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NFT Summer Fest'22

Blockchain and cryptocurrency are two of the world’s hot topics that are gaining attention all the time. Whether for investment or enjoyment, it is undeniable that an increasing number of individuals are becoming interested in cryptocurrencies. We’ll walk you through some of the top 5 crypto news stories to read in this post.

Shiba Inu Reaches A New Milestone With 70,000 More Holders

Despite uncertain performance in the Bitcoin market, the Shiba Inu Coin network is still growing, with over 70,000 more holders joining since exceeding one million a little more than a month ago.

The present number of holders is a crucial foundational milestone for the coin, which recently went through a complex spell, shedding about 70% of its previously obtained value.

The growing number of users may not immediately impact the Shiba Inu Coin Price. Still, the number of holders is a significant driver of the asset’s future from natural growth.

With the increased number of holders on the network for projects like Ethereum and Solana, any future initiatives built on its blockchain are more likely to gain monetary backing from the community.

Elektra, A Mexican Retail Giant, And Nexon, A Video Game Developer, Now Accept Bitcoin as a Payment Method

Elektra, a Mexican retail chain, has become the country’s first to accept Bitcoin as payment. Customers that pay for their purchases with BTC are eligible for a 20% bill reduction. 

Elektra, founded in 1950, has over 1100 outlets throughout Mexico. It includes the US, Guatemala, Honduras, Peru, Panama, and El Salvador. Interestingly, Elektra’s owner is Ricardo Salinas Pliego, a Bitcoin bull who has frequently expressed his support for the digital currency industry.

He recommended investors enter the Bitcoin ecosystem as soon as possible a few weeks ago. According to Salinas Pliego, Mexico’s third-richest person, the principal cryptocurrency is “the new digital gold.”

LUNA and MANA Are Leading The Altcoin Recovery

With the cryptocurrency market’s ongoing downturn, altcoins are frequently the primary victims of significant sell-offs. Still, they may also give the highest return during the recovery period, led by tokens such as Luna and MANA.

During the cryptocurrency market’s downturn, Luna successfully defended its position as one of the top market leaders, earning more than 75% of its value in the previous month and almost 40% in the last five days.

The asset is trading close to the ATH at press time, but it has yet to break through historical resistance. Luna has already achieved the December 4 maximum twice but has yet to place the plank higher than it was before.

Despite being in a significant downturn, the Decentraland token led the cryptocurrency rebound surge alongside other tokens. Previously, Mana stated that it is being accepted by big retailers such as GameStop through Flexa.

Terra Is Now The World’s Second-Largest DeFi Platform

According to Defi Llama statistics, Terra has surpassed Binance Smart Chain as the second-largest smart contract platform ( Just Behind Ethereum ) in terms of total value locked; having reached $16.6 billion.

Terra’s TVL has increased by 19.46% in the last 24 hours, putting it ahead of the competition.

With $7.14 billion in value secured, Anchor; a savings protocol that permits obtaining low-volatile returns by depositing the UST algorithmic stablecoin; is the most popular protocol on the Terra network.

Protocol for liquid staking Lido and Terraswap, a decentralized exchange, came in second and third positions. Astroport, which automatically creates markets, is also a multibillion-dollar protocol.

Solana and Avalanche, two other prominent smart contracts platforms; are behind Terra and Binance Smart Chain in TVL, with $11.92 billion and $11.84 billion, respectively.

A Massive Dogecoin Whale Moves $973,010,200 In Cryptocurrency In A Single Transaction, Paying Only $0.76 In Fees.

According to new statistics, a Dogecoin (DOGE) whale recently traded roughly $1 billion in cryptocurrency despite paying less than a dollar in transaction costs.

The deep-pocketed crypto investor transferred 97.301 crore INR in DOGE to two different wallets in a single transaction, according to Dogecoin blockchain explorer DogeChain.

The first wallet received 80 million DOGE worth $13.78 million. A second wallet was given 5.3 billion DOGE worth $913.09 million.

The 5.3 billion DOGE transfer had a status of “not yet redeemed” at the time of writing, suggesting that the transaction is not yet complete.

According to BitInfoCharts, the crypto whale who launched the enormous transfer had the second-largest Dogecoin wallet in existence before the transaction.

The outbound transaction relegated the enormous wallet to the 48th-largest Dogecoin address; where it currently owns over 236 million DOGE worth around $40.8 million. The crypto investor owns 0.1785 percent of the total DOGE supply.

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