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Shiba Inu whales are making a comeback after dumping 10 trillion tokens as the Shibarium beta testnet was released last week. The top 100 ETH whales have begun accumulating SHIB this week, while the token is dropping in value. According to recent data from WhaleStats, two different whales purchased nearly 1.2 trillion SHIB tokens on March 20. The purchases were combinedly worth nearly $10.89 million. Also Read: Shiba Inu: 3 Classic Hits & Iconic Moments of SHIB Ever Recorded ETH whale "Kvothe" just bought 899,999,734,985 $shib ($9,611,997 USD). Ranked #232 on WhaleStats: https://t.co/CfilpTbqSZ Transaction: https://t.co/VAle0DAtFJ#SHIB #ShibArmy — WhaleStats (tracking crypto whales) (@WhaleStats) March 20, 2023 The first transaction was initiated by a whale with the wallet address ‘Kvothe’. The whale purchased 899,999,734,985 (899.99 billion) SHIB tokens valued at $9.61 million. A few hours later, Shiba Inu’s most famous whale ‘BlueWhale0073’ took a new ...

Did the depegging reveal stablecoins’ limitations, or was it a learning moment? USD Coin (USDC), the world’s second-largest stablecoin, may simply have been in the wrong place at the wrong time.  The place was Silicon Valley Bank (SVB), a commercial bank with $209 billion in assets, where USDC issuer Circle had deposited $3.3 billion of its cash reserves for safekeeping. The time was the present: one of rapidly rising interest rates in which institutions like SVB, which had long been gathering short-term deposits to buy long-term assets, got whipsawed. For several harrowing days, USDC lost its peg to the U.S. dollar, sinking to as low as $0.85 (depending on the exchange) before recovering to $1.00 on Monday, March 13. This was the coin that many considered to be the poster child for fiat-based stablecoins, i.e., the most transparent, compliant and frequently audited. An unpredictable turn of events? “It’s ironic that what was supposed to be the safest place to put stablecoin reserve...

Join Our Telegram channel to stay up to date on breaking news coverage The hype surrounding the metaverse and the ecosystem’s token has skyrocketed over the past few years, with RobotEra taking the lead with its native TARO token. Having already raised upwards of $1.02 million in Q2 of the presale stage, the Web3 game promises a user-centric world-building narrative. The project boasts a player-powered non-fungible token (NFT) economy and decentralized governance, with analysts taking a bullish stance on TARO across 2023. The RobotEra platform offers a nuanced world-building feature founded upon an intriguing backstory. This, among other elements of the game, readies it to significantly impact the metaverse gaming space. Particularly, it integrates player customization, collaboration, and economic involvement. RobotEra: Reimagining The Gaming Experience In The Metaverse Gaming enthusiasts have much to do within the RobotEra metaverse, starting with a chance to participat...

In our latest Cointelegraph Report, we broke down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explain what this all could mean for crypto. Last week’s rapid collapse of Silvergate, Silicon Vallley Bank and Signature Bank have highlighted the fragility of the traditional banking sector while depriving crypto of the main fiat on-ramp points in the U.S.  Most observers agree that the collapse of SVB, like the one of Silvergate, was largely the result of unfavourable market conditions and poor risk management.  The shutdown of Signature was more controversial. According to multiple sources, the bank was not facing insolvency and had largely stabilized its capital outflow when U.S. regulators decided take over it last Sunday. Many in the crypto industry saw it as a political decision, aimed at pushing crypto out of the U.S. Silvergate and Signature were the two main financial institutions providing Banking services to crypto companies in the US: fol...

What does the future for crypto bring amid 2023’s convergence of events, challenges and opportunities? 2023 is proving to be a pivotal year for the crypto space, with many events converging to shape its future trend and adoption in the near term. While there are many variables at play, here are three key factors that are poised to impact the crypto market throughout 2023. Rising crypto supply In terms of supply increases, the following two major events could potentially affect the crypto market. ETH Shanghai upgrade In April 2023, Ethereum will undergo a Shanghai upgrade to completely transition into a proof-of-stake (PoS) blockchain, which is expected to significantly improve the network’s performance. The PoS journey started with the launch of the Beacon Chain in December 2020, during which users deposited over 500,000 ETH into the staking smart contract. Presently, over 17.5 million ETH is secured in the contract, effectively reducing the total circulating supply currently locke...

During the Execution Layer Meeting streamed on March 16, 2023, Ethereum developers announced that the blockchain is scheduled to upgrade on April 12, in 27 days. The upgrade, known as the Shanghai-Capella upgrade or Shapella, will include the implementation of Beacon chain push withdrawals. This will enable Ethereum network validators to support withdrawal operations following the ruleset change. Ethereum Validator Withdrawal Operations and Fee Optimization Enhancements Set to Go Live in 27 Days At the time of writing, the Beacon chain contract holds 17,680,535 ether, worth $29.33 billion using today’s Ethereum exchange rates. The upcoming upgrade, called Shapella, will enable the Beacon chain to use push withdrawals as operations through Ethereum Improvement Proposal (EIP) 4895. According to the EIP-4895 documentation, this will “support validator withdrawals from the Beacon chain to the EVM via a new ‘system-level’ operation type.” Additionally, the summary ...

The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa il legal . In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. Spagni Challenges Extradition Process A South African court has dismissed former Monero lead developer Riccardo Spagni’s attempt to have his extradition from the United States to South Africa ruled il legal , a local report has said. In its ruling, the court argued that Spagni had legal representation when he voluntarily waived his rights during an extradition hearing, hence he cannot question the validity of the extradition process. As previously reported by Bitcoin.com News in July 2022, Spagni, who initially resisted the extradition attempts, eventually agreed to return to South Africa on the condition that his “release on warning had not ...

According to digital asset manager CoinShares, institutional crypto investments lost the most money in a single week ever last week. In its most recent Digital Asset Fund Flows Weekly Report, CoinShares says that crypto investment products lost a record-breaking $255 million, which is 1% of the total assets under management. It was the fifth week in a row that these crypto institutional investment products lost money. The hardest hit were Bitcoin (BTC) products, which lost a total of $243.5 million. Ethereum (ETH), on the other hand, only lost $11 million. CoinShares says that the total outflows “wiped out” the net inflows seen so far in 2023. This means that crypto investment products have lost $82 million so far this year. Not every investment product had a bad week, though. Solana (SOL) products, which compete with ETH, brought in $400,000, and XRP products brought in $300,000. Polygon (MATIC) products brought in a total of $100,000. The r...

While the banks caving in has been synonymous with a stock price nosedive, the crypto assets have managed to shield themselves from the catastrophe so far. On social media platforms like Twitter, the hashtag “BullMarket” has been trending. The same, to a fair extent, indicates that the community is pumped and is expecting the rally to carry on. As far as the inclines are concerned, Bitcoin has appreciated by over 10% in the past 24 hours, while Ethereum and other Altcoins have noted significant single-digit upticks. Source: Twitter However, there doesn’t seem to be enough support at this stage. Data from CoinShares’ latest weekly report brought to light that digital asset investment products noted outflows for the fifth consecutive week, totaling $255 million. The same equates to the largest single weekly outflows on record, representing 1% of total assets under management. Furthermore, the report highlighted, “ AUM has fallen by 10% over the week, retracing back to le...

Join Our Telegram channel to stay up to date on breaking news coverage Janet Yellen, the U.S. Treasury Secretary, has confirmed that the Silicon Valley Bank (SVB) will receive help from the government. However, she has ruled out a bailout for the failed bank in response to calls for such action. Yellen has reassured depositors she is working alongside other financial regulators to ensure their protection. She emphasized that there are no plans for a significant government bailout. Silicon Valley Bank (SVB) Yellen has highlighted the banking reforms implemented following the 2008 financial crisis as a reason bailouts are unnecessary. She stated that the U.S. banking system is now more resilient and better capitalized than in 2008. On Sunday, Yellen said the federal government would not bail out the failed Silicon Valley Bank . This news came after reports revealed that the bank’s employees received bonuses shortly before the bank’s collapse on Friday.  The ti...

The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize traditional assets and organize their trade. Number of Licensed Digital Asset Issuers in Russia Grows to Five The Central Bank of Russia (CBR) has included the company Distributed Registry Systems, with its Masterchain platform, to the register of operators of information systems which can be used to issue digital financial assets (DFAs), the business news portal RBC reported. Four other issuers have been registered so far. These are the tokenization service Atomyze, the fintech company Lighthouse, as well as Sberbank and Alfa-Bank, the largest state-owned and private bank in the Russian Federation, respectively. Established in April, 2021, Distributed Registry Systems is an IT company specialized in developing blockchain-based solutions for ...

Shiba Inu has emerged as one of the most prominent meme coins. What made the meme coin exceptional among the lot were the various developments and projects. The Shiba Inu team launched several projects in 2022, including the Shiba Eternity game and the SHIB metaverse. However, one of the most prominent and much-awaited launches was Shibarium. Even though it was initially set to be launched in 2022, it dragged on for various reasons. Perhaps Shytoshi Kusama, the lead developer of Shiba Inu, has brought some good news to the SHIB community. Source: Bank of England to Place Silicon Valley Bank UK into Insolvency Procedure According to the details from Kusama’s recent blog post, the Shibarium public beta is now live. JUST IN: Shiba Inu $SHIB launches decentralized blockchain beta called Shibarium. pic.twitter.com/4vBlOJJoxJ — Watcher.Guru (@WatcherGuru) March 11, 2023 Shibarium public beta is now live Kusama mentions Shibarium as an opportunity that can cha...

Dogecoin fell to its lowest level since October, as cryptocurrency prices plunged during Friday’s session. Overall, the global crypto market cap dropped by nearly 9% today, which seems to have been triggered by yesterday’s liquidation of Silvergate bank. Litecoin has been another notable mover, falling by over 17%. Dogecoin (DOGE) Dogecoin fell to a five-month low on Friday, as crypto prices continued to plummet, following the liquidation of Silvergate Bank. DOGE/USD dropped to an intraday low of $0.06302 earlier in the day, less than 24 hours after trading at a high of $0.0722. As a result of the decline, dogecoin fell to its lowest point since October 26, when price bottomed out at $0.0627. DOGE/USD – Daily Chart Looking at the chart, the sell-off came as the relative strength index (RSI) of 14 days dropped below a long-term floor at 30.00 As of writing, the index is tracking at 21.52, which is very deep in bearish territory, and its weakest reading since J...