Although both Binance Coin (BNB) and Shiba Inu (SHIB) boast unique features and use cases, their trajectories have been remarkably eventful, filled with price hikes and groundbreaking news that have captivated investors and enthusiasts alike.
In this article we delve into the news surrounding Binance Coin and Shiba Inu, exploring the factors behind their price fluctuations and the significant news that has influenced their trajectories.
Prices and market statistics of Binance Coin and Shiba Inu
Shiba Inu (SHIB)
At the time of writing this article, the price of the
cryptocurrency Shiba Inu (SHIB) stands at $0.00000926 per unit.
Over the past 7 days, the price of SHIBA INU has seen a significant increase of 10.78%, signaling interesting growth in the market.
The market capitalization of the cryptocurrency amounts to $5.5 billion, while the trading volume of the past 24 hours reaches $304.0 million, demonstrating investors’ continued interest in this digital asset.
Currently, there are 589.3 billion SHIB in circulation, and the average holding time of the cryptocurrency is 222 days.
Despite its price fluctuations, Shiba Inu ranked as the 12th most popular cryptocurrency, highlighting its growing relevance in the crypto ecosystem.SHIB’s all-time high was $0.000032, an important figure for those who closely follow market trends.
With a positive price change of 10.78% over the past 7 days, investors and cryptocurrency enthusiasts are eagerly awaiting further developments for this ever-evolving coin.
Binance Coin (BNB)
The price of the cryptocurrency Binance Coin (BNB) stands at $243.84 per unit.Over the past 7 days, the price of BNB has slightly increased by 0.18%, showing a stable market pace.
The market capitalization of Binance Coin has reached the amount of $37.5 billion, while the trading volume of the last 24 hours amounts to $376.6 million, reflecting a steady interest from investors in this digital currency.
There are currently 153.9 million BNB in circulation, which helps strengthen its position in the cryptocurrency landscape.BNB’s all-time high was $690.93, a significant level that could be a benchmark for investors and analysts closely following the coin’s price.
With a modest 0.18% growth over the past week, Binance Coin is showing signs of resilience and continues to generate interest in the cryptocurrency market.
Binance Coin prepares for mainnet upgrade
BNB Chain, the native blockchain of Binance Coin (BNB), is preparing for a significant mainnet upgrade in August, with the goal of addressing the declining metrics observed in recent months.
Despite the difficulties, BNB managed to accomplish a remarkable feat, surpassing
Ripple (XRP) to become the fourth largest cryptocurrency by market capitalization.
The data revealed a decline in the amount of gas on BNB Smart Chain, indicative of less activity on the blockchain.
As a result, the acquired value of the platform has also been trending downward, reflected in plummeting fees and revenues.In addition, the DeFi space on the BNB Chain has seen troubling developments, with declines in total value locked (TVL), active addresses, and transactions.
BNB’s hope on new updates
However, there is hope on the horizon: BNB Chain has announced its next mainnet update, version 1.2.9 for the BSC mainnet.
Scheduled for 10 August, the first update will introduce the Plato and Hertz
hard forks, while the second is scheduled for 30 August 2023.
This update is expected to make improvements to the blockchain’s gas metering system, impose restrictions on contract distribution, introduce a new EVM opcode, and implement new transaction types, following the guidelines of BEP 225 and BEP 230 under the Berlin update.
As the development of the upgrade progressed, BNB bulls entered the market, contributing to a marginal increase in the value of the coin.
Binance Coin surpasses Ripple
This momentum allowed BNB to surpass XRP and reclaim its position as the fourth largest cryptocurrency in terms of market capitalization.The increase in BNB’s social volume and improved sentiment around the coin further strengthened its position, while the green funding rate reflects the high demand in the futures market.
However, the relative strength index (RSI) moved sideways at the neutral level, while the Chaikin Money Flow (CMF) remained bearish with a slight decline.
With the mainnet upgrade on the horizon and positive market developments, BNB is showing resilience in the face of challenges.
Investors and users are anxiously awaiting the impact of the upcoming update on blockchain performance and metrics.The update’s ability to address declining gas quantity and other concerns in the DeFi space could potentially rejuvenate interest in and usage of the BNB blockchain.
As the blockchain landscape continues to evolve, BNB is positioning itself for further growth and importance within the cryptocurrency market.
Rivalry for top ranking positions is fierce, but BNB has demonstrated its determination to compete and succeed.
The upcoming mainnet update could be a turning point for BNB Chain, elevating it to new heights and reaffirming its importance in the ever-expanding world of cryptocurrencies.
Investors and enthusiasts are closely watching developments as BNB aims to reclaim its place at the forefront of the digital financial revolution.
Shytoshi Kusama, leader of Shiba Inu, routs scammers amid enthusiasm for Summer of Shibarium campaign
Shiba Inu, the cryptocurrency inspired by a meme, is causing a stir in the cryptocurrency community with its highly anticipated “Summer of Shibarium” campaign.
As excitement grows for the release of new tokens and the launch of the project’s Layer 2 blockchain, Shibarium, lead developer
Shytoshi Kusama has been actively fighting the wave of misinformation and scams targeting investors of the coin.
Recently, a Twitter post claimed that two new tokens, TREAT and SHI, would be launched as part of the “Summer of Shibarium” campaign.However, Kusama was quick to deny this information, dismissing it as a scam and warning the community to remain vigilant.
Unfortunately, this incident is just one of many scams that have surfaced during the preparation of the “Summer of Shibarium” campaign.
The hype surrounding the strategic initiative has increased market interest in SHIB and related tokens, creating an ideal environment for scammers to exploit unsuspecting investors.
The “Summer of Shibarium” campaign promises a series of exciting releases, leading up to the highly anticipated launch of the Shibarium Layer 2 blockchain in August.
Although the legitimate excitement is well founded, Kusama stresses the need for caution and investor education in the face of fraudulent activity.
In response to growing concerns, the Shibarmy Scam Alerts Twitter account has been actively warning the community about fake support accounts and suspicious links circulating in the crypto space.Kusama, as a constant advocate of vigilance, urges investors to thoroughly scrutinize all sources of information before making any decisions.
Excitement and caution, the right balance for investing in meme coins
As the launch of Shibarium approaches, it is critical that Shiba Inu enthusiasts and investors strike a balance between excitement and caution.
The cryptocurrency space is full of opportunities, but also risks, so it is essential to remain alert and discerning.
Market participants should be wary of promises that seem too good to be true, as scams can take many forms, including the issuance of fake tokens, phishing attempts, and Ponzi schemes.Using official channels and verifying information from reliable sources can significantly reduce the risk of falling victim to scams.
Kusama’s commitment to protecting the Shiba Inu community from scams is a testament to the importance of promoting a secure and transparent cryptographic environment.With the Summer of Shibarium campaign on the horizon, the community must join efforts to stay informed and support each other..
