The SHIB community has been overjoyed by a recent mention of their beloved meme crypto, Shiba Inu, along with the market’s flagship cryptocurrency, Bitcoin, on a popular Utah financial TV show.

This occurred while the second largest meme cryptocurrency on the market has followed Bitcoin’s recent all-time high, soaring to $0.00003. By now, however, Shiba Inu, along with the rest of the market, has been following Bitcoin’s price reversal as it plunged almost 10% within the last 24 hours.

BTC and SHIB mentioned in “Eye on Your Money”

The anchor of the “Eye on Your Money,” run by KUTV in the state of Utah, mentioned that just recently the world’s primary crypto, Bitcoin, had reached a new all-time high, breaking above the $73,750 level. Shiba Inu meme coin “has also been making big news,” the anchor said, adding that SHIB had made a partnership with K9 Finance, and new token KNINE was launched recently.

This partnership, the anchor stressed, brings a significant tech innovation to the SHIB coin. In particular, K9 is collaborating with layer-2 blockchain solution Shibarium, built to help Ethereum increase throughput by conducting SHIB transactions on Shibarium. The SHIB leader, the mysterious Shytoshi Kusama, and the project’s head developer Kaal Dhairya have been appointed as K9 official advisors as part of that collaboration.

Over the past 24 hours, notable meme cryptocurrency SHIB has plunged by almost 19%, falling from $0.00003487 to the $0.00002815 level, where it is exchanging hands at the time of writing.

As reported by U.Today previously, Shytoshi Kusama issued a crucial warning to the SHIB army over the new KNINE token, urging SHIB users to DYOR (an acronym meaning “do your own research”) and stay watchful since there are a lot of scammers who offer a fake KNINE token to their potential victims.

Hefty SHIB lump burned despite big price crash

According to data shared by the Shibburn wallet tracker, over the period of the last 24 hours, the Shiba Inu community has disposed of a significant amount of SHIB coins.

Their mutual efforts have led to the transfer of a total of 25,366,385 SHIB to unspendable blockchain addresses. This has propelled the overall burn rate of this meme coin 64.42%, up compared to yesterday morning.

XRP token recently experienced a sharp decline that caught the attention of investors and traders alike. After a period of substantial gains, XRP has undergone a correction, prompting speculation about its next move.

The technical analysis of the XRP chart indicates that the asset has encountered a significant sell-off, with the price dropping precipitously over a short period. This sharp decline has led XRP to test key support levels that could determine the asset’s short-term trajectory.

One critical local support level for XRP is currently found at around $0.58, a point that aligns with the 100-day moving average. This moving average has traditionally acted as a robust support level, and a bounce off this line could signal a possible recovery or consolidation phase. Should this support hold, it could provide a foundation for XRP’s price to stabilize and potentially mount a comeback.

Conversely, resistance levels have formed at higher price points, particularly around $0.74, where XRP struggled to maintain upward momentum. This resistance level represents a significant barrier that XRP would need to overcome to reinitiate a bullish trend.

The volume indicator shows a spike during the sell-off, indicating a strong market reaction and possibly a climax of selling pressure. This could suggest that the market is flushing out weak hands and could be nearing a point of exhaustion.

Furthermore, RSI has dipped into oversold territory, which traditionally hints at an overselling of the asset and could foreshadow a potential reversal if market sentiment shifts. The RSI is a momentum oscillator that measures the speed and change of price movements, and its current position could indicate that the selling momentum is overstretched.

BEIJING, (UrduPoint / Pakistan Point News – 16th Mar, 2024) China‘s commercial banks saw a net forex settlement surplus of 12 billion Yuan (about 1.69 billion U.S. Dollars) in February, official data showed on Friday.

In yuan terms, forex purchases by banks stood at about 1.09 trillion yuan, while sales reached about 1.08 trillion yuan, data from the State Administration of Foreign Exchange showed.

The cryptocurrency market is known for its volatility, and Shiba Inu (SHIB) recently experienced a significant price move. The dog-themed cryptocurrency saw a 13% drop in value in today’s trading session, falling to lows of $0.000027.

This sudden decline coincides with a drop in the general crypto market, with Bitcoin falling as low as $65,565 before recovering to around $67,700.

At the time of writing, SHIB was down 13.77% in the last 24 hours to $0.00002908 and down 14.43% in the last seven days.

While several factors may have contributed to the SHIB price decline, on-chain data appears to provide an inkling into the key reason for the Shiba Inu price drop.

A deeper look into SHIB transactions is provided by on-chain data, which offers clues as to what might have triggered the price movement.

Large transactions, often referred to as “whale” activities, play a role in influencing the market. A general drop in such transactions has been observed since March 5 and was down 5.43% in the last 24 hours, per IntoTheBlock data.

Likewise, the holding time of transacted coins indicator from IntoTheBlock can provide valuable insights into investor confidence and the sentiment of the market.

If coins are traded more frequently, it could imply that investors are more interested in short-term gains. Coins purchased during bull runs, presumably by retail dealers, had shorter average holding periods.

The average time held of coins transacted fell to four weeks on March 13, while the figure for March 14 stood at two months, and the volume of the coins transacted was 2.12 trillion SHIB, indicating speculative trading.

Speculative traders are known for their short-term trading strategies, often based on market trends and sentiment rather than the underlying fundamentals of the asset. In the case of Shiba Inu, the 13% drop appears to align with such a trend. These traders often take advantage of the hype surrounding popular cryptocurrencies, leading to rapid buy and sell orders that might trigger unexpected price movements.

Shiba Inu rose to highs of $0.00004575 on March 5 after a 300% price breakout. Currently, the SHIB price fluctuates in a range of $0.000027 and $0.000039, if taken from this date.

As the bull run in crypto is gaining steam in early 2024 catalyzed by the Dencun Ethereum (ETH) upgrade and the fourth Bitcoin (BTC) halving, newcomers and pros are looking for ways to protect and grow their capital gains.

Yield App, a reliable battle-tested wealth generation application, offers an unrivaled stack of opportunities for Bitcoin (BTC) and altcoin holders backed by low-risk strategies and attractive APY rates.

Earning stable interest with Yield App: Highlights

Launched back in Q1, 2021, Yield App is an ecosystem of services for yield generation on cryptocurrency deposits. It works with fiat as well and offers up to 25% APY.

• Typically, passive yield generation strategies are associated with high-risk schemes or providing liquidity in DeFi, which is associated with shady financial activity or requires specific expertise in Web3.
• Yield App is changing the narrative as it generates yield without providing money for on-chain lending or MLM schemes.
• Instead, Yield App relies on market-neutral strategies and a risk-averse approach in working with client money.
• Users of Yield App are invited to generate yield on their deposits in dozens of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and U.S. Dollar Tether (USDT).
• Yield App accepts deposits in Euro (EUR) and Great Britain Pound (GBP); fiat-to-crypto exchange is also available to all customers.
• Crypto owners can start using Yield App after a streamlined account setup and effortless KYC checks.

Yield App’s tokenomical design is underpinned by the native YLD token on Ethereum (ETH), while its technical stack includes Haven1, an EVM-compatible Layer-1 blockchain optimized for DeFi-centric use cases.

Generating income on dormant crypto: Top 3 ways

Despite the cryptocurrency segment allowing a number of ways to benefit from working with crypto, only few of them can really be associated with passive or “semi-passive” income.

Liquidity provision in DeFi

In the majority of decentralized finance (DeFi) applications, you can benefit from injecting liquidity into the lending pool. Not unlike services of mainstream Web2 banks, borrowers get the yield generated by lenders who pay for the money they obtain from DeFi.

This scheme looks secure, but heavily depends on the prices of all currencies involved, takes expertise in DeFi and can be slow and resource-ineffective due to high fees.

High-risk apps

This scheme can be compared to “quick income” schemes: “Early birds” share the liquidity injected by next generations of participants. Such mechanisms only work when new participants join the process.

While these schemes are typically associated with very high APY rates, most of them fail sooner or later. Also, in some jurisdictions, such activity is illicit.

Centralized earning platforms

Centralized earning platforms merge the benefits of various classes of yield generating apps. Just like Web2 banks, they do not leverage users’ funds in risky schemes. Instead, the assets deposited by customers are used as liquidity in conservative, risk-averse businesses.

This class of applications work with stable and predictable yield rates. When it comes to crypto, they access the widest range of cryptocurrencies, including both Bitcoin (BTC) and altcoins. The majority of them rely on centralized storage and organize KYC/AML checks for potential clients. This class of yield apps is the most secure and cost-efficient one. Also, it is the go-to solution for customers with no previous experience in finance, crypto or investments.

Introducing Yield App, secure and newbie-friendly wealth management app

Starting from early 2021, Yield App, a cryptocurrency yield generation machine, onboards depositors of Bitcoin (BTC) and altcoins. With Yield App, everyone can “park” his or her crypto to get up to 25% in APY.

Yield App: Basics of platform and YLD token

Yield App is a one-stop application for earning yield on cryptocurrency deposits. The main product – a yield-generation module – is accompanied by a couple of useful cryptocurrency economics services:

1. OTC trading desk.
2. Fiat currency paygate for GBP and EUR.
3. Crypto-to-fiat exchange.
4. “Recurring buy” instrument for DCA strategies.
5. Yield Pro tool for sophisticated investors.

Generating passive income for investors of various types is the main purpose of Yield App’s operations. Simply put, depositors “lock” their cryptocurrency for a predetermined amount of time to grab periodic rewards.

Yield App’s tokenomic design is underpinned by YLD token issued as an ERC-20 asset on the top of the Ethereum (ETH) blockchain. As of Q1, 2024, YLD token is available for trading on major centralized (KuCoin, Gate.io) and decentralized (Uniswap, QuickSwap) cryptocurrency exchanges. YLD is integrated into  various activities on Yield App as its major utility token.

Yield App: Earning interest on BTC, altcoins and stablecoins

On Yield App, every investor is able to find a program that is suitable for his/her investment strategy. First of all, it offers three earning programs: Earn+365, Earn+ and Flexible strategies.

As such, depositors can benefit from both Bitcoin (BTC), altcoins and major centralized (USDT, USDC) and decentralized stablecoins (DAI).

Within the Yield Pro module, Yield App offers a complex yield enhancement strategy, Dual Currency (or Buy Low) with APY rates over 50%.

Yield App: Products and services

Besides the yield generation module, Yield App has created a number of useful services for a seamless cryptocurrency experience. Its Swap module offers newbie-friendly and resource-efficient crypto-to-crypto and crypto-to-fiat exchange services.

The fiat paygate accepts the largest fiat currencies, the Euro (EUR) and Great Britain Pound (GBP); customers can deposit them via familiar payment methods.

As previously mentioned, Yield Pro offers an enhanced services kit for sophisticated investors with high deposits and a deep understanding of how cryptocurrency markets work. The product is aimed at investors with varying risk appetites and investment goals looking to build more complex strategies. At the same time, all information about Yield Pro is summarized in explanatory videos so that every customer can research its design.

Yield App’s over-the-counter (OTC) desk allows big depositors to perform exchange operations worth $100K+ in equivalent with 70+ cryptocurrencies. These swaps are fully confidential and are not demonstrated on any exchange.

Last but not least, Yield App released the “Recurring Buy” module in beta version. With Recurring Buy, everyone can leverage DCA, the oldest and battle-tested strategy for wealth generation on a growing market.

As a result, Yield App customers can enjoy a holistic ecosystem of cryptocurrency services without leaving the application. 

Yield App: How to join

The process of registration on Yield App remains clear and effortless even for the newcomers to crypto. First, new customers should set up an account and confirm it via email.

Once the account is registered and activated, newcomers should pass KYC/AML checks and ID verification. Due to the seamless system being employed, all procedures take a minimum amount of time. 

After completing registration procedures, users can deposit money in crypto or fiat and start earning instantly.

Bonus: What is Haven1, the Yield App-backed EVM blockchain for the DeFi era?

As a novel part of its tech stack, the Yield App team released Haven1, a high-performance EVM-compatible blockchain tailored to DeFi use cases.

Its built-in verifiable identity at the wallet level facilitates recourse mechanisms and security guardrails that allow Haven1 to unlock previously unattainable decentralized finance use cases. 

Currently, the blockchain is protected by a network of seven validators. To enhance its decentralization and earn extra rewards, YLD holders can stake their tokens in favor of this or that validator. With over 100,000 YLD staked, customers can access additional services and premium rewards.

Haven1 is fully audited and works with high TPS, which makes it a go-to solution for institutions interested in expanding their businesses to the DeFi scene.

Wrapping up

Yield App is a one-stop application for cryptocurrency yield generation. It generates interest on Bitcoin (BTC), major stablecoins and altcoins in three programs with different minimum lock periods. Users can obtain up to 25% in APY in regular modules and even higher in Yield Pro modules.

Passive investing with Yield App is safer compared to key alternatives: unlike many CeFi and DeFi apps, it prioritizes low-risk, market-neutral strategies of yield generation.

Besides yield generation instruments, Yield App offers its customers an ecosystem of exchange and earning tools: OTC swaps desk, crypto-to-fiat exchange, automated DCA module and so on.

Yield App’s tokenomics backbone is YLD token on Ethereum blockchain. 

Crypto market liquidations totaled approximately $680 million in assets following a reversal in the price trend of Bitcoin (BTC) over the past 24-hour period; the cryptocurrency market has experienced a significant shift in pricing dynamics.

BTC, ETH and SOL liquidated after reverse gains

Data from CoinGlass reveals that major cryptocurrencies, including Bitcoin, Ethereum and Solana, have witnessed substantial liquidations as the recent uptick in Bitcoin’s price abruptly turned bearish.

Bitcoin (BTC) recorded liquidations totaling $246.66 million, with $195.61 million from long positions and $47.05 million from short positions. The last time liquidation occurred as a result of a price drop, some analysts, including critic Peter Schiff, were optimistic about a rally.

Ethereum (ETH) saw liquidations amounting to $116.07 million, comprising $94.86 million from long positions and $21.21 million from short positions.

A substantial acquisition of 25,674 ETH was recently executed by an Ethereum whale, with a risk of repercussions predicted should the price of ETH dip below a certain threshold, potentially leading to a liquidation event. This, according to analysts, seems to be playing out.

Outlier mode activated by Solana

Solana (SOL) experienced liquidations totaling $38.28 million, with $19.88 million from long positions and $18.39 million from short positions. However, Solana (SOL) stands out as the sole major cryptocurrency among the top 10 by market capitalization to register gains.

Within the last 24 hours, SOL has surged by 6.8%, reaching $177.31, per data from CoinGecko. This trend contrasts sharply with the broader digital currency market, which is witnessing substantial losses, particularly in major coins like Bitcoin and Ethereum.

Even with the market experiencing liquidation due to a price dip, there is potential for stability in the near future, especially considering positive market sentiment leading up to next month’s Bitcoin halving event. Moreover, increasing inflows into products like a spot Bitcoin ETF could help mitigate the decline in the short term.

As the world’s flagship cryptocurrency has staged a massive plunge over the past 24 hours, @lookonchain analytics platform has noticed a curious Bitcoin transaction that preceded this price fall. It pointed out that this is not the first time that this whale has sold a massive BTC amount, right before the price stages a big fall.

Bitcoin plummeted over whale? Here’s what happened

@lookonchain has spotted a mysterious cryptocurrency holder (large holders like this are often referred to as whales within the crypto community) who transferred a massive 4,637 BTC chunk to a hot wallet linked to the Binance exchange within the last 24 hours. The amount of Bitcoin transferred comprises a hefty amount of fiat – roughly $329 million.

It happened right when Bitcoin demonstrated an astonishing 9.93% plunge, losing approximately $7,400 from its market price. While yesterday’s Bitcoin fall was followed by an attempt to regain some of the losses, today BTC lost an astonishing 8% worth $5,800.

The aforementioned blockchain sleuth pointed out that this is not the first time this whale’s transaction has coincided with a big Bitcoin decline. Previously, BTC plummeted on March 5. Back then, the same whale had transferred a slightly bigger chunk of Bitcoin to the world’s largest exchange – 4,876 BTC coins evaluated at $319 at the time when the transaction was made.

Robert Kiyosaki loves gold, but he prefers Bitcoin

Famous investor and author of the “Rich Dad Poor Dad” book on managing personal finance Robert Kiyosaki is known as a vocal Bitcoin supporter. In a recent tweet, Kiyosaki stated that he prefers Bitcoin to all other traditional mineable high-value assets.

The writer and financial expert shared that aside from Bitcoin, he owns gold, silver and even several oil wells. However, he pointed out that the “trouble” with all these assets is that once their price goes higher, more gold, silver and oil can be produced (mined).

It does not work the same with Bitcoin, Kiyosaki reminded his 2.1 million X/Twitter audience, since BTC is forever limited to only 21 million coins, and more than two thirds of them have already been produced by miners. For this reason, Kiyosaki’s bet on Bitcoin is much bigger than on gold and silver.

Record High and Subsequent Retreat

Gold commenced the week on a strong footing, reaching an all-time high of $2,188.13 per troy ounce on Monday. This surge was largely attributed to growing investor optimism regarding a possible Federal Reserve interest rate cut by June. However, as the week progressed, gold prices began to retract, influenced by renewed inflation concerns.

The Producer Price Index (PPI) for the 12 months ending in February climbed by 1.6%, marking the fastest increase in months. This spike, primarily driven by rising energy costs, indicated a robust inflation trend. This upward movement in PPI was followed by Consumer Price Index (CPI) data, which also exceeded expectations. The CPI advanced 0.4% from the previous month and 3.2% year-on-year.

Market Impact of Inflation Data

The higher-than-expected inflation readings led to a recalibration of market expectations regarding U.S. interest rate cuts. The data over the week suggested persistent inflationary pressures, reducing the likelihood of immediate rate reductions. As a result, gold, which does not yield returns, becomes less attractive in a high interest rate environment.

The U.S. dollar index, a measure against six major currencies, recorded a significant weekly gain of 0.7% – the largest since mid-January. This gain in the dollar index made gold more expensive for overseas buyers, contributing to the metal’s price drop. Additionally, U.S. Treasury yields rose last week as the market adjusted its outlook on interest rates post the inflation data release.

Next Week’s Outlook and Central Bank Decisions

The upcoming week holds key events that could further influence gold prices. The Federal Reserve’s meeting is a focal point, with no rate changes expected but keen market interest in any signals regarding future cuts. The Bank of Japan is also a point of interest, potentially moving away from negative interest rates. Similarly, meetings of the Bank of England, the Swiss National Bank, and discussions within the European Central Bank about rate reductions will be closely watched.

In summary, while gold traditionally serves as an inflation hedge, the current market scenario of potentially prolonged high interest rates and a strengthening dollar presents a bearish short-term outlook for the metal. Investors and traders should closely monitor central bank decisions and global economic indicators in the coming week to gauge the direction of the gold market.

A Bitcoin wallet was activated after nearly a decade and a half of dormancy, transferring 50 BTC — valued at approximately $3.67 million — to Coinbase. This wallet, which received the Bitcoin from mining activities on April 25, 2010, has been untouched until this recent transaction.

The serendipitous tale of this Bitcoin miner, who diligently held onto their assets through multiple market cycles, illustrates a blend of remarkable patience and fortuitous timing. The miner’s decision to hold for 14 years is emblematic of a long-term investment strategy that early adopters of Bitcoin often embraced, rooted in an unwavering belief in the cryptocurrency’s value proposition and potential.

The recent activation of such long-dormant wallets has been dubbed a “waking of the whales,” referring to entities that hold significant amounts of Bitcoin, often from the network’s earliest days, known as the Satoshi era. These movements have the potential to cause ripples on the market, given the sizable volume of assets they can introduce at once.

Turning our attention to Bitcoin’s current market performance, the digital asset has showcased an impressive bull market trend, as seen in the provided chart. Bitcoin’s upward trajectory has been characterized by a series of higher highs and higher lows, a bullish indicator in market technical analysis. The moving averages are well aligned below the current price levels, suggesting strong support.

However, as with any bull market, investors remain vigilant for signs of a correction. Bitcoin’s recent surge has led to discussions about the sustainability of its price increase. Given the volatile nature of cryptocurrency markets, a price correction is always a possibility, especially after such significant appreciation.

Furthermore, the reawakening of Satoshi-era whales could introduce a sudden influx of supply to the market, potentially triggering a short-term correction as the market absorbs the new availability of coins.

Nonetheless, the long-term sentiment for Bitcoin remains optimistic. With increasing adoption, institutional investment and mainstream financial products incorporating BTC, the foundational cryptocurrency continues to cement its position within the financial landscape.