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According to CoinMarketCap, the Shiba Inu (SHIB) price is up nearly 29.32% since last week, outperforming the rest of the top 20 largest cryptocurrencies by market capitalization in weekly gains. However, Uniswap leads overall with a 36.72% weekly gain.
Shiba Inu rallied nearly 45% on June 21 to reach highs of $0.000012. Shiba Inu had trimmed off daily gains at a trading price of $0.00001 at press time. However, it remains up on a seven-day basis. This comes as the crypto market faces fresh selling pressure amid growing recession fears. Uniswap AMM protocol is up 11.21% in the last 24 hours. As shared on its Twitter handle, Uniswap has moved to acquire Genie, an NFT marketplace aggregator, thus expanding its products to include both ERC-20s and NFTs.
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Cryptocurrency Now Accepted by Swiss Luxury Maker Hublot in US Stores
Swiss luxury watchmaker Hublot has stated that its newly released 200 limited-edition watches can now be bought online using cryptocurrencies such as Shiba Inu and Bitcoin via BitPay. This means of payment is exclusively limited to customers of the Hublot United States eBoutique, it stated in a tweet.
Crypto payments processor BitPay officially announced support for meme cryptocurrency Shiba Inu in late 2021, which allowed spending SHIB at hundreds of BitPay merchants where Shiba Inu is accepted. Aside from Shiba Inu, BitPay also supports other cryptocurrencies like Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin, Wrapped Bitcoin and the five other USD-pegged stablecoins (BUSD, DAI, GUSD, USDC and USDP).
KuCoin Exchange Leverages New Brazilian Central Bank Policy And Takes The Lead
KuCoin – the world’s five-largest cryptocurrency exchange – has announced that it has officially become the first major crypto service provider to support deposits and withdrawals using the Brazilian Real (BRL). The introduction comes shortly after the new policy of the Central Bank of Brazil came into force.
The KuCoin exchange has partnered with Brazilian payment gateway Capitual in the strive to allow local users to make BRL deposits and withdrawals using the government-backed PIX payment system. The move makes KuCoin the first crypto exchange on the market to empower investors from Brazil with such BRL payment channels. “As crypto going to the mainstream, fiat to crypto service remains the biggest barrier to onboard more adopters.
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El Salvador president addresses bear market concerns with Bitcoin hopium
El Salvador introduced BTC as legal tender on September 7, 2021, when its market price was around $50,000. Ever since, Bukele’s government made significant returns on their initial BTC investments as Bitcoin rallied to its all-time high of $69,000, which was redirected to the country’s various infrastructure development initiatives.
The advice received mixed reactions from the community as many pointed out the fact that El Salvador procured most of its BTC at a much higher price than the current market value. While critics expect BTC and other cryptocurrencies to continue on the downward trend, on-chain analytics signal the oncoming of Bitcoin’s reversal back to its former glory.