Shiba Inu Adds 30K Holders in a Month – Crypto Forecast
Shiba Inu, a meme-inspired cryptocurrency, added more than 30,000 new owners in the last month. The price of cryptocurrency is declining as the SHIB burning rate rises. Shiba Inu now owns 1.169 million tokens on the Ethereum blockchain, according to blockchain data. That figure was about 1.134 million at the end of last month. More Ethereum wallets have added SHIB to their possession. Shiba Inu added tens of thousands of new owners despite the price drop. According to market data, the value of SHIB has fallen by 55% in the last 30 days. Influenced by the broader sales of the crypto market, exacerbated by the collapse of the Terra ecosystem.
New owners join the cryptocurrency community; At a time when the leading developer of SHIB “suggests that there will be an upcoming announcement that will shock everyone. The SHIB team recently revealed that entertainment industry veteran Marcie Jastrow has joined the Metaverse team and will be working on the “Shib: The Metaverse” project. It is worth noting that Marcie has over 20 years of experience working in the entertainment industry; Accordingly, he was an early pioneer of Immersive. According to reports, there were speculations that the deal would “disrupt the Internet in the past.”
Shiba Inu and Crypto Crisis
With the increase in the frequency of SHIB burns, new owners are also going on board. The Shiba Inu burn rate increased by 800% per day to 12.6 billion tokens earlier this week after the cryptocurrency burn portal started distributing $RYOSHI rewards for those who burn tokens. A meme-inspired cryptocurrency support team opened the burn portal on April 23rd. When the awards distribution begins, SHIBArmy will burn about $29.5 billion for SHIB. Since the distribution of awards began earlier this week, that figure rose to 51.5 billion tokens.
It is worth noting that the SHIB community has revealed through a series of polls that it supports the burning of tokens on Metaverse; As part of the project’s long-term strategy, Presumably, it believes that reducing supply in currency circulation is more profitable than its Metaverse. The acceptance of cryptocurrency was also increasing; New partnerships between major global restaurant software and Lavu and Verifone will allow thousands of restaurants in 65 countries to receive several crypto payment methods, including SHIB.
Paraguay Progresses Crypto Bill
Countries take cryptocurrencies more seriously. They are currently working on approving the legal framework for cryptocurrency, for example, as in the case of Paraguay, A country that cryptocurrency mining companies traditionally considered to be a mining refuge; Because cheap electricity will cost the country functions. A crypto bill approved in the Paraguayan House of Representatives will allow these companies more clarity.
The bill, approved by the Senate in December 2021, received 41 votes in favour and 11 against. Carlitos Rejala, one of the bill’s most prominent supporters, also mentioned this event on social media, saying it was a giant leap for Bitcoin in Paraguay. The Second House of Congress has just approved a bill to create a legal framework for bitcoin mining. 100% hydroelectric renewable energy.
The new bill stipulates that cryptocurrency exchanges will now be regulated as entities; Who are required to register their operations as Virtual Asset Service Providers with SEPRELAD, a money-laundering watchdog. P2P traders will also have to register their transactions, as this rule applies to any person or company; Which intends to manage, trade, exchange or hold crypto assets for a third party. This also includes crypto care companies.
Conclusion
Cryptocurrency mining will also benefit from this bill. This will regulate energy supply issues and tariffs that the government will be able to collect. This explains the activities that are not yet regulated in the country. The bill delegates these responsibilities to ANDE, the National Electricity Administration, which will determine the electricity rates in line with this bill’s mandate, According to which can not be more than 15% of industrial rates.
Now the bill will again be submitted to the county senate, which will have up to 90 days to consider the contents and suggest changes to the document’s structure. After that, if approved, the bill will be ready for presidential sanction.
