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Shiba Inu Team Eyes Major Update For Shiboshis On Shibarium
The Shiba Inu community has once again taken the broader crypto industry by storm, revealing plans for a major update on Monday. Notably, the meme coin’s team is preparing a strategic upgrade for Shiboshis on Shibarium, as revealed by the coin’s marketing lead recently. Meanwhile, crypto market enthusiasts speculate over SHIB price action ahead in light of recent ecosystem developments.
Shiba Inu Exec Shares ‘Shiboshis Strategic Update’
In an X post by Shiba Inu marketing lead Lucie on October 28, the exec outlined plans for upgrading the Ethereum-based NFTs within the SHIB ecosystem. According to Lucie’s post, “Big things are on the way for Shiboshis on Shibarium.” This statement has sparked considerable optimism surrounding the meme coin among market participants across the globe.
Moreover, the marketing lead specifically rolled out upcoming advancements for Shiboshis, NFTs on SHIB’s layer 2 blockchain. These new features include enhanced utility, exclusive events and rewards, and a more zeroed-in approach to making the NFT a key part of the SHIB ecosystem’s future. Aligning with this endeavor, the NFTs remain poised to gain new features and roles, special events and rewards, thereby marking a monumental stride in the industry.
Further, Lucie also pointed out that the team will focus on lowering gas fees and bridge gradually on the network. Also, “Shiboshi holders are sharing their best tips on how to bridge for as little as $2,” per the SHIB marketing lead.
SHIB Price To Gain Ahead?
Simultaneously, Shiba Inu traded in the red territory today, raising investor speculations on future movements in light of recent developments. SHIB price traded at $0.00001687 at the time of reporting, down roughly 1% in the past 24 hours. The crypto’s intraday low and high were 0.00001683 and $0.00001732, respectively. Today’s waning action aligns with the broader trend in the meme coins sector.
However, crypto market participants remain bullish on the coin’s long-term prospects, primarily attributable to advancements such as the ones mentioned above. Apart from upcoming upgrades for Shiboshis on Shibarium, the meme coin has witnessed a notable reduction in supply, primarily due to a massive surge in the SHIB burn rate. This surge in burn has added a bullish tint to the coin’s future. Additionally, a remarkable growth in Shibarium activity has further added to optimism on SHIB’s future price movements.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Matt Hougan, the Chief Investment Officer (CIO) of American asset management firm Bitwise, has reacted to the news of the Czech Republic’s strategic Bitcoin reserve plans. Having predicted earlier that nation states adoption of Bitcoin will soar this year, Hougan noted that “the dominos start to fall.”
Czech Republic Bitcoin Plans
In a CNN Prima News interview, Aleš Michl, the Governor of the Czech National Bank, revealed they are weighing how to diversify the country’s reserves with Bitcoin. However, he added that there are no active strategies in place to make this move yet.
While Michl said he favors the onboarding of Bitcoin as an asset diversifier for the Czech Republic, he said this decision is not solely his to make. He said there are seven members on the board whose say might also sway the ongoing discussion. Despite the lack of concrete plans, the Governor acknowledged that;
“Bitcoin is an interesting option for diversification against other assets.”
On his part, the Czech Republic National Bank executive said he plans to add just a few Bitcoin units with no plans to make a significant investment. This plan to make Bitcoin a strategic reserve asset aligns with the growing conversations in different nations. While Japan rejected the BTC reserve idea, different states in Switzerland continued to explore the plans.
MicroStrategy bought 258,320 BTC in 2024, and with this, the focus on the top coin has grown over the past few months. While corporate firms are looking to borrow the MicroStrategy playbook, Matt Hougan predicted that governments will firm one of the three insatiable demand sources for Bitcoin this year.
The three sources of insatiable demand in 2025: Companies, ETFs, and Governments. https://t.co/vatSG6wxgF
— Matt Hougan (@Matt_Hougan) January 6, 2025
The Wait on Donald Trump Administration
The Czech Republic is considering adopting Bitcoin as a strategic asset, marking a major advancement in the idea that started with Donald Trump. During his Presidential election campaign, Trump promised to establish a strategic Bitcoin reserve in the United States. The crypto community is now very expectant following his victory.
On his part, the President-elect is convening a crypto advisory council that will help look into the BTC strategy. Many industry leaders are in support of the plan, highlighting how it can help the country solve its growing debt challenge.
However, the economic viability and longer-term impact on the US Dollar remain a concern that might derail the plans overall. In light of this, Peter Schiff proposed USACoin as an alternative to the BTC reserve plans, as reported earlier by Coingape.
Bitcoin As Biggest Beneficiary
Amid the growing conversations around the adoption of Bitcoin, the coin has a major prospect of continuing to grow. Notably, the top five Bitcoin price predictions for 2025 peg the coin at a range of $200,000 to $500,000, hingeing on its status as a reserve in most nations’ portfolios.
Currently, the coin is down by 4.45% in 24 hours to $97,173.39. The coin dropped from a high of $102,712.48 as investors cooled off from the latest rally.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Bitcoin’s exponential growth in 2024 brought all the attention to this digital asset. Interestingly, BTC’s achievement led Tim Draper to compare it to the popular streaming site Netflix, a pioneer in the multi-media industry. He presented a metaphorical connection between the two, depicting why Bitcoin is the next Netflix. Let’s explore Draper’s reasoning behind the comparison between the two and what it means for the potential of the crypto industry.
The Netflix Disruption
Netflix has become the mainstream media platform, beating its competitors by a large margin and attaining a $380 billion valuation. Interestingly, the same company was on the brink of bankruptcy in 2010 and was just a CD rental business before. However, it rose and developed from a movie retail business to an online blockbuster media and entertainment platform. Some even call it a real-life example of technological disruption or Netflix disruption, as it changed how people consume media.
Somewhere, there is a big similarity between the rental industry and the TradeFi industry, which is also getting left behind with digital assets, especially Bitcoin, the new mode of payments based on decentralization. The way Netflix left behind its competitors, which failed to rise with new technology and trends, BTC is likely to do the same with third-party controlled, slow, and expensive traditional transactions.
Its growth, where one Bitcoin is priced at $101.5k per coin with a market cap of nearly $2 T, reveals its high adoption rate. This is especially true as the soon-to-be 47th US president, Donald Trump, promised to make the US the crypto capital involving BTC. Based on this, the famous venture capitalist Tim Draper presented a Bitcoin vs. Netflix analysis, drawing a parallelism between Netflix and Bitcoin’s growth.
Tim Draper Bitcoin Prediction on Why BTC Could Be the ‘Next Netflix’
Tim Draper presents a very interesting key point, hinting at Bitcoin’s dominance among traditional financial systems like Netflix in the media. With the growing adoption of this digital asset and tech giants like Elon Musk, Michael Saylor, Robert Kiyosaki, and many others seeing Bitcoin as the future, much more dominance could be seen.
“Next Netflix vs. blockbuster moments to come is the Bitcoin vs Banks,” outlines Draper, boldly asserting that Bitcoin’s trajectory mirrors Netflix’s disruption.
Although Tim Draper’s Bitcoin Vs. Netflix post did not clearly explain, but his few words were enough to conclude the parallelism between these two. Both, Netflix and Bitcoin are disruptive technologies, grabbing global adoption and mainstream acceptance. More importantly, BTC has already set its foot strong in the financial market, but there is much more to come. Analysts’ Bitcoin price prediction sees it achieving $225k in 2025 alone and much more in the upcoming years.
Michael Saylor and many other industry leaders believe that Bitcoin is the US debt’s solution and that this digital asset would disrupt traditional banking institutions. This belief could become more prominent with Donald Trump’s presidency.
Eventually, all this would make Bitcoin the pioneer of the financial industry. More importantly, as Tim Draper sees, BTC is the next Netflix for the TradeFi and banking sectors. However, this is not new Bitcoin news. Draper’s months-old Bitcoin price prediction that this asset per token will hit $3M evaluations describes his ideology, as he believes BTC is the currency of the future.
Conclusion
Tim Draper provided more than just a catchy analogy by calling Bitcoin the next Netflix of the financial sector. Netflix shaped the future of the media and entertainment industry, and BTC would shape the future of the financial industry with its exponential growth, global adoption, and overcoming the TradeFI, which is slow, complicated, and controlled by institutions and government. Draper’s analysis of Bitcoin Vs. Netflix depicts the future of financial freedom and a tech-driven financial system, where one token could grab a price of $3M, far away from any asset’s value.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Rostin Behnam, the Chair of the US CFTC, has announced to step down from his post effective January 20, 2025. Interestingly, that is when Donald Trump is scheduled to take over the US Presidential office once his inauguration concludes. While Rostin has not mentioned any specific reason behind stepping down from the post, speculations soar over a change in the horizon.
US CFTC Chair Rostin Behnam To Step Down On January 20
The US CFTC Chair Rostin Behnam is reportedly stepping down from his position on January 20. According to a Reuters report, Behnam is scheduled to exit on the same date as Trump’s inauguration. Interestingly, the US SEC Chair Gary Gensler has also announced his departure on the same date.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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