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Cryptocurrency news live – NFT costs as crypto price for Bitcoin, Shiba Inu, Ethereum & other coins listed on Coinbase

The US Sun
 2021-09-18
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THE price of Bitcoin is up to $48,638.99 today after it rose 8.66 per cent in the past seven days.

It comes as Shiba Inu coin has spiked up in value after being added to Coinbase, as its rival DogeCoin dropped.

The coin has risen by 35 per cent this week.

Meanwhile, the "meme" Dogecoin has gone down 5.8 per cent over the last week.

However, Dogecoin is still the largest meme-based crypto asset in terms of market capitalization, according to Bitcoin.com.

Read our cryptocurrency live blog for the latest news and updates...

WILL SHIBA INU'S PRICE RISE?

The value of Shiba Inu is currently sitting at $0.000008384 and it's up by more than 25% over the past 24 hours, according to CoinMarketCap.

In comparison, the tokens hit their highest ever level at $0.00003641 on May 11 - but they have since dropped in value.

It's difficult to predict how Shiba Inu's price will change in future due to a wide number of factors affecting it.

This includes regulatory crackdowns around the world, comments by high profile individuals such as Elon Musk, and other developments.

WHAT IS SHIBA INU COIN?

Shibu Inu is a cryptocurrency token that allows users to hold trillions of them.

The tokens feature the same Shiba Inu dog as Dogecoin, which has rocketed in popularity recently.

Whether you've already invested or not, keep in mind that making money through cryptocurrencies or other investments is never guaranteed.

Cryptocurrencies are especially volatile, so their values can crash with little to no notice.

  • WHERE DOES COINBASE REVENUE COME FROM?
  • The majority of Coinbase's revenues come from Bitcoin and Ether on the Ethereum blockchain.
  • They are currently the number one and number two cryptocurrencies on the market, according to MarketWatch.
  • PAYPAL LAUNCHES CRYPTO SERVICE IN UK
  • PayPal had launched its cryptocurrency service in the UK.
  • Beginning Friday, UK users are now able to buy, hold and sell digital currencies.
  • Crypto operations began in the US last October.

COINBASE BRINGING IN ASSETS

According to MarketWatch, Coinbase has been attempting to increase activity and trading revenue by bringing on assets like Shiba Inu.

The platform only recently added Dogecoin as well.

The moves come after a number of rival exchange platforms added the popular cryptocurrencies to their rosters.

WHY DID SHIBA INU SPIKE?

Shiba Inu coin was added to Coinbase, the crypto trading platform, earlier this month.

Investors had been suspecting that the coin would spike in price after being listed.

It also often draws more value when it is discussed on social media because of hype that surrounds it, according to Deseret.

CARDANO PREDICTIONS

How much Cardano, also known as ADA, will rise or fall in future is impossible to know for sure, but plenty of experts have made predictions.

It's important to take the predictions with a pinch of salt though, as they're nowhere near guaranteed.

For example, CoinPriceForecast estimates Cardano will hit $3 by the end of 2021 and $5 by the end of 2024.

It then expects it to rise further by 2031, when the value could hit $10.

Meanwhile, WalletInvestor has a one-year forecast for Cardano of $3.093 and a five-year forecast of $9.774.

ETHEREUM UPGRADE

Ethereum (ETH) was released in 2015 and is currently the second-largest cryptocurrency behind Bitcoin, which launched in 2009.

As well as being used as a cryptocurrency, developers can also build applications and run smart contracts on Ethereum.

The upgrade is technically called Ethereum Improvement Protocol 1559, or EIP-1559, but it has also been named the "London hard fork."

WILL ETHEREUM OVERTAKE BITCOIN?

It's difficult to say for certain, but it's possible Ethereum one day overtakes Bitcoin as the dominant crypto, according to Goldman Sachs.

Last month, the bank said Ether "looks like the cryptocurrency with the highest real use potential as Ethereum, the platform on which it is the native digital currency, is the most popular development platform for smart contract applications," reports Business Insider.

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, added to The Sun: "Bitcoin may boast the strongest brand in the crypto world but it doesn’t provide the same opportunities as a launch pad for decentralised apps."

WHAT ARE THE RISKS OF CRYPTO?

Cryptoassets are also complex to understand, making them dangerous for those who aren't in the know.

They're also extremely high risk due to their volatility, meaning they can go up as well as down, so you should only invest if you can afford to lose the cash.

Investors should be wary they risk losing all of their money if they put cash in Bitcoin and other cryptocurrencies.

WHAT IS SOLANA?

Solana is a challenger to Ethereum as the blockchain of choice for building decentralized applications.

Similar to rivals such as Cardano, the project claims to offer a faster and more efficient alternative.

The idea and initial work of Solana began in 2017, but it didn't officially launch until March 2020.

LITECOIN VS. BITCOIN

Litecoin, which was established in 2011 by Google engineer Charlie Lee, operates similarly to Bitcoin.

Mr Lee on occasions refers to Litecoin as the “silver to Bitcoin's gold.”

The two cryptocurrencies act similarly in how their global payment operations are set up. Both are not controlled by financial institutions.

Like most cryptocurrencies, Litecoin uses blockchain technology for processing and recording transactions.

While Litecoin is smaller, it is a quicker and cheaper alternative when compared to Bitcoin.

WHAT ARE THE MOST VALUABLE COINS?

Cryptocurrency prices hit record highs earlier this year amid interest from high profile individuals such as Elon Musk and more institutional investment in the sector.

The most valuable coins are Bitcoin and Ethereum but there are lots of alternatives or altcoins aiming to benefit from crypto interest.

Values can be volatile though and regulators have warned that investors could lose all their money.

PREDICTING ETHEREUM PRICE CHANGES

How the price of Ethereum will change in the future is impossible to know for certain, but experts and investors have still made predictions.

According to a panel of 42 cryptocurrency experts by comparison site Finder, Ethereum could be worth $4,596 by the end of 2021.

It could then soar above $10,000 later on to hit $17,810 by the end of 2025 and $71,763 by the end of 2030.

EXPERTS WEIGH IN ON ALCHEMY PAY AND BINANCE

Shaun Heng, vice president of growth and operations at CoinMarketCap told The Sun that it's challenging to assess the risk of many crypto projects like Alchemy Pay.

And while he isn't a fan of Alchemy Pay's crypto-linked cards, he did tout one its partners Binance, which is the largest crypto exchange by trading volume globally.

Heng said: "The partnership with Binance is most definitely a good sign of validation for the project."

THE 'MUSK' EFFECT ON CRYPTO

Elon Musk has once again been linked to activity in the crypto markets.

Earlier this week, the Telsa CEO tweeted about the arrival of his new Shiba Inu pup, Floki.

Just days later, the price of Shiba Inu coin was skyrocketing.

WHAT COULD CONTRIBUTE TO SHIBA INU'S VALUE?

In May, the value of Shiba Inu soared after Binance announced it would list the coins on the crypto platform.

Its value rose again on September 17 after it began trading on Coinbase.

It means the price could rise once again if it's successful in listing on other recognized platforms such as eToro.

EXPERTS DIFFER PREDICTING SHIBA INU'S VALUE

Plenty of cryptocurrency fans have predicted Shiba Inu's value for 2022, but you should take it with a pinch of salt as it's nowhere near guaranteed.

For example, crypto website Wallet Investor expects a value of up to $0.000018 in a year's time.

Meanwhile, Coin Price Forecast expects it to hit a value of $0.00002336 by the middle of next year.

It then expects it to end the year at a slightly higher level of $0.00003037.

EXPERTS PREDICT POLYGON'S GROWTH

How the price of Ethereum will change in the future is impossible to know for certain, but experts and investors have still made predictions.

Charlie Barton, 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."

CAN YOU TRADE CRYPTO ON ROBINHOOD?

Unlike most of its discount rivals, Robinhood offers 24/7 crypto trading through its platform.

That means you’ll have access to trade major cryptocurrencies including, Dogecoin, Ethereum, and Bitcoin.

Its crypto investors can buy or sell with a market order, which means it's executed at the current market price.

ARE SANCTIONS COMING?

The Biden administration is reportedly preparing to issue sanctions to make it more difficult for hackers to profit off of ransomware attacks using digital currency.

The Wall Street Journal reported that the Treasury Department may issue the new sanctions as early as next week.

They'd reportedly target specific traders and cryptocurrency exchanges in an effort to deter exchanges from processing the transactions when they're made.

SHIB COIN HINTS AT THINGS TO COME

WILL SHIBA INU COIN CONTINUE TO CLIMB?

It's unclear at this time if Shiba Inu coin's value will continue to climb.

Experts point out that there is still some risk associated with "memecoins."

"Memecoins are highly volatile cryptocurrencies that are known to witness sharp movements based on news events," according to Mint.

SHIBA INU STRIVES TO BE ALTERNATIVE TO DOGECOIN

Shiba Inu coin now operates on its own Etherem blockchain.

The currency strives to be an Ethereum-based alternative to Dogecoin by supporting an NFT art incubator and other projects on its decentralized exchange known as Shibaswap, according to Yahoo! Finance.

  • WHERE DOES COINBASE REVENUE COME FROM?
  • The majority of Coinbase's revenues come from Bitcoin and Ether on the Ethereum blockchain.
  • They are currently the number one and number two cryptocurrencies on the market, according to MarketWatch.

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