Key takeaways

• SUI is up 17% in the last 24 hours and is now trading at $1.95.
• The rally comes as Mysten Labs researchers explore privacy features for blockchains, placing Sui alongside Ethereum and Solana in the account-based model.

SUI tops $1.95 after 17% rally

SUI, the native coin of the Sui blockchain, is up 17% in the last 24 hours, making it the best performer among the top 20 cryptocurrencies by market cap. The coin is now trading at $1.95, close to a two-month high, thanks to this rally.

The rally comes following a recent paper by Mysten Labs researchers that explores privacy features for blockchains, placing Sui alongside Ethereum and Solana in the account-based model.

The paper places Sui firmly within the account-based model, alongside Ethereum and Solana. It also looked at how such systems could implement confidential balances, limited anonymity sets, or sender-receiver unlinkability using cryptographic primitives such as homomorphic encryption and zero-knowledge proofs.

In addition to that, on-chain and derivatives data suggest growing market participation. Data obtained from Santiment shows that the Sui ecosystem’s trading volume reached $967.43 million on Tuesday, the highest since early December. This surge suggests that traders are taking an interest in Sui again following the poor performance recorded last month. 

According to DeFiLlama, Sui’s Total Value Locked (TVL) has been steadily rising since the end of December, reaching $1.04 billion on Tuesday.

Furthermore, CoinGlass’s derivatives data shows that SUI futures Open Interest (OI) at exchanges rose to $947.26 million on Tuesday, up from $685 million recorded a week ago.

SUI could surge to the $2.34 level

The SUI/USD 4-hour chart is bullish and efficient as Sui has added 34% to its value in the last seven days. The coin is now trading around $1.95 and could surge higher in the near term. 

If the bullish trend continues, SUI could extend the rally toward the weekly resistance level at $2.34. The momentum indicators currently support further bullish movements. 

The Relative Strength Index (RSI) on the 4-hour chart is 85, above the overbought threshold, indicating strong bullish momentum. 

Furthermore, the Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover and rising green histogram bars above the neutral level.

However, if the market undergoes a correction, 

On the other hand, if SUI corrects, it could extend the decline toward the 50-day EMA at $1.66.

The Cryptocurrency ecosystem is filled with many uncertainties due to its high volatility. However, it does not mean that investors can not be profitable. Specific cryptocurrencies have great utility. Looking out for these cryptocurrencies and purchasing them before an upward price move is brilliant.

If you are interested in holding some significant cryptocurrencies, stick to the end. This piece would reveal three notable cryptocurrencies with the potential to become the next big asset.

Sandbox: Gaming Metaverse Protocol Aiming For The Top

Sandbox (SAND) is a gaming metaverse protocol built on the Ethereum infrastructure. It combines gaming, tokenization, and augmented reality with the leverage of blockchain technology. The protocol was created to help users gain virtual experiences while earning rewards.

The first step to interacting with the Sandbox is with the $LAND token. LAND is a non-fungible token representing a virtual space in the Sandbox protocol. Users can purchase LAND tokens with real-life friends and stay in the same neighborhood. They also have the freedom to decorate their spaces to their taste.

To decorate their spaces, they also need some assets, like plants, building materials, furniture, and many more. These assets are in the form of NFTs and can be created with a Voxel Editor. Thanks to the in-built marketplace, users can either sell the assets they develop or purchase ready-made assets.

NFTs are only a piece of how users can interact with the Sandbox. They also need the utility and native token of Sandbox, $SAND. SAND aids payments for NFTs and other in-game purchases.

The token, SAND, can also be used in the grand blockchain ecosystem. It can be traded against fiat or other cryptocurrencies. It can also be held for long-term returns keeping in mind that SAND grows in value as demand increases for the Sandbox ecosystem.

Shiba Inu: Impressive Meme Ecosystem

Shiba Inu (SHIB) is a decentralized finance meme coin that aims to disrupt the meme category. It is built on the Ethereum blockchain, and it is smart contracts compatible. Shiba Inu can be used for payments, and its ecosystem can be used for core decentralized finance activities.

Shiba Inu was initially created to resemble Dogecoin, albeit with smart contracts functionality. It carries the emblem of the original Shiba Inu dog meme. However, the team behind the Shiba Inu project saw that hype alone could not sustain their project. So, they created use cases for Shiba Inu.

One such use case is decentralized payments. Shiba Inu is working around the clock to partner with top platforms to accept the protocol’s native token, SHIB, as a payment medium. SHB can now be used on platforms on Shopping.io to complete e-commerce transactions. SHIB is also accepted on the NOWPayments point-of-sales.

Other utilities for Shiba Inu include staking, lending, and borrowing. Shiba Inu is also rapidly developing its metaverse platform. It has created the WAGMI temple—with a Zen-like feel—as a relaxing scenery in the metaverse.

All these use cases make Shiba Inu likely to become significant.

Big Eyes Coin: How Its 200% Code Is Firing Up The Community

Big Eyes Coin (BIG) is the freshest kid on the block; however, it has excellent potential. It sets itself from other meme coins by adopting the character of a cat coin, targeting the NFT market, and focusing on the community.

It is building a crypto cathouse. It also plans to build an NFT club where members access exclusive cat-themed NFTs. In addition, it is also contributing significantly to the world at large through charity organizations.

In order to bring the launch ahead, use the code LAUNCHBIGEYES200 to receive a HUGE 200% BONUS bringing our launch closer!

By using the code, you will be getting a 200% bonus on your purchase! To clarify further,  when you purchase 10$ worth of Big Eyes using the code LAUNCHBIGEYES200 it will show as 30$ (200% bonus) on the buy page. If they do not reach an additional 12 million by the end of January, the Big Eyes team will continue the pre-sale as normal.

Enter the Big Eyes Coin (BIG) presale now, and don’t miss a unique opportunity to make profits:

 

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

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Ah, Black Friday. The wonderful time of year with waves and waves of manic, crazed customers snatching and grabbing TV boxes, game consoles and electronics from each other. Fortunately, you don’t have to battle with a massive crowd of people to get huge savings this Black Friday. In this article, I will look at Dogecoin (DOGE), and also a new meme coin on the block with incredible potential and even more incredible savings, Big Eyes (BIG).

Can Dogecoin Be Dethroned?

Dogecoin (DOGE) is the current top dog of the meme coins. It is very similar to Bitcoin (BTC) in that it was the first of its kind and uses the energy-intensive proof-of-work protocol. Elon Musk has been a huge proponent of the coin, repeatedly supporting it on Twitter, sending the prices skyrocketing over 4000% over a year.

Musk’s Twitter acquisition also accelerated the growth of Dogecoin. Just before Musk had sealed the deal and freed the proverbial bird, the price of Dogecoin was around $0.07 on October 27th. By November 1st, the coin’s price had risen to $0.16. Musk’s close affinity with Dogecoin brought the market capitalisation to a hefty $21 billion. The price and market cap have since calmed down, but Musk’s influence over the market is a testament to the meme coin’s strength in people invested in the asset.

With a towering figure like Elon Musk looming over any rival meme coin, many people ask, can Dogecoin be dethroned? Should Dogecoin be wary of new competitors?

Shiba Inu (SHIB) is the other top-ranked meme coin on the market and has been at the tail of Dogecoin since it launched, dubbing itself the ‘Dogecoin killer’. Its angry, scowling dog emblazoned on the token logo creates a stark contrast to Dogecoin’s goofy, happy-go-lucky Shiba Inu. One of Dogecoin’s strengths is the cuteness of its mascot. The cuteness of the worried-looking Shiba Inu was why the meme initially took off in 2010.

If there is going to be a meme coin that topples Dogecoin, it will be a cute one.

Black Friday Bargains – Big Eyes

Big Eyes (BIG) is a new meme coin that recognises that cuteness is a huge part of creating appeal in a meme coin, and realises that “cuteness is currency”. Many people become invested in something if it aligns or resonates with them, and Big Eyes’ adorable anime-inspired cat mascot is a feline that will get many people feeling it.

This Black Friday you can get some serious savings on the next big meme coin project. For 24 hours only, there will be 50% bonus tokens given out for free with any purchase of Big Eyes! All you have to do is use code BLACKFRIDAY50 at checkout.

Final Thoughts

As it is still in pre-sale, you are not going to want to miss out on getting in when the prices are still very low! Big Eyes has massive potential for explosive growth, so don’t be that person that could have gotten Dogecoin-like gains, but didn’t invest. Instead of getting savings on electronics that will only depreciate from the moment you buy them, consider investing in your portfolio to net your future self tremendous gains.

Big Eyes Coin (BIG)

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

 

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

Kim Kardashian has been fined $1.26 million by the SEC for an absolutely shameless promotion of a cryptocurrency scam to her Instagram followers – who number over 250 million.

She has also agreed not to promote any cryptocurrency for the next three years. Shockingly, however, her lawyers played a blinder and she is not required to admit any wrongdoing.

The settlement has really annoyed me, so I’m about to get a rant off my chest.

What happened?

The incident occurred in July 2021, when Kardashian posted the below to her Instagram.

Ethereum Max – definitely not to be confused with Ethereum – is (was?) an obscure cryptocurrency token that spiked up immensely off the back of Kardashian’s post. I am tempted to use the word scam here, but instead I will be kind and I will instead say “worthless”.

I charted the price action of the token since Kardashian’s promotion. They say a picture tells a thousand words, so here you go:

Turns out, the “cryptocurrency” promoted by Kardashian was launched only a month before her post, and she was paid $250,000 to promote it on Instagram.

Within a week of Kardashian’s post, it was down 70%. Within a month, it was down over 90%. It wasn’t long before it essentially went to zero. Sad.

Kim Kardashian is a predator

It makes my stomach turn to read her post even now, eighteen months on. Kardashian exploited her followers for money, and the language used is abhorrent. “Sharing what my friends told me a few minutes ago” – ye, my friends slip me 250 G’s all the time to make posts on Instagram, Kim.

A massive proportion of Kardashian’s followers are underage. An even bigger proportion idolises her. She gave the seal of approval to what had all the looks of a Ponzi scheme – a copy and paste pump-and-dump of the famous Ethereum.

The anonymous founders of the coin took their chance – as was always planned, one suspects – and immediately dumped on the gullible buyers lured in by Kardashian’s advert.

It is impossible to know how many followers lost money off Kardashian’s post. In truth, I don’t want to know, there is plenty of bad news in the world already. What we do know is that of every dollar that each follower put in, that is now close to zero. By January, when the token had fallen 98% since Kardashian’s investors, she was sued.

How much did Kim get fined?

Obviously, what Kim did was incredibly illegal. You can’t pass off a paid advert for a scam as a personal endorsement.

So, the SEC came calling. Unfortunately, Kim is rich and famous and so, like these things tend to go in the US, she got barely a slap on the wrist. She was fined $1.26 million. To me, this is nowhere near the level of punishment that is deserved, given the shamelessness, greed and cold-hearted nature of the exploitative post.

Kardashian is estimated to be worth $1.8 billion, meaning the fine equates to 0.07% of her net worth. Answer me this – multiply your net worth by 0.07%. Is that number enough to persuade you from repeating a crime? In actuality, it is even less – it is really a $1 million fine and a return of the $250,000 she got paid.

Kardashian’s lawyers told CNN that she “is pleased to have resolved this matter with the SEC.” 

“Kardashian fully cooperated with the SEC from the very beginning and she remains willing to do whatever she can to assist the SEC in this matter,” the attorneys added. “She wanted to get this matter behind her to avoid a protracted dispute. The agreement she reached with the SEC allows her to do that so that she can move forward with her many different business pursuits.”

She also has not had to admit any wrongdoing. She does have to resist the temptation to again promote such scams for the next three years, however. How people idolise someone like this is beyond me.

I reached out to Kim last year (screenshot above) off, when the token was down 92%, to get her comments. She has yet to reply. Maybe if she hadn’t ghosted me, she wouldn’t have been sued six months later…

The Kardashian brand is ubiquitous, a powerful Gen Z-fuelled money-making machine. This incident won’t affect things at all and has already been brushed under the carpet. But I really don’t understand; there have been celebrities cancelled for far less than this.

How bad a thing did Queen Kim do?

Make no mistake – this is stealing money from her innocent followers. I could somewhat understand it if she was paid a fortune, but what is $250K to a billionaire like Kim?

In ranting about this in my family WhatsApp group, my (Gen Z) sister leapt to the defence of Kim.

“She is so influential and has achieved more than most people”

“She is such a talented entrepreneur”

“Don’t be so dramatic”

This seems to be the defence of most people. And yeah, I agree – she is rich, influential and outrageously successful. And does she care that a nobody like me is ranting about her on the Internet? No, of course she doesn’t.

But I’m not saying she isn’t successful. That is irrelevant. If anything, it exacerbates how bad her crime is given she knew how impressionable her followers were and how influential she was. A quick $250K cheque was all that was needed for her to farm them all out.

As for being dramatic? Well, yeah – as I type this, that may be a fair point. But the individual stories of people investing in this “cryptocurrency” because Kim lied and said her and her friends were involved in it – only to lose every penny and realise that Kim was in fact paid and had never heard of the cryptocurrency, never mind invested in it – is devastating to read.

I’m willing to bet those people would not feel the same if it was their daughter, their son, their friend who lost chunks of their savings, their college fund, their hard-earned cash because their “idol” lied to them.

The only thing more fraudulent than Ethereum Max is the illusion that Kim Kardashian cares about anyone but herself.

Kim, shame on you.

Does M&M’s need the Bored Ape Yacht Club? Or is it the other way around? Is this partnership cool or cringe? Is the KINGSHIP NFT superband a good idea? Those are more profound questions than they look. We’re talking about the future of music, NFTs, and commerce here. The rules for the next hundred years are being written as you read these lines. And M&M’s are somehow part of the story.

“Rider” – #KINGSHIPxMMS pic.twitter.com/dw0Igoo1Py

— KINGSHIP (@therealkingship) August 24, 2022

When Bitcoinist first reported on the digital NFT band, we described KINGSHIP as:

“A band consisting of four members – all digital. That’s right, the group has no physical identity and instead they will be an NFT. This has the potential to be a wave that might change how we look at artists. Kingship consists of a Mutant Ape and three Bored Ape characters, including rare Golden Fur and Bluebeam Apes.”

The band is the creation of 10:22PM, Universal Music Group’s label dedicated to technological avant-garde projects. In a recent press release, both the band and M&M’s announced the limited edition candies. 

“Just 4000 have been created in total: The Gold edition, the rarest version, comes in a white and gold foil gift box and includes custom printed candies with KINGSHIP group members Captain, KING, Arnell and Hud in individually numbered boxes from 1 to 100. M&M’S will also produce only 3,900 exclusive celebratory gift boxes in Brown. Additionally, there will be 6,000 gift jars of the candies, available TODAY to fans in the U.S.”

That’s right, US readers can still get them on M&M’s special landing page for the collaboration.

What Do M&M’s And 10:22PM Say About The Project?

The press release contains two quotes from the geniuses that conceived this whole corporate orgy. The first one comes from Jane Hwang, Global Vice President at Mars Wrigley:

“Consumers’ expectations for what they want from their favorite brands has shifted, and at Mars, we know we need to be more innovative than ever with such a culturally famous brand like M&M’S. We’re excited to continue our Mars foray into the metaverse through this partnership with 10:22PM and KINGSHIP, as a way to engage our fans in a new and exciting space.”

1/ KINGSHIP is all about inclusivity and paying homage to rock ‘n’ roll legends. Their rider, which is a list of items the group requests to have backstage, always includes M&M’S chocolate candies of all colors. #KINGSHIPxMMS pic.twitter.com/AMWPfQ5EXp

— KINGSHIP (@therealkingship) August 24, 2022

The second one is courtesy of Celine Joshua, founder of 10:22PM and the creator of KINGSHIP:

“KINGSHIP is a group dedicated to the art of storytelling, so it was a great opportunity for us to both pay homage to rock’n’roll history, and one of the greatest bands of all time, but also create a unique fan experience for those that have joined this community at the start of their journey.”

They created a whole story around KINGSHIP’s rider and the legend that, at their peak, Van Halen had a clause that prohibited brown M&M’s backstage at their concerts. The thing is, KINGSHIP’s story is awful. We won’t bother you with it. Let’s go straight to the NFT business side of things.

ETH price chart for 08/25/2022 on Capital.com | Source: ETH/USD on TradingView.com

About KINGSHIP’s Key Card NFTs

The band has not released any music whatsoever, but last month KINGSHIP sold “5,000 access-enabled Key Cards” in NFT format in 24 hours. And this is the first perk that holders got, they “were the first to know about this exclusive collaboration and were given an early opportunity to access the products.” That’s innovative and shows potential.

The band has also made progress, KINGSHIP recruited “animator Jack Lanza” and “Grammy Award-winning music producers and well-respected NFT collector Jimmy McNelis.” Will we hear music soon? Bitcoinist certainly hopes so.

Featured Image M&M's and KINGSHIP candy from the press images | Charts by TradingView

Elon Musk’s tweets promoting Dogecoin could land him in trouble, with the Tesla boss now facing a class-action lawsuit for allegedly participating in and promoting a pyramid scheme. A U.S. investor claims that Musk was instrumental in attracting investors to Dogecoin, which later tanked and investors lost billions of dollars.

Musk has been a digital asset fan for several years now. Initially, he was a BTC maxi, but as many usually do, he discovered that BTC couldn’t be used as a currency due to its high fees, slow transactions, and carbon footprint.

It was then when he jumped ship and started promoting Dogecoin. The DOGE community was elated to have the world’s richest man backing their project, so much so that Musk, at one point, appointed himself the CEO of Dogecoin (although the title didn’t mean much as the project is decentralized).

Musk’s support for DOGE saw him try to push the digital currency as a payment method for Tesla merchandise in 2021; this year, the electric vehicle maker even tried integrating DOGE payments for its cars.

All these antics may finally catch up with Musk. Keith Johnson, a U.S. investor who filed the lawsuit on his behalf and that of other DOGE investors, accuses Musk of being a key reason why millions of investors bought Dogecoin. In his lawsuit, filed in the Southern District of New York, Johnson argued that Musk’s actions amount to a pump-and-dump scheme.

“Every statement and endorsement from Defendants on social media regarding Dogecoin has knowingly caused millions of people to spend billions of dollars buying into the Dogecoin Crypto Pyramid Scheme,” the complaint says.

“Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all…Musk used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement,” it added.

The class-action lawsuit seeks to include everyone who had lost money on Dogecoin since 2019, when Musk first started promoting the project. 

Johnson is asking for $86 billion in damages, and $172 billion more in treble damages. In addition, he wants to block Musk and his firms from promoting Dogecoin ever again and wants the court to declare that trading DOGE is gambling under the federal and New York state law.

Despite being a meme coin that was created to poke fun at Bitcoin almost a decade ago, Dogecoin shot up in value following the endorsement of Musk and several other celebrities in 2021. At one point, the meme coin shot up to a market cap of $89 billion, making it one of the top five most valuable digital assets. This was despite no use case in the real world, no projects or applications built on it, and no discernible developments.

Watch: The BSV Global Blockchain Convention panel, The Future of Digital Asset Exchanges & Investment

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

The growth of young people first of all, especially at a time like this, where being able to keep them in the gym becomes essential in order not to lose them in this pandemic that seems to never end. This is the task, or rather the mission, of the Cardano little heart basketball and above all the Head of the Gialloblu Youth Sector Davide Cristallo who, after the first months of the basketball year, tells us about the development, progress and difficulties faced by his boys.

Let’s start in a general way, how was the business going before everything stopped?
“Quite well, especially in the under 13, 17 and 18 bands, while as regards the under 15 and 16 we have been a bit few in the last period, struggling to train but with the help of 2005 from Cavaria we managed to do some more competitive training. The under 17s are having some difficulties because it is not easy to completely change the way they train and do, even if they are applying themselves well. The under 18, on the other hand, is giving the answers we expected after the excellent work started last year “.

From the point of view of the growth of the boys, what have you worked on most in recent months in such an uncertain sporting reality?
“Given the multiple uncertainties, the work done in the gym has been, is and will be, from a basketball point of view, geared towards improving one-on-one. After a year and a half inactive, the boys have lost control and confidence of their means. This is the thing that most catches the eye. We therefore decided, with the staff, to take a step back and meet the new needs of the young people. In leagues where it is more normal to find the boy addicted to fun than the prospect of becoming a player like the ones we face, the fact that the players had lost enthusiasm and confidence was obvious. Our mission in recent months has been to try to bring back that desire to play basketball and to do it with great dedication and passion. It was a job devoted to bringing the boys back to the normalcy of being together. When I see that today they still struggle to shower together, I understand that there is still a lot to do “.

What was it like and how is the relationship with families developing?
“Fortunately, with the fact that we pay a lot of attention and scrupulousness to all safety regulations, so swabs, checks, sanitation, etc., families are very happy to be able to take their children to play. Today the numbers are still reduced due to the many cases of positivity that come out in schools and the whole process proposed by the return to play, which in any case has already reduced the timing. The response from the parents was excellent, even if the relationship with them has changed: before there was a moment of confrontation and meeting at the end of training, now instead they stay in the car for example, there is a more level connection telephone than human “.

How much can vintages like these affect the growth of children?
“It all depends on how you decide to work and face the moment. You can’t want everything at once, otherwise you end up losing the boys instead of getting them back. The years lost now of the game, if interpreted in the right way perhaps by working on fundamentals or on one-on-one, can become a resource for the future when it returns to normal. This is all about our reality. If instead we go to see teams that work for higher levels, this time is certainly lost in part, because you lose that direct confrontation that is essential to grow and understand where you are going with the work in training “.

Finally, what responses is the Promotion project giving?
“Definitely positive. I am very happy with the work the guys are doing. What was the project to let 19-20 year olds play at a Senior level to make them gain experience and let them be able to make mistakes without too much weight is proving to be a winner. I must say that in this the work of the three senior players present in the team, who in addition to playing do a great job as a hen, let’s say to the youngest players, is crucial “.

Alessandro Burin