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Shiba Inu Burn Rate Spike Not Enough to Celebrate

Thursday. August 22 at 4:30 PM

1 min. read

The Shiba Inu burn rate has experienced a significant increase in the past 24 hours, indicating a shift in SHIB burning trends. Despite this spike, the actual amount of coins burned is not very substantial. Data from Shibburn reveals a 1,088% rise in the burn rate due to a single transaction, resulting in the burning of 98,136 SHIB tokens. However, when considering the current SHIB price, only $1.34 worth of tokens were burned in a day. The overall burn rate has declined by 94.4% compared to the previous week, with only 22 burn transactions occurring in a 7-day period. Efforts to sustain the burn rate, such as automated burns on the Shibarium network, have not been successful due to network performance issues. Despite community initiatives like a petition to Binance for SHIB token burns, the impact remains limited with minimal signatures garnered.

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Token Unlock Impact on Market Dynamics

Sunday. September 15 at 5:30 PM

Token unlock refers to the release of previously restricted tokens based on fundraising terms. Projects strategically plan these releases to avoid market pressure and price drops. However, factors like low liquidity or early investor selling can significantly influence an asset's behavior. Next week, major token unlocks to monitor include Arbitrum, ApeCoin, and Space ID. Arbitrum, a popular Layer-2 solution for Ethereum, will unlock over 90 billion ARB tokens. ApeCoin, the native token of Yuga Labs' Ape ecosystem, will release over 15 million tokens. Space ID, a decentralized identity protocol, will unlock nearly 80 million ID tokens. Additionally, other projects like Echelon Prime, Pixel, Lista DAO, and Astar Network will have significant unlocks. While token unlocks are often viewed as bearish, a well-planned schedule can actually benefit a project's long-term success by motivating the team, engaging the community, and driving ecosystem growth.

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SEC Expands Lawsuit Against Binance

Saturday. September 14 at 4:00 AM

The US Securities and Exchange Commission has broadened its lawsuit against Binance by including more tokens as securities. The updated legal filings now mention tokens like Axie Infinity Shards (AXS), Filecoin (FIL), ATOM, SAND, and MANA as securities. This move is part of the SEC's ongoing efforts to regulate the crypto industry and classify digital assets as securities. The regulator accuses Binance and its US affiliate of facilitating the trade of unregistered securities and promoting these tokens to customers. The SEC also reiterates that Binance operated illegally as an unregistered exchange, broker-dealer, and clearing agency. The lawsuit has drawn criticism, with the SEC facing scrutiny for its contradictory statements. The chief legal officers at Ripple and Coinbase have questioned the SEC's actions, highlighting inconsistencies in its approach to crypto asset regulation.

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The Demise of Celebrity Meme Coins

Friday. September 13 at 10:30 PM

A celebrity-endorsed meme coin, promoted by Neymar Jr and Roger Waters, failed to gain traction, resulting in a meager market cap of $19,000 and minimal liquidity. The token, AB, was shared by high-profile Twitter accounts in what seemed like a coordinated hack. Despite reaching millions of users, the coin's value plummeted, leading to criticism from experts. This incident reflects a broader trend of celebrity meme coins facing skepticism from investors, following previous instances of similar tokens crashing after initial hype. The failure of this particular coin, along with past scams involving celebrities like Caitlyn Jenner and Metallica, signals a shift in investor sentiment towards such projects. Analysts suggest that the era of celebrity-backed meme coins may be coming to an end, as traders become more cautious in light of recent high-profile failures.

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Evolution of 3D Animation Technologies and Web3 Collaboration

Friday. September 13 at 10:00 PM

Animation studios are embracing Web3 to engage audiences through digital assets. Locus, a 3D animation studio, has partnered with MEW on the Solana blockchain to create a 3D animation series. This collaboration aims to expand MEW's reach beyond the crypto space and enhance its global recognition. Sujin Hwang, from Locus, discusses how advancements in 3D animation technologies have revolutionized content production. Real-time rendering and AI tools have improved visual effects and character animations, making storytelling more immersive. The collaboration with MEW introduces its characters through animation, merchandise, and digital assets, aiming to attract new fans and generate revenue. Web3 offers transparent business models and global market access, providing new revenue streams for studios like Locus. By creating Web3-native IPs, such as MEW, studios can engage fans actively and foster a sense of ownership, driving community growth and revenue opportunities.

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