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CoinGate Integrates SHIB on Polygon and Binance Smart Chain, Expanding Crypto Payments to Major Brands like Airbnb and Nike

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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.

READ MORE: Grayscale Bitcoin Trust Struggles with Investor Outflows Despite May Influx

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.

Bitcoin Surges Past $64,000 as U.S. Core Inflation Hits Three-Year Low

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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.

READ MORE: Bitcoin’s Volatility Drops Below Major Tech Stocks, Signaling Maturity and Stability as an Asset Class

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.

How Do Utility Tokens Differ to Cryptocurrencies?

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.

Why Bitcoin is Still the Best-Known Cryptocurrency Out There

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.

Cosmos Hub Approves $1 Million Grant to Dora Factory for Quadratic Funding Initiative

Singapore, Singapore, May 15th, 2024, Chainwire

A major event in Cosmos is the recent passing of Governance Proposal No.917: a request by Dora Factory and DoraHacks for a $1 million grant from the Cosmos Hub community treasury. This grant will support ten rounds of Quadratic Funding within the Cosmos Hub ecosystem over the next two years.

As one of the largest treasury funding applications, this proposal sparked extensive discussions within the Cosmos community and received overwhelming support. Over $1 billion worth of ATOM, including major validators and core Cosmos contributors, voted in favor. The approval rate reached 91.9%, making Gov Proposal 917 the motion with the highest approval rating in the Cosmos Hub’s history. 

Following the approval of this proposal, Dora Factory, in collaboration with DoraHacks, has officially announced the second AEZ (ATOM Economic Zone) quadratic funding program, marking the launch of the first long-term funding initiative. This quadratic funding program will span two years, starting May 15, 2024, and ending May 2026.

The passing of Gov Proposal 917 brings native Quadratic Funding to the Cosmos Hub for the first time. 

What is Public Goods Funding?

Public goods funding is a frequently discussed concept within the Web3 industry. Generally, public goods refer to goods or services that are available for everyone to use. 

In crypto, public goods can include blockchain infrastructure, storage, developer tools, software middleware, and user-facing applications such as block explorers, data dashboards, and wallets.

Due to its inherent transparency and verifiability, crypto and blockchain are ideal tools for funding public goods.

However, web3 public goods funding also faces numerous challenges.

  • Lack of coordination among the various parties involved in public goods funding (foundations, institutions, DAOs, developers, and communities).
  • A shortage of sustainable and effective funding mechanisms.
  • Public goods funding is often perceived as not interesting.

Enter Dora Factory, which strives to build infrastructure that enables large-scale adoption of public goods funding.

Dora Factory: Infrastructure Born for Public Goods

Dora Factory is a leading decentralised governance infrastructure and multi-chain public goods funding protocol stack, incubated and supported by DoraHacks, the industry’s developer and public goods funding platform. Its products include Public Good Staking infrastructure and Dora Vota, an appchain for voting and governance designed to empower the global Hacker Movement, open-source communities, and DAOs. 

Multi-Chain Quadratic Funding: Aligning Communities and Ecosystem Builders

What is Quadratic Funding? Through native-token donations, token-holder communities can support high-quality early-stage projects and public goods within various ecosystems, fostering better collaboration among foundations, communities, and developers. 

As the first and only team in the industry to develop and advocate for this approach, Dora Factory is a true leader in multi-chain quadratic funding. It has successfully deployed native quadratic funding in numerous mainstream crypto ecosystems, including BNB Chain, Solana, Polygon, Aptos, Cosmos Hub, Injective, and Avalanche.

Public Good Staking: Providing Sustainable Funding for Public Goods

In late 2022, Dora Factory introduced the concept of Public Good Staking. By operating underlying infrastructure such as validators, they earn native block rewards that are continuously used to fund multi-chain developers and public goods ecosystems.

Dora Factory has promoted public good staking in over 30 ecosystems’ mainnets and testnets, achieving a TVL (Total Value Locked) of over $400 million, providing up to $10 million in sustainable annual funding.

In the future, Dora Factory will explore ways to use cryptocurrency to fund cutting-edge technology fields like space technology, quantum computing, artificial intelligence, and biomedical research. 

Community Incentive Fund: Making Public Goods Funding More Fun

Dora Factory launched the Community Incentive Fund to make the public goods funding process more engaging and fun. Top meme and NFT projects like Celestia’s Celestine Sloth Collection, Injective Ninja, Aptos Gui Inu, and Aptos Monkeys have become partners of the Community Incentive Fund. Through retroactive airdrops and gamified donations, these projects have brought more fun to public goods funding, receiving contributions and donations from nearly 100,000 unique addresses across different communities.

Anonymous Minimum Anti-Collusion Infrastructure (aMACI): Bringing Privacy Technology to On-Chain Public Goods Governance

MACI is a cryptographic technology designed to maximize the detection and elimination of collusion in voting. In 2022 and 2023, the Dora Factory team collaborated with ETHDenver, 0x, and OpenSea to introduce privacy voting to crypto hackathons. MACI has significantly improved privacy and reduced collusion in on-chain governance and voting. 

In 2024, Dora Factory launched aMACI, adding voter anonymity to eliminate collusion between the vote initiator and the operator. This further enhances privacy and lowers the usage threshold of MACI voting. This is a significant step towards future large-scale decentralized voting systems. 

Dora Vota: Open Infrastructure for Public Goods Funding

Dora Vota is a multi-chain governance and voting infrastructure. Vota and interoperability protocols like IBC will provide modular voting and governance infrastructure, such as plug-and-play quadratic funding modules and grant distribution mechanisms. As the first permissionless appchain focused on scaling on-chain voting, Dora Vota will offer developers a valuable playground, unlocking more possibilities for public goods funding and decentralized community governance.

Recently, Dora Factory secured strategic financing from dao5, Whampoa Digital, and angel investors like EigenLayer co-founder Calvin Liu. This is the first strategic round of a new funding series since Dora Factory’s $17.5M raise in 2021.

As Dora’s Public Good Staking grows and Vota’s ecosystem matures, the team believes Dora Factory will continue exploring new solutions to traditional funding inefficiencies, accelerating the maturity of governance and public goods funding in the multi-chain ecosystem.

Contact

Community contributor
Chris Lee
Dora Factory
winniedrinkwater@gmail.com

Multipool Announces LBP After Raising $650k in VC Round Led By NxGen

Majuro, Marshall Islands, May 15th, 2024, Chainwire

Multipool, a leading innovator in the blockchain and cryptocurrency industry, announces the close of its $650k VC investment round led by NxGen, and the announcement of its Fjord Foundry LBP on May 21st-23rd. In the past month, Multipool has brought together the best of the crypto investment scene and connected them with the next big thing, receiving an overwhelmingly positive response from the community.

“We’re thrilled to have raised $650k from VC & private investors. With NxGen, we aim to take the Multipool project of a DEX with CEX appeal to new heights and bounds, revolutionizing the crypto space. The LBP launches on Fjord Foundry, May 21st, stay tuned! ” Wojciech Kaszycki, a Core Contributor at Multipool

Partnered with Professionals

The Multipool LBP launches with industry professionals including NxGen, a group of private investors and advisers. These stakeholders provide Multipool with all the skillsets and regulatory support needed to reshape the industry offering compliance, flawless technological development and widespread awareness.

The Big Launch

With the close of the VC round, Multipool will launch their LBP on Fjord Foundry May 21st – 23rd, where crypto enthusiasts from all around the world can participate, joining a community of vibrant experts on the cutting edge of crypto tech.

To learn more about Multipool and the upcoming LBP, users can visit:

Website – www.multipool.finance

Telegram – t.me/multipoolfi

X – https://twitter.com/multipoolfi

About Multipool

Multipool is a cutting-edge decentralized exchange (DEX) transforming the trading landscape for real-world assets (RWAs) and cryptocurrencies. Multipool is designed for fairness and equality, featuring a fully decentralized on-chain order book, deep liquidity through dynamic bracket pools, and seamless trading of RWAs and cryptocurrencies. Utilizing world-class innovations including industry-first FIX APIs, low latency networks, zero price impact auctions, trustless RFQs, peer-to-peer repo lending, and MEV bot protection, Multipool sets a new standard in DeFi trading. Experience unparalleled efficiency and security in your trading journey with Multipool – The DEX with CEX appeal.

https://www.multipool.finance/

Contact

Public Relations Manager
Angie Hermosa
Multipool
press@multipool.finance

ETFSwap (ETFS) Crosses 4,000 Users With $1.5 Million Raised

Singapore, Singapore, May 15th, 2024, Chainwire

ETFSwap (ETFS), an emerging decentralized cryptocurrency and Exchange-Traded Funds (ETFS) platform, has achieved a series of significant milestones, marking a historic moment in its development and presale. With the support and confidence of thousands of users and investors worldwide, this ground-breaking platform is experiencing a meteoric rise in popularity.

In addition, ETFSwap (ETFS) is gaining global recognition as a significant player in the tokenized ETF market. It offers a platform that is both distinctive and accessible, as well as unique and user-friendly, for trading cryptocurrencies and ETFs.

ETFSwap (ETFS) Records Unprecedented Surge To Cross 4,000 Users

As of November 2023, the global ETFs industry reached a valuation of $10.99 trillion and has been growing rapidly ever since. Given this expansion, an increasing number of cryptocurrency enthusiasts and investors have looked for ways to engage with the potential in this sector.

ETFSwap (ETFS) emerges as a bridge between the traditional and Decentralized Finance (DeFi) ecosystem. This platform offers investment opportunities for global investors, exposing them to trillion-dollar sectors such as health, energy, technology, commodities, and more

ETFSwap (ETFS) offers crypto investors a novel service that has never been seen in the industry. It allows access to the trillion-dollar traditional ETFs market, allowing them to expand their investment portfolio by tokenizing these assets for easy trading. But perhaps where ETFSwap (ETFS) really outpaces its competitors is that it presents an easy on-and-off ramp for trading ETFs using both crypto and fiat, coupled with the decentralization of the Ethereum blockchain.

Over the next year, the platform plans to complete its roadmap with the full launch of the ETFSwap (ETFS) trading platform open for all. Additionally, it’ll launch its partnership program, launch its staking decentralized application (DApp), and roll out community rewards.

Its token will launch on decentralized exchanges such as Uniswap, with open public trading to follow. This comes with a full-blown marketing roll-out such as CoinMarketCap fast-track, Key Opinion Leaders (KOLs), and token competitions.

The ETFSwap (ETFS) platform has undergone a rigorous audit by CyberScope, a leader in the blockchain security industry. The audit found no vulnerabilities in its contract, with the company declaring it safe for investment.

Ahead of its full platform launch, the company is focused on securing all necessary licenses required to bring this novel service to investors worldwide. To sweeten the pot, it requires no KYC (Know Your Customer), which means investors just need to connect their wallet to start trading on the website. 

ETFSwap (ETFS) is already seeing unparalleled adoption amongst users across diverse regions globally. Currently, the innovative platform has recorded more than 4,000 users in just a few weeks. 

This surge in adoption is fueled not only by ETFSwap’s (ETFS) advanced trading technology and capabilities but also by the rising interest in tokenized ETFs within the digital asset landscape. 

Key Milestones and Presale Progress

Thanks to ETFSwap users’, ETFSwap (ETFS) has successfully hit key developmental milestones. With the help of institutional investors, ETFSwap (ETFS) successfully raised over $750,000 in its private fundraising round.

In addition to the growth of ETFSwap’s user base, the first stage of the ongoing presale has seen over 75 million tokens sold.

The ETFSwap team noticed the increase in sales and, with a strategic decision, has raised the ETFS token price from $0.00854 in its first presale stage to $0.01831 during the second stage. The public presale has also collectively raised over $1.5 million in a few weeks. 

For more information about the ETFS Presale:

Users can visit ETFSwap Presale

Users can join The ETFSwap Community

Contact

Jacob Moss
ETFSwap LLC
info@etfswap.io

Shibarium Sees Transaction Fees Surge by 267% Amid Rising Interest in Shiba Inu Tokens

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Shibarium, the Layer-2 blockchain designed for the Shiba Inu community, has seen a dramatic increase in transaction fees, with a recorded 267% rise in the last 24 hours.

According to Shibariumscan, the gas fees, paid using BONE—the native token of the Shiba Inu ecosystem—escalated from 11.57 to 30.98 BONE.

This increase is primarily due to a surge in network activity, likely driven by a growing interest in Shiba Inu tokens following recent market shifts.

The Shiba Inu ecosystem, which uses BONE for transaction fees, is experiencing heightened transaction volumes.

As a result, the cost for users has significantly increased.

BONE not only facilitates transaction payments on Shibarium but also plays a key role in the ecosystem’s tokenomics.

READ MORE: SEC Denies Coinbase’s Appeal in Ongoing Securities Lawsuit, Citing Manipulation of Legal Queries

Each transaction using BONE helps in burning SHIB tokens, as a portion of the BONE fee is converted into SHIB and sent to a dead wallet.

This process reduces the total SHIB supply, potentially enhancing its scarcity and value.

This notable increase in fees raises several questions about the future of the Shiba Inu network and its tokens.

Stakeholders are now contemplating whether the spike is indicative of a long-term trend of increased activity or if it’s a temporary surge.

The sustainability of such high fees is also in question, as is Shibarium’s strategy to manage demand while maintaining network efficiency and scalability.

Additionally, the broader context includes recent integrations that have enabled Shiba Inu (SHIB) payments with major brands like Airbnb and Nike, expanding the token’s utility and exposure.

However, the overall market sentiment remains bearish, creating an uncertain environment for SHIB and BONE investors.

These developments suggest critical times ahead for Shibarium, as it must navigate through market fluctuations and user expectations to sustain growth and retain user engagement.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Shiba Inu’s Rocky Road to 2.5 Cents: Analysts Predict Long-Term Surge Despite Current Market Challenges

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The journey for the cryptocurrency Shiba Inu (SHIB) towards a potential price of 2.5 cents has been filled with challenges and fluctuations.

Recently, the crypto market experienced a surge of enthusiasm that temporarily boosted several tokens, including Shiba Inu.

However, this optimism quickly waned as the market downturn took over, leading to a significant decrease in SHIB’s value.

Currently, Shiba Inu is priced at $0.00002259, reflecting an 8.14% drop over the past week and a stark 32% decline from its price 60 days ago.

Despite the enthusiasm of SHIB supporters for a substantial increase to $0.025, the path to reaching such a milestone appears increasingly difficult.

Amidst these market uncertainties, the analytics platform Telegaon has provided some insights into SHIB’s future price movements.

According to their analysis, Shiba Inu might achieve the $0.025 mark between the years 2035 and 2040.

Starting from its current price, SHIB would need to undergo a massive rally of 110,568% to reach this target.

This ambitious growth forecast is not unfounded considering Shiba Inu’s historical performance.

READ MORE: Binance Receives Approval to Operate in India, Joins KuCoin as Second Offshore Crypto Exchange Cleared by FIU

In January 2021, SHIB was trading at a mere $0.00000001, as per data from CoinMarketCap.

By October of the same year, the cryptocurrency had surged to its all-time high of $0.00008845, marking an impressive 884,400% increase.

This historical precedent suggests that a 110,568% rally is within the realm of possibility for Shiba Inu.

In their forecast, Telegaon anticipates that SHIB will eliminate three leading zeros from its price to hit the $0.025 mark in about 16 years.

This view is corroborated by analysts at the cryptocurrency exchange Changelly, who also support a 2040 timeline for Shiba Inu to reach this price threshold.

As the crypto community watches these developments, the potential for Shiba Inu to replicate its past explosive growth remains a topic of keen interest and speculation.

The consensus among experts seems to lean towards a long-term horizon for SHIB to achieve these ambitious goals.

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

Bitcoin’s Volatility Drops Below Major Tech Stocks, Signaling Maturity and Stability as an Asset Class

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Bitcoin‘s annual volatility has recently dipped below that of top tech stocks like Tesla, Meta, and Nvidia, positioning it closer to a more mature and stable asset class.

As of May 11, the 1-year realized volatility of Bitcoin was approximately 44.88%, which is lower than the over 50% seen in these major tech stocks.

This marks a significant shift from Bitcoin’s earlier days when its volatility exceeded 200%, reflecting the usual traits of a new asset class experiencing high capital inflows.

The decreasing volatility signifies Bitcoin’s evolution, as Fidelity Investments reports.

Notably, Bitcoin showed lower volatility compared to 33 out of approximately 500 S&P 500 index companies.

A pivotal observation made in October 2023 highlighted that “Bitcoin was actually less volatile than 92 of the S&P 500 stocks in October of 2023 when using the 90-day realized historical volatility figures.

Some of these names are also large-cap and mega-cap stocks.” This suggests a growing stability relative to significant market players.

Bitcoin’s stability trajectory mirrors that of gold in its early years, which initially faced high volatility followed by gradual stabilization.

Gold, after its decoupling from the U.S. dollar in 1971, saw its volatility soar above 80 in the 1970s, nearly double that of Bitcoin’s in April 2024.

However, as gold settled into an established asset class, its volatility lessened, paralleling Bitcoin’s current path toward integration into the broader financial landscape.

READ MORE: Binance Receives Approval to Operate in India, Joins KuCoin as Second Offshore Crypto Exchange Cleared by FIU

Recent comparisons further underscore Bitcoin’s maturation.

Its current volatility is around 44% at price levels above $60,000, significantly lower than the 80% noted three years prior when prices were similar.

Fidelity researcher Zack Wainwright explains the implications, stating, “Bitcoin was nearly half as volatile in 2024 at $60,000 when compared with 2021.

When putting this all together, a thesis pointing toward a growing acceptance of Bitcoin due to potential maturation begins to emerge.”

The reduction in volatility has often preceded substantial price surges, indicating an increase in investor confidence and accumulation behavior.

This pattern was observed in December 2023, when Bitcoin’s reduced volatility of about 43% was followed by a 75% price increase, driven by demand for spot Bitcoin ETFs in the U.S., which had attracted $11.68 billion by May 11.

Looking ahead, significant investment inflows are expected from major institutional players, including sovereign wealth funds and pension funds, engaging with Bitcoin ETFs.

BlackRock’s Robert Mitchnick and independent market analyst Scott Melker suggest that the growing institutional involvement, driven by Bitcoin’s newfound stability, could propel its price to between $100,000 and $150,000.

Melker emphasizes the importance of patience, noting, “The massive institutional flood of money that will drive bitcoin to all-time highs.”

To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.

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