SHIBA Inu coin was up in the early hours of Thursday as Bitcoin fell after fears of a “crash”.
Shibu Inu is a cryptocurrency token that allows users to hold trillions of them. Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.
As of 8am ET on Thursday morning, it was slightly up in early trading. Bitcoin, however, was down under $65,000 at 8am ET, according to CoinBase.
The price fluctuations came as conflicting reports on whether Chinese property giant Evergrande had “defaulted” on its loan surfaced.
Some speculated the Chinese giant had missed its loan payments, however, Bloomberg reported it paid delayed interest on at least two loans to avoid a default.
Read our cryptocurrency live blog for the latest news and updates…
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WHAT IS AN NFT MARKETPLACE?
An NFT is a non-fungible token.
Non-fungible tokens, in contrast to bitcoin, are each unique and cannot be replaced by something else.
The majority of NFTs exist within the Ethereum blockchain. Ethereum is a cryptocurrency that has the ability to support NFTs.
NFTs can be anything digital, and are commonly being used as a way to buy and sell digital art.
An NFT marketplace is used to list NFTs and ensure they are accessible for trading.
Marketplaces allow users to promote their NFTs, where buyers can browse through and bid on what they would like to purchase.
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RUMORS CIRCULATE ABOUT GAMESTOP’S NFT MARKETPLACE
Over the last few weeks, rumors have been gaining traction on the internet that GameStop is partnering up with Loopring to launch an NFT marketplace.
The price of Loopring has risen over 400 per cent since the initial rumors began to spread.
Typically valued for less than one dollar, Loopring prices are now over $3 a share.
While no official announcement by either of the companies in question has been made in regards to a partnership, social media is full of users waiting for the statement.
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WHAT TO DO IF YOU’RE WORRIED ABOUT THE ROBINHOOD BREACH
If you’re a Robinhood user, you should definitely be changing your password and make sure it’s a unique one.
Users should also turn on two-factor authentication if they haven’t already done so.
This makes it so anyone accessing your account will also have to provide a one-time code even if they have your email and password.
You should also look out for an email from Robinhood as the company is reaching out to people affected.
It’s unclear if the company will reach out to everyone but it’s important to remain vigilant.
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WHAT IS THE ROBINHOOD DATA BREACH?
Users are being warned after a security breach at Robinhood has leaked sensitive information.
The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.
The data affected by the leak includes email addresses for about 5 million users. The full names of 2 million users were also leaked.
However, about 310 users suffered a more serious breach, including the release of their names, birthdays, and zip codes.
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EXPERTS PREDICT POLYGON’S GROWTH
How the price of Ethereum will change in the future is impossible to know for certain.
However, experts and investors have made some predictions.
Charlie Barton, an investment specialist at comparison site Finder, warned in mid-May: “The performance of Polygon has been extremely strong recently, achieving 10,000% growth in the last year.”
“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”
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WHAT IS POLYGON?
Polygon is an Ethereum token that powers the Polygon Network, which aims to provide faster transactions on the Ethereum blockchain.
It was originally known as the Matic Network when it first launched back in 2017.
Polygon hit its highest ever level on May 18 when it rocketed to $2.4544.
The price has soared by around 9,200% this year – up from $0.01781 on January 1.
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US IS WORKING TO FIGHT CRYPTO-CENTERED CYBERCRIME
A recent statement from President Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.”
“That’s why my administration is marshaling a whole-of-nation effort to confront cyber threats.”
The White House signaled that the US will gather 30 other countries to discuss responses to cybercrime.
“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” it read.
