THE cryptocurrency market is down amid fears that support from the US central bank may pull support from riskier assets.
Bitcoin and Shiba Inu prices continue to fall at noon EST on Friday as investors fear the US Federal Reserve will end its quantitative easing program.
Quantitative Easing generally drives down interest rates on bonds, which has historically led investors to flock to riskier assets with higher yields.
At noon on Friday, Bitcoin was down 2.65% and Shiba Inu down 3.72%, according to coinbase.
However, the iExec RLC price is up 358.31% to $ 4.82, according to coinbase.
The Fed’s financial plan to end bond buying programs (also known as quantitative easing) aims to manage rising inflation.
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WHAT IS ROBINHOOD? CONTINUED
Unlike many discount brokers, the company does not offer individual retirement accounts.
The bulk of Robinhood’s revenue comes from order flow.
WHAT IS ROBINHOOD?
The Robinhood platform operates as a discount brokerage firm that offers commission-free transactions.
Specifically, users can trade in exchange traded funds (ETFs), individual stocks (including US custodian stocks), and options.
You can also trade Robinhood’s shares through the company’s IPO at a valuation of $ 1.2 billion.
WHAT IS METAVERS? CONTINUED
Meta VR boss Andrew Bosworth said, “The Metaverse is a collection of 3D virtual spaces where you can share immersive experiences with each other when you can’t be together. “
“What comes after the Internet? Instead of looking at a screen, you participate in the experiments.
“You don’t have to experience it in virtual reality. Most people will experience this first on the screens they already have.
Facebook’s Mark Zuckerberg called it the “next version of the Internet” and predicted that the real metaverse would be ready within a decade.
WHAT IS METAVERS?
The metaverse has a broad definition. It’s an Internet, but it’s immersive – so you live there.
The platform will feature games, social media, videos, shopping, health and fitness, and more.
WHAT ARE THE MOST VALUABLE CRYPTO PARTS?
Cryptocurrency prices hit record highs earlier this year amid interest from prominent figures such as Elon Musk and increased institutional investment in the industry.
The most valuable coins are Bitcoin and Ethereum, but there are plenty of alternatives or altcoins aimed at leveraging the value of crypto.
Values can be volatile, however, and regulators have warned investors could lose all of their money.
WHAT IS AN NFT MARKETPLACE?
An NFT is a non-fungible token.
Non-fungible tokens, unlike bitcoin, are each unique and cannot be replaced with anything else.
The majority of NFTs exist within the Ethereum blockchain. Ethereum is a cryptocurrency which has the ability to support NFTs.
NFTs can be anything digital and are commonly used as a way to buy and sell digital art.
An NFT market is used to list NFTs and ensure that they are accessible for trading.
Marketplaces allow users to promote their NFTs, where buyers can browse and bid on what they would like to buy.
RUMORS ARE CIRCULATING ON GAMESTOP’S NFT MARKET
Over the past few weeks, rumors have gained traction on the internet that GameStop is partnering with Loopring to launch an NFT marketplace.
The price of Loopring has increased by over 400% since the first rumors started to spread.
Typically valued at less than a dollar, Loopring’s prices are now above $ 3 per share.
While no official announcement from either of the companies in question has been made regarding a partnership, social media is teeming with users awaiting the statement.
EL SALVADOR ADOPTS BITCOIN, CONTINUED
However, those who do not have access to technologies that can perform Bitcoin are excluded from the obligation to accept it.
The US dollar and Bitcoin are now the country’s official currencies.
This is the first time that Bitcoin has been adopted as legal tender in a sovereign country.
EL SALVADOR ADOPTS BITCOIN
The country’s president, Nayib Bukele, passed a bill in June stating that starting September 7, Bitcoin can be used in any transaction and that all businesses must accept electronic money as a form of payment.
The law also states that tax contributions can be paid via Bitcoin and that trading in the cryptocurrency will not be subject to capital gains tax.
Under the new law, El Salvador “will promote the training and mechanisms necessary for the population to access [Bitcoin] transactions.”
CAN SHIBA IBU REACH $ 1?
Shiba Inu has recently gained in value, reaching several new all-time highs.
On November 12, 2021, cryptocurrency exchange CoinDCX listed Shiba Inu on its mobile trading app.
Until then, it was only available on the platform in trade mode only on CoinDCX Pro.
Shiba Inu traded on CoinDCX follows the company’s announcement that it is the first cryptocurrency firm in India to reach a valuation of over $ 1 billion, which grants it unicorn status.
On October 28, Shiba hit a record high of $ 0.00008845.
WILL THE PRICE OF SHIBA INU INCREASE?
For Shiba in particular, there has been a fair amount of volatility this year despite rising last month.
For example, until October 28, the token hit its last high of $ 0.00003641 on May 11.
It is difficult to predict how the price of Shiba Inu will change in the future, due to a large number of factors that affect it.
This includes regulatory crackdowns around the world, commentary from prominent figures such as Musk, and other developments.
WHAT IS SHIBA INU COIN, CONTINUED
Whether or not you’ve invested before, keep in mind that making money from cryptocurrencies or other investments is never guaranteed, even with a popular product like Shiba Inu.
Cryptocurrencies are particularly volatile, so their values can crash with little or no notice.
WHAT IS THE SHIBA INU PART?
Shiba Inu is a cryptocurrency token that allows users to hold billions of it.
The tokens feature the same Shiba Inu dog as Dogecoin, which has recently gained in popularity.