NFT News by Thebittimes.Com

The past day has been quite action-packed. Initially, the cold war between FTX’s SBF and Binance’s CZ unfurled. The executive of the largest crypto exchange said that Binance was liquidating its FTT holdings, the native token of exchange FTX due to “recent revelations.” Then, simultaneously, firms started withdrawing Ethereum, and other altcoins from FTX. Read More: Firms are withdrawing Ethereum, Alts from FTX: Should investors panic? The said set of actions was enough to re-stir pessimism among community members. FTX’s native token was trading in red at press time, and so were other cryptos. As a result, the aggregate valuation of the crypto market registered a 24-hour dip of 2.7%. Whales and Shiba Inu Despite the fear, uncertainty, and doubt in the minds of market participants, Shiba Inu continued to be the top-held asset of the 2000 largest Ethereum whales . On Monday, the cumulative value of Shiba Inu tokens held by the said category of wha...

The price of meme coins, including Shiba Inu and Dogecoin, has been soaring over the last seven days. Analysts even claim that the bearish stance toward DOGE has ended. DOGE has spiked over 107% in the last seven days. SHIB was also putting on a decent show, with 26% gains during the same period. Alongside the price, the SHIB burn numbers have also been on the higher side. Over the last 24 hours, the SHIB burn rate has reached 1720%, according to the data was put out by CryptEye. The burn numbers are doing fairly well as compared to the first two weeks of October. However, at the time of writing, the burn numbers have fallen to three digits. Shiba Inu burn rate falls as the rally cools down As of now, Shiba Inu burn numbers have cooled down, as the rally seems to have settled. As per the data from Shibburn, the burn rate currently stands at 123.54%. 32,584,180 SHIB have been burned during this period. It should be noted that 32,584,180 SHIB has been sent to a dea...