Russia has officially entered into the crypto ring as news broke that the largest bank within the Russian Federation, Sberbank, has created a blockchain exchange-traded fund (ETF) tracking some of the biggest players in the blockchain industry. The fund, which is named Sberbank – Blockchain Economy, will reportedly trade on the Russian stock market under the ticker symbol SBBE and is the first such product to become available in Russia, giving locals the freedom to enter into the digital asset market without having to purchase, store, or sell tokens.
Solana (SOL) has experienced a dramatic reduction in valuation over the past month. After reaching a high of $243.56, SOL is now struggling to stay above the major support level of $170 and the bears are currently in firm control yet again after a false breakout.
NYDIG, a subsidiary of Stone Ridge and emerging crypto leader, just completed a massive $1 billion funding round that has raised the company’s total valuation to just over $7 billion.
With the fallout from the Squid Game Token still fresh on investors’ minds, there are signs that the very same scammers are back to work with another heist this time targeting the meme sensation Shiba Inu.
Cryptocurrencies have been in a downward trend over the past week led by Bitcoin’s drop to a low of $45,000 from all-time highs and BTC wasn’t alone. Everything from Ethereum to Polkadot saw steep drops in valuation and have been fighting to recover lost ground over the past several days. As the larger cryptocurrencies continued to face selling pressure, one altcoin, Tezos, has bucked the trend and has been stringing together gains, popping as much as 25% during a twenty-four hour period.
The most recent crypto flash crash that took place three days ago wiped out more than a fifth of Bitcoin’s value and caused over $2 billion worth of positions to be liquidated ended up being nothing more than a feeding party for whales as they gobbled up more than $3.3 billion worth of Bitcoin during the dip.
Decentraland and its native token MANA are well positioned to take advantage of the growth in blockchain-powered games inhabiting the metaverse and has been one of the most in-demand cryptocurrencies in 2021.
Jordan Belfort, the real-life Wolf of Wall Street and convicted felon who plead guilty to charges of fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam, is a blockchain fan but sees many of the meme crypto coins as nothing but scams, calling and the creators to face jail time while pointing the dangers of the cryptocurrency industry.
Shiba Inu (SHIB), the meme-coin phenom inspired by man’s best friend, is blasting off Tuesday morning with gains topping 30% as Newegg Commerce Inc., the online retail behemoth, and Kraken officially announced that they will start to accept Shiba Inu on their platforms.
Cardano has been at the center of both rabid praise and mass criticism since its release in September of 2017. The digital token separates itself from the crowd with its rapidly advancing technology, its unique multi-layer architecture, and by using mathematical principles in its consensus mechanism. Yet claims of difficulty for programmers, especially in launching decentralized applications (dApps) on the Cardano ecosystem, have continued to bog down one of the more promising cryptocurrencies available.