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Floki Inu, a meme coin birthed by fans and the SHIB community, has joined the class of rising coins. The meme coin has seen tremendous performance over the past few hours after its governing DAO issued an important developmental proposal. 
The coin is a strict Shiba Inu competitor, hence the name “Shiba Inu-Killer.” Being the people’s cryptocurrency (governed by a decentralized autonomous organization), Floki received a community proposal to burn an enormous number of its circulating tokens. After the proposal issuance, FLOKI saw a massive price increase of 25%. 

Reason Behind Floki Inu Performance
Initially, Floki Inu’s developers proposed a change in governance that would sweep out nearly $55 million worth of FLOKI from circulation. They also want to reduce the tax that users pay for transacting on the network. Finally, the proposal cited potential safety hazards associated with bridges as an additional reason to burn so many tokens.
Reports stated that over $2 billion either got misplaced or stolen from cross-chain bridges alone in 2022. Therefore, the safety reason cited by the developers is valid. 
Token burn is a means by which blockchain developers remove some coins permanently from circulation. It aims to reduce the total circulating token supply and increase the asset’s value, provided demand does not change. 
The proposal stated that news of hack exploits indicates the risks from cross-chain bridges, especially ones with a large amount of tokens supply. It also said that any attack on Floki Inu’s primary cross-chain bridge would have a tremendous impact on the project. 
The fact that the said bridge holds 55.7% of FLOKI’s entire circulating supply is even more reason to consider the proposal. Moreover, if bad players exploit the vulnerability, it would see the sweeping of Floki Inu’s liquidity pools and consequently crush the project. 
According to the report, Floki Inu first performed its token minting on Ethereum, with a total supply of 10 trillion FLOKI coins. Later, in response to the community’s request, they moved the minting site to the BNB chain in 2021, making the process faster and cheaper.
Following historical data, token burns often raise an asset’s value by reducing the number of tokens in circulation, thereby making the token scarce. 
Most tokens, like Shiba Inu, BNB, etc., undergo burning. Even Shiba Inu experienced a significant rally a few days ago when the token burn surged 613%. The high expectation of an increase in value after the proposed token burn could be the reason behind the recent price surge.
Floki’s Price Outlook
Due to the growing bullish sentiment surrounding the token, its market cap and 24-hour trading volume have increased by 20%. Floki Inu’s market cap is currently $118 million, while its trading volume is $4 million. The rising market capitalization and trading volume indicate a growing interest in the FLOKI market.

Floki Inu is trading at $0.00001694 with a low of $0.00001350. The token has seen significant rallies like most cryptocurrencies this year.

Floki Inu has seen a 7-day price rise of 26%, a 51.1% 14-day rally, and a 53.2% 30-day surge. If the proposed token burn happens, FLOKI might see more push in the coming days.
Featured Image from Pixabay, Charts by Coinmarketcap


Floki Inu, a meme coin birthed by fans and the SHIB community, has joined the class of rising coins. The meme coin has seen tremendous performance over the past few hours after its governing DAO issued an important developmental proposal.  The coin is a strict Shiba Inu competitor, hence the name...

bitcoinist.com

Floki Inu (FLOKI) Gains Momentum – Here’s Why

Pseudonymous Coin Bureau host Guy is expressing bullish sentiment toward the leading smart contract platform Ethereum (ETH).
Guy tells his 2.21 million YouTube subscribers that Ethereum is likely to see a higher price this year after rallying by over 55% from its 2022 low.

According to the popular crypto analyst, ETH’s deflationary nature, brought about by its switch to a proof-of-stake consensus mechanism last year, could potentially trigger a new record high for the second-largest digital asset by market cap during the next bull cycle.
“I think it’s likely we will see a higher ETH price by the end of the year. And in the throes of the next bull run, it seems entirely realistic that deflation should force ETH above its all-time highs.”
Ethereum, which hit an all-time high of around $4,900 in November of 2021, is trading for $1,575 at time of writing.
On the risks that Ethereum faces, Guy says,
“There are a number of risks that lie ahead [for Ethereum].
Firstly, there’s the general crypto and macro environment. As impressive as Ethereum’s upgrades are, they won’t move the price if the broader environment is in the toilet. Although markets have improved more recently, I think it’s a bit premature to expect this rally to continue unabated.
There are broader concerns around ETH’s regulatory status too. While I think that a security designation is unlikely, it’s a tail risk we have to account for.
And another tail risk is of course centralization…
I’m also not oblivious to the fact that Ethereum has competition from other layer-1s. Many are well-funded and are growing out their ecosystems.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post 200% Ethereum (ETH) Explosion Is Entirely Realistic, According to Coin Bureau – Here’s When appeared first on The Daily Hodl.


Pseudonymous Coin Bureau host Guy is expressing bullish sentiment toward the leading smart contract platform Ethereum (ETH). Guy tells his 2.21 million YouTube subscribers that Ethereum is likely to see a higher price this year after rallying by over 55% from its 2022 low. According to the popula...

dailyhodl.com

200% Ethereum (ETH) Explosion Is Entirely Realistic, According to Coin Bureau – Here’s When

PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/USDT trading pair is now officially available for trading.
With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and assets with cutting-edge technologies that have the potential to transform various industries and allow people to adapt crypto assets. Its native token GDCC will be listed on LBank Exchange at 8:00 UTC on January 27, 2023, to further expand its global reach and help it achieve its vision.
Introducing Global Digital Cluster Coin
Global Digital Cluster Coin (GDCC) is a new-age protocol that caters to web3.0 services and community-driven technology, allowing users to build their dApps and serving as a hub for digital assets, international payments, and applications. Because the protocol is open to all, anyone in the world with an internet connection can access the system at any time.
As a peer-to-peer network that allows users to conduct transactions directly with the person in question, GDCC eliminates the need for intermediaries. Because no entity or institution controls it, no one can impose restrictions on the process of receiving payments or using on-chain services.
On Global Digital Cluster Coin, blockchain developers can create a wide range of applications, including decentralized applications and wallets. Utility applications have unlimited privileges because the network allows them to deploy and execute smart contracts.
Global Digital Cluster Coin will also launch its own decentralized exchange, to provide direct custody of funds to users. Hopium, GDCC’s decentralized exchange, will provide a seamless and hassle-free crypto trading experience to its community as a protocol developed by the community for the community. Because of the non-custodial nature, users will be fully responsible for all of their funds/transactions, and the platform will not interfere at any cost.
The platform uses the Automated Market Maker model, which is made up of self-executed protocols capable of managing the liquidity pool on its own. These pools will be supported by liquidity providers, who will provide the tokens used to create the pairs. These liquidity providers will be compensated with “liquidity tokens” based on their contribution to the liquidity pool. These liquidity tokens can also be redeemed for the underlying shares.
The GDCC’s Muzella platform, as a creator-centric marketplace, provides wonderful opportunities for creators by acknowledging their masterpieces. Users will be able to mint NFTs, and the marketplace gives users immutable ownership rights to the NFTs they hold. The platform also enables users to trade NFTs instantly, ensuring a high level of liquidity for holders. The marketplace will have an exclusive collection of rare and branded NFTs that will add unique value to the portfolio of the holder. In addition, users can connect to different blockchain networks with the help of cross-chain functionality.
Last but not least, as a compatible network, GDCC enables users to create tokens. To create their own token, issuers must provide a token name, total token supply, the exchange rate to GDCC, market cap, circulation duration, description, website, frozen token quantity, and so on. The GDCC-20 standard is the technical standard for smart contracts that generate tokens that are compatible with the GDCC virtual machine. This standard is compatible with the GDCC-20 token standard used by GDCC.
 
About GDCC Token
Global Digital Cluster Coin (GDCC) is a blockchain-powered platform with its own cryptocurrency, GDCC. This distributed ledger technology makes the platform secure, transparent, and immutable, allowing GDCC to accumulate value.
GDCC has a maximum supply of 7 million (i.e. 7,000,000), total supply of 1.9 million (i.e. 1,900,000) tokens. 50 % of GDCC Miner fee is distributed to Locked staking holders and 50% will be for the development of the ecosystem Pool. From Ecosystem Development Pool up to 10 % will be burnt when the total supply reaches 1.2 million (I.e. 1,200,000) GDCC. It will be the First Blockchain to be managed by the public with no individual entity, company or group holding any coins. This will undoubtedly make GDCC Deflationary.
GDCC token has been listed on LBank Exchange at 8:00 UTC on January 27, 2023, investors who are interested in the Global Digital Cluster Coin investment can easily buy and sell GDCC token on LBank Exchange now. The listing of GDCC token on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
Learn More about GDCC Token:
Official Website: https://www.gdccoin.io/
Explorer: https://www.gdccscan.io
Telegram: https://t.me/GDCC_official
Twitter: https://twitter.com/cluster_coin
 
About LBank
LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute the global adoption of cryptocurrencies.
Start Trading Now: lbank.com
Community & Social Media: 
l Telegram
l Twitter
l Facebook
l LinkedIn
l Instagram
l YouTube
 
Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
marketing@lbank.info
business@lbank.info
 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.



PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Globa...

news.bitcoin.com

Global Digital Cluster Coin (GDCC) Is Now Available on LBank Exchange

More troubles for South Korean crypto exchange Bithumb brews as its offices were reportedly raided on Thursday.
Authorities launched an investigation into potential price manipulation of a coin listed on the platform, according to a report by Yonhap. The token in question has not been revealed.
Prosecutors said they are probing transactions linked to a specific person or entity allegedly manipulating the coin’s price to make a profit. In a statement, the Seoul District Prosecutor’s Office said,
“This is a search and seizure to secure the transaction details of a specific coin, and it has nothing to do with Bithumb.”
In addition to Bithumb, the prosecutors are planning to look into the transaction details at other crypto exchanges where the token is listed.
Founder’s Arrest
The latest development comes just days after South Korean authorities requested an arrest warrant for Kang Jong-Hyun, Bithumb’s chairman and owner, over embezzlement allegations. Two other executives, including his younger sister, Kang Ji-Yeon, the CEO of two publicly traded Bithumb affiliates – Inbiogen and Bucket Studio -were also accused of embezzlement, breach of trust, and illegal transactions.
The Seoul Southern District Prosecutor’s Office alleged that the executives had swindled company funds and conspired to manipulate stock prices.
Bithumb is one of five remaining crypto exchanges in the country following an industry-wide crackdown in 2021 which led to the shutdown of nearly 70 local trading venues that failed to meet regulatory requirements. Several of its executives have faced serious charges in recent years.
In December, the crypto exchange’s largest shareholder, Park Mo, was found dead outside his home after being framed by the Kang siblings as a suspect in prosecutors’ investigation into the alleged embezzlement and stock manipulation. Mo was arrested for allegedly destroying evidence prior to a prosecution search. Several local media reports suggest that the exec took his own life.
Tax Fraud Charges
In yet another separate probe, the South Korean National Tax Service (NTS) launched a “special tax investigation” against Bithumb Korea and Bithumb Holdings and its affiliates for potential tax evasion via domestic and international transactions.
Bithumb was subjected to tax investigation for the second time after 2018 when it was slapped with a multi-million-dollar bill for back taxes, even as the investigation found the company not guilty of tax evasion.
The post Bithumb Offices Raided as Legal Woes Pile up (Report) appeared first on CryptoPotato.

The raid centers around suspected price manipulation of an unidentified coin.  

cryptopotato.com

Bithumb Offices Raided as Legal Woes Pile up (Report)

As of writing, Shiba Inu has been up 41% in the monthly time frame. This rally is being boosted by the renewed investor sentiment in cryptocurrencies which led to major cryptocurrencies like Bitcoin and Ethereum regain ground lost when FTX collapsed. 
SHIB is one of those tokens that has climbed hard because of its high correlation with Bitcoin and Ethereum. Along with the news of the token’s network upgrade being hyped up, SHIB’s rise is a sure win for investors and traders. 

However, the token has recently entered a sideways market movement ahead of its Shibarium upgrade. Can Shiba Inu continue its rally or will it experience pain? 
SHIB Compared To Other Meme Coins
The token compared to other meme coins can be summarized into two words; second best. According to The Gem Hunters, a crypto research Twitter account, Shiba Inu is second in terms of social score, only behind DOGE by a few percentages. At its current market cap of $6.8 billion, it is behind DOGE by $5 billion. 

TOP 10 MEME TOKENS BY SOCIAL SCORE
26.01.2023
1⃣ $DOGE
2⃣ $SHIB
3⃣ $QUACK
4⃣ #BABYDOGE
5⃣ $FLOKI
6⃣ $CATE
7⃣ $RABBIT
8⃣ $TSUKA
9⃣ $KIBA
 #VOLT2 pic.twitter.com/2d8rQ1KNfq
— The Gem Hunters.  (@TheGemHunters) January 26, 2023

This can be a sign that the supposedly DOGE-killer still has a long way to go in dethroning the king of meme coins. But 2023 might be the year SHIB dethrones DOGE in terms of social dominance. Recent news shows that Kusama recently confirmed a 3 trillion burn, marking the end of one of the ecosystem’s goals. 

Shytoshi also recently teased the release of the network upgrade, calling Shibarium’s launch “soonauryish” which may indicate that the upgrade is going to happen before the start of February. However, SHIB’s sideways movement is a threat to its long-term prospects. 
Shiba Inu Might Face Pain On These Levels
The token’s stagnating market movement is the result of investors and traders exercising caution. This profit-taking opportunity has already passed and the SHIB bulls are fighting back. If the token can close today’s trading day in a green candle, SHIB might have a chance to retest $0.00001192 resistance. 

But with the token still experiencing volatility in the short to medium term, we might see bears retest $0.00001117 support. However, the Shiba Inu Shibarium upgrade might give the token some breathing room in these levels. 



If ever the token fails to move past $0.0000117, the bears will have a field-day to claw towards $0.00001038 support. Investors and traders should then watch the $0.00001117 support as this could lead to further pain in the market. 
Monitoring the major cryptocurrencies could also benefit Shiba Inu holders as the token has a high correlation with them. For now, investors and traders should defend the token’s support as this is crucial for SHIB. 
Featured image by Change.org


As of writing, Shiba Inu has been up 41% in the monthly time frame. This rally is being boosted by the renewed investor sentiment in cryptocurrencies which led to major cryptocurrencies like Bitcoin and Ethereum regain ground lost when FTX collapsed.  SHIB is one of those tokens that has climbed ...

Lance Coin price	$3.37
Low - High 24H	$3.36 - $3.40
Market cap	N/A
Volume 24H	$64,503.00
All time high	$19.16 -82.46% November 12th 2021
All time low	$0.002623 128036.27% October 1st 2021
Genesis date	N/A

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