Crypto Headlines for Nov 8, 2021

  1. Catecoin Climbs to 10 Most Mentioned Cryptocurrency Coins on Twitter | Cat-Themed Coin to Replace Dog-Themed Coins? 

Catecoin is reportedly a cat-themed coin that has finally climbed to the top 10 most mentioned cryptocurrency coins on Twitter. The Twitter account CryptoRank Platform shared the top 10 coins that were mentioned on Twitter throughout the first week of November. Although Bitcoin still remains the top mentioned cryptocurrency on Twitter, an unexpected coin called Catecoin snuck into the tenth place. CATE, or Catecoin, is a cat-themed coin meant to compete with DOGE and SHIBA. As per the official Catecoin website, the coin was compared in terms of supply, staking, hold and earn, and usage.

While each currency has its own competing qualities, analysts at financial services firm JP Morgan have asserted that investors would be better off holding Ethereum rather than Bitcoin at a time when interest rates are on the rise. The rivalry between the top two cryptocurrencies, Bitcoin and Ether, has been messy and long drawn out. And this has presented an omnipresent dilemma for potential investors. In a recently released report, a team of JPMorgan analysts, led by market strategist Nikolaos Panigirtzoglou, noted that the higher interest rates could prove to be detrimental to the “digital gold” Bitcoin, just as they do for traditional gold. 

As layer 2 solutions aggregator built on top of Ethereum, Polygon has made some great achievements since its birth, its POS chain has over 2000 DApps live and processes over 7 million transactions daily. In fact, Polygon now has more daily active users than Ethereum. Recently, LBank Exchange held an AMA session with the Polygon team, discussing Polygon’s achievements, collaborations, NFT and Gaming markets, Nightfall solution, future plans and so on. Here’s the summary of this AMA. The team will be bringing many more such games and NFT projects onto Polygon so that its community can enjoy more artwork and fun.

Solana has joined Cardano in the league of “Ethereum killers”. What this term means is that Solana could eventually overtake Ethereum and replace it altogether. Ethereum is the second-largest cryptocurrency in market cap. It has made a name for itself in the crypto circles thanks to its numerous functionalities, which go beyond the conventional cryptos utilities. But these functionalities are not confined to the Ethereum network. Solana has the same utilities. In fact, it enables developers to create Dapps and smart contracts at a faster rate and cheaper cost.

Lavinia Osbourne runs a platform called Women in blockchain talks (WiBT), which was launched in 2019. WiBT has launched an inclusivity and diversity campaign to attract 50,000 women into blockchain by 2023. The objective is to invite women who aren’t already in the crypto industry The main objectives of WiBT are to amplify the voices of women in the space, promote diversity and inclusivity, provide education, and provide opportunities for event networking. CryptoChicks is a non-profit educational organization based in Canada founded by Natalia Ameline and Elena Sinelnikova that offers mentorship in blockchain for women globally.

The Werewolf ecosystem is powered by Werewolf Coin (WWC), a utility token that also helps in ensuring a fair and decentralized governance model. The initial WWC token holders will reap the mystical advantages of the token as the ecosystem continues to evolve and adapt. The WWC token offers several features, such as staking pools, predetermined price, and instant liquidity. Being a scalable ecosystem, the Werewolf Ecosystem consists of several features such as decentralized exchange, decentralized asset-marketplace, finance gaming, Wallet, Pay, etc.

Federal Deputy Luizão Goulart, a Brazilian congressman, proposed a bill to legalize crypto payments as a mode of payment for public and private sector workers. The bill highlights the evolution of finance — from a barter system and fiat currencies to Bitcoin (BTC) — focusing on the decentralization aspect which removes the reliance on “a single person or a central entity.” Goulart’s proposal seeks a new law that allows all Brazilian workers to have an option to request employers for remuneration in cryptocurrencies.

 PolkaBridge, a coming of age multi chain suite for DeFi and NFT services is all set to make its debut on the Harmony blockchain after receiving a $50,000 funding grant for blockchain integration and development after its proposal was approved by the community. Polka Bridge allows users to swap tokens on the Polkadot platform and users can also make passive income by adding liquidity, lending and farming. Polkabridge won the prestigious harmony grant unanimously as confirmed by the sources that there was no opposition to the development grant from the team or the community.

Two-time NBA champion Kevin Durant has formed a special purpose acquisition company (SPAC) to explore opportunities and form partnerships with tech-driven firms, including ventures in the cryptocurrency spa. According to a filing by the U.S. Securities and Exchange Commission, the new SPAC, to be dubbed “Infinite Acquisition Corp,” which was founded on Wednesday, intends to secure $200 million in its initial public offering. The SEC filing includes a brief overview of the crypto sector, including names like Kraken and Coinbase, lending and interest savings solutions like BlockFi, hardware wallet maker Ledger, and successful NFT-related businesses like Dapper Labs (the creator of NBA Top Shot), and ethereum-based play to earn game, Axie Infinity.

  1. A Gen Z crypto millionaire says ether could overtake bitcoin as the No 1 crypto before mid-2022 – and could ‘power the rails’ of global finance 

Rahul Rai, a 24-year-old hedge fund founder, believes ether could overtake bitcoin in the next six or so months. Crypto hedge fund manager Rahul Rai believes the market will see ether overtake bitcoin in terms of market capitalization before the middle of next year, in what experts call “the flippening”. The ethereum network now has around $100 billion total value locked onto it, according to The Block data. Yet ethereum is still very much second to bitcoin in terms of market value.