Crypto Headlines Nov 11, 2021


According to coinmarketcap, currently, Ethereumis valued at US$4795.02, with an increase of 1.43% in the last 24 hours. Ethereum prices have hit as high as US$4831.58 in the early hours of the market on November 9, 2021. Experts believe that there are several reasons why the price of ether is rising at such great speed. . With its increased application, there has been an increased number of developers for ether. Its network acts as an incentive for developers looking to develop and run applications on its web. This makes it appealing for several developers looking forward to investing in ether’s growth and boosting its market value. 

In a response to a tweet about Discord and NFTs, Discord CEO Jason Citron shared a screenshot of what appears to be a Discord beta feature offering integrated access to cryptocurrency wallets, MetaMask and WalletConnect. These wallets both allow users to access Ethereum, one of the largest forms of cryptocurrency. Many subscribers have been frustrated by the lack of a feedback system to convey to the company their negative feelings about NFTs. Some were upset enough to unsubscribe from Discord’s premium service.

Many have either heard of or have some understanding of Bitcoin – the first example of blockchain technology. But Bitcoin, and all cryptocurrencies, are just a small (but significant) part of blockchain technology as a whole.Bitcoin is a decentralized digital currency. It can, and does, work like any other currency (the dollar, pound and so on) – but you can’t print or hold it. Instead, you keep it in a digital wallet. On the other hand, blockchain is a decentralized ledger – meaning data is stored on ‘nodes’ across the protocol, rather than a centralized server. Transactions are captured in blocks that are linked together.

Coinbase, the U.S’s largest cryptocurrency exchange, reported $1.24 billion in revenue for the third quarter that ended September 30, falling short of the $1.57 billion forecast by analysts and the $2 billion recorded in the second quarter of 2021. Coinbase users traded less amid the dip in the price of cryptocurrencies this summer. In its letter to shareholders on Tuesday, Coinbase blamed the disappointing results on “softer crypto market conditions, driven by low volatility and declining crypto asset prices,” which resulted in fewer users and lower trading volumes and transaction fees.

The most recent CryptoPunk to receive a large bid is Punk 635. According to Larva Labs, the NFT was first claimed on June 23, 2017 by User 0xc352b5. In mid-May 2020, Punk 635 saw a bid of 115 ETH, which is equivalent to $23,741 USD. For the latter half of 2020, the bidding was quite quiet until early January 2021 when another user placed a bid of 180 ETH ($237,469 USD), almost ten times the worth of what was six months prior. It is important to note that the owner is currently not listing the NFT for sale. Despite that fact, the Punk has now received a bid of 2.3K ETH, worth approximately $10.86 million USD.

Chingari, the Indian TikTok clone that started in 2018, raised close to $20 million from about 5,000 investors, selling its cryptocurrency token GARI over four days from November 2 to 5. Chingari was founded by Sumit Ghosh, Biswatma Nayak and Deepak Salvi in 2018, amid the TikTok boom in the country. The ban on TikTok two years later gave the company a much-needed fillip as downloads exploded from 5.7 million before the ban in June 2020 to 23.6 million a year later. Moneycontrol spoke to the company and experts to decode what this move means for Chingari, if the hype is worth it, and the claims are justified.

Fintech firm Ripple has announced a new service aimed at finance companies that will allow them to offer cryptocurrency trading to customers. The fintech firm wants to let its enterprise clients have access to cryptocurrencies through a new service called Liquidity Hub. The company plans to expand its crypto asset offerings and include other tokens, including nonfungible tokens, or NFTs, in the future. Liquidity Hub will initially support Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH) and XRP with availability varying by geographical location, according to the announcement.

NFT trends are growing nowadays. In general, NFTs can be purchased using ETH or any other crypto, which then can be converted into USD using other crypto exchanges. Be one of the 1,000 cryptocurrency users who can choose, buy and adopt from the first generation of 8888 Happy Hippos assembled at the  platform. Be whitelisted by signing up and creating an account on Your Happy Hippo NFT can only be found on any connected address, or wallet that was used for the purchase of the Happy Hippos through 

Solana was larger than Cardano which is a similar, but less popular “Ethereum killer,” or competitive alternative to Ethereum. Solana was briefly the fourth-largest cryptocurrency with a market capitalization that got as high as around $78 billion. This put SOL just behind Binance Coin in the list of the largest cryptos. In addition, Solana is now neck and neck with and slightly larger than Tether (USDT-USD), a U.S. dollar stablecoin. This stablecoin tries to stay close to one U.S. dollar in terms of its price. Tether has a market value of $71.9 billion. Its market value increases as more Tether coins are purchased. 

  1.   Loopring price: Why the value of LRC crypto is rising amid GameStop NFT rumours and how it works 

The Ethereum-based token is now valued at around $3.70, having been worth less than $1 a week ago. A lesser-known cryptocurrency called Loopring has been booming in November, and has climbed by more than 66 per cent in 24 hours. Loopring says it “builds protocols, infrastructure, and user-facing products for the future of finance”. The Loopring token (LRC) is the native token of the Loopring protocol, and can be used to pay fees on Loopring L2.

It prides itself on its Ethereum layer two (L2) platform, which is says runs at very high speeds – settling up to 2,025 trades per second – while remaining secure.