Shiba Inu’s (SHIB) creators have announced via a blog post about their upcoming Metaverse project called ‘SHIB: The Metaverse’. The price of these metaverse virtual lands will be between Ethereum (ETH) 0.2 to ETH 1.
The global crypto market cap decreased by 1.54 per cent to $2.16 trillion at 8.50 am. However, the global crypto volume was up by 18.23 per cent to $132.87 billion, as per Coinmarketcap data.
“Bitcoin has retracted by nearly 6 per cent, currently trading at $44,682.95. Ether has fallen below $3,300. Following the market leaders, the market is in the red. With Bitcoin’s overbought signals are declining, support around $43,000 is expected,” says Gaurav Dahake, CEO and founder, Bitbns.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $44,481.21, lower by 5.76 per cent in the last 24 hours.
Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, was also trading lower by 4.88 per cent at $3,235.06.
Among other major coins, Cardano (ADA) was down by 7.12 per cent at $1.11, Algorand (ALGO) by 5.45 per cent at $0.895, Binance Coin (BNB) by 6.39 per cent at $416.80, Solana (SOL) by 2.13 per cent at $118.98, and Polkadot (DOT) was also trading lower by 8.28 per cent at $20.82.
Today’s top gainer was Digital Fitness (DEFIT), which was up by 222.61 per cent at $0.2374. The top loser was MARBLEX (MBX), which was down by 33.13 per cent at $35.55.
Dogecoin (DOGE) was down by 7.48 per cent at $0.1339. Its volume to market cap ratio stands at 0.06641. Rival Shiba Inu (SHIB) crashed by 10.38 per cent to $0.00002493.
Dogelon Mars (ELON) was trading with a loss of 13.72 per cent at $0.0000009218, Floki Inu (FLOKI) lost 10.53 per cent at $0.00003337 and Samoyed Coin (SAMO) fell 6.43 per cent at $0.02114.
In the DeFi segment, YFI (yearn.finance) was trading with a loss of 8.48 per cent at $21,914.31, Terra (LUNA) was down by 7.08 per cent at $99.27, Avalanche (AVAX) fell 8.54 per cent to $91.13, Uniswap (UNI) by 11.63 per cent at $11.05, and Aave (AAVE) lost 2.88 per cent to $215.99.
In a blog post, Shiba Inu’s developers announced that 1,00,595 virtual metaverse lands would be up for sale initially, and they will be priced in Ethereum and not SHIB. “As we will use the collected funds to pay for the Metaverse development, the team has decided to use a neutral coin that can be sold into stablecoins in order to pay all the sources. However, using our Ecosystem Tokens is a risk, as we would need to dump our own tokens price cashing them! And that's far away from our plans,” read the blog post.
Michael Hsu, acting comptroller of the Office of the Comptroller of the Currency (OCC), US, warned the banks that are currently dealing with crypto derivative products that they may face increased regulatory scrutiny. “Several large banks are exploring making markets for clients in Bitcoin futures, with an eye towards forward trading contracts and other derivatives. However, before banks move too much farther down this path, they should carefully consider the tail risks of trading crypto derivatives," said Michael Hsu in a virtual speech during an American Bankers Association conference, reported Coindesk.
