NFT SUMMER

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NFT Summer Fest'22

Shiba Inu Set for 2022 Move as Nine Companies Join SHIB Burn Pledge

The SHIB Burn Pledge collaborates with nine companies that agree to burn a defined proportion of earnings; sales, or a monetary amount to the official SHIB burn wallet.

Shiba Inu’s price stabilised in the same way as before to the October 2021 bullish run; now trading at $0.00003266 at press time.

To remove the SHIBA INU token from circulation, it is burned and delivered to a useless wallet address. The address, known as a burn address, is inaccessible and cannot be allocated to anybody. The SHIB tokens are lost forever once they are transferred to a burn address. As a result, supply will be reduced, making tokens rarer. Scarcity can cause price increases, benefiting investors.

Shiba Inu has refused to join a sideways trend following its remarkable surge to all-time highs of $0.0000889. Shiba Inu gained 30% after the Kraken market confirmed its IPO in late November 2022.

The Bigger Entertainment, Shiba Coffee Company, The Vibe Maquillage, Marklien, Precious Paws Save The F**king Trees, THE SHIBETTES | 1/1 NFTs, and Shiba Search are among the 9 companies who have promised to support the SHIB burn.

Many Banks Are Starting to Provide Cryptocurrency Trading Services in Response To The Digital Asset Boom

After years on the sidelines, prominent banks are now venturing into the realm of digital assets.

The Commonwealth Bank of Australia (CBA); the country’s largest bank, has announced that it will be the first to enable clients to purchase, trade, and retain crypto assets.

A test program delivering cryptocurrency straight to consumers via the bank’s main app is ready to begin. It’s part of a new collaboration between Gemini, a cryptocurrency exchange, and Chainalysis, a blockchain analytics business.

Meanwhile, a group of German savings banks is developing a trading network that would allow 50 million users to purchase and sell Bitcoin (BTC), Ethereum (ETH); and other cryptocurrency assets.

Furthermore, BBVA’s Swiss subsidiary now provides its customers with digital accounts to trade BTC and ETH.

In the United States, financial behemoths such as Bank of New York Mellon and Fidelity provide crypto services to the vast institutional clientele.

Mainstream banks in the United States continue to be the slowest to bring crypto assets to retail customers – but this may change this year.

According to a recent Reuters article; the Federal Deposit Insurance Corporation (FDIC), a prominent US regulator, looks at how banks might handle crypto assets.

According to FDIC Chair Jelena McWilliams; a committee of regulators is working to draft a set of principles that would allow American banks to support cryptocurrency assets.

2021 Was The Year Bitcoin Reached The Mainstream

Despite significant progress made by Bitcoin, its developers, and die-hard users over the previous 12 years; 2021 was the year Bitcoin truly reached the mainstream. 

The most significant event that reinforced Bitcoin’s staying strength and vast sums as an asset was, of course; El Salvador’s adoption of Bitcoin as legal cash, ultimately adopting the digital asset as their own.

No one anticipated an entire country to embrace Bitcoin with wide arms; let alone accept it as legal cash, establish a specialized mobile wallet that the majority of their population use; or invest in their bitcoin reserve when 2021 began.

China’s Bitcoin mining restriction may have momentarily lowered Bitcoin’s value but also guaranteed that miner concentration was more evenly distributed than previously. Last year, MicroStrategy launched a series of events in which corporations such as Tesla, Block, and others publicly held Bitcoin. 

Although China’s Bitcoin mining exodus momentarily lowered Bitcoin’s value, it ensured that miner concentration was more evenly distributed than previously; with nations like Kazakhstan, Russia, the U.S. experiencing an increase in Bitcoin mining activities within their borders. 

Of course, this poured money into previously ignored cities and counties; resulting in certain beneficial restrictions being enacted to assure that miners did not relocate again. 

The introduction of Bitcoin in El Salvador prompted organizations and politicians based on the old currency system, ranging from the International Monetary Fund to the Bank of England; to spread disinformation far and wide. 

Of course, this is correct; whereas fiat currencies were designed to lose value over time, Bitcoin was designed to store and grow in value over time.

Through A New Partnership, Samsung Will Get Exposure to Cardano

According to a tweet made by the Cardano Foundation’s Sidney Vollmer, tech giant Samsung will now have exposure to Cardano due to its recent agreement with blockchain plantation management system Veritree.

The South Korean conglomerate’s American affiliate intends to combat climate change by planting two million mangrove trees in Madagascar; an East African island country.

Mangrove forests are thought to store more than ten times the amount of carbon dioxide as other tropical forests.

The collaboration was revealed during the annual Consumer Electronics Show (CES) in Las Vegas.

According to Mark Newton, head of corporate sustainability at Samsung Electronics America; investing in innovative technology is “essential” in combating climate change:

Investing in tech innovations, such as those that create efficiency improvements and minimize waste, in combination with nature-based solutions, are vital in the fight against climate change.

According to Walt, Cardano and Ethereum Entered The NFT Realm  And Are Making Progress

When banks and financial institutions declared that Bitcoin and other cryptocurrencies “are heading to zero” and are “worthless,” the situation has changed dramatically in the last few years.

Multiple ETFs entered the crypto sector in 2021; including the first Bitcoin futures-based ETF certified by the SEC in the US.

According to Bloomberg’s market analyst Eddie van der Walt, 2021 was a watershed moment for cryptocurrencies, with crypto becoming a permanent “part of the financial furniture.”

Walt believes that cryptocurrencies will define “what they signify, what they are; and what we will do with them” in 2022, implying a definite utility.

Walt specifically referenced Cardano and Ethereum, adding that they “have taken on the NFT space and have moved the narrative a little bit forward in terms of what we are gonna do with cryptocurrencies”.

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