Aurelia Butler

Investors seem concerned at the emergence of a new COVID-19 variant and hawkish comments from the Federal Reserve. Meanwhile, veteran investment icon Charlie Munger added to the fire by comparing the price action in the crypto market to the dot-com era that ended with the bubble popping.Continue Reading on Coin Telegraph More

A week packed with positive advancements in the DeFi space including nine-figure fund raises, successful product launches and soaring token prices was somewhat tarnished by the news of two severe security exploits. Read on to get the full scope of developments across the week.Continue Reading on Coin Telegraph More

As reported by Cointelegraph on Thursday, the attack targeted the protocol on the Ethereum network, reaping an unconfirmed $120 million in assets.Continue Reading on Coin Telegraph More

Dogecoin was the original meme coin, but since its inception, others have emerged, including SHIB and Dogecash. Shiba Inu leads the rivals, positioning itself as the DOGE killer. Shiba Inu and Dogecoin, both inspired by Shiba Inu’s puppy, started as a joke. The meme coins grew to rank among the top ten coins rubbing shoulders with the likes of Solana, Cardano, and Polkadot. Technical DifferencesBoth Dogecoin and Shiba Inu are based on memes. But the canine coins are from a different breed. Dogecoin is technically a coin, and its network is forked from Litecoin. It has its own dedicated blockchain where the native coin DOGE transactions are logged on, like Bitcoin and Ethereum. Technically this means that Dogecoin can be mined and uses a proof of work mechanism. However, there is a plan to upgrade to proof of stake. On the other hand, Shiba Inu does not have a working mechanism meaning it can’t be mined. However, Shiba Inu has a ShibaSwap that allows users to stake their holding for rewards. Unlike Doge, which runs on its blockchain, Shiba is an ERC-20 token based on the Ethereum network. According to the Shiba Inu paper(whitepaper), Royishi, the anonymous Shiba Inu creator, states they chose Ethereum because it is well established and secure.Demand and supplyDogecoin and Shiba Inu started at different numbers. Dogecoin’s total supply at creation was 132 billion, while Shiba Inu started at a total of one quadrillion coins. The coins’ total supply is heading in the opposite direction. While the total supply of SHIB is shrinking, that of a doge is increasing. Dogecoin allows miners to mint new coins hence increasing the total supply. But the mining mechanism is designed to slow down the number of coins mined every year. However, the total supply will increase in the long run.Shiba Inu recently gifted Ethereum Vitalik Buterin 500 trillion SHIB, half of the total supply. However, Vitalik burned 90% of the SHIB gifted to him, decreasing the supply and increasing the demand. Price Growth and PredictionCurrently, DOGE is trading at $0.215 and ranks 10th on the list of the largest cryptocurrencies in the world. At creation, a DOGE coin was worth $0.0003 and experienced a flat growth until the start of 2021, when it reached $0.01. It grew seismically, reaching an all-time high of $0.74 in May, representing a 7000% growth. Endorsement by Elon Musk, Tesla (NASDAQ:TSLA) and SpaceX CEO, has played a vital role in doge price proliferation. Elon is fond of making jokes about the crypto, calling himself the dogefather and Lorde Edge. In fact, Doge is one of the three cryptocurrencies the tech billionaire has invested in. Also, Mark Cuban endorsement and Reddit dogecoin followers have been instrumental in the growth of dogecoin value. Shiba Inu is trading at $0.0000044 and ranks 12th in CoinMarketCap list of the largest cryptos in the world. At inception in August 2020, a coin of SHIB was worth $0.0000000001, rising million folds to reach an all-time high of $0.000086. The price of Shiba shot up significantly soon after listing on Binance, and it has minted new dollar billionaires. For instance, an investor who purchased $8000 last year is worth over $5 billion. Experts predict that Shiba Inu could on average hover around the 0.00006 USD mark in 2022, while Doge is forecasted to be in the 0.287 USD territory most of the 2022.Association with Ethereum’s CEO Vitalik Buterin has also contributed to the growth of Shiba Inu. Moreover, SHIB has delved into the lucrative NFT segment. NFTs are driving the price of cryptocurrencies higher and higher. The price of Shib also shot up 300% after Elon Musk announced he was planning to get a Shiba Inu puppy.Which Puppy Will Win?Nearly a month ago, SHIB was at the top of the dog-eat-dog competition. On 28th October, Shiba Inu superseded dogecoin, officially becoming the dogecoin killer. It rose to 8th position after the SHIB community rallied behind the crypto resulting in capital inflow which boosted its value. About 450 000 Shiba enthusiasts signed a petition to have Shib listed on the Robinhood (NASDAQ:HOOD) crypto exchange platform. But the rabid fight between the canine tokens was far from over.Dogecoin has triumphed again, retaining its 10th position while Shiba Inu has fallen to 11th position. USD Coin now sits in 8th place. The market capitalization of DOGE is $28 billion, while of SHIB market cap is $25 billion.A tweet from Elon Musk helped Dogecoin go back on top of Shiba Inu. According to the tweet, Elon plans to start a university with fees paid in dogecoin. He added that anyone with a dog would get a discount. The crypto experienced a massive sell-off dropping from a market cap of $37.4 billion to $35.7 billion in less than one hour. Shiba Inu seems to have a well-laid vision of eventually triumphing its contest with dogecoin. Top of the plans is to develop a stable coin known as a Shi and create a two-layered blockchain solution for Ethereum called shibarium. Layer one records monetary settlements layer two offers a solution for micropayment, enabling one to handle large numbers of transactions at high speeds and low gas fees. It will also organize an annual conference of Shiba crypto investors known as Shibicon. The goal of SHIB is to be the immutable exchange of value in the globe. On The FlipsideWhy You Should Care?The two meme coins have experienced seismic growth over the past year. With support from billionaire investors like Elon Musk and Mark Cuban and a loyal following of a community of dog lovers, SHIB and DOGE could be poised for more growth. Adding utilities like payments of fees for Elon’s University could significantly boost the value of the canine tokens. Therefore, you could reap massive profits if the same growth trajectory continues.Final WordsThe current play between Shiba and DOGE is fascinating to watch. No one is sure which will eventually come on top. Both Cryptocurrencies are highly influenced by a community of followers, influencers, and internet memes. The price increase of these two meme coins is driven to a large extent by retail investors’ sentiments, like was the case with GameStop (NYSE:GME) stocks. Its growth is based on community as opposed to utility. As the competition gears up, it will open new opportunities for investors.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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During a DailyCoin exclusive, the three leading members of the Crypto Global Tribe that call themselves Kaiporah, Mowgly, and Numalunah, shared the process, ambitions, and unique features of their promising tribal NFTs.Objective: Reviving Coral ReefsCorals are a fundamental part of the ocean. They only cover 1% of the ocean but host 25% of life; they’re extremely important to the ecosystem. Corals are also beautiful, they’re a great tool for expression, and inspire creativity – they come in different shapes and colors and are truly fascinating creatures by their exterior and functions.Crypto Coral NFTs will be minted on the Solana blockchain, which is proof of stake and consumes significantly less energy than other blockchains. According to the statistics, “one Solana transaction uses as little energy as two Google (NASDAQ:GOOGL) searches,” and is 98% more efficient in minting NFTs than Ethereum.Partnerships with Coral Gardeners and PreserversThe Crypto Coral Tribe team found a way to plant a few thousand corals with partners in Malaga (Spain), Bali, and the Turks and Caicos in the Bahamas. The ideas from partners are not only limited to planting corals.“One of our partners in Turks and Caicos researches stony tissue coral disease. The disease impacts corals in that part of the load killing off 40% of some species. It’s not just about planting corals, some of the funds that we generate through this project will go into approaching marine restoration from other angles too,”
the team said.The initiative made a pledge to plant 3,000 corals across three different continents. The conditions, though, are a little bit different in each place. For example, in Malaga, it’s quite a difficult process to plant many corals because the reef is very deep. Divers have to rescue broken pieces of coral, bring them up, put them in a nursery for a short period of time, and then take them back out. In Bali, on the other hand, it’s just a process of taking a small piece of a mother coral and planting it straight away. One of the leading team members explained,“The biggest value I see in this entity collection is that once people buy this NFT, they become part of the community that directs environmental and social impact into a lot of different projects that we research and then propose to the community. 50% of the revenue will go into this fund that the community is managing, and with the project and proposals curate the community vote.We call ourselves a Crypto Coral Tribe because together we can fight and make an impact around the world, and that doesn’t necessarily have to be with corals, it can be anything, could be, art projects, it could be sustainability, tech hackathons, or attract developers to work on one exciting tech that could help the environment”The Importance of Community for the NFT ProjectAccording to the Crypto Coral Tribe, it’s not just doing good for the environment, but it’s also about being connected to nature.“We are working with a British musician, who made a song about our story, about the mythology of the crypto corals. There’s a sonic journey that you can follow, it has aquatic sounds and creates the mood. We love working on the project, and so far, this process has been fun, working with musicians, working with the artists, that’s a massive part of us, we don’t see ourselves as purely environmental people, the creative element is also crucial.”
One of the values of the project is the social experiment with DAO where you need to buy an NFT to enter the DAO and use all the funds to invest in more NFTs. What would happen if we got a million dollars equivalent in funds in the treasury of the community but the sole purpose wasn’t just a financial motivation but more of an ESG incentive of environmental, social, and governance impact? What would people invest in when financial return is not their main priority, when a social impact, cultural change or environmental protection is their agenda, to see what people connect with the most and what drives the most change with that?“What we aspire to is when people buy these NFTs, we’re opening them up into this universe of creative possibilities, all based around ethical, sustainable philosophies”The Exceptional Art FeatureThe NFTs are coral creatures with a tribal element. The team explained further the inspiration behind the NFTs:“We were inspired by the idea that hunter gatherers and tribal cultures lived in a very symbiotic and respectful way with the environment; we wanted to create the feeling of a tribe with the other side of it being future and crypto. Some of the characters have cool bomber jackets, others have technological elements. The idea is to connect tribe and nature with a futuristic aesthetic.”
The Crypto Coral Tribe’s artist specializes in futuristic indigenous tribes and different ways in which our future could develop in synergy with nature. They are very specialized in the overall idea of the NFT concept and the art.Crypto Coral Tribe NFTs: Price and Launch DateThe current price of a Coral NFT is 1 SOL, though it might change depending on the market.“We chose the price because it gave us enough of a budget to plant a lot of corals, enough to have a meaningful impact fund with over a million dollars potential revenue, so people could really feel like this is going to make some impact and changes,”
the team said.The additional budget is to develop other projects such as the tribe hang out online, to create an interactive experience, where people online can log into a beautiful portal and move through the mythology and see the fund situation and see the different projects.“When you buy something that is more expensive, you tend to care more about it, and you become more committed to it. At the end of the day, that’s what we want. We want people to buy NFTs and also commit, not to just flip them and sell them,”
the team shared.The planned launch date is mid to late December, with the potential for change. There will be a list of between 500 to 1,000 spots where people will be able to enter and they’ll have early access to minting with the guarantee that they will get an NFT. The team will be releasing all the relevant information in the upcoming weeks.On The FlipsideEMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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Trader Lukas Moore shares his piece on why Cardano (ADA) will be parabolic in 2022. He begins by explaining Cardano’s journey so far and goes on to explain why now is a great opportunity to invest in the asset.To start off, he says that Cardano’s ecosystem has massive potential for 2022. Thus, he encourages traders to prepare themselves for an advantageous future. In fact, he highlights many opportunities that will present itself in the Cardano ecosystem for the coming year.The article goes on to highlight the many highs of 2021. Indeed, there have been many new developments this year. To name a few, Solana’s layer 2 project, the rise of meme coins, and the emergence of metaverse projects.However, one of the most important developments is the fact that Cardano released smart contracts. With this, users on the ecosystem could finally do more on the platform. Still, the network’s momentum is going much slower than investors expected.This is why some projects and investors are switching track to Solana and other ecosystems. In contrast, true Cardano believers are staying put and eagerly awaiting for Cardano to explode. This is because Cardano has taken a more academic approach.In order to not rush the project and deal with missteps, the project is slowly and steadily working its way up to meeting set milestones. So far, the team has delivered on every milestone it set and hasn’t faltered a single time.Hence, while the build up to the final stage is slow, it is still on time, strong, and secure. Not to mention, the community is also steadily growing and more and more projects are making their way onto the platform.Since the Alonzo mainnet launch, smart contracts can now be deployed on Cardano. Therefore, those with technical development skills are starting to build projects on Cardano. With more mainnet upgrades, this process will become even simpler, and more users will deploy their projects as well. Thereby, this analyst in particular is hedging his bets. He concludes the article with his plan to take risks on small-cap projects on Cardano. He believes that there are many short-term gains to be made and so Cardano will become a bull market in 2022.Continue reading on CoinQuora More