Crypto Headlines Nov 19, 2021

  1.  Better Cryptocurrency: Ethereum or Shiba Inu? 

Shiba Inu has the hottest momentum of any token with a strong online community of fans. Ethereum is the second-biggest cryptocurrency based on market cap with a wide variety of uses. Ethereum (CRYPTO:ETH) and Shiba Inu (CRYPTO:SHIB) are two of the most popular cryptocurrencies on the planet. Both have been big winners so far this year. The popularity of Ethereum has soared since its launch in July 2015. Along the way, it’s become the blockchain of choice for developing decentralized finance (DeFi) apps. Shiba Inu has become a worldwide sensation since its release in August 2020. It’s now the No. 11 biggest cryptocurrency with a market cap of close to $27 billion.

Some of the Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) knockoffs are seeing strong gains as of Wednesday night after Dogecoin rose and Shiba Inu fell. Among the other knockoff coins, Shiba Lite (CRYPTO: SHIBLITE) has surged 423.4% during the past 24 hours to $0.00000006588 and FarmerDoge (CRYPTO: CROP) has risen 93.6% to $0.007812. GenshinShibInu describes itself as an artificial intelligence (AI) rebase and reward token on the Binance Smart Chain (BSC) network that rewards holders with the Shiba Inu token. The coin said on its website that it now has more than 10,000 token holders.

Bitcoin and ether, the two largest cryptocurrencies by market capitalization, were afterthoughts on Wednesday as a handful of alternative coins turned heads in digital-asset markets. Avalanche, a smart-contracts blockchain set up to compete against Ethereum, was another winner as its AVAX token surged to a record high after a new partnership with accounting giant Deloitte was announced. Crypto analysts said the network has benefited from more than $600 million in incentives and development fund awards announced in the past few months. An accelerated response by the Fed to withdraw monetary stimulus might curb bitcoin’s appeal as an inflation hedge while also crimping the momentum for high-risk, high-return assets.

One Cambridge University study suggested global bitcoin mining consumes more electricity each year than the entire country of Argentina. During the early NFT boom in spring and summer 2021, when NFT sales of multi-million-dollar artworks and collectible products added up to a trading volume of billions of dollars, headlines were more likely to call into question the climate-unfriendly backbone of the decentralized trading ecosystem than the artistic or cultural value of the works themselves. Zero Contact, a new movie starring Anthony Hopkins, which is set for release next month as an NFT, or non-fungible token, with zero carbon footprint.

“Most, but not all, cryptocurrencies and all NFTs [non-fungible tokens] have scarcity as a key component of their value proposition,” said Michael Terpin, founder and CEO of the blockchain public relations firm Transform Group. Bitcoin’s supply is capped at 21 million coins. (There are currently between 18 and 19 million bitcoin in circulation.) The remaining amount of bitcoin will reportedly take over 100 years to mint. “Bitcoin’s fixed-supply scarcity is most highly valued because it is coupled with accelerating demand, proven use cases and recognized desirability,” Terpin told CoinDesk.

CYIOS Corp: (OTC PINK: CYIO), a publicly traded holding company with subsidiary business focused on crypto-lending, crypto-trading and NFT’s is pleased to announce it has closed the acquisition of NFT platform company Randombly. Mr. John O’Shea, Chairman of Cyios Corp commented, “We are very pleased to have closed the acquisition of Randombly. The Randombly platform offers unique features and the ability to mint a wide range of digital art and collectibles into NFT’s, including images, audio, 3D art, videos, crates, bundles and more.

Newegg has decided to curse on Black Friday with its newest promotion, which offers a 20% discount when you pay with cryptocurrency through BitPay in the UK, Australia, the UAE, and other countries. To take part in the promotion, you need to use BitPay, a crypto wallet app that includes currencies like Dogecoin, Bitcoin, and Ethereum. Newegg proudly announced its support of BitPay way back in 2019, and now it’s incentivizing its use for this year’s deals-heavy Black Friday season. The deal is not available in the US, but it is in the UK, Australia, Israel, Kuwait, Saudi Arabia, and the UAE.

MetaMask now has around 21 million monthly active users which is an increase of 38 times from 2020 figures. The crypto wallet interacts with an ecosystem of approximately 3,700 unique Web3 applications, it added. In an announcement on Nov 17, ConsenSys, the firm that develops MetaMask, revealed some milestone figures for the world’s most popular Ethereum wallet. MetaMask’s swap feature has enabled more than $10 billion USD in peer-to-peer token swapping but has been criticized for high fees. The wallet uses a dynamic service fee that ranges between 0.3% and 0.875% per transaction, adding gas fees to that can make transactions on layer 1 Ethereum expensive. 

VentiSwap, a non-custodial cross-chain decentralized cryptocurrency exchange, announces the upcoming launch of its phase two cross-chain NFT marketplace, VentiNFT, soon to launch in Q1 2022. With VentiSwap, users can swap between Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB), Cardano (ADA), TRON (TRX), Solana (SOL), VentiSwap (VST) and Tether (USDT) with other blockchains to be added in the near future, using one platform and one manually initiated transaction. VentiNFT will be the first-ever cross-chain marketplace offering users the ability to buy, sell, swap and mint NFTs on all blockchain supported by the VentiNFT Marketplace.

  1. Enjin Coin (ENJ): Price Update, Recent Developments, Future Events, Community 

Enjin’s roots can be traced back to 2009 to the gaming industry. Since its first game in the traditional gaming industry, Enjin has evolved, incorporating blockchain in the process. Now, it has over 20 million registered users. Enjin has promised that Efinity will be decentralized, faster, and offer cheaper rates than other ecosystems. Enjin Coin (ENJ), the native asset of Enjin, has joined 11 tokens trading on OSL. Since Facebook’s corporate rebrand to Meta, the price of Enjin Coin (ENJ) has seen a significant rise. The price of ENJ peaked at $3.62 on November 7, despite trading below $2 before Facebook’s announcement. Enjin believes the metaverse should be decentralized. Hence, the game developers will be building the Efinity Metaverse.