Take a look at what's happening in the world of crypto by reading U.Today’s top four news stories.
Shiba Inu reaches dangerous level, catastrophe might be ahead
After the successful Ethereum Merge, Shiba Inu found itself among many unrelated-to-Ethereum and non-mineable assets, which suffered more damage following the unexpectedly high CPI data release. Over the past three days, Shiba Inu has been consolidating around the fundamental support level which, if broken, may bring the token back to this month's or perhaps even the year's lows. Such a scenario could end up being disastrous for the meme-based coin since investors are unlikely to be able to take yet another plunge. At the time of publication, SHIB is changing hands at $0.000011, down 3.2% over the last 24 hours.
Vitalik Buterin is surprised by behavior of Ethereum miners
Regardless of many market watchers expecting the Ethereum hashrate to drop before the Merge event, it did not happen. In a recent tweet, Ethereum co-founder Vitalik Buterin shared his amusement about the behavior of cryptocurrency miners on the network as the hashrate did not evaporate ahead of the Merge. Buterin was previously arguing against a 50% hashrate drop, but at the same time, he anticipated at least a 5% or 10% decrease in the Ethereum network’s mining power. However, the change in mining power appeared to be insignificant. Yet, while the situation on the mining market remained relatively calm, the funding rates of Ethereum futures reached all-time low hours ahead of the Merge.
BabyDoge holder number again surpasses SHIB's after reaching new all-time high
According to data provided by @babydogeburn_, BabyDoge has set another record, as the overall count of the meme coin owners reached 1,615,725. Shiba Inu, the second biggest meme token by market cap, is falling behind its competitor, with the wallet count totaling 1,222,610. Over the past three weeks, the growth in the number of holders for these meme crypto assets comprises roughly 8,000 for BabyDoge and 10,600 for SHIB. In the meantime, BabyDoge coin has once again become the most used smart contract for Binance Smart Chain whales. Currently, BabyDoge is trading at $0.000000001194, per CoinMarketCap.
Dogecoin (DOGE) payments expand to thousands of shops thanks to this partnership
As became known from a recently published press release, BigCommerce, a large provider of software for merchants, has established a strategic partnership with two crypto payments services, BitPay and CoinPayments. Thanks to the formation of this alliance, tens of thousands of companies using BigCommerce's services will be able to accept and process crypto transactions. The implementation of Bitpay and CoinPayments services will allow merchants to accept the most popular cryptocurrencies, such as Dogecoin, Shiba Inu, Ethereum and Bitcoin. This is another major step for cryptocurrency payment start-ups as well as for cryptocurrencies, which are increasingly being accepted as a form of payment by various establishments.