Day: December 5, 2023

Is AI a safe bet for retirement investment?

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Pension funds are in a perpetual crisis worldwide, with low demographic rates in many countries foreshadowing a dim future for such investments, combined with young people’s lack of faith in the continued existence of social security models. In order to stay afloat, many pension funds have strived to remain apprised of new investment opportunities, including cryptocurrencies. According to a 2022 study published by the CFA Institute, “94% of state and government-sponsored pension funds are invested in one or more cryptocurrencies.” But pension fund interest in volatile cryptocurrencies has not come…

Shiba Inu Burn Rate Surges With Over 8 Billion SHIB Burned, Here’s The Trigger

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The Shiba Inu community burn initiative may have just set a new record with the number of tokens burned in the last 24 hours. The community will undoubtedly be brimming with optimism as to the promising future of the meme coin and its ecosystem.  Over 8 Billion Shiba Inu Burned In The Last 24 Hours According to data from the burn tracking website Shibburn, over 8 billion Shiba Inu tokens have been burned in the last 24 hours. As a result of this record, the burn rate jumped by 7424294.41%. Interestingly,…

Shiba Inu Set To Establish A New Era For Shibarium Burns

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Popular blockchain project Shiba Inu has revealed a new era of token burns for its Ethereum-based layer 2 blockchain solution, Shibarium. Shiba Inu Unveils Latest Burning Mechanism On Monday, December 4, Shiba Inu announced a fresh set of burning techniques to increase the ecosystem token’s value. According to the announcement, the team described the new mechanism as a “transformative” move, crucial for the network’s economic model.  The purpose of this technique is to intentionally reduce the token supply in order to increase the value of SHIB and its ecosystem. The…

Regulators Not Afraid to Take Action Against Crypto Rule Breakers, NYDFS Chief Adrienne Harris Says

“Well, there isn’t actually anything illegitimate about crypto. It is just a technology. It is a way to keep records. Rather than in a centralized entity, they have a shared ledger, so there is nothing illegitimate about it,” Peter Kerstens, an adviser at the European Commission, said during the same panel. “You can do an awful lot of illegitimate things with that technology, and we’ll try to moderate and regulate for that.” Source

U.S. Crypto Lobby Spent $19M Through Q3 This Year

As in 2022, crypto exchange Coinbase (COIN) is the biggest spender, with $2.16 million. Crypto.com owner Foris DAX, Binance and the crypto trade group the Blockchain Association are other big spenders. None of the organizations immediately responded to CoinDesk’s request for comment. Source

Kenyan crypto tax bill makes it through parliamentary committee

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A bill defining crypto assets as securities and imposing capital gains tax on them has made it through a Kenyan parliamentary committee. It will be introduced to the lower chamber of parliament next. According to the Kenyan newspaper Business Daily on Dec. 4, the Capital Markets (Amendment) Bill, 2023, has been approved by the National Assembly’s Finance and National Planning Committee. The report cites the Chairman of the Committee, Kimani Kuria: “This is a very critical law that will guard our country against proceeds of crime and terrorism financing. Cryptocurrencies…

XRP Price Set To Skyrocket 1,100% On This Signal: Crypto Analyst

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In crypto trading, history often repeats itself, or at least rhymes. That’s why it can be crucial to spot historically important price signals and patterns. A recent technical analysis by Egrag Crypto has spotlighted such a pattern for XRP, indicating a possible massive price increase. This analysis hinges on the observation of a bullish crossover between the 21 Exponential Moving Average (21 EMA) and the 55 Moving Average (55 MA) in the 2-week chart of XRP/USD. Egrag states, “XRP Rockets: 21 EMA & 55 MA Signal Explosion: Let’s decode the…

Open Interest in Bitcoin Perpetual Futures Hits New Yearly Record on Deribit Exchange 

The Deribit exchange has recorded a new yearly high for Bitcoin perpetual futures open interest, a record not seen since BTC’s ATH. The amount of open interest in Bitcoin perpetual futures on the Deribit derivatives exchange has hit a new high of $740 million. This impressive level was last seen in November 2021 when Bitcoin hit its $68,000 all-time high. As of this writing, open interest in Bitcoin perpetual futures has fallen to $717 million. A rise in open interest in Bitcoin perpetual futures suggests an increase in funds entering…