Binance Adds Shiba Inu
Binance, the world’s largest crypto exchange platform by volume, has announced its support for the memecoin Shiba Inu (SHIB) as a collateral asset for one of its loan programs. According to a company statement, Binance is adding SHIB, along with a handful of other altcoins, as collateral to its flexible loan program. This move by Binance is likely to increase the popularity and usage of SHIB among crypto traders and investors.
Shiba Inu is a decentralized cryptocurrency that was created in August 2020 as a joke and a tribute to the Dogecoin (DOGE) meme. It features a Shiba Inu dog as its logo and mascot. SHIB claims to be an experiment in decentralized spontaneous community building and has a total supply of one quadrillion tokens. SHIB has gained a lot of attention and support from celebrities such as Elon Musk and Vitalik Buterin, the co-founder of Ethereum.
Bitcoin Miners HODL
Bitcoin’s weak performance in recent times may have led to a hoarding mentality among miners. According to AMBCrypto, miners might dump a significant portion of their holdings in the next bull run. This could potentially lead to a further decrease in the value of Bitcoin. However, it is important to note that the cryptocurrency market is highly volatile and predicting its future movements can be challenging.
Bitcoin miners are the people who use specialized hardware and software to verify and process transactions on the Bitcoin network. They are rewarded with newly minted bitcoins and transaction fees for their work. Miners play a crucial role in securing the network and maintaining its decentralization. However, miners also have an influence on the supply and demand of bitcoins, as they can choose to sell or hold their rewards.
Elon Musk Dispels X Token Rumors
Elon Musk, the CEO of Tesla and SpaceX, has ruled out the possibility of an X/Twitter crypto token and insisted that he has no intention of launching one. The comments came after the TwitterDAO coin experienced a pump and dump on Saturday. Twitter has never endorsed the coin. Musk’s comments have put an end to rumors about a potential collaboration between Twitter and X for the launch of a new crypto token.
X is a mysterious project that claims to be building a decentralized social media platform powered by blockchain technology. The project has been teasing its followers with cryptic messages and hints about its vision and roadmap. However, many people have expressed doubts and skepticism about the legitimacy and credibility of X, as it has not revealed its team, partners, or investors. Some have even speculated that X is a scam or a hoax.
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