THE prices of Shiba Inu, Metaverse and Ethereum have been revealed, as Matt Damon stars in Crypto.com ad.
As of Friday, Shibu Inu is trading $0.00003380, Metaverse for $0.16 and Ethereum for $3,734.21.
THE new “Let’s Go Brandon” meme coin experienced a price spike after its launch was announced on Thursday.
It comes as Bitcoin braces itself for a $6million earthquake after Ethereum, BNB, Solana, Cardano, and XRP were hit with a crypto price crash this week.
NASCAR driver Brandon Brown revealed his partnership with LGB coin after he became the inspiration behind the anti-Joe Biden meme earlier this year.
The partnership means he will ride a Chevrolet Camaro decked out in red, white, and blue and plastered with the meme coin’s name for the upcoming season.
“Having the financial support of LGBcoin is incredible, especially at such a pivotal time in our team’s growth as we work to build to the next level of competition,” Brown said.
Over $200billion in value was wiped from the combined crypto market this week as prices dropped.
The Bitcoin price has fallen six percent since Monday.
Read our cryptocurrency live blog for the latest news and updates…
How to check for blockchain scams
Cryptocurrencies operate on blockchain networks.
Scammers often claim their blockchain is “in development” or “about to be released,” but all legitimate cryptos will have an accompanying website to verify the currency.
Users can type the name of the crypto into any search engine with the phrase “blockchain explorer” or “blockchain scan” to find the connected blockchain, if it even exists.
Fake websites and crypto
One fairly widespread scamming technique involves websites that appear to be a new cryptocurrency mining operation or investment opportunity.
The sites encourage investors to wire in money, sometimes offering investment “tiers” and promising greater returns.
But when users attempt to withdraw their cash, they are unable to and told to input even more cryptocurrency.
Bitcoin milestone, part two
Bitcoin was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto.
Data from Blockchain.com on Monday showed 18.9 million of the 20,999,999,9769 possible Bitcoins had been mined.
It’s a milestone that took 12 years to reach.
Experts believe the last Bitcoin will be mined in February 2140.
One Bitcoin is currently worth around $47,000.
Value could shoot up as the coins become more scarce, experts said.
Less than 10 percent of Bitcoin left to mine
There is less than 10 percent of Bitcoin left to mine as the cryptocurrency passed a major milestone in December.
Data from Blockchain.com showed 18.9million out of a possible 21million of the virtual coins have been mined.
Bitcoin is the world’s first entirely virtual currency and new currency is created by mining, a complex online process that uses computer code.
It involves using a computer to solve a mathematical problem with a 64-digit solution to create new coins.
For each problem solved, one block of Bitcoin is processed. The miner that is first to solve the problem is rewarded with a new Bitcoin.
These new coins are then stored virtually through an online database called the blockchain.
El Salvador adopts Bitcoin, continued
However, those who do not have access to technologies that can carry out Bitcoin are excluded from being required to accept it.
The US dollar and Bitcoin are now the country’s official currencies.
It’s the first time Bitcoin has been adopted as a legal tender in a sovereign nation.
El Salvador adopts Bitcoin
The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.
The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.
Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”
What is a blockchain?
A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit.
This ledger is the foundation of any cryptocurrency transaction.
The cryptocurrency allows people to trade currency or assets digitally outside of any government or bank.
Banks embrace crypto, continued
Executives at large banks are beginning to hop on the cryptocurrency train as some invest their time in learning about the new payment method.
Bank of America spokesman Mark Pipitone told the New York Times, “The bank sees potential in blockchain, and we’re currently a leading patent holder in the space with more than 160 patents. But we still haven’t found a use at scale to make the financial lives of customers and clients better.”
Banks embrace crypto
Banks are paying for slowly catching on to the future of cryptocurrency as they struggle to benefit and profit.
As cryptocurrency start-ups explode, they are starting to offer credit cards and loans while banks are left in the dust.
According to the New York Times, “Bank of America’s chief executive, Brian Moynihan, barred the giant company’s wealth managers from putting any client money into cryptocurrency-related investments.”
Play-to-earn gaming, part two
The new play-to-earn gaming model that rewards gamers with cryptocurrency for playing isn’t technically free.
Gamers could have to spend $1,000 or more in order to start earning in the Axie Infinity universe, according to Forbes.
The popular platform for play-to-earn gaming requires beginners to have three “Axies,” which are available for purchase on the game’s Marketplace Dashboard.
Participants can then earn cryptocurrency for selling potions, breeding rare Axies, and playing various games.
What is play-to-earn gaming?
A unique model called play-to-earn gaming is driving non-fungible token (NFT) and cryptocurrency growth, Forbes reported.
Axie Infinity is the most popular platform for play-to-earn gaming at the moment.
It allows users to build a collection of “Axies” that players can use across its universe of games.
The company then uses Blockchain to reward players for gaming, according to Forbes.
Any digital assets earned by participants can be sold on the platform or traded outside Axie Infinity’s universe.
Risks of Robinhood, part two
For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.
Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.
In fact, Robinhood faced some outrage earlier this year when it restricted trading on meme stocks including GameStop and AMC.
Risks of Robinhood
When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.
If you’re choosing Robinhood so you can trade stocks and cryptocurrencies – then the game gets even riskier.
Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.
For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.
Man loses $1.6million, part three
The app demanded $1.5million from the victim and threatened to freeze his account if he didn’t pay.
“I go look on the FBI site and lo and behold, there’s this public alert about this type of scam,” he told the news outlet. “I’m 52, my entire life savings, gone in a matter of a month.”
The common scam, which involves meeting someone on a dating app, depositing money into a fake investment app (which is constantly changed, renamed or deleted) then losing it all, is called the “Pig Butchering Scam,” KMGH-TV detailed.
Man loses $1.6million, part two
The man said he successfully deposited funds into the account, including money from his retirement accounts.
He was reportedly able to withdraw cryptocurrency too, until he attempted to take out more.
A “customer service agent” with the app told him “you need to repay the loan before you can withdraw cash from your account,” KMGH-TV reported.
Man loses $1.6million in scam
A man says he lost his life savings in a scheme dubbed the “Pig Butchering Scam.”
The 52-year-old told Denver ABC affiliate KMGH-TV that he met a woman on a dating app who appeared to have similar interests to him.
The conversation turned to cryptocurrency, something he’d made about $70,000 on in a few years.
The man told the news outlet that the woman he fell for online convinced him to invest on a mobile and web app that seemed legitimate to the software engineer.
Crypto.com coin price prediction
The Crypto.com Coin cryptocurrency hit a record high on November 15, reaching $0.52 at its peak, according to CoinMarketCap.
In comparison, it was sitting at just $0.05966 on January 1 this year.
The Crypto.com token has increased in value thanks to a number of factors.
For example, it has secured several high-profile sponsorship deals in 2021 including the UFC, Formula One Racing, and Matt Damon’s Water.org.
From December, the Staples Center – home to the Lakers and Clippers – will also be called Crypto.com Arena.
Whether the Crypto.Com Coin continues to soar in value remains to be seen, but plenty of crypto fans have still made predictions.
For example, Wallet Investor expects the token to hit a value of $0.538 in one year and $0.8023 in five years.
Meanwhile, Digital Coin Price has set a 2021 forecast of $0.7036, a 2023 value of $0.9636 and it expects a 2028 price of $2.09.
Who founded Crypto.com?
Kris Marszlek has been the Chief Executive of Crypto.com since June 2016 and is based in Hong Kong.
Bobby Bao is a co-founder and managing director of Crypto.com, which was formerly known as Monaco.
Gary Or is another co-founder and is the head of technology at Foris – a universal money app, according to topionetwork.com.
The other co-founder is Rafael Melo, who, according to Topio Network, has 15 years’ experience in finance.
Crypto.com coin, continued
Crypto.com itself is one of the fastest-growing cryptocurrency businesses in the world.
Keegan Francis, crypto editor and expert of Finder, told The Sun the coin has many uses, but most notably is that it can be used to stake crypto on the mobile app in order to get the Crypto.com Visa debit card.
He added: “Staking higher amounts of CRO across the platforms rewards users with more features and rewards.
“Investors need to keep in mind that the token itself is tied directly to the success of the Crypto.com ecosystem.
“That being said, Crypto.com has taken the initiative to decentralize CRO by building it into their own decentralized blockchain called Crypto.org.
“This is a good step for them to take in order to ensure the longevity of their token.
“It creates less dependence on the company itself, and begins to build out an independent community of developers, and market participants.”
What is the Crypto.com coin?
The Crypto.com Coin is the native token of the Crypto.com and Crypto.Org ecosystems.
Also known as CRO, it launched at the end of 2018.
The Crypto.com chain was created to build a network of crypto projects and to develop merchants’ ability to accept crypto as a form of payment, according to its website.
Businesses can use Crypto.com pay checkout and/or invoice to allow customers to pay for goods and services with crypto using the wallet app.
The firms then receive their payments in CRO, stable coins, or in fiat currency, which is government-issued money like dollars or pounds.
Seven crypto ads banned, part two
The Advertising Standards Authority is looking to produce new guidance on cryptocurrency.
Monitoring crypto assets is a “red-alert priority” for the regulatory agency, BBC News reported.
The news outlet said companies with ads found to have broken the rules were:
- Coinburp: A Twitter page for the cryptocurrency trading platform
- eToro (UK): A paid ad for the stocks and cryptocurrency trading platform
- Payward: A digital poster for Kraken, an online cryptocurrency exchange
- Exmo Exchange: A YouTube video promoting the cryptocurrency exchange
- Luno Money: An in-app ad for the cryptocurrency exchange service Luno
- Coinbase Europe: A paid Facebook ad for the cryptocurrency exchange platform
- Papa John’s GB: A promotion on the Papa John’s pizza restaurant chain’s website and in a Twitter post
UK regulator bans seven crypto ads
The United Kingdom’s Advertising Standards Authority (ASA) banned seven cryptocurrency advertisements following concerns.
BBC News reported one banned ad included a promotion by a pizza chain while a second involved Facebook ads for a big cryptocurrency exchange.
All seven ads were “banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment,” the news organization reported.
NFT sold far under intended price
The owner of a Bored Ape non-fungible token (NFT) accidentally sold the virtual art for $3,000 instead of $300,000.
The digital art was initially purchased by an automated account that instantly put it back up for sale for nearly $250,000.
The seller told CNet that he meant to list the price at 75 Ethereum (ETH), the preferred cryptocurrency for making NFT transactions.
After making many online trades that day, he said he suffered from a “lapse of concentration” which caused him to type in “0.75 ETH.”
“I instantly saw the error as my finger clicked the mouse but… it was instantly sniped before I could click ‘Cancel’ – and just like that, $250,000 was gone,” he said.
Major meme coins, part two
Another dog meme that has picked up traction this year has been Saitama inu, whose logo appears to feature a wolf surrounding a human face.
“Tokens like Shiba Inu, Dogecoin, and newest gainer Saitama are all a part of the evolution of digital finance in their own unique way,” Chris Kline, chief operating officer and co-founder of Bitcoin IRA, recently told The Sun.
Separately, Tiger King is a meme coin based on the popular Netflix series that picked up strong momentum.
The major meme coins
The surge of the meme coins this year all started with Dogecoin.
That was then followed by Shiba Inu, which both feature the same dog breed in their logos.
The image became a popular internet meme called doge, and it features the dog surrounded by text in the comic sans font with words like “much wow.”
Both Shiba and Dogecoin have been popular dog meme coins this year.
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