Shiba Inu Prepares For A Rebound With 30% Upswing! This Key Level Will Play A Significant Role For SHIB Price
As the cryptocurrency industry has regained momentum following the storms of last year, one token has emerged as a frontrunner: the Shiba Inu (SHIB) coin. It has been generating buzz on Twitter and Discord for several weeks, and its price has surged by almost 60% since the beginning of 2023, outperforming more significant competing tokens like Ethereum (up 37%) and Bitcoin (up 41%). As a result, market analysts believe that meme coin investors will likely witness a heavy pump in March, and Shiba Inu will take the top place.
Shiba Inu To Dominate Major Meme Coins Soon
One factor that could potentially propel Shiba Inu to new heights is the launch of Shibarium, an upcoming blockchain network that will be integrated with the Shiba Inu coin. It is being constructed as a “Layer-2” blockchain, built on top of the Ethereum blockchain, which provides the foundational structure for Shiba Inu and all its functionalities.
Moreover, Shytoshi Kusama, the developer behind both the Shiba Inu meme coin and its associated Shibarium Layer-2 solution, has announced that a new prominent project has endorsed Shibarium, adding to the growing list of supporters.
Voxel X Network has announced on Twitter that it has embraced Shytoshi Kusama’s vision for a decentralized Shibarium that includes all projects. The tweet further states that Voxel X and over 75 of its listed partners will actively promote Shibarium. This news from the SHIB community sparks fresh excitement among meme coin investors and sets the stage for a solid bull run in March.
SHIB Price To Surge By 30%
Although the Shiba Inu price has experienced a solid rebound in the past, the meme token has witnessed a decline in value recently, leading SHIB traders to suspect an impending downtrend. Nevertheless, the present market trend of the SHIB token suggests a bullish price momentum.
Despite a sharp decline to the weekly support level of $0.00001191, SHIB’s price is flashing bullish signals as it surged above its 23.6% Fib level from the support level. Investors are now eagerly waiting for a breakout above the immediate resistance of $0.000013 to set up a short-term bullish goal in the SHIB price chart.
As of writing, SHIB’s price trades at $0.00001234, with a decline of 0.64% in the last 24 hours. Looking at the 4-hour price chart, SHIB price is preparing to trade above the EMA-20 trend line as it witnesses a spike in trading volume. A breakout above $0.000013 will push the token to a crucial price of $0.000014, above which SHIB price will head toward the Bollinger band’s upper limit of $0.000016.
Binance Bolsters Stablecoin’s Role In Market With $50 Million TrueUSD Minting
Binance, one of the world’s largest cryptocurrency exchanges, has announced that it has minted $50 million worth of TrueUSD, a stablecoin pegged to the US dollar. This decision comes after the New York State Department of Financial Services (NYDFS) halted the issuance of another stablecoin, BUSD, by Paxos, amid regulatory scrutiny.
Created by TrustToken, TrueUSD provides a secure and reliable way for traders to move funds between exchanges and wallets without being exposed to market volatility. Each TrueUSD is backed by a corresponding US dollar held in escrow accounts, which are regularly audited by third-party accounting firms to ensure full collateralization.
This move by Binance, a major player in the industry, is a significant boost for the cryptocurrency market, as it highlights the importance of stablecoins in reducing volatility in the market. Stablecoins like TrueUSD provide a secure way for people to hold cryptocurrencies without being exposed to market fluctuations, which is crucial for increasing mainstream adoption.
Furthermore, Binance’s decision to mint TrueUSD is a testament to the industry’s ability to self-regulate. By demonstrating a commitment to transparency and stability, Binance is setting a new standard for the industry, showing that it is possible to create a safer and more stable crypto market through responsible actions.
Binance CEO Changpeng Zhao (CZ) announced in a Twitter spaces conversation on February 14 that Binance is looking to diversify its stablecoin holdings away from BUSD. CZ also added that the existing circulating supply of BUSD is safe, and as more people want to redeem, they will be burned.
CZ was never too bullish on the success of Binance-branded BUSD and thought that the BUSD project would fail. This announcement could signal a shift in the crypto market, with more players expected to follow Binance’s lead in backing stablecoins.
As the industry continues to mature and evolve, stablecoins like TrueUSD are becoming an essential part of the ecosystem, providing a reliable bridge between traditional finance and the world of cryptocurrencies. This move by Binance is likely to have a significant impact on the cryptocurrency market, with stablecoins taking on an even more prominent role in reducing volatility and increasing mainstream adoption.
Will a Marvel Character Play Sam Bankman-Fried’s Role In the Upcoming Series? Here’s a complete list
Hollywood is attracted to drama, and the FTX crash is one of the most dramatic incidents of 2022 that shook the entire world. Many organizations are vying to get the FTX story to television and movie theaters, which may sound funny. However, if reports are to be believed, some documentaries are already in the making and the biggest names in the film industry are involved.
Anthony and Joe Russo, the renowned duo behind the Avenger movies, are reportedly working on an eight-episode miniseries that will focus on the FTX tale. According to reports, Amazon Studio will back that David Weil-penned project. A CNBC report also suggests that they are trying to get a Marvel character on board.
A book about the former CEO of FTX Sam Bankman-Fried and the collapse of FTX is currently being written by the famous author of works like “The Big Short,” “Moneyball,” and “Flash Boys.” Lewis traveled with and interviewed Sam Bankman-Fried for six months, according to a letter distributed by his agency, CAA. He visited the FTX CEO and spoke with him for “many hours”.
Lewis has been pitching the film and television rights to his book, and according to Creative Artists Agency (CAA) agent Matthew Snyder, a deal with Apple may be on cards.
A documentary titled “SBF and the End of Silicon Valley” is being produced by Vice Media and tech business journal The Information. The documentary, which will draw on reporting from Vice’s Motherboard team and The Information’s crypto and VC teams, will examine FTX’s inexperienced leadership. The renowned New York Times writer Andrew Ross Sorkin, who spoke with SBF after FTX’s collapse, and Panoramic Media are collaborating on a project.
Oscar-nominated filmmaker David Garg is also working on a documentary with studio XTR. This company may be among the first to take on the project. According to a Vanity report, Garg began shooting the movie in the Bahamas as early as November 17, 2022.
Graham Moore, the Oscar-winning author of “The Imitation Game,” will adapt the New York Magazine cover story on FTX’s collapse and will also serve as the film’s director, according to Deadline.
The Toon Finance Protocol And Its Role In The DeFi Space
Toon Finance could surpass Binance
The world of digital assets and currency is progressing at a rapid rate. The blockchain world is getting bigger and bigger, and new technologies and systems are emerging with time. Recently, you might have heard of the Toon Finance Coin and DeFi, as these have become a big part of the virtual currency world.
So, if you want to know more about the Toon Finance Protocol, its future, and its role in the DeFi space, then you are in the right place. Here is everything you must know about it.
What Is DeFi?
Before you participate in anything related to cryptocurrency or digital assets, you need to know what decentralized finance (DeFi) is. In simple terms, it is a financial system that uses a decentralized computer network. Keep in mind that this network will not run through a single network.
Of course, this is a new digital financial infrastructure, and the primary aim of DeFi is to reduce the need to rely on government agencies or central banks to approve all financial transactions. The system is related and connected to blockchain technology.
The idea of DeFi, in a nutshell, is not to let any single entity have control over any financial transactions. DeFi platform is a trustless application, meaning no central party is hosting or controlling the network. It is there for the global community to take advantage of and trade or exchange cryptocurrencies with ease.
Where Can You Find DeFi?
You will find most DeFi platforms on the Ethereum network, which is the second-largest cryptocurrency marketplace in the world. However, another great thing about this network is that it allows other blockchain applications to be built. For example, two or more users can opt for decentralized apps to lend, exchange, trade, and borrow digital assets and tokens using blockchain and smart contracts.
The aim is to avoid any middlemen and reduce costs. The DeFi space is an open, free, and fair financial marketplace for everyone. Of course, this is easier said than done, as it sounds great in theory but might not be as perfect in applicability.
What Is The Use Of DeFi?
Knowing the use of DeFi and what you can do with it is crucial to make the most use of it. As we have established, DeFi makes use of smart contracts and cryptocurrencies to offer financial services without any agency or bank. Many new decentralized applications and platforms are coming in, and the space is growing rapidly.
Here are some of the top uses of DeFi:
- Sending money anywhere you like in the world
- Storing money with a crypto wallet because you can earn a higher yield than through banks
- Borrowing and lending from one peer to another
- Trading any cryptocurrency, you like with anonymity
- Trading tokenized versions of NFTs and financial assets
- And purchasing insurance
These are all the top use cases of the DeFi space. Now that you have some understanding of it, we can move on to understanding this platform in regard to the Toon Finance coin.
What is The Toon Finance Coin?
The Toon Finance coin is a meme coin and token project that went viral as soon as the presale came out. One of the top things about this project is that it is not anything ordinary. Instead, the company is coming out with an NFT project that has already gotten people excited.
You will find the NFT project of Toon Finance on the ERC20 blockchain, and they will have a DEX, which will be similar to pancake swap dex. You will find some great P2E options where you can enter the space and play with other people for different prizes.
Toon Finance Protocol and Defi
Knowing what role the DeFi space will play in the Toon Finance Protocol is important. The company is creating an ecosystem that will push the barriers of decentralization even forward. The project aims to merge various segments of the world of cryptocurrency, which includes NFTs, metaverse, protocols, and more.
When you are using the Toon Finance protocol, you will be able to leverage all the developments that exist in blockchain technology from one place. The best part is that you can take advantage of this without leaving the interface of the Toon Finance Protocol. You can exchange crypto, list and trade NFTs, etc.
An anonymous team is behind this protocol and space. Because of this, the entire project is driven by a community of like-minded people. Anyone that holds a token or uses the space will have an equal say in the voting mechanism of this DeFi space.
Both tokenholders and users can play to earn DEX modules of the Toon Finance project. Keep in mind that you don’t need permission to use any of these modules. There are also no restrictions related to geography or anything else.
That is because the Toon Finance Protocol DEX will not control their users’ coins or keys. Besides that, the team has also created Leaderboards to ensure a competitive spirit between people. The Leaderboard will display the players that make the most profits in real-time through NFT trading.
The Technical Design Of The Toon Finance Protocol
If you want to understand the project in detail, you need to be familiar with its technical design. The technical design of the Toon Finance coin is underpinned by one of the strongest encryption algorithms in crypto, known as SHA-256. Because of this, the Toon Finance Coin and its entire project will be protected from any sort of vulnerability.
The coin is the backbone of its technical and economical design. The top major cryptocurrency tracking platforms have already added Toon Finance to their platforms. The aim of the mechanism and the coin is to create additional value alongside the NFT project of the company.
The design of the system has dual layers that will ensure the comfort of the investors to implement their strategies. You can easily buy the coin with ETH through trusted wallet services. These include TrustWallet, MetaMask, and many others.
You will find the presale button on the official website of Toon Finance in no time. So, if you want to be part of this project and platform, you can opt for it today and reap the results later on.
Future Of Toon Finance With DeFi
Finally, you might be wondering what future Toon Finance has in the DeFi space. When you use the protocol, you will get many benefits through their DeFi platform. Because of this, Toon Finance is here to stay and make its mark in the DeFi space.
Here are some of the top ways Toon Finance will completely change the DeFi space with its platform:
1. Anonymity
One of the top benefits of the Toon Finance Protocol is that it will enable you to remain anonymous when you are trading crypto or trading and listing NFTs. That is because the platform doesn’t have any central authority. Because of this, you will not have to offer personal information to any user, such as your address or name.
If you are someone that requires more privacy while trading digital assets and crypto, then this will be one of the best options for you. You will remain anonymous, and no one will trace the transaction back to you.
2. Cost-Effective
Another benefit of the Toon Finance DeFi protocol is that it is incredibly cost-effective. One of the top reasons for this is that there is no agency or middleman controlling the transaction. Besides that, the server is also decentralized.
Of course, this means that you will not have to pay any additional fees while using the platform or the coin. That is why the Toon Finance coin is here to stay because it will be a cost-effective option for everyone trading.
3. Secure
Finally, safety and security are one of the most important things in the digital realm. Many people have been the target of scams and fraud when it comes to the cryptocurrency market. Of course, this will not be a problem for anyone using the Toon Finance protocol, as it uses DeFi to ensure security and reduce the chances of fraud between people.
In the long run, you will have peace of mind knowing that any crypto or NFT you exchange will be safe. So, be sure to use the platform and protocol at least once to test it out.
Final Thoughts
That is everything you need to know about the future of Toon Finance protocol and its role in the DeFi space. It is one of the biggest projects and an incredibly promising coin for this year. The presale is live, and you can also purchase the coin from the website in no time.
So, if you want to be a part of the future of the DeFi space, then be sure to participate in the project today. It will take your crypto exchange experience to the next level in no time.
Toon Finance Protocol | Telegram | CoinMarketCap | Toon Finance Coin Presale
Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.
Here Is How Amicus Curiae Is Playing Its Role
The month of October has played an important role in Ripple vs SEC. During this month Ripple gained the most awaited victory against Hinman documents as the court ordered SEC to handover the documents. During this timeframe various individuals and organizations have come forward to file Amicus briefs in the ongoing XRP lawsuit.
Just a couple of days back US District court granted permission for XRP Ledger (XRPL) backed company SpendTheBits Inc (STB) to file its Amicus Curiae in the lawsuit.
Ripple To Win In Ripple vs SEC Dispute
On the other hand, prosecutor Jeremy Hogan has explained that Amicus Curiae is also known as a friend of court and it is usually allowed only in top level courts as these courts deal with difficult issues in the country. Now as the court is allowing for as many Amicus Curiae as possible, he asserts that this indicates the case is more complicated. As the verdict will definitely affect a larger group, attorney Hogan believes more Amicus briefs will affect the case positively.
He further stated that as of now the Amicus Briefs that have been filed stands at 78 and many more are requesting to be one of them.
Meanwhile, as Ripple is finding small wins in the case most of the legal experts believe the US Securities and Exchange Commission (SEC) will see its defeat.
As per Oct 30 statement, senior analyst Roslyn Layton informed Forbes that if SEC gets defeated, the agency will see one of the self-inflicted disasters.
It’s just not Layton, even others like Curt Levey of the Federalist Society and Professor J.W Verret of George Mason University’s Scalia School of Law also believe Ripple will gain victory against the SEC.
What Role Will Today’s CPI Data Play In Bitcoin And Altcoin Price ?
The bears have taken control on the overall cryptocurrency market as the global crypto market cap has plunged by 1.50% and is positioned at $909.8 Billion.
This market crash is led by Bitcoin, the first born cryptocurrency where it has lost $19,200 area and is trading at $19,043 with a fall of 0.52% over the last 24hrs. On the other hand, Ethereum is leading the altcoin correction with a drop of 1.10% in the last day and is changing hands at $1,281.
Other altcoins too have fallen prey to this pull back as in the last 24hrs Binance Coin (BNB) has declined by 2.52% while XRP has given up a whooping 6.60%.
The top losers list is led by Cardano as ADA has lost 7.11% over the last 24hrs to trade at $0.365 and it has declined by 15.62% in the last seven days. Solana has been pulled by 3.93% valued at $30.04. Also Polygon MATIc has joined the losers list after the currency had a negative pull off by 6.92% in the last 24hrs.
Even the meme currencies like Dogecoin and Shiba Inu have given up 3.86% and 5.49%, to trade at $0.057 and $0.00000976 respectively.
Crypto Crash On PPI Release
The main reason that is affecting the crypto market revolves around macroeconomic conditions due to the Federal Reserve’s hawkish approach towards financial measures. Yesterday, the Producer Price Index (PPI) data was released which is reading 8.5% Year-on-year. This marking has exceeded the expected one which was at 8.4%. However, the core PPI where food and energy price is not included is flashing 7.2% lesser than the expected marking of 7.3%.
Furthermore, today’s Consumer Price Index (CPI) release is set to impact the crypto market majorly.