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Crypto trading face-off: Shiba Inu (78 million percent in a year) vs Koinos (535% in a month)

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The story of Shiba Inu (SHIB), crypto’s best-performer of the year, still boggles the mind — even after multiple retellings. Just 12 months ago, the price of one SHIB token had ten zeros in front of it: $0.000000000063 on volume of $682.58, according to CoinGecko.

By late October of this year, six of those zeros had gone and Shiba Inu had flippened Dogecoin to become the largest dog-themed token in the world, a top-ten cryptocurrency worth around $47 billion.

Despite dropping almost 40% from that all-time high, SHIB still sits at a market cap of almost $29 billion — making it almost 350 times more valuable than our contender, Koinos Network (KOIN).

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Koinos Network has been the best-performer of the week on the Cointelegraph Markets Pro data and intelligence platform, where the proprietary VORTECS™ Score served up a hugely bullish series of 90+ scores over the last two weeks.

Following those scores, KOIN soared from a previous high of around $0.22 to a recent high-water mark of $0.95 — still comfortably below a $100 million market cap.

What do these two projects have in common? Almost nothing… except their strong performances in the markets.

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So for crypto investors who can’t decide between canine memecoins and layer-1 blockchain platforms… here’s a tongue-in-cheek analysis of their comparative strengths.

Technology

Koinos is a foundational, or layer-1, smart contract blockchain platform that aims to deliver a variety of technical innovations. Firstly, it’s designed to be modular — meaning that it should be more easily upgradeable than current blockchains, and could potentially eliminate hard forks.

It is also built to be feeless, which the team claims will help onboard many more people to blockchain-based decentralized applications. And it has universal language support, a feature that may help more developers deploy those applications without learning a new skillset. It’s currently operating in the testnet phase.

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Shiba Inu has virtually no technical features that distinguish it from other memecoins, and its use-cases are essentially restricted to trading.

Winner: Koinos

Community

Shiba Inu has over 1.9 million followers on Twitter; a Reddit page with 425,000 members; and almost a million active wallets. Its followers are among the busiest in crypto and Cointelegraph can hardly publish an article on social media these days without a host of SHIB shillers leaping into the comments. The community is engaged, active… in fact downright rabid in their enthusiasm for all things Shiba Inu.

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Koinos has precisely 1,500 followers on Twitter at the time of writing, and its Discord channel mainly contains arcane discussions on microservice architecture.

Winner: Shiba Inu (by a mile)

Team

Koinos is being developed by the core team that previously worked on the STEEM blockchain, and who resigned en masse when that project was ‘acquired’ by Tron founder Justin Sun.

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Shiba Inu’s creator, Ryoshi (which is Japanese for ‘fisherman’) is a pseudonymous developer who insists that he, she, or they are not in charge of anything. Marketing appears to be a strong suit, however.

Winner: Koinos

Market Cap / Upside Potential

Koinos has a market cap of just over $83 million at the time of writing. Its entire supply of 99.5 million tokens is already in circulation, all of which were distributed during a ‘fair mining’ period during which anyone with a computer could mine KOIN ERC-20 tokens.

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Shiba Inu famously has a total supply of a quadrillion tokens, of which almost 55 billion are in circulation. With a market cap of almost $29 billion, it is currently the world’s 11th-largest cryptocurrency.

Upside potential is hard to judge, but Koinos is seeking to join the ranks of layer-1 platforms like Ethereum, Solana, Cardano and Polkadot, four of the world’s top tokens by market cap with a joint value of almost $750 billion.

If KOIN was to attain just 1% of Ethereum’s market cap, it would need to be worth $5.55 billion — in other words, it would have to multiply 6,687x from its current price.

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With no natural peers besides Dogecoin (sitting one place ahead of it at $34 billion in market capitalization) Shiba Inu’s most aspirational rival might be Bitcoin, with a market cap of $1.226 trillion. SHIB is already at over 2.3% of Bitcoin’s value, which appears to limit its potential upside. Indeed it might be argued that SHIB has already peaked.

Winner: Koinos (by a mile)

Liquidity

Unrealized gains are just that. With a trading volume in excess of $1.73 billion over the last 24 hours, SHIB token trades on the world’s top exchanges — including Binance, Coinbase, OKEx, Huobi, Bitfinex and KuCoin. It’s huge. It’s immense. It’s a monster.

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KOIN, however, is only available via Uniswap at the current time, where its volume over the last day is a paltry $283,000.

Winner: Shiba Inu

Fun

Shiba Inu allows holders to acquire massive stacks of tokens (millions and millions!) at low cost. Its community is enthusiastic and excitable, the memes are awesome, and as the ecosystem expands, more products and tokens (LEASH, BONE) help drive a feeling of inclusion and joy.

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And let’s face it, the dog’s damn cute.

Koinos is a serious, thoughtful, deeply technical blockchain with no cute and cuddly critters in sight. As an infrastructure project, its core features are entirely devoid of Japanese hunting dogs or indeed dogs of any kind. Shame on you.

Winner: Shiba Inu

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Risks

Shiba Inu has Elon Musk. When the world’s richest man tweeted that he owned no SHIB, the price dropped 20% in a day. And Vitalik Buterin was uninterested enough to donate the SHIB he was gifted (now worth $21 billion) with barely a second thought.

As a memecoin it can only be sustained as long as there’s interest. When that attention moves elsewhere, as it has done with numerous virally-driven cryptos and stocks this year, SHIB may find that it needs to add more bite to its bark.

Koinos may not deliver on the team’s ambitious goals. Or it may not find enough developers to sustain a healthy ecosystem. Or the world may simply decide that we have enough layer-1 blockchains right now, and keep plowing tens of millions into existing projects like Solana.

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Like any layer-1, Koinos will need both developer interest and killer dApps to rival the big players in the space. Neither of those is a given.

Winner: None

Final Score: Tie

While Koinos screams seriousness, Shiba Inu yaps fun — and in the strangest of years for investors, both of these tokens are finding audiences with whom their value proposition resonates.

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Whatever your crypto trading strategy — whether it be based on the fundamental strengths of a project’s technology or the immense power of its community — Cointelegraph Markets Pro can be a useful addition to your investing research toolbox.

Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.

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Square rebrands to Block, doubling its crypto focus

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  • Square is transforming to Block to elaborate its payment systems.
  • Despite the change, the company maintains its purpose of economic transformation.

Square(SQ) is rebranding to Block, Inc. The company wants to expand beyond its payment business. Several customers have embraced digital payments. The company based in San Francisco, California, was one of the leading firms last year. They intend to refocus on modern technologies such as blockchain.

The digital payments company announced on Wednesday. The company has been operating under the name Square, Inc.

Block, Inc will represent SQ’s corporate parent. The development comes as Square looks out to advance over its credit card-reader engagements. The company wants to pursue better innovations focusing on modern technology.

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Square to file with the SEC

According to the announcement, the name will be effective from 10th December. Square is required to fulfill legal requirements first. Then they must file with the Securities and Exchange Commission.

Despite the changes, Block will continue trading under SQ. The changes will be on its legal name and will distinguish the corporate entity from its businesses. Square will still be a section of the company assisting the community in processing payments.

Some of the brands under Square will still use their names and organization structures. Brands like Tidal service and Cash App will use their respective names. They will also maintain their organizational structure.

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However, Square Crypto is rebranding to Spiral to concentrate on BTC. Additionally, it will be tweeting under SpiralBTC. The company hopes it will continue to grow spirally. It will advance from one point, rounding up to touch everything.

Just recently, Jack Dorsey resigned from his role as the chief at Twitter. Several people speculated that he made the step to work on his company. Still, Dorsey had been under pressure to step down since several directors were concerned that he has alot going on. They thought he was overcommitted as the chief executive of two firms.

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Dorsey has a great fascination with digital assets and the future of blockchain technology. His Twitter bio only indicates “#bitcoin.” Additionally, Square has been running various projects involving bitcoin, including a hardware wallet for the cryptocurrency and a bitcoin mining system.

About two years ago, Dorsey said Twitter would be a decentralized network. With this, tweeps could make their algorithms. Moreover, they can moderate their communities.

Embracing digital assets

Presently the world is swinging to digital assets. Several firms have launched ICOs. At the same time, others have established their cryptos.

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Blockchain technology has become very popular as many view it as the future. Facebook recently rebranded to Meta to build a virtual world known as the metaverse. A couple of years ago, Google also rebranded to Alphabet. The American multinational technology company rebranded to reflect on incorporating other engagements to make their company better.

Now Square is following the other’s footsteps to represent their firm better. However, critics believe that most of these companies want to avoid regulatory scrutiny.

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5 Crypto Assets Are Set to Surge in First Quarter of 2022, According to Analyst Jason Pizzino

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Popular crypto analyst Jason Pizzino is detailing which altcoins he believes are primed to surge over the next few months.

First on Pizzino’s list is Curve Dao Token (CRV), the governance token for Curve Finance, a decentralized exchange for stablecoins. Pizzino tells his 244,000 YouTube subscribers that CRV’s Bitcoin chart looks bullish.

“Will it pump like The Sandbox? Probably not, because I don’t think the vision and the excitement and the hopes and dreams can be put into a DeFi project like they can with an NFT/gaming/metaverse project…

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But I think there are some big gains to be had in something that is wound up so tightly on a chart like this.”

CRV is trading at $4.73 at time of writing, down more than 4% in the past 24 hours.

Second on the analyst’s list is MATIC, the native token for the blockchain scaling solution Polygon.

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Pizzino says MATIC is just starting to “find its legs” after going sideways against Bitcoin. He notes that if the overall crypto narrative shifts to Ethereum (ETH), then Polygon looks good. MATIC is trading at $2.11 at time of writing, up more than 13% on the day.

His next pick is LUNA, the native token for the smart contract platform Terra. Pizzino, however, notes that he’s more bullish on CRV and MATIC than he is on LUNA.

LUNA is trading at $63.94 at time of writing, up more than 12% in the past 24 hours.

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The trader’s fourth pick is STX, the native asset for Stacks, an open-source blockchain network and Bitcoin developer project. Pizzino notes that Stacks is already breaking out and could see short-term gains.

“You want to see it stay in the all-time highs… Are they going to be as big as metaverse? I’ve already said that I don’t think so. But I want to look at something that’s going to move this quarter or next quarter.

Because I’m not sure of those larger-cap metaverse cryptocurrencies, because I think they may have had their move.”

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STX is trading at $2.70 at time of writing, down nearly 10% on the day.

Another of Pizzino’s picks is RUNE, the native asset for THORChain, a blockchain platform that aims to facilitate the secure and cheap transfer of assets between different blockchains.

Pizzino notes that RUNE has been making higher lows and higher highs against Bitcoin (BTC). The analyst says the asset also has to outpace Ethereum because it’s “the strongest player at the moment.”

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RUNE is trading at $10.68 at time of writing, down more than 7% on the day.

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South Korea: Crypto VC Giant Raises $200M After Postponement of Crypto Taxation

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After consistent efforts at crypto crackdown, South Korea appears to be gravitating towards a pro-crypto approach. The South Korean Crypto-focused Venture Capital firm, Hashed recently announced the launch of its $200 million fund, Hashed Venture Fund II, to invest in web3 oriented startups, which will incorporate metaverse, blockchain gaming, NFTs, and DeFi concentrated companies.

“We are radically optimistic about web3’s potential to restore trust and enable new kinds of governance where players collectively make critical decisions about how the metaverse should be defined”, TheBlock quoted Hashed.

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South Korea to Follow Crypto’s Global Growth

This fund is said to be a follow up of Hashed’s former web3 oriented fund, that amounted to approximately $120 million in just three months’ period, from its launch in September of 2020, to December of last year. Through Hashed Venture Fund I, the company made investments in blockchain and other technology startups to further promote protocol economy, designating an open economy underpinned by “independent” and “consensus-driven” protocols to facilitate direct rewards via digital assets. The idea of Web3 and crypto adoption is becoming more mainstream with each passing day. Not only the West, in fact countries across the globe are investing in, and embracing the benefits of the decentralized industry.

Last month, CoinGape reported on CB Insights’ data, revealing that the month of November alone exceeded $3 billion in venture capital funding into crypto and blockchain startups. Furthermore, the value of venture investments in the decentralized industry surged globally, from $3.1 billion in 2020, to $21.3 billion by November 30 of this year.

Earlier this week, South Korean authorities finally folded on its long-standing anti-postponement stance regarding the implementation of crypto taxation in the nation. The National Assembly of South Korea passed a bill on Tuesday to push back the implementation of crypto taxation to January 2023. Kim Young-jin, Chairman of the Tax Subcommittee also noted that imposing taxation on the crypto market without a clear government definition wouldn’t be a good idea.

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“There is an inconsistent system for imposing taxes without a clear basis on how to legally define cryptocurrencies in our system… but only in Korea does taxation come before regulation.”

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