Fans of the popular Netflix series Squid Game are in for a real treat
The popular Korean series has been turned into a cryptocurrency – trading as Squid.
Squid, which was trading around 1 cent on Tuesday and reached $2.34 on Friday – meaning the new digital coin jumped by 2300 percent.
Its market capitalisation, or total volume in the market, currently sits at $184million.
Squid Game, the dystopian series which tells the story of a group of people forced to play deadly children’s games for money, has become a viral sensation.
Squid is what is known as a “play-to-earn” cryptocurrency, where people buy tokens to play in online games where they can earn more tokens. These can then be exchanged for other cryptocurrencies or fiat money.
The news comes as cryptocurrency; Shib experiences another great trading week
Known as the ‘DogeCoin Killer’ – SHIB coin continues to shake up the world of cryptocurrency.
According to CoinGecko, the cryptocurrency hit a record of US$0.00008088 – which is an improvement of 140 million per cent compared to its low last year in November.
While the current price might not seem like much – it is a massive rise since the coin first listed in August 2020 at US$0.000000000972.
Shiba Inu Coin was created in August 2020, and has gained popularity around the world – particularly within India.
Created by an anonymous person who called themselves “Ryoshi” – the digital coin was intended to be a spin-off of dogecoin.
SHIB is now rivalling its predecessor for market cap after breaking the $US30 billion barrier.
The digital currency coin features the Japanese dog as its mascot, and is now nipping at the heels of Dogecoin, which sits in 10th place among cryptocurrencies for market cap at $US31 billion.
NEW SCAM – Bart Simpson draws the eyes of unassuming crypto investors
This image is doing the rounds for tricking unassuming Ripple investors
The image shows Bart Simpson scrawling XRP to hit 589 dollars by the end of financial year on his chalkboard.
A number of crypto outlets and Reddit posts are using the fake image as perhaps a sign of the show making another prediction.
Of course, the world’s most famous family has become known for predicting events like Donald Trump’s presidency.
It turns out the fake screenshot is from 2020 when a YouTube channel used it as a thumbnail.
SWIFT could soon be opening up with blockchain assets after new deal
SWIFT could soon open up even further with blockchain assets
The financial telco is teaming up with the blockchain oracle network, Chainlink.
The pair are working on a proof-of-concept, which would allow SWIFT to allow token transfers across a range of blockchain environments.
The company believes this will give financial institutions the chance to become blockchain-friendly, without higher costs.
It’s not the first time these two firms have worked together. In fact, another proof-of-concept around bond issuance was tested around five years ago.
We know how the crypto market will recover, but when?
$2.2 Trillion Institutional Crypto Price Prediction Reveals Bitcoin And Ethereum Could Be Poised For Recovery
The crypto market took a huge hit after the Federal Reserve’s announcement of quantitative easing, but one analyst is predicting that both bitcoin and ethereum could stage a recovery in the near future.
According to a report from investment firm JP Morgan, the two largest cryptocurrencies by market capitalization could see prices rise to $14,000 and $3,900 per coin, respectively.
This would represent a significant rebound from their current levels of around $10,000 and $200.
The report cites the recent influx of institutional investors into the crypto space as a key driver of this price growth.
With more and more big money players getting involved in crypto, JP Morgan predicts that the market could soon see a “new paradigm” of price discovery.
So far, crypto has been largely driven by retail investors, who are often more prone to emotional buying and selling.
With institutional investors coming in, there could be more stability in the market and less volatility.
JP Morgan’s report is just one of many bullish crypto predictions that have come out in recent months.
With more and more mainstream companies and financial institutions taking crypto seriously, it seems that the once-niche market is finally coming into the mainstream.
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