Crypto News 11/1: Bitcoin is gradually becoming a less volatile and more stable asset class with news Ethereum, Shiba Inu, Dogecoin, Coinbase

From the perception that Bitcoin is becoming a more stable asset to the weekly Shiba Inu searches skyrocketing on Google. Here are some highlights from the crypto market.

Bitcoin news

According to Bloomberg, high volatility and constant price changes are two factors that attract investors to the crypto industry. But with the advent of institutional funds, Bitcoin is gradually becoming an asset class low volatility and more stable.

Previously, experts had “warned” traders that the term of Bitcoin would lead to a decrease in volatility. With massive institutional capital flowing into the market, Bitcoin’s 260-day volatility has dropped to 66, its lowest level since May when Bitcoin hit below $ 40,000.

Bitcoin volatility is decreasing | Source: Bloomberg

With lower volatility, the asset could also gain more recognition from traditional traders and investors, making Bitcoin’s correlation with the stock market even stronger.

With Bitcoin’s lower volatility, we can see even more similarities in the movements of these two markets.

PayPal co-founder regrets not having bought bitcoin soon.

According to Bloomberg, the billionaire co-founder of PayPal, Peter Thiel, confirm Bitcoin price hovering near the ATH level shows that inflation is indeed happening.

However, the tech mogul also regretted not having bought Bitcoin early when the price was still low.

Last month, Thiel described BTC as a “canary in a coal mine” and claimed it was an ominous sign for the current regime.

Ethereum news

The amount of money processed on the Ethereum network has skyrocketed, reaching $ 500 billion in the third quarter of 2021.

The volume of transactions processed by Ethereum from July to September this year reached $ 536.5 billion, an increase of 398% over the same period in 2020.

Total transaction fees paid to miners increased 511% year over year, which bodes well for miners. Network revenue for the period also hit the $ 1.96 billion mark, up from $ 321 million in the third quarter of 2020.

Also report Note that 68% of those charges were incinerated after the introduction of EIP-1559 in August. To date, more than 710,600 ETH have been burned, valued at around $ 3 billion.

News Shiba Inu

The data from Google Trends shows that retail investors are still entering the market but not looking for Bitcoin, Ethereum, Ripple or Binance Coin. They even forgot about the prominent coins in 2021 like Dogecoin and SafeMoon. Instead, they mainly looked for Shiba Inu.

Shiba Inu’s weekly searches skyrocketed earlier this year. This coincides with the recent boom in this project.

Shiba Inu’s weekly searches are skyrocketing | Source: Google Trends

SHIB was launched as a meme coin last year and has received strong support from private investors, including the giant SHIBArmy with hundreds of thousands of fans.

Shiba Inu appears in Times Square.

A giant digital billboard has appeared in New York’s Times Square promoting the Shiba Inu cryptocurrency.

The screen says, “We’ll be on the moon soon,” which is a phrase commonly used in the crypto community to refer to strong rallies.

https://twitter.com/ShibUpdates/status/1454824076472635393?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

The rapper FunnyMike enters the Shiba Inu market.

MacArthur Johnson, who goes by his nickname FunnyMike and is a rapper, comedian and vlogger, says he joined the Shiba Inu community.

According to a recent tweet, he spent $ 60,000 buying over 817 million SHIB tokens at current prices.

https://twitter.com/1funnymike/status/1454819856008818694?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener sponsored

Dogecoin news

Dogecoin’s market capitalization jumped $ 3 billion in minutes after Tesla CEO Elon Musk tweeted that the “University of His Imagination” would accept DOGE for tuition fees.

Musk also joked that students with dogs will get an extra discount on tuition.

https://twitter.com/tradingview/status/1454879550589095938?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

Coinbase news

New report from the San Francisco-based crypto exchange Coinbase Disclosure that their venture arm – Coinbase Ventures – closed a total of 49 investments in the third quarter of 2021, a new deal every two days on average, a sharp increase from the 28 investments in the previous quarter and 24 in the first quarter of the year.

In the third quarter, Coinbase Ventures invested in over 200 institutions and projects. Coinbase Ventures’ investments were unaffected by the market slump in the second quarter of this year. Despite the high price tag when FUD devoured the crypto market, Ventures remains one of the busiest venues in the US. The latest information also shows that 90% of the capital invested by Coinbase Ventures has been used by 2021.

Coinbase users have been scammed with over 200 BTC.

A U.S. federal judge intervened in a previously filed case in which Coinbase users lost around $ 11.6 million after an account hack in April.

California’s Central District Court judge Dolly M. Gee has approved an order to reclaim over $ 600,000 worth of bitcoins from the wallet, according to an update from Business Insider on the matter Wallet was part of the stolen money. The report notes that Huobi also agreed to assist the court with the forfeiture of property.

https://twitter.com/_MCP_signals/status/1455116788748935176?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

According to court documents, in April a Coinbase user abbreviated as GR was informed that their account was suspended shortly after completing a 200-bit purchase and instructed to contact a phone number via notification.

However, the message is fake and when the user contacts the phone number these people trick them into giving them remote access to the account and taking over any recently purchased assets.

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