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Is Shiba Inu Still a Ticket to Crypto Millionaire Status?

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Is Shiba Inu Still a Ticket to Crypto Millionaire Status?

Is It Possible to Become a Millionaire with Shiba Inus?

Shiba Inu (SHIB 1.49%) has produced several millionaires in the past. In 2021, the well-known meme token had an approximate 45,000,000% increase. As Shiba Inu’s value surged, an increasing number of investors gravitated into this cryptocurrency, hoping to become wealthy as well.

Let’s start by discussing Shiba Inu’s recent, remarkable rise to fame. In August 2020, a mystery inventor going by the name Ryoshi launched Shiba Inu.

According to its whitepaper, the token was created as an “experiment in decentralized spontaneous community building.” And it’s been really successful in those senses. Devoted supporters, known as the Shib Army, have backed Shiba Inu on social media and think the coin has the potential to revolutionize the cryptocurrency industry.

You may be wondering now what makes Shiba Inu different from the multitude of other cryptocurrencies available. That’s not much, to answer. And that is the main issue with Shiba Inus. Essentially, the cryptocurrency is an Ethereum-based payment token. In order to create passive income, investors can also stake their holdings.

Therefore, in comparison to blockchains that provide a multitude of applications, such as the development of decentralized apps (dApps) and non-fungible tokens (NFTs), Shiba Inu doesn’t seem all that intriguing.

But there’s more positive news on the way. With the upcoming introduction of Shibarium, a layer-2 solution, Shiba Inu plans to liberate the coin from some of the constraints it now suffers on Ethereum. Shibarium is expected to enable consumers to create chain-specific NFTs and produce Shiba Inu more quickly and affordably. Additionally, Shibarium will increase Shiba Inu’s visibility in the metaverse and gaming apps.

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Over the past year, Shiba Inu has repeatedly postponed the release. However, some people claim that the Shibarium beta might go live as early as next week. A possible launch may provide Shiba Inu with an immediate boost.

Let’s discuss how investing in Shiba Inus can increase your chances of becoming a billionaire. Indeed, Shiba Inu ought to be a more valuable asset now that Shibarium has been launched than it was during its 2021 boom. However, that does not imply that Shiba Inu will even approach to duplicate such gains.

In 2021, the market for cryptocurrencies surged beyond US$3 trillion as a result of investor interest in this promising emerging industry. Investors may view cryptocurrency participants more critically in the future and in the present. The cryptocurrency that wins will probably stick out from the competition.

Regarding Shiba Inu in particular, the cryptocurrency has two issues: the previously noted problem of restricted usage and an even more serious one that might prevent it from making substantial progress. That is an enormous amount of tokens. Efforts to burn coins could not even be sufficient to make a dent in the about 549 trillion supply.

Of said, Shiba Inu, which is now selling at a penny on the dollar, may yet increase in value to give investors who purchase a sizable share in the token a respectable return. However, I don’t think a possible gain would endure, and I advise against buying a sizable investment in a hazardous asset like Shiba Inus.

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Shiba Inus isn’t the greatest option for a “make-me-a-millionaire” portfolio because of all of this. Investing in a selection of reliable equities and potent cryptocurrencies that stand out from the crowd is a superior strategy. Not even this will ensure millions. However, it ought to put you on the correct path for long-term, substantial gains.

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India Cryptocurrency Markets, Competition, Forecast & Opportunities, 2029F Featuring Prominent Platforms – WazirX, CoinSwitch, ZebPay, and Unocoin

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India Cryptocurrency Markets, Competition, Forecast & Opportunities, 2029F Featuring Prominent Platforms – WazirX, CoinSwitch, ZebPay, and Unocoin

DUBLIN, Feb. 22, 2024 /PRNewswire/ — The “India Cryptocurrency Market, By Region, By Competition Forecast & Opportunities, 2019-2029″ report has been added to  ResearchAndMarkets.com’s offering.

The India Cryptocurrency Market was valued at USD 221.5 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.75% through 2029, reaching USD 326.6 million.

The India cryptocurrency market has witnessed significant growth and evolving dynamics in recent years. Cryptocurrencies, digital or virtual assets designed to work as a medium of exchange, have gained prominence among investors, traders, and the general public in India. The India cryptocurrency market has experienced remarkable growth in terms of adoption and trading volumes.

Several factors have contributed to this growth, including increasing awareness, a tech-savvy population, and the potential for high returns on investments. The regulatory landscape for cryptocurrencies in India has been a subject of debate and change. In early 2020, there was uncertainty surrounding the legal status of cryptocurrencies, as there were concerns about their potential use for illicit activities. However, in March 2020, the Supreme Court of India lifted the banking ban imposed by the Reserve Bank of India (RBI) on cryptocurrency transactions, providing a significant boost to the market.

Despite this, the regulatory environment remained fluid, with discussions on potential cryptocurrency regulations ongoing. The Indian government was reportedly considering a bill to regulate cryptocurrencies, but the specifics of the regulations were not clear as of my last knowledge update.

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India has seen the emergence of numerous cryptocurrency exchanges and trading platforms. Some of the prominent platforms include WazirX, CoinSwitch, ZebPay, and Unocoin. These platforms allow users to buy, sell, and trade a variety of cryptocurrencies, catering to both beginners and experienced traders.

Cryptocurrencies have garnered substantial interest from Indian investors and traders. Many individuals and institutional investors have started diversifying their portfolios by including cryptocurrencies as an asset class. Bitcoin and Ethereum have been particularly popular choices among Indian investors.

The India cryptocurrency market is poised for further growth and maturation. The regulatory landscape will likely play a crucial role in shaping the market’s future. Clarity in regulations and investor protection measures could attract more participants and capital into the market. As cryptocurrencies become more integrated into the global financial ecosystem, India will likely continue to be a significant player in the space, with the potential for increased adoption and innovation in the years ahead.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India cryptocurrency market.

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  • Intel Corporation India Private Limited
  • NVIDIA Corporation
  • Microsoft Corporation India Pvt Ltd
  • Xilinx India Private Limited
  • Advanced Microdevices Pvt. Ltd.
  • Amazon India Pvt Ltd.
  • Unocoin
  • BitGo
  • Coinbase
  • Ripple Labs Private Limited

Report Scope

India Cryptocurrency Market, By Type:

India Cryptocurrency Market, By Process:

India Cryptocurrency Market, By Offering:

  • Bitcoin
  • Etgereum
  • Bitcoin Cash
  • Ripple
  • Dashcoin
  • Litecoin
  • Others

India Cryptocurrency Market, By End User:

  • Banking
  • Real Estate
  • Stock Market
  • Virtual Currency

India Cryptocurrency Market, By Region:

For more information about this report visit https://www.researchandmarkets.com/r/yritw

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Research and Markets
Laura Wood, Senior Manager
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KAKAUE: Building the Future of Finance, Redefining the New Frontier of Cryptocurrency Trading

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KAKAUE: Building the Future of Finance, Redefining the New Frontier of Cryptocurrency Trading

New York, NY, Feb. 22, 2024 (GLOBE NEWSWIRE) — KAKAUE Exchange recently announced a significant brand upgrade, aimed at enhancing the experience of cryptocurrency traders. As a leading platform in the field of cryptocurrency trading, this upgrade symbolizes KAKAUE’s entry into a new era, promising to provide a secure and efficient trading environment for its users, helping them to maintain a leading position in the market consistently.

To address the ever-changing market environment and meet the growing needs of users, KAKAUE has launched a new brand strategy. This move aims to broaden its target user base and enrich its product and service system. KAKAUE pays special attention to lowering the barriers to crypto trading, providing an easy-to-use trading environment for beginners. Currently, KAKAUE is actively expanding its market influence by introducing a series of innovative features based on cutting-edge technology, catering to the needs of various user groups.

In addition to quality services, KAKAUE also focuses on establishing strategic alliances with global leading partners. Collaborations with several industry giants have enabled KAKAUE to make significant progress in market expansion, technological innovation, and user experience optimization.

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As an international trading platform, KAKAUE is committed to breaking down geographical boundaries and wealth barriers in financial services, promoting equality and transparency in global finance. Employing top-tier security and risk control systems and advanced distributed architecture, KAKAUE provides solid protection for user assets, ensuring comprehensive security for transactions and stable operation of the platform.

Looking to the future, KAKAUE aims to become a leader in the global cryptocurrency trading market. The platform will continue to drive technological innovation and expand services to adapt to the growing needs of global users. At the same time, KAKAUE plans to strengthen cooperation with global partners to jointly advance the development of the cryptocurrency industry, providing a safer, more efficient, and innovative trading environment.

KAKAUE not only demonstrates an innovative spirit in the field of cryptocurrency trading but also becomes a pioneer in financial transformation. Through continuous technological upgrades, offering diversified trading options, practicing financial inclusivity, and developing a comprehensive product ecosystem, KAKAUE is leading cryptocurrency trading into a new, safer, and more efficient era.

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

Pansy KA
KAKAUE Blockchain Service inc.
support(at)kakauev.com

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Source: KAKAUE

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Money laundered through cryptocurrency reached $22.2 billion in 2023 – Report

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Money laundered through cryptocurrency reached $22.2 billion in 2023 – Report

A report by blockchain research platform, Chainalysis, has revealed that a total of $22.2 billion was laundered globally through different cryptocurrency exchanges in 2023.

The report, however, indicated that this was a significant decrease from the $31.5 billion laundered through digital currency in 2022.

According to the report, the drop could be attributed to an overall decrease in crypto transaction volume, both legitimate and illicit.

Several industry experts have argued that the anonymity of trades on blockchain technology makes it a veritable tool for money laundering. This has led to repeated calls for crypto regulation in Nigeria by stakeholders.

Destination of the funds

Chainalysis in the report noted that centralized exchanges have been the primary destination for funds sent from illicit addresses, at a rate that has remained relatively stable over the last five years.

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  • “Over time, the role of illicit services has shrunk, while the share of illicit funds going to DeFi protocols has grown.
  • “We attribute this primarily to the overall growth of DeFi generally during the time period, but must also note that DeFi’s inherent transparency generally makes it a poor choice for obfuscating the movement of funds,” it said.

The company observed that 2023 mostly resembled 2022 in terms of the breakdown of service types used for money laundering, but saw a slight decrease in the share of illicit funds moving to illicit service types, and an increase in funds moving to gambling services and bridge protocols.

  • “If we zoom in to look at how specific types of crypto criminals laundered money, we can see that there was in fact a significant change in some areas. Most notably, we saw a huge increase in the volume of funds sent to cross-chain bridges from addresses associated with stolen funds.
  • “We also observed a substantial increase in funds sent from ransomware to gambling platforms, and in funds sent to bridges from ransomware wallets,” it added.

Deposit addresses

Examining the money laundering concentration at the deposit address level (deposit addresses are addresses at centralized services associated with individual users —akin to bank accounts) Chainalysis said 109 exchange deposit addresses received over $10 million worth of illicit cryptocurrency each, and collectively, they received $3.4 billion in illicit cryptocurrency in 2023.

  • “While that still represents significant concentration, in 2022, only 40 addresses received over $10 million in illicit crypto, for a collective total of just under $2.0 billion.
  • “In 2022, just 542 deposit addresses received over $1 million in illicit cryptocurrency, for a total of $6.3 billion, which was over half of all illicit value received by centralized exchanges that year.
  • “In 2023, 1,425 deposit addresses received over $1 million in illicit cryptocurrency, for a total of $6.7 billion, which accounts for just 46% of all illicit value received by exchanges for the year,” it said.

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