Bitcoin latest – Shiba Inu, Dogecoin and Ethereum cryptocurrency prices soar as new Coinbase rival Block.One emerges

DOGECOIN now has a legitimate rival in Shiba Inu coin after yet another price surge, experts are predicting.

The value of Shiba Inu is currently sitting at £0.000021 ($0.00003026), compared to a lower $0.0000006 in mid-April, according to CoinMarketCap.

At the time of writing, it’s up by almost 130% in 24 hours but it's obviously starting from a low number so rises will appear bigger.

In comparison, Dogecoin is currently worth £0.36 ($0.51) – up from £0.0070 ($0.005) at the beginning of the year.

A number of Dogecoin look-alikes have thrived thanks to the recent surging value of the Shiba Inu-themed coin.

Meanwhile although its being overshadowed in the cryptocurrency markets by Shiba Inu and Dogecoin buzz, the price of Ethereum is quietly surging as well, rocketing $4,000 per coin yesterday.

Read our cryptocurrency live blog below for the very latest updates…

  • Joseph Gamp

    MUSK ASKS TWITTER IF TESLA SHOULD ACCEPT DOGECOIN

    Billionaire Elon Musk asked his 54 million followers on Twitter “Do you want Tesla to accept Doge?” referring to a digital currency worth roughly 48 cents with no real-world use.

    The question, in the form of a Twitter poll, comes days after he called dogecoin a “hustle,” sending the meme-inspired cryptocurrency’s price reeling after a 700% rally in a month.

  • Joseph Gamp

    SPACEX VP ON USING DOGECOIN TO FUND MOON MISSION

    SpaceX vice president of commercial sales Tom Ochinero said in a statement that DOGE-1 “will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.”

    “We’re excited to launch DOGE-1 to the Moon!” Ochinero said.

  • Joseph Gamp

    ETHEREUM PRICE GOING UP

    Since it split into two, Ethereum has superseded Ethereum Classic with the former now having a market cap of roughly $400billion.

    In comparison, Ethereum Classic has one of around $16billion, according to CoinMarketCap.

    The Ethereum price is currently sitting at £2,491 ($3,468), compared to £101 ($141) for Ethereum Classic.

    The value of Ethereum Classic has rocketed by more than 700% in just a month though, and was worth £13.74 ($19.14) on April 7.

    The cryptocurrency is going up in value as it “plays catch-up with the wider markets”, Mr Green told The Sun

  • Joseph Gamp

    SHIBA INU COIN: 5 THINGS TO KNOW ABOUT THE NEW CRYPTOCURRENCY

    SHIBA Inu coins are one of the latest cryptocurrencies to hit the market – we round up five things you need to know.

    It comes as crypto fans are on the hunt for the next success story to follow Bitcoin.

    Read more here.

  • Joseph Gamp

    PETER THIEL BACKED COMPANY PALANTIR TECH NOW ACCEPTING BITCOIN AS PAYMENT

    Peter Thiel-backed U.S. analytics company Palantir Technologies Inc said on Tuesday it accepts bitcoin in payment from customers.

    The company also said it was considering having bitcoin or other types of cryptocurrencies on its balance sheet. 

  • Joseph Gamp

    FIVE RISKS OF CRYPTOCURRENCIES

    • Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements. 
    • Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
    • Product complexity: The complexity of some and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market. 
    • Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.  
    • Marketing materials: Firms may overstate the returns of products or understate the risks involved.

    WATCH: TIGER KING’S CAROLE BASKIN LAUNCHES $CAT COIN IN CRYPTO WAR WITH ELON MUSK AND DOGECOIN

    WHY WERE BINANCE WITHDRAWALS SUSPENDED ON MAY 10?

    Binance announced on Twitter that it had stopped withdrawals around lunchtime on May 10.

    The tweet said: “All withdrawals are temporarily suspended on #Binance. Rest assured our team is working on it. We apologize for any inconvenience caused and thank you for your patience.”

    Less than 30 minutes later, it then tweeted: “Withdrawals are now resumed.”

    If you tried to withdraw during that time, your request would’ve been added to a queue but it wasn’t processed until the issue was resolved.

    The platform didn’t give a reason for the suspension on Twitter, but its founder later told Bloomberg: “We sometimes have to do some system maintenance work.”

    EXPLAINED: WHAT IS BINANCE?

    Binance is a cryptocurrency exchange platform for trading various cryptocurrencies.

    As of last month, it was the world’s biggest bitcoin and altcoin crypto exchange by volume.

    Its users complete more than 1.4million transactions per second, according to its website.

    Binance was founded in 2017 by Changpeng Zhao, a Chinese-Canadian developer who had previously created high frequency trading software.

    The platform allows withdrawals in a wide range of currencies, including US dollars, Euros and British pounds. Its major rivals are Kraken and Coinbase – and the latter went public in the US last month.

    • Joseph Gamp

      MILEY CYRUS SAYS SHE DOESN’T UNDERSTAND DOGECOIN

      Elon Musk may have dubbed himself The Dogefather – but his SNL musical guest Miley Cyrus doesn’t have a clue when it comes to Dogecoin.

      The singer, 28, shared a tweet of her practicing her scales ahead of her Saturday Night Live performance – and poked fun at the complexities of the cryptocurrency.

      The virtual “money” started as an  parody more than seven years ago, according to CNN, but has since become a legitimate digital currency.

      Jackson Palmer, an Australian marketer, made a joke about combining cryptocurrency and the Doge meme in 2013, but that joke has taken on a life of its own: its market cap is now over $17 billion.

      Dogecoin is simply a digital coin with a picture of dog on it, according to CNET. That dog is the subject of an internet meme of a Shibe with an “inner monologue” featuring phrases like “so scare,” “much noble,” and “wow.”

    • Joseph Gamp

      MUSK ASKS TWITTER IF TESLA SHOULD ACCEPT DOGECOIN

      Billionaire Elon Musk asked his 54 million followers on Twitter “Do you want Tesla to accept Doge?” referring to a digital currency worth roughly 48 cents with no real-world use.

      The question, in the form of a Twitter poll, comes days after he called dogecoin a “hustle,” sending the meme-inspired cryptocurrency’s price reeling after a 700% rally in a month.

    • Joseph Gamp

      WHAT IS XRP?

      XRP is form of digital currency that can be used on the Ripple network. It can either be transferred between individuals or banks.

      For example, if you need to send euros to someone who uses dollars, the Ripple network would convert this into XRP.

      The key difference between the two is that XRP is a coin, while Ripple is a network that allows the transfer of money.

      The founders of Ripple created XPR before the company Ripple existed. 

      XRP has been used as a method of currency transfer through the network since 2012.

    • Joseph Gamp

      EXPLAINED: WHAT IS BITCOIN

      Bitcoin got you baffled? Here’s what you need to know:

      • Bitcoin is a virtual currency
      • It’s traded between people without the help of a bank
      • Every transaction is recorded in a public ledger, or “blockchain”
      • Bitcoin is created by mining
      • Mining involves solving difficult maths problems using computer processors
      • Bitcoin can be traded anonymously, which can make it a popular way of funding illegal activities
      • The value of Bitcoin fluctuates wildly
      • Bitcoin is one of many different cryptocurrencies but by far the most popular

      NEARLY $200BN WORTH OF BITCOIN AT RISK FROM THEFT – REPORT

      Approximately 3,480,000 out of the world’s mined 18.5million Bitcoin, stands vulnerable to attacks as a result of improper safekeeping, a report has highlighted.

      The report by Opimas LLC, a finance-based management consultancy firm, extensively covered the various institutional safekeeping gaps – capable of exposing owners of cryptocurrencies to coin theft.

      Opimas highlights in its report the need for the establishment of more middlemen in cryptocurrencies.

      These middlemen can exist in the form of institution-based custody solution providers, that is, the provision of solutions that help store, exchange, and hold cryptocurrency safely for big investors and corporations.

      PETER THIEL BACKED COMPANY PALANTIR TECH NOW ACCEPTING BITCOIN AS PAYMENT

      Peter Thiel-backed U.S. analytics company Palantir Technologies Inc said on Tuesday it accepts bitcoin in payment from customers.

      The company also said it was considering having bitcoin or other types of cryptocurrencies on its balance sheet. 

      • Joseph Gamp

        FIVE RISKS OF CRYPTOCURRENCIES

        • Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements. 
        • Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
        • Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market. 
        • Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.  
        • Marketing materials: Firms may overstate the returns of products or understate the risks involved.

        CRYPTO COIN

        Shiba Inu has surged in value by a further 13% over the last 24 hours after cryptocurrency exchange platform Binance listed it.

        The tokens which feature the same Shiba Inu dog as Dogecoin has been launched as crypto fans hunt for the next success story.

        At the time of writing, the cryptocurrency has jumped over the last 24 hours to $0.00001528 (£0.000011).

        This is on top of record-breaking gains the coin enjoyed yesterday when it soared by 130%.

        The spike came as Binance announced it would be listing Shiba Inu coins – which means buyers and sellers can trade these coins on the platform.

        But it is unclear if the new meme-themed coins are legitimate – which means your money is at higher risk and you’re more open to fall for a scam.

        WHAT IS BONFIRE?

        Bonfire is a cryptocurrency that launched as recently as April 18.

        According to its whitepaper, it operates in a similar way to Safemoon.

        This claims to reward people who buy and hold onto the cryptocurrency, while those who sell it will be slapped with a penalty.

        This is known as multi-level marketing or a pyramid selling scheme, and can sometimes be a sign of a scam and makes it a very high risk investment

        EXPLAINED: WHAT IS BINANCE?

        Binance is a cryptocurrency exchange platform for trading various cryptocurrencies.

        As of last month, it was the world’s biggest bitcoin and altcoin crypto exchange by volume.

        Its users complete more than 1.4million transactions per second, according to its website.

        Binance was founded in 2017 by Changpeng Zhao, a Chinese-Canadian developer who had previously created high frequency trading software.

        The platform allows withdrawals in a wide range of currencies, including US dollars, Euros and British pounds. Its major rivals are Kraken and Coinbase – and the latter went public in the US last month.

        MILEY CYRUS SAYS SHE DOESN’T UNDERSTAND DOGECOIN

        Elon Musk may have dubbed himself The Dogefather – but his SNL musical guest Miley Cyrus doesn’t have a clue when it comes to Dogecoin.

        The singer, 28, shared a tweet of her practicing her scales ahead of her Saturday Night Live performance – and poked fun at the complexities of the cryptocurrency.

        The virtual “money” started as an internet parody more than seven years ago, according to CNN, but has since become a legitimate digital currency.

        Jackson Palmer, an Australian marketer, made a joke about combining cryptocurrency and the Doge meme in 2013, but that joke has taken on a life of its own: its market cap is now over $17 billion.

        Dogecoin is simply a digital coin with a picture of dog on it, according to CNET. That dog is the subject of an internet meme of a Shibe with an “inner monologue” featuring phrases like “so scare,” “much noble,” and “wow.”

        MUSK ASKS TWITTER IF TESLA SHOULD ACCEPT DOGECOIN

        Billionaire Elon Musk asked his 54 million followers on Twitter “Do you want Tesla to accept Doge?” referring to a digital currency worth roughly 48 cents with no real-world use.

        The question, in the form of a Twitter poll, comes days after he called dogecoin a “hustle,” sending the meme-inspired cryptocurrency’s price reeling after a 700% rally in a month.

        • Niamh Cavanagh

          WHAT IS XRP?

          XRP is form of digital currency that can be used on the Ripple network. It can either be transferred between individuals or banks.

          For example, if you need to send euros to someone who uses dollars, the Ripple network would convert this into XRP.

          The key difference between the two is that XRP is a coin, while Ripple is a network that allows the transfer of money.

          The founders of Ripple created XPR before the company Ripple existed. 

          XRP has been used as a method of currency transfer through the network since 2012.

        • Niamh Cavanagh

          WHAT IS BITCOIN?

          Bitcoin got you baffled? Here's what you need to know:

          • Bitcoin is a virtual currency
          • It's traded between people without the help of a bank
          • Every transaction is recorded in a public ledger, or "blockchain"
          • Bitcoin is created by mining
          • Mining involves solving difficult maths problems using computer processors
          • Bitcoin can be traded anonymously, which can make it a popular way of funding illegal activities
          • The value of Bitcoin fluctuates wildly
          • Bitcoin is one of many different cryptocurrencies but by far the most popular

          IS BONFIRE RISKY?

          Investing in any cryptocurrency is essentially gambling and there are no guarantees that you will see what you pay in go up in value.

          It's a speculative investment, with limited track records and no underlying value. There is also no guarantee that you can convert crypto assests back into cash, as it may depend on the demand and supply in the existing market. 

          Plus, investing in newer cryptocurrencies rather than Bitcoin, for example, is even riskier and makes you more open to scams. Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, told The Sun the similarity to SafeMoon is a red flag.

          She said: "This should sound fresh alarm bells as the model appears to be geared towards helping early holders of the currency get rich, as others pile in after them, pushing the price up further.

          "But when demand flares so quickly, it’s just as to extinguish rapidly, leaving those who bought in late with their fingers burnt.

          "In this frenzied world of speculation it’s far from certain which of the thousands of coins and tokens will survive a market shakedown which could render crypto assets worthless."

          PETER THIEL BACKED COMPANY PALANTIR TECH NOW ACCEPTING BITCOIN AS PAYMENT

          Peter Thiel-backed U.S. analytics company Palantir Technologies Inc said on Tuesday it accepts bitcoin in payment from customers.

          The company also said it was considering having bitcoin or other types of cryptocurrencies on its balance sheet. 

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