- Bitcoin and the larger crypto market have remained stable in spite of widespread rumors surrounding Binance.
- The Shiba Inu community was disappointed with the failed launch of Shibarium on Valentine’s but Cardano was handed a massive win on the same day.
The crypto community is split over the movement of the crypto market after a disappointing couple of weeks. For market leader Bitcoin, the oldest digital asset has been trading in the $22,000 and $24,000 range. After an initial burst at the start of the year, the recent tight trading range suggests another break out is inevitable but a bullish or bearish direction remains anyone’s guess. The rest of the market is keenly following the leader with recent months and years showing they generally follow the set trend.
CNF Brief takes a look at the latest developments around key projects- Bitcoin, Shiba Inu, Cardano, VeChain, and Binance.
Bitcoin whales make a comeback
Analysts often advise investors to follow the smart money. Part of this is whales who hold the power to break or make an investment. In the crypto market, recent data has shown that whales are making a comeback and accumulating heavily. For retail investors, this is a sign that Bitcoin is on or headed for a bullish path.
Given the growing interest and the accumulation, analysts have tipped this to be a consolidation phase with a breakout upward to follow.
William Noble, director of research at Emerging Assets Group has recently predicted a surge to $56,000 marking a nearly 100 percent increase. Galaxy Digital Holdings CEO Mike Novogratz expects Bitcoin to surpass $30,000 in the first quarter a key psychological position…Read More
Binance $400M FUD
Binance was once again refuting claims of any illegal activity within the centralized exchange. In the latest accusation, Reuters has accused Binance of funneling over $400 million in three months in 2021 from California-based Silvergate Bank to Merit Peak Ltd through its subsidiary Binance US.
Reuters could not establish the reason behind the transfers and whether the money belonged to customers. Around that time, its public terms of use indicated that customers’ deposits were held in Silvergate and a Nevada-based custodian firm called Prime Trust LLC.
Binance has quickly responded with Binance.US spokesperson, Kimberly Soward, refusing to give answers concerning the transfers but stating that Reuters used outdated information in its report…Read More
Cardano valentine’s upgrade a success
The Cardano community celebrated a successive upgrade to the Cardano mainnet on 14th February. Cardano’s Valentine upgrade is designed to power interoperability to boost network growth as confirmed by Input Output HK (IOHK), the blockchain development in charge of the Cardano protocol. IOHK noted there’s a growing number of Decentralized Applications (DApps) on Cardano which need to be siloed into one big ecosystem. The Valentine Upgrade will bring about that possibility.
The upgrade had a momentary price surge. In the last 7 days, Cardano’s native token ADA has surged by more than 10 percent. In the long term and as Cardano continues to build, investors expect the digital asset to continue growing…Read More
Shiba Inu’s Shibarium launch delayed
While the Cardano community celebrated a key upgrade, the Shiba Inu community was served a disappointment in the last week. After yet another postponement earlier this week, Shibarium supporters are collectively expressing disappointment towards the continuous postponement of the release date.
According to lead developer Shytoshi Kusama, the much-awaited Shibarium layer 2 scaling solution is to be expected before May.
May be May be We’ll see when the Devs align
It’s not one – It’s three + unification #Shibarium when it’s ready pic.twitter.com/m8CxTuPRzH— 𝐋𝐮𝐜𝐢𝐞 (@LucieSHIB) February 13, 2023
Shibarium is being built to help increase the transaction speed on the Shiba Inu network. With the introduction of Shibarium, the cost of transactions on the network will reduce as well…Read More
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VeChain offers sustainability with ‘plant-based path to carbon reduction’
Reports earlier this week indicated that VeChain may play a prominent role in fighting climate change in the switch to plant-based meat products. The protocol is being posited to help champion the transition from animal-based meat products to plant-based products.
As a blockchain service, companies looking to pivot into plant-based meat processing can utilize the VeChain protocol for their data storage and subsequent sustainability tracking. The technology can also be utilized in boosting up the supply chain of this multi-billion dollar industry to help provide the needed efficiency for growth…Read More
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