1 million Shiba Inu users can’t be wrong… can they?

Shiba Inu (SHIB) has reached an adoption milestone by surpassing the 1 million holders mark — even though the memecoin is trading 50% below its all-time high.  News of the milestone and daily price increase has energized the Shiba Inu community since the official Shiba Inu Twitter account tweeted a shoutout late on Nov. 25. Such a proud, and amazing milestone for the #ShibArmy!$SHIB reaches 1,000,000 holders. Today we all cheer, and celebrate this great moment in SHIB’s history.#1MFRIENDSHIBS #SHIB pic.twitter.com/T1UtMRdQ7r — Shib (@Shibtoken) November 25, 2021 Since the project…

Ethereum bulls likely to profit $130 million on ETH options despite two-week slump

Ether (ETH) investors have no reason to complain after the 344% gains accumulated in 2021 until Nov. 24. Still, analysts fear that the $4,000 resistance test on Nov. 19 is forming a descending channel that aims at $3,600 by mid-December, an 18% correction from the current $4,400 price. Despite outperforming Bitcoin (BTC) by 16% in the past month alone and the ETH/BTC pair climbing to 10-week highs, Ether seems to be struggling with its own success. Ether/USD price on Bitstamp. Source: TradingView Users continue to complain about Ethereum gas fees,…

Bitcoin bulls risk losing $365 million upon Friday’s BTC options expiry

Bitcoin’s (BTC) price action hasn’t been bullish despite the $69,000 all-time high on Nov. 10. Some argue that that descending channel formed 40 days ago is the dominant trend, and $56,000 marks its current resistance. BTC/USD price on FTX. Source: TradingView Such bearishness follows scrutiny from United States regulators, after a Nov. 1 report from the President’s Working Group on Financial Markets suggested that stablecoin issuers in the U.S. should be subject to “appropriate federal oversight,” similar to banks and savings associations. On Nov. 12, the Bitcoin-backed exchange-traded fund (ETF)…

One million ETH worth have been burned since the implementation of EIP-1559 in August

In a Twitter post published Wednesday, blockchain research firm CryptoRank revealed that over 1 million Ether (ETH) worth $4.24 billion had been burned since the introduction of the EIP-1559 protocol in August as part of the London hard fork. The EIP-1559 protocol reformed the Ethereum fee market, modifying the limit for gas fees and introducing a burn feature that takes a portion of transaction fees on the blockchain out of circulation, to be canceled permanently. Notable decentralized applications responsible for token burn contributions include popular nonfungible tokens, or NFTs, platform…

Lobby Lobsters NFT drop raises $4 million in one hour to support DeFi lobbying efforts

Nonfungible tokens (NFT) depicting cartoon lobsters in suits have raised more than $4 million to support lobbying efforts supporting the decentralized finance (DeFi) sector. On August 5, nonfungible token platform and community Universe sold out if its Lobby Lobster NFTs in less than one hour, raising roughly $4 million. Wow Already $4m raised for lobbying efforts in DC. Let’s go Lobby Lobsters community. pic.twitter.com/VeT1XymMoL — Universe.XYZ (@universe_xyz) September 5, 2021 Each NFT was minted for 0.1 Ether (roughly $390), with all of the 1,000 Ether raised through primary sales set…

Judge orders Ripple to hand over 1 million Slack messages to the SEC

U.S. Magistrate Judge Sarah Netburn has ordered Ripple to produce one million missing Slack messages between employees which the Securities and Exchange Commission (SEC) has sought to access.  Despite Ripple’s protestations that complying would cost up to $1 million, the judge deemed the messages critical and unique evidence for the SEC’s ongoing case against the multi-billion dollar company for selling unregistered securities. The SEC filed suit against Ripple Labs and its initial and current CEOs, Christian Larsen and Bradley Garlinghouse for selling XRP as an unregistered security in December 20.…

US defense contractor Simba Chain raises $25 million to boost NFT efforts

The United States-based blockchain startup Simba Chain, which provides technology for several U.S. defense organizations, raised fresh funds to scale the business and tap new opportunities like nonfungible tokens (NFTs). The $25 million Series A funding round was led by Valley Capital Partners with the participation of Notre Dame Pit Road Fund, Elevate Ventures and Stanford Law School Venture Fund, according to an official announcement. Simba Chain would use the new funding to scale several departments within the company and to dedicate resources to emerging trends like NFTs. The company…

VeChain Thor mainnet reaches 10 million blocks milestone with no downtime

Supply chain platform VeChain has reached a milestone in terms of uptime and processed blocks on the VeChain Thor mainnet. The VeChain Foundation posted the achievement on its Twitter feed on Sept. 1, adding that it was “a major milestone that is testament to our public blockchain’s scalability, security, and rock-solid stability.” The VeChain Thor network has now surpassed 10 million blocks and was currently processing block number 10,004,141 at the time of writing. Comparatively, Bitcoin has recorded a 99.98% uptime since January 2009 according to this tracker. The Foundation…

Cream Finance Loses $25 Million To A Flash Loan Attack

PeckShield reported through a tweet of the new hack on Cream Finance. The blockchain security company said a flash loan attack on the decentralized finance lending and borrowing protocol. #FlashLoanAlert https://t.co/JPW7e368qd — PeckShield Inc. (@peckshield) August 30, 2021 PeckShield explained that the hacking came through a 500 Ethereum flash loan from the attacker. This was used to infiltrate a reentrancy bug in the smart contract of the Flex Network. Usually, flash loans being undercollateralized can be borrowed and repaid within a single transaction. Related Reading | Cryptocurrency Firms In Switzerland…

Record $900 million month for NFT sales as CryptoPunks go stratospheric

August is shaping up to be a record month for nonfungible token sales with almost $900 million spent on them over the past 30 days. According to data from the tracking portal Nonfungible, $896 million has been spent on NFTs over the past 30 days. The number is very likely to exceed $900 million by the end of the month marking a new record for the burgeoning industry. The number is more than triple the previous best month for NFT sales in May when $255 million were sold. August has…