Bitcoin Kicks In The New Year With A Boom, Outperforming The Stock Market And Gold For The Third Day In A Row
Even if cryptocurrencies are now falling in value, it is critical to avoid losing sight of the forest for the trees. In terms of growth over the previous decade, Bitcoin kicks in the new year with a boom; outperforming gold and the stock market (S&P 500).
Furthermore, digital currencies such as Bitcoin remain the new kid on the block despite being present for more than a decade. As a result; the asset class has a lot to show in traditional finance circles; although the previous decade has been nothing short of extraordinary.
Arcane Analysis, a blockchain data research organization, examined this in its final report for 2021. Not only that but also made projections for the Bitcoin and cryptocurrency markets in 2022.
There is, indeed, an obvious winner here. For the third year in a row, Bitcoin outperformed both the stock market and gold. Bitcoin is up 73% this year, while the S&P 500 is up 28%. The biggest surprise is that gold, the classic inflation hedge, is down 7%.
In the inflationary atmosphere of 2021, both Bitcoin and the S&P 500 did admirably. Gold, on the other hand, could not compete in this climate.
Will Bitcoin maintain its dominance? Arcane expects Bitcoin will maintain its current success in the coming year.
The Dogecoin Foundation Reveals A Roadmap for Implementing DOGE Staking
The non-profit group responsible for creating the meme-based cryptocurrency Dogecoin has announced a collaboration with Ethereum co-founder Vitalik Buterin to develop a staking mechanism for $DOGE.
The Dogecoin Foundation revealed its Dogecoin Trailmap on Thursday, which is a “dog-walk” that the Dogecoin Foundation is devoted to exploring and feels will contribute to Dogecoin’s growth.
The Foundation is working on a “uniquely Doge proposal” for community staking; which is a variation of the Proof-of-Stake (PoS) mechanism that Ethereum is also adopting.
Dogecoin users will stake their $DOGE to enhance network function in exchange for a small payout under the new system.
“[The PoS version] will allow everyone, not just the big players to participate in a way that rewards them for their contribution to running the network, and at the same time gives back to the whole community through charitable causes.”
Shiba Inu’s 2022 Burn Roadmap Is Now Available
To the delight of Shiba Inu enthusiasts, Shiba Inu’s larger burn plan for 2022 has been announced. Bigger Entertainment, a crypto label dedicated to Shiba Inu’s success and owner of over 1 billion SHIB; has indicated that SHIB burning would not be discontinued.
The entertainment company revealed its massive 2022 plan, including monthly burn projects.
According to the roadmap, burn parties are already scheduled from January through April. First, the Shiba Inu community will be treated to the thrill of the Shib Lovers merch promotion from January 14 to February 14. According to the cryptocurrency record label, 80 percent of all SHIB purchases will burn SHIB.
Shib SuperBurn, a one-of-a-kind event for soccer fans, is set to occur from February 7 to 13. In addition to soccer fans, Basketball lovers will have an equal share of pleasures with NFT Madness; which will take place from March 13 to April 4.
Two Major Ethereum Whales Purchase 2 Million MATIC In The Last 24 Hours
According to statistics from a firm that follows the portfolios and crypto activities of the top 1,000 Ethereum holders, crypto whale “Saitama” ranked 263; has purchased 999,999 MATIC tokens worth $2,519,997.
The other purchase was made via an “unknown” wallet having a total balance of $35,221,310 in ERC-20 tokens. The whale spent $2,570,000 to acquire 1,000,000 MATIC. Apart from Ethereum, SAND is the most valuable token in this whale’s wallet in USD value. “Saitama” is ranked second after ETH, with a total value of $69,616,825 in ERC-20 tokens.
Whales among the top 1,000 ETH holders purchased a significant quantity of Polygon tokens earlier this month: 1,899,990 and 1,007,525 MATIC, respectively.
Shiba Inu Adds 100,000 New Owners In Only A Few Weeks After Passing The One Million Mark
(SHIB) Shiba Inu has acquired 100,000 users in this category just weeks after passing the 1 million holder mark. Shiba Inu was selling at $0.0000355, down from $0.0000341 during yesterday’s sell-off.
Shiba Inu’s current overall holder count is at 1,103,173, suggesting an increase in this element, according to data from WhaleStats. In terms of market values, an increase in the number of token holders may not directly influence the token. However, this may be a good indicator from the standpoint of primary growth.
As the Shiba Inu network expands, it seeks improved social engagement with its thronging users.
Shiboshis Social Club, unique to Shiboshi owners, was introduced in late October. The Shiboshi Social Club is a gathering place for the entire pack to hang out and earn special privileges; whereas SHIBOSHIS is a collection of 10,000 non-fungible Shiba Inu tokens (NFTS).
SHIB unveiled the new Shiba Inu Ecosystem Official Communication Portal on December 28, which will serve as the official medium/line of communication for its ecosystem. In a recent tweet, SHIB’s chief developer verifies the current update.
According to CoinMarketCap statistics, SHIB is the 13th biggest cryptocurrency at publishing.
