
Market cap: $5,214,767,261*
Shiba Inu is a well-known name in the memecoin space, ranking 18th. It is an Ethereum-based token that is famous for its community-driven approach and association with high-profile figures. With the circulating supply reaching hundreds of trillions, SHIB remains a favorite among meme coin investors.

Dogecoin (DOGE) #DOGE​ $DOGE
Current price: $0.07801*
Market cap: $11,140,103,145*
Dogecoin, the pioneer of meme coins, has a strong showing at number 10. Originating from a popular internet meme, DOGE has become widely recognized in all walks of life and has even been endorsed by celebrities such as Elon Musk. Its unlimited supply and strong community support make it an important part of the memecoin market.

Public account: Crypto Bear #Solanan #BTC

The Biggest Twitter Bitcoin Scam: The 17-Year-Old Mastermind

In July 2020, 17-year-old Florida teenager Graham Ivan Clark orchestrated the largest Twitter Bitcoin scam in history. He has successfully leveraged high-profile accounts, including Elon Musk and Barack Obama, to reveal vulnerabilities in social media and the digital sphere.

The whole story of the scam:
On July 15, 2020, a series of tweets from infected accounts claimed to double Bitcoin by sending it to a designated wallet. Disguised as trusted figures such as Apple, Elon Musk, Joe Biden and others, these tweets force followers to act quickly, creating a sense of urgency and excitement within the crypto community.

Hacking techniques:
Hackers used spear phishing to target accounts and lure employees with administrative rights into revealing sensitive information. To ensure unrestricted access to the high-profile Twitter handle, the attacker changed the password.

Planner team:
Clark is the heart of this team, an astonishing 17-year-old. He planned the attack and worked with accomplices Mason Sheppard (19) from the UK and Nima Fazeli (22) from Florida. Clark demonstrated not only technical prowess but also a strategic understanding of exploiting others.

motivation:
The primary motivation is the pursuit of financial gain. By abusing trust and reputation, the hackers successfully tricked followers into sending over $100,000 in Bitcoin to designated wallets. Their coordinated efforts underscored the effectiveness of their carefully planned plans.

Follow-up:
Twitter quickly disabled the compromised accounts and launched an investigation. Cooperation by the FBI and other agencies led to Clark's arrest on 30 felony charges. Shepard and Fazeli also face charges of participating in a Bitcoin scam.
Public account: Crypto Bear #BTC #ETH $BTC $ETH

GBTC capital outflows have declined for 3 consecutive days! JP Morgan analyst: Bitcoin’s decline may stop

After the U.S. Securities and Exchange Commission (SEC) approved a Bitcoin spot ETF, which pushed the price of Bitcoin to nearly $49,000, BTC has fallen by more than 20% in just two weeks.

The main reason that the market generally blames is related to GBTC. Last week, JPMorgan Chase estimated that GBTC investors’ profit understanding will bring about US$3 billion in capital outflows (if management fees are not further reduced, there may be an additional US$5-10 billion. outflow), and now the total outflow of GBTC funds has reached as high as 4.786 billion US dollars as of yesterday.

Xiaomo: GBTC profit-taking is basically over, and BTC has limited room for further decline

Regarding whether GBTC will bring further selling pressure, JPMorgan analysts headed by Nikolaos Panigirtzoglou wrote in the latest report:

GBTC profit-taking has largely occurred, reflecting that much of the downward pressure on Bitcoin via this route should have subsided.

BitMEX Research data shows that after the highest single-day outflow of US$640 million on the 22nd, the outflow amount of GBTC has gradually decreased for three consecutive days, with an outflow of US$394 million yesterday (25th).

Loolonchain monitoring data pointed out that Grayscale transferred another 9,434 Bitcoins to Coinbase Prime yesterday (25th), a total of 103,134 Bitcoins have been reduced since the 11th, and it still holds 510,682 Bitcoins, worth approximately US$20.43 billion.

Currently, GBTC has seen 16.8% of its capital outflows. As for what will be the outflow rate of GBTC in the future? Bloomberg analyst James Seyffart previously predicted that GBTC’s outflow rate would be higher than 20%, but not exceed 35%.

Bloomberg analyst Eric Balchunas holds the same view as JPMorgan analysts. He recently wrote that GBTC trading volume has dropped again, which may be a sign of selling fatigue. Bloomberg data shows that GBTC trading volume was US$762 million on the 24th and US$762 million on the 25th, marking the fourth consecutive day of decline.

Unless fees are lowered, GBTC may continue to experience capital outflows

Meanwhile, JPMorgan analysts warned that if GBTC’s 1.5% fee is not reduced soon, the fund may continue to experience outflows and lose market share to competitors. Analysts said:

Grayscale’s Bitcoin ETF has two competitors: Blackrock and Fidelity, which have attracted $1.9 billion and $1.8 billion in inflows respectively so far. Their fees are much lower at 0.25% (no exemptions).

Public account: Crypto Bear #BTC #gbtc #ETH $BTC $ETH #SEC

How many SHIBA INU do you need to hold to become a millionaire in 2024?

Considering the current market conditions, the quest to become a Shiba Inu millionaire requires a detailed strategy and a timely start. In current market conditions, seizing the opportunity to acquire SHIB today promises substantial gains. However, the question remains: How many SHIBs are needed to secure a million-dollar fortune?

According to the latest market update, SHIB is worth $0.008662. Additionally, $207,166,834 of SHIB was traded on the exchange in the past 24 hours. For SHIB millionaires who aspire to reach their $1 million goal at $2 apiece, the formula is clear: Divide your $1 million goal by the $2 price. This arithmetic translates to acquiring 500,000 SHIB.

If the price reaches $2, how many SHIB does it take to become a millionaire?
To determine the current cost of this strategic investment, the quantity of SHIB (500,000) is multiplied by the existing price. This is equivalent to $5.21.

This basic calculation is for investors who have set a target of $3 million or $4 million when SHIB inevitably rises to the $2 price threshold. The journey to achieve Shiba Inu millionaire status in the long-term trading world is indeed feasible, albeit requiring a substantial capital base.

Market Dynamics Regardless, experts believe that real FOMO (fear of missing out) on SHIB will grip the market when the cryptocurrency reaches the $2 price target.
Compared to the all-time high of $0.000088, the $2 milestone seems like a distant goal for Shiba Inu.
Public account: Crypto Bear #Shibarium #SHIB #BTC #ETH $SHIB $BTC $ETH

BTTC, or Bitcoin Trust Certificates, is a fascinating innovation that bridges the gap between the traditional financial world and the growing field of decentralized finance (DeFi). To understand their potential, advantages, and role in the crypto ecosystem, we need to understand both areas in depth.

Potential of BTTC:
1. Accessibility: BTTCs make Bitcoin, the world’s leading cryptocurrency, accessible to a wider audience through regulated financial instruments like ETFs and ETNs. This gives traditional investors the opportunity to participate in Bitcoin investing, who may be reluctant to interact directly with crypto exchanges or wallets.

2. Improve liquidity: BTTCs may increase Bitcoin’s liquidity by bringing in new investors from traditional markets, thereby enabling smoother price discovery and potentially lower volatility.

3. Institutional Adoption: BTTCs provide institutional investors with a familiar and regulated investment vehicle, paving the way for wider adoption of Bitcoin and other cryptocurrencies by financial institutions.

Advantages of BTTC:
1. Reduced risk: Being regulated, BTTCs tend to have higher investor protection and transparency, and are less risky than holding Bitcoin directly on an exchange. This could attract risk-averse investors to the Bitcoin market.

2. Convenience: BTTCs can be traded on familiar brokerage platforms just like traditional stocks or ETFs, which simplifies investing for those who are already accustomed to such systems.

3. Diversification: BTTCs provide a way to expose a portfolio to Bitcoin without directly managing the underlying asset.

Importance in the crypto ecosystem:
1. Legitimation: BTTCs act as a bridge between the traditional and decentralized financial worlds, providing legitimacy and recognition to Bitcoin and other cryptocurrencies within the established financial system.

2. Infrastructure development: The growth of BTTCs can facilitate the development of robust infrastructure for custody, settlement and other services that are needed for mainstream adoption of crypto-assets.

3. Financial inclusion: BTTCs may bring the benefits of Bitcoin, such as censorship resistance and borderless transactions, to a wider range of individuals and institutions beyond the traditional financial system.

However, it is important to remember that BTTCs also have some disadvantages:
1. Centralization: BTTCs essentially involve reliance on centralized institutions for custody and issuance, which goes against the core principles of DeFi.

2. Counterparty risk: Investors investing in BTTCs face the risk that the institution that issues or manages the certificates fails to fulfill its obligations.

3. Fees: BTTCs often involve additional fees compared to holding Bitcoin directly, which can cut into potential returns.

In summary, BTTCs serve as an important bridge between traditional finance and decentralized finance, with the advantages of increasing accessibility, improving liquidity, and institutional adoption. Their role in the crypto ecosystem is to legitimize and facilitate broader participation in the world of digital assets. However, before investing in BTTCs, it is crucial to understand potential disadvantages such as centralization and counterparty risk.
Public account: Crypto Bear #BTC #BTTC #Defi代币 #ETH $BTTC

The past six months have seen a lot of speculation surrounding XRP due to the winning case with the SEC and XRP’s expected ETF approval. Many opinion leaders and crypto industry figures began posting predictions that XRP would reach $100 to $2,000.

I don’t know what kind of thinking they have, but 100 billion supply coins are worth 100 US dollars or 500 US dollars.

This is purely a pipe dream. This gives false hope to people with limited knowledge of the space, who start to think the space is a scam when they buy and hold for a year with no returns.

In order to get some attention and something interesting, they ruined the image of the industry.

It would make sense to say that #ICP） could go to $1,000 or that #INJ/USDT📈 could reach $500, because of what they do and their total supply, there is at least a logical possibility that these coins can reach that valuation.

The same thing applies to memecoins, their supply is in the trillions and people expect them to go up to $1.
#SEC #BTC #XRP/USDT

AI-generated game suspected of plagiarizing Pokémon! "Palu the Phantom" on Steam sold 2 million units, is Nintendo going to sue?

"Palworld" (Palworld), published and produced by Pocketpair, became a hit in the gaming world after it launched early access on January 19. Incredibly, within 24 hours of its release, the sales of this game exceeded 2 million units. On the Steam platform, the number of people online at the same time exceeded the 1.29 million mark, making it the "best-selling game" and " Double crown for "Most Played".

What is the content of "Phantom Parlu" game?
"Palworld" is a game based on cute style and open world survival gameplay. This game combines "Pokémon" style capture gameplay with survival and construction elements. Players in this world Interact with the elf "Palu" and enjoy various fun games such as fighting, building, and cultivating by squeezing and enslaving these cute creatures.

In the world of "Eidolon Parlu", each Parlu has unique abilities and characteristics, and can be transformed into different forms according to the needs of the player. Whether used as a weapon in the heat of battle, as a mount to navigate the vast game world, or even as a farming tool during construction and exploration, the pallu can be of great help.

Exciting like Pokémon, using generative AI to spark heated discussions
However, this super popular game is currently in the middle of a controversy over originality and plagiarism. Players on social media have raised doubts about "Pokémon Pallu", believing that its character design is significantly influenced by "Pokémon". "The influence of "Pokémon", some users even cited the similarities between the Paloo in "Pokémon Pallu" and questioned whether it was plagiarism.

Furthermore, the developer Pocketpair has also been dug up by netizens for its dark history of using generative AI tools to create content in the past. In particular, an artist named Zaytri pointed out on social platforms that Pocketpair had previously developed "AI: Art Imposter", a game with AI image generation as its core mechanism.

In addition, Pocketpair CEO Mizobe expressed his appreciation for the potential of AI image generators in content creation in historical tweets on social media, which further sparked controversy about the creative source of "Eidolon Parlu".

The design team is actually all “amateurs”
Not only that, this game has really caused a debate among Pokémon fans. Some fans called on everyone not to buy this game, saying, "If players buy this game... they are doing a disservice to Nintendo and GAME FREAK (Pokémon game developer). ), the content of the game is suspected of animal cruelty.

However, the above remarks soon aroused refutation. There are also Pokémon fans who believe that the interactivity of this game is basically a "dream come true". There is no doubt that the game content is fun. In response to the accusation of animal cruelty, some players also strongly questioned "Whether playing a gun game means you are suspected of murder", believing that this is just a game, and there is no need to over-explain or forcefully label it.

But, you know what? This game was not produced by a professional game team. One of the team members even used to work in a convenience store. He was invited to work by the president simply because he was a senior military fan. President Takuro Mizobe looked back on the past development process and admitted that the Pocketpair team had experienced many unnecessary failures. Compared with industry experts, they lack professional knowledge, and many seemingly basic things are completely new challenges for them. They are a group of "laymen" from different fields, but because of this freshness and spirit of exploration, they developed the game "Phantom Beast Parlu", which also made the outside world's perception even more confusing.
#BTC #ETH/USDT #AI代币 $BTC $ETH $AI

ETH fell below 2200, the undefeated whale liquidated 19,000 Ethereum, and lost more than 3 million US dollars

The cryptocurrency market has continued to fall after a brief surge in the Bitcoin Spot ETF. The expectation that the Ethereum spot ETF was expected to be adopted this year caused the price of ETH to reach a maximum of $2,717 on the 12th of this month, but it has fallen by nearly 20% in less than two weeks.

The Ethereum whale, which has been undefeated since November, claims a loss of US$2.02 million
The continued decline of Ethereum has also caused heavy losses to bullish investors.

According to monitoring by a Twitter user yesterday (23rd), the ETH whale, who has a 100% winning rate since November last year, has been staking ETH>Lending the stablecoin DAI on MakerDAO>Buying since December 8, 2023 By depositing ETH, 20,841 Ethereums were accumulated, with an average cost of US$2,380 and a value of approximately US$50.54 million.

However, as the price of ETH fell, the whale faced the risk of liquidation on MakerDAO, forcing him to sell 12,715 ETH (about 28.25 million U.S. dollars) at around 6:30 yesterday evening to repay the loan, claiming a loss of 2.02 million U.S. dollars! The 100% winning rate was broken.

It is understood that the whale still holds 7,001 ETH. Although its asset health indicators on Maker DAO have rebounded, if ETH continues to fall or remains low and fluctuates, the whale's losses may continue to expand.
#BTC #ETH/USDT $BTC $ETH

God predicts BTC to plummet! Bitcoin villain Peter Schiff: Spot ETFs are falling into a bear market and will end badly!

Peter Schiff, a gold bull and CEO of Euro Pacific Capital, warned before the approval of the first batch of Bitcoin spot ETFs in the United States that the approval of spot ETFs may lead to a collapse in currency prices because institutional investors will not have huge demand. He It is believed that the launch of Bitcoin spot ETF will prove to be a meaningless trivial matter and insignificant in history.

As a result, after the spot ETF was listed, Bitcoin continued to fall as Peter Schiff expected, which also made him confidently tweet on the 23rd:
The same Bitcoin pundits who mocked me and others for saying that the new Bitcoin ETF listing would be a "buy the rumor, sell the news" event are now denying the significance of the drop, claiming it was just a classic "buy the rumor," to be expected. "Sell News" event.

Peter Schiff said that the definition of a bear market is a drop of more than 20% from the highest point. Now all Bitcoin spot ETFs are in a bear market. The biggest loser is FBTC (Fidelity Wise Origin Bitcoin Fund), which fell 32%. The trading code of VanEck Bitcoin Trust ETF is HODL. Should be renamed GTFO (Get The F* Out):

The Proshares Bitcoin Strategy ETF (BITO), which tracks Bitcoin futures, opened at $40.88 when it was launched in October 2021. It has now fallen to $19, down more than 50% in more than 2 years. I think those who buy Anyone who invests in 11 Bitcoin spot ETFs will experience worse results.

Refers to new ETFs creating no additional demand
Peter Schiff believes that the new Bitcoin spot ETF does not create additional demand, but only changes demand. Investors may have previously purchased Bitcoin, Bitcoin-related stocks (such as $MSTR or $GBTC), and now they are simply switching to buying new ones. It’s just a Bitcoin spot ETF.

According to Peter Schiff, one of the biggest losers after the emergence of Bitcoin spot ETFs is Coinbase. Although Coinbase has been selected as a custody service provider by many issuers, speculators who once traded Bitcoin through the Coinbase platform are now turning to Trading Spot ETFs Many investors who purchased Coinbase stock as alternative exposure to Bitcoin are now also switching to buying spot ETFs.

JPMorgan Chase downgraded Coinbase stock to underweight from neutral on Monday, and lowered the target price to $80, which is 124.0% lower than the current share price.US$19 fell by more than 35% on the grounds that the market's optimism about spot ETFs may reverse, leading to a drop in currency prices and a reduction in trading volume, which will in turn affect Coinbase.

Peter Schiff has previously warned that Grayscale’s GBTC, micro-strategy and other cryptocurrency-related stocks are not in good shape. Investors will sell off after the ETF is approved. These targets will face the risk of huge book profit taking, and may even float. The profit is converted into a realized loss.

#ETFbitcoin #BTC #ETH/USDT $BTC $ETH #PeterSchiff

ACE President Wang Chenyuan’s home was found with 50 million in cash and nearly 200 million in cryptocurrency! McLaren 720S supercar seized again

Today, Wang Chenhuan, the current president and person in charge of ACE Exchange, was exposed as suspected of garbage coin fraud and was urgently arrested by the police. Yesterday (23), the prosecutors deployed multiple forces and found more than 49 million yuan in cash and group members at Wang’s home. 17 million yuan in cash and various cold wallets were found at his residence, containing a total of nearly 190 million yuan in cryptocurrency. A McLaren 720S supercar worth NT$18 million was also seized from his girlfriend's home.

A recent investigation found that there were abnormal financial flows between ACE Exchange and Wang Chenyuan’s personal account, which were suspected of money laundering. Yesterday (23), through the New Taipei City Criminal Investigation Bureau, the Taipei City Investigation Division of the Bureau of Investigation, and the Yilan Jiaoxi and Suao branches, multiple teams were dispatched to search 10 locations in Taipei, New Taipei, and Yilan where Wang suspected of hiding criminal proceeds, and successfully arrested Wang Chenhuan, Five people including Li Linda, ACE exchange employees Gao Weilun, Lin Shufen, and Xie Shiying, who assisted in putting the junk coins on the shelves, were arrested and brought to justice.

During the interrogation, Wang Chenyuan denied being involved in the case, saying that the suspicious huge amount of money was borrowed from a friend. However, he was detained by the prosecutor because he could not explain the source. As part of Wang Chenhuan's case, a total of about 66 million yuan in cash, nearly 200 million yuan in cryptocurrency, and a McLaren 720S sports car worth 18 million yuan were seized.

Public account: Crypto Bear #BTC #ACE #ETH/USDT $ACE $BTC $ETH

Ripple: El Salvadoran Bitcoin Advisor Says XRP Will Drop 98% to $0.01

Ripple’s XRP token has faced a major correction over the past few weeks. The asset is down 2.6% on the daily chart and 8.4% on the weekly chart, putting it down more than 14% since December 2023. Despite this, XRP has remained in the green since January 2023, having gained over 28% in the previous year.

Although XRP is one of the most popular cryptocurrencies on the market, some analysts are pessimistic about the asset’s future growth. Ripple’s XRP is a “centralized garbage” coin, according to Max Keizer, Salvadoran President Nayib Bukele’s Bitcoin (BTC) advisor. Keiser predicts that the price of XRP will reach $0.01. If the asset fell to $0.01, it would be down approximately 98% from current levels.

Will Ripple’s XRP drop to $0.01?

Ripple’s XRP is one of the most popular cryptocurrencies on the market. Additionally, it is one of the most commonly used currencies for cross-border remittances. However, many analysts disagree with Keizer. According to Changelly, the price of XRP may cross the $1 mark by 2025. Furthermore, the platform expects the coin to surpass its all-time high of $3.40 in 2028.

Additionally, some events may push the price of XRP to new highs sooner than expected. First, Ripple is in a legal battle with the U.S. SEC (Securities and Exchange Commission), which has gone to high court. If the high court’s ruling is similar to the district court’s ruling, XRP adoption and price could surge. Last year, a U.S. District Court ruled that Ripple did not violate securities laws by selling XRP to retail customers, contrary to the SEC’s claims.

In addition, the fintech company has also entered into many partnerships with global institutions, which can further help protect the price of XRP from falling too far. Additionally, this prevents the likes of El Salvadoran Bitcoin Consultants from further claiming to be a “junkcoin.” #XRP/USDT #BTC #ETH/USDT $XRP $BTC $ETH

Shiba Inu community burns 100 million tokens amid price drop

The Shiba Inu (SHIB) community has been actively participating in token burns as a strategic measure to control the supply of its tokens. In a recent development, the SHIB Dream NFT collection decided to join forces to burn 100 million SHIB tokens. This action is part of a wider community initiative to address the current price decline and restore confidence in the Shiba Inu network.

burn initiative
Lucie, a marketing specialist at the Shiba Inu Network, expressed her gratitude to the community for their commitment to the token burn. The process involves sending coins to inactive wallets, effectively removing them from circulation. In this case, the SHIB Dream NFT collection decided to burn 100 million tokens to help the ongoing community effort.

Shiba Inu burning rate
The SHIB network experienced an impressive 451% surge in total burn rate over the past 24 hours. According to data from Shibburn, 146,261,497 SHIB tokens were burned during this period. The significant increase in burning activity highlights the community’s dedication to actively managing token circulation.

Cumulative token burns on the SHIB network have reached an impressive 410,708,001,934,250 points, resulting in a reduction in the overall token supply. Many see this intentional reduction in emissions as a strategic move to combat potential inflationary pressures and maintain a healthy ecosystem.

price analysis
SHIB currently finds initial support near the $0.000027 mark amid intensifying burning activity. Traders and investors are keeping a close eye on this level, with the next support area expected to be near $0.000022. This level may attract new buyers and serve as a new accumulation point.

On the resistance front, SHIB encountered a major hurdle at $0.000035. A successful break above this resistance could open the door to a retest of higher levels, possibly around the $0.000040 range. Price dynamics indicate a delicate balance between support and resistance levels, with market participants keeping a close eye on the situation.

The recent burn of 100 million SHIB tokens from the SHIB Dream NFT collection, coupled with the spike in the overall burn rate, highlights the active participation of the Shiba Inu community in managing the token supply. These urgent moves demonstrate a commitment to sustainability and long-term growth as the network grapples with pricing challenges.Traders and investors will be watching closely to see how these strategic moves impact SHIB's overall trajectory in the coming days and weeks.
#Shibarium #SHIB #BTC #ETH/USDT #NFT $SHIB $BTC

Shiba Inu: How high is SHIB expected to be on February 1?

Shiba Inu (SHIB) started the new year on a positive note, but its journey throughout the month has been filled with ups and downs for the widely known meme coin. The constant addition and elimination of zeros increases unpredictability and puts SHIB investors on edge. Despite market volatility, Changelly's forecast suggests Shiba Inu is expected to end January on a positive note. However, uncertainty arises as the network predicts a massive 8% drop on February 1, with the memecoin expected to trade around $0.000008125.

Shiba Inu February 2024 Price Outlook
As the cryptocurrency community prepares for the upcoming month, experts in the field are preparing to share their predictions for the February 2024 Shiba Inu price. This month is expected to bring challenges and opportunities for SHIB as it continues to navigate the intricacies of the digital asset landscape.

According to industry analysts, Shiba Inu’s minimum transaction cost in February could reach $0.00000808. However, during the same period, the maximum value could reach $0.0000102. Average forecasts indicate that SHIB’s value is expected to hover around $0.00000914. This is the benchmark by which investors measure potential price movements.

Adapt to market fluctuations
The Shiba Inu price fluctuations observed throughout January have become a defining feature of the meme coin’s journey. From rapid zero elimination to sudden increases, SHIB exhibits its inherent unpredictability. As the network predicts an 8% drop on February 1, investors are encouraged to remain vigilant and consider implementing risk management strategies.

Changelly’s thoughts on SHIB
While Changelly expects SHIB to drop on February 1, the uncertainty lies in whether the meme coin will maintain its current trading range or embark on a new trajectory. Changelly’s insights offer a glimpse into the potential challenges and opportunities Shiba Inu owners may face as they head into the next month.

Shiba Inu’s adventure into February 2024 is both exciting and uncertain. With the network predicting an 8% drop on February 1, investors are advised to stay well-informed and adapt to the dynamic nature of the cryptocurrency market. Price forecast for February starts from 0.Ranges from $00000808 to $0.0000102, with an average of $0.00000914, establishing a framework for SHIB to navigate the next month amid potential volatility.
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