Recent data reveals a 15% decrease in significant transactions involving Shiba Inu, a development that could considerably impact the cryptocurrency’s market dynamics.
This decline is typically indicative of diminished activity by whales, the large-scale investors whose substantial trades can significantly influence market directions.
Such a trend might suggest waning confidence among these investors or a pivot towards smaller, more discreet transactions.
In spite of this downturn in large transactions, there are faint signs of bullish sentiment.
A marginal increase of 0.32% in the creation of new addresses on the SHIB network hints at a growing interest or the arrival of new participants in the market.
This is generally viewed as a positive indicator, although the minimal rise indicates a lack of strong new momentum.
Moreover, there’s a slight 0.04% uptick in the concentration of SHIB holdings among top addresses, suggesting that some major holders may be quietly increasing their stakes, or that a smaller number of addresses are accumulating more SHIB.
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Currently, SHIB is experiencing a consolidation within a tightening price range, suggesting a potential spike in volatility soon.
The decline in transactions by major investors could lessen the impact of significant sell-offs or purchases, possibly leading to a temporary stabilization of prices.
Nevertheless, the ongoing consolidation phase points to a likely breakout, the direction of which will probably be influenced by broader market trends rather than SHIB-specific factors.
The landscape of Shiba Inu’s market is undergoing a complex transformation, highlighted by the reduction in large transactions coupled with modest bullish indicators.
While the decrease in significant transactions might reflect a lack of confidence among larger investors, the incremental growth in new addresses and the slight increase in holdings by top addresses indicate a burgeoning interest.
As SHIB navigates through a narrowing price range, an impending volatility spike seems imminent.
The future trajectory of Shiba Inu will largely hinge on overall market movements, making it a cryptocurrency worth monitoring.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
In a confidential report by the United Nations (UN), it was revealed that North Korean entities, particularly the Lazarus Group, utilized the cryptocurrency privacy tool Tornado Cash to launder approximately $150 million in stolen cryptocurrency assets.
The report, which was accessed by Reuters, highlights a significant breach involving dormant crypto assets linked to the group, traced back to North Korea in March 2023.
The illicit activity commenced when North Korean hackers infiltrated HTX, a cryptocurrency exchange owned by Tron founder Justin Sun, extracting $147.5 million in cryptocurrencies.
This amount was covertly transferred into North Korea over the course of a year using Tornado Cash, a service that anonymizes crypto transactions making them untraceable and is popular among cybercriminals.
The Reuters coverage also pointed out ongoing investigations by the UN into 97 cyberattacks orchestrated by North Korea between 2017 and 2024, which altogether siphoned around $3.6 billion in cryptocurrencies.
In 2024 alone, these investigations have so far included 11 cryptocurrency thefts totaling $54.7 million, allegedly involving North Korean IT workers employed by various small crypto-related companies.
The United States had previously imposed sanctions on Tornado Cash in 2022, accusing it of facilitating North Korea in bypassing international sanctions on cross-border remittances.
Despite these allegations, the founders of Tornado Cash have consistently denied any wrongdoing over the past two years.
The situation escalated when Alexey Pertsev, the developer behind Tornado Cash, was convicted of money laundering charges on May 14, having allegedly laundered $1.2 billion in illicit funds through the platform.
Pertsev was sentenced to five years and four months in prison, with a 14-day period granted to his attorneys for filing an appeal.
This conviction has raised significant concerns about the broader implications for developers of open-source software.
Moreover, on the same day, blockchain analytics firm PeckShield reported that approximately $53 million worth of Ether, stolen from Poloniex during a $100 million hack, was transferred to Tornado Cash.
This incident underscores the prevalent use of Tornado Cash among global cybercriminals.
According to PeckShield, over 17,800 ETH was consolidated from six different wallets into one Tornado Cash address, demonstrating the sophisticated methods employed by hackers to obscure the origins of stolen funds.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Baby Doge on Sol (DOGESOL) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Baby Doge on Sol (DOGESOL), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because DOGESOL has announced its first centralized exchange listing, which will be on BitMart.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Baby Doge on Sol can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Baby Doge on Sol could become the next viral memecoin.
Baby Doge on Sol launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Baby Doge on Sol on Raydium or Jupiter ahead of the BitMart listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Baby Doge on Sol by entering its contract address – G5GEMyeea1HqS2KnpazPiMuTy3sqS1UdQegsbNLGpF7U – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DOGESOL.
CoinGate, a leading cryptocurrency payment gateway, has recently expanded its offerings by integrating SHIB (Shiba Inu coin) for use on both the Polygon and Binance Smart Chain networks.
This strategic move significantly broadens the utility of SHIB, allowing holders to transact with major brands such as Airbnb and Nike.
This development marks a pivotal step in SHIB’s growing presence in the market, highlighting its transition from merely a speculative asset to a viable medium for everyday transactions.
By incorporating SHIB on these platforms, CoinGate enhances the coin’s accessibility and usability.
The selection of Polygon and Binance Smart Chain for this integration is particularly noteworthy.
Polygon is recognized for its low transaction fees, which could reduce costs and improve the overall user experience for SHIB transactions.
On the other hand, the Binance Smart Chain offers a strong infrastructure and a dynamic ecosystem, further increasing the accessibility of SHIB and its appeal to a broad audience.
The decision to support SHIB on these networks underscores the increasing acceptance of cryptocurrencies in the broader financial landscape.
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It reflects a significant shift towards recognizing digital currencies like SHIB as more than just investment vehicles, but also as practical tools for purchasing goods and services in everyday life.
This move by CoinGate could potentially open up new avenues for SHIB, enhancing its practical utility and solidifying its position in the market.
In conclusion, CoinGate’s integration of SHIB support on Polygon and Binance Smart Chain represents a major advancement in the cryptocurrency sector.
It not only strengthens SHIB’s standing in the market but also boosts its functionality, making it more attractive to users and merchants alike.
With the ability to access services from prominent brands, SHIB holders are well-positioned to experience the benefits of this integration in their daily transactions, promising a bright future for SHIB as it continues to integrate into the fabric of everyday spending.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
On May 15, Bitcoin soared past $64,000, coinciding with the announcement of lower-than-expected core inflation rates in the United States.
This significant increase in Bitcoin’s value occurred after the release of the Consumer Price Index (CPI) data, which reflected a positive outlook for risk assets like cryptocurrencies.
As a result, Bitcoin reached a local high of $64,700, according to data from Cointelegraph Markets Pro and TradingView.
The CPI report for April indicated a month-on-month increase of 0.3%, which was 0.1% below the anticipated figures.
This data suggested a decrease in core inflation to its lowest point since 2021, hinting at potential cuts in interest rates.
However, reactions to these statistics were mixed.
The Kobeissi Letter expressed caution, noting that while CPI inflation had decreased for the first time in three months, the Producer Price Index (PPI) had risen for the third consecutive month.
They highlighted that “The Fed will remain in wait and see mode,” acknowledging the complexities of the economic indicators.
Federal Reserve Chair Jerome Powell maintained a cautiously optimistic tone, despite mixed signals from recent economic reports.
“I wouldn’t call it hot, I’d call it mixed,” Powell remarked about the PPI data in a statement reported by Reuters.
Despite the positive CPI data, market expectations for immediate rate cuts remained low.
According to CME Group’s FedWatch Tool, the likelihood of a rate cut in June was just 3.1%, with a slightly higher expectation of 28.3% for July.
The cryptocurrency market reacted swiftly to these economic developments.
CoinGlass reported significant activity in Bitcoin exchanges, where prices surged, breaking past liquidity barriers and forming a new resistance level around $65,000.
This dynamic shift indicated a strong buy-in from market participants.
Skew, a prominent trader, commented on the situation, emphasizing the need for continued buying pressure to maintain Bitcoin’s momentum.
He suggested that for Bitcoin to lead the market confidently, it would need to surpass the $65,000 mark to restore market confidence.
In summary, Bitcoin’s price surge on May 15 was closely tied to the latest U.S. economic data, demonstrating the cryptocurrency’s sensitivity to global economic indicators and market sentiments.
The mixed economic data has left the market in a state of cautious anticipation regarding future Federal Reserve actions.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Utility tokens are not as good as cryptocurrencies; we will start by saying that. And we are also not saying they are terrible – they definitely have their perks. What we mean is that cryptocurrencies are the real deal. That is where all the real-life applications are.
But do you know the other differences between the two? Read on to find out.
What Are Utility Tokens?
Utility tokens are digital tokens created to generate income for the company and can be used to buy goods or services within a particular network or platform. There are hundreds of utility tokens coming from hundreds of cryptocurrency companies.
Unlike cryptocurrencies – which are general-purpose monies – utility tokens confer ownership rights over a product or service but are often not intended as investments. For example, a utility token might provide access to a cloud storage system or a gaming experience based on blockchains acting as coupons or tickets within specific ecosystems. These tokens may be vital to decentralised applications (dApps) because they facilitate interactions and transactions within the blockchain framework supporting them.
What Are Cryptocurrencies?
Cryptocurrencies are digital currencies that utilise cryptography for security purposes and run on decentralised blockchain systems. As of March 2024, there were 13,217 different cryptocurrencies in circulation and over 420 million worldwide crypto users.
In essence, cryptocurrencies like Bitcoin and Ethereum were invented as alternatives to traditional fiat currencies and seek to function as a medium of exchange and value stores. They work just like money does. Holders can buy goods or services using them or hold them, expecting their values to increase with time since they are investments. And, beyond their economic application, they provide philosophical benefits like independence from governments’ rules or banks, potentially making money democratically accessible to everyone.
Where Are Utility Tokens and Cryptocurrencies Used?
Cryptocurrencies are generally used in the same way as fiat currencies – to purchase goods and services. Utility tokens, as we’ve seen, are usually more restricted to use within a certain project.
Here are a few examples of how the two are used:
Utility Tokens and Cryptocurrencies in iGaming
Both utility tokens and cryptocurrencies are redefining player experiences and business models in the iGaming industry. Gamers can use utility coins and cryptocurrencies to deposit money and buy in-game perks on most casinos like Crypto Casino (available at https://cryptocasino.ltd/).
What makes them increasingly popular? They provide a universal means of payment on platforms like a crypto poker casino, making depositing and withdrawing across borders simpler and offering extra security and anonymity features. If anything, utility tokens have more use in iGaming than anywhere else.
Utility vs. Cryptos in E-Commerce
As an example in e-commerce, cryptocurrencies are becoming widely accepted as a mode of payment that allows for faster transactions without necessarily requiring traditional banking methods. One study scored e-commerce as the top industry using cryptocurrency. Why? They reduce transaction charges and eliminate geographical boundaries. Who would not want that?
On the other hand, utility tokens can make e-commerce exciting by giving consumers rewards or discounts when they use the platform. The result? More brand loyalty, marketing for the utility coin, etc.
The difference is that people can pay using cryptocurrencies; they would not with utility coins.
What Are The Differences?
The essential disparity between utility tokens and cryptocurrencies lies in how they should be employed and what tasks they can do. Cryptocurrencies aim to replace national currencies in digital form without interference from politics, hence, their decentralised nature makes them secure. But – anyone who knows anything about cryptocurrency will know politics ended up having a lot of influence over the market. Utility tokens do not have even half of the influence on financial markets as cryptocurrencies do.
Utility tokens are usually confined to a specific company or application and can be used for storing value, voting rights, and buying goods or services from the project, but not in any other place as general currency. That is the main difference. And they are distributed through initial coin offerings.
What Are the Similarities?
Utility tokens and cryptocurrencies use the same secure, decentralised network. They share some key features of blockchain technology, like reduced exposure to fraud risks and lower transaction costs compared to traditional financial systems.
Together – these attributes highlight how blockchain could radically alter many sectors by creating more secure, transparent, and efficient means of doing business.
Other than that, they do not actually share too many similarities, but they are used across numerous industries.
Do you understand utility tokens now? They are slightly different to cryptocurrencies but similar. For a lot of traders, they are more relatable. These digital assets are heading for new forms of interaction within our digital age, whether integrating into the world of games or improving online shopping experiences.
Estimates predict that there are over 13,000 cryptocurrencies on the market today for people to invest in, but one has stood the test of time and remained popular in a way that the others simply haven’t. Bitcoin is known all over the world, with millions of users and ways that the cryptocurrency can change hands daily.
Why is Bitcoin so popular? Myriad reasons contribute to this, and we’re breaking down the story of the best-known crypto and why it is still king in most peoples’ eyes.
Adoption and Everyday Use
Market cap statistics will tell you that Bitcoin has the highest level of adoption on the market (and the highest value) as of 2024. Cryptocurrencies are often seen as speculative investments by people, but this isn’t the case for Bitcoin, as it can be used on a day-to-day basis in a way a lot of meme coins or altcoins can’t yet.
Bitcoin can be used in a crypto wallet and then sent to a variety of retailers and companies who have adopted the currency just like a traditional, flat currency.
Gambling and the casino industry have had a huge amount of power here and have helped to catapult Bitcoin to where we see it today. Top online casino brands in the USA have started to use this as their main currency or adopt it alongside others, knowing that Bitcoin offers lots of potential benefits for gamblers. Estimates say that more crypto transactions take place in the gambling industry than in any other industry.
People actually use Bitcoin in this scenario rather than just holding it, something we have seen with some other cryptocurrencies. Casino gamers can move their money around a lot more quickly using Bitcoin and also know that it is secure, as well as having low fees compared to some other methods.
BitPay is one company that has also had a role to play and helps over 250 stores to provide Bitcoin payments including some household names like Adidas. People can pay in Bitcoin and the merchants can accept the currency even if they want it to be instantly exchanged into another currency. Payment processing companies using Bitcoin is one of the ways that the currency may become even more popular.
Not a lot of cryptos can be used to buy a shirt, pay for a meal, or head to the cinema with your friends, but Bitcoin absolutely can.
Bitcoin: The “OG”
To use a modern term, Bitcoin is the OG of cryptocurrencies. Though talk of a decentralized and cryptographic currency can be traced back decades, Bitcoin was the first to put this into action.
Bitcoin is issued by mining, something still done today, and which a lot of people have heard about.
The domain name bitcoin.org first got picked up in 2008, and also that year, there was a paper called “Bitcoin: A Peer-to-Peer Electronic Cash System” sent to a mailing list centering around cryptography. This paper was by someone called Satoshi Nakamoto, thought to be a pseudonym now. This is a mysterious figure that not a lot of people know about, and there is a lot of speculation even today about whether he is a real person, or who may be behind this pseudonym.
Bitcoin gained a lot of traction in the early years and its value started to rise. In 2013, the Wall Street Journal was paying close attention and reported that 12 million Bitcoin had been mined.
Alternatives and other cryptocurrencies started cropping up within years, and today there are tens of thousands of them, but they haven’t hit the heights of Bitcoin, which is further along its journey, especially when it comes to mainstream acceptance.
It is arguable that Bitcoin is still so huge today as it got to the market first.
Big-Name Support
Big-name supporters have definitely been one of the reasons why Bitcoin has stayed on people’s minds. Celebrities and businesspeople have been outspoken in their support. Elon Musk is one that springs to mind straight away. He was quick to spot the potential and is thought to hold a lot of the Bitcoin currency in circulation through his companies.
Sports stars have also potentially helped to keep the public’s attention on Bitcoin. Huge NFL stars like Odell Beckham Jr. have agreed to take their wages in Bitcoin, and this has become a trend in a few industries. People often trust their celebrity idols and the faith many millionaires are putting in Bitcoin will have done them no harm.
Conclusion
Cryptocurrencies aren’t restricted to just one main player. It has already been shown that there are lots of potential ways cryptocurrencies can grow together, but Bitcoin is seen as the first as well as the most successful at this moment, in terms of being a household name, no other decentralized has really hit these heights just yet, thanks to big-name support and the fact it has entered daily use for many people.
MAGA Shiba Inu (MAGASHIB) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
MAGA Shiba Inu (MAGASHIB), a new Solana memecoin that was launched today, is poised to explode over 13,000% in price in the coming days.
This is because MAGASHIB has announced its first centralized exchange listing, which will be on MEXC – one of the largest exchanges in the world.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, MAGA Shiba Inu can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and MAGA Shiba Inu could become the next viral memecoin.
MAGA Shiba Inu launched with over $7,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy MAGA Shiba Inu on Raydium or Jupiter ahead of the MEXC listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for MAGA Shiba Inu by entering its contract address – 73mqxPkM9P59GeudJ2DT8i2v94QfLkfVVbfQnU2DTP5r – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MAGASHIB.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK), and Dogecoin (DOGE) made astronomical returns, and Diamond Paws (DIAPAWS) presents a similar opportunity for a limited time.
Diamond Paws (DIAPAWS), a newly launched Solana memecoin, is poised to explode over 17,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK), and Dogecoin (DOGE) investors pour funds into this new token.
DIAPAWS will be listed on MEXC, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Diamond Paws.
Currently, Diamond Paws can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy DIAPAWS on these platforms, users need to connect their Solflare, MetaMask, or Phantom wallet, and swap Solana for Diamond Paws by entering its contract address – HCEn3J1sKqMqPxrQDE33rGhJvyXh4r3YgyzD2wiAm3ga – in the receiving field.
DIAPAWS currently has a market cap of just under $16,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE), and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Black Donald Trump (BLATRUMP) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Black Donald Trump (BLATRUMP), a Solana memecoin that was launched yesterday, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Black Donald Trump presents a similar opportunity.
BLATRUMP rallied over 600% in the first few hours after its launch, before consolidating as some early buyers cashed out their profits.
However, most investors are still holding their tokens, as they are waiting for BLATRUMP to be listed on ByBit later this week, as this listing will cause the coin’s price to skyrocket.
Its current price presents a great opportunity for new investors to buy the dip before the next rally.
BLATRUMP has a market cap below $30,000 at the moment, meaning that when it just reaches a modest market cap of around $500,000-$1,000,000, early investors would generate returns of 2,000%-3,000% in a matter of days or hours.
The exciting memecoin is poised to rally another 12,000% in the coming two days, and Black Donald Trump (BLATRUMP) could potentially reach a multi-million dollar market cap within a few weeks.
Currently, BLATRUMP can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Black Donald Trump (BLATRUMP) on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for BLATRUMP by entering its contract address – 29BiHVTBEo7RnbtwqwTmV3Hy6nDTadcCgopM6HUyjGRK – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like BLATRUMP.