Vectorspace AI ([VXV](https://coinmarketcap.com/currencies/vectorspace-ai/)) is the native asset of Vector Space Biosciences, a project that aims to detect the hidden relationships in data to power and speed up novel discoveries, hypotheses, interpretations, and new insights in space to benefit humanity.  

Launched in 2018, the company comprises a network of bioscience and computational laboratories in addition to advisors from the extensive scientific field, including capital markets, general life sciences, and space biosciences. These experts share a common interest in the growing Machine Learning (ML) and AI sectors. 

VXV is the cryptocurrency that reflects the image of the company in the decentralized finance (DeFi) space. Over the past two years, the digital currency has not fared well compared to other [crypto ](/news/article/is-crypto-dead)assets, and it is not in good standing compared to other AI-powered tokens. 

Let us examine the possibilities of the asset and whether new partnerships can reflect positively on its value.  

## Is Vectorspace AI benefitting from partnerships? 

Yes, the digital currency has been benefitting from partnerships in 2023, although the gains have been short term. 

VXV has been on a downward spiral since it reached an all-time high (ATH) price of [$35.93](https://coinmarketcap.com/currencies/vectorspace-ai/historical-data/) during the peak of the markets in November 2021. 

VXV followed the rebounding of AI tokens in February after it rose to a yearly peak of $1.2627 on 7 February. At the time, the token had risen by 338% from its opening day price of $0.2884 on 1 January. 

Unfortunately, the digital asset is down by more than 70% from the year's high and up by 6% year-to-date (YTD). 

The decline in value YTD has come despite partnerships with some mainstream corporations.  

On 23 May 2023, Vector Space Biosciences announced that it has [partnered ](https://www.businesswire.com/news/home/20230523005963/en/Vector-Space-Biosciences-Oracle-Develop-Language-Models-to-Advance-Human-Spaceflight#:~:text=Vector%20Space%20Biosciences%2C%20along%20with,leverage%20advanced%20language%20modeling%20techniques%20%E2%80%93)with Oracle, a computer technology company that specializes in cloud applications and cloud platform services, to develop what it called a large language modeling and visualization application as part of its mission of advancing space biosciences.  

VXV opened the day at $0.3522, reached an intraday high price of $0.3652, tested an intraday low price of $0.3521, and closed the day at $0.3646.  

The [crypto token](/news/article/is-crypto-regulated-across-the-globe) closed the fifth month of the year with a relatively higher price of $0.4149. Overall, VXV went up by 10% in May.  

## Vectorspace AI: What is the latest?  

On 16 August, 2023, its parent company [announced](https://www.businesswire.com/news/home/20230816037245/en/Vector-Space-Biosciences-Files-for-Registration-for-Space-Launch-of-Biological-CubeSats) that it had begun a filing process for licensing and registering biological CubeStats. 

This will play a valuable role in enabling pharmaceutical, biological, and advanced materials companies to contribute to the advancement of the space industry.  

While the token did not respond strongly to the announcement, disclosure of the company obtaining the full license could lead to a spike in its price.  

VXV, unlike AGIX, Fetch.ai (FET), and other tokens under AI, has not seen the same levels of investor interest ([trading](/news/article/trading-212-guide) volume).  

The token saw a daily trading volume between $20,000 and $165,000 in August. This cannot be compared to the millions of dollars its direct competitors have seen on cryptocurrency exchanges. 

Can New Partnerships Drive Vectorspace AI Price? 

CryptoPanic is among the most patronized aggregators for breaking news and analysis about the digital asset market.  

Used by several writers and reporters to relay content through individual blogs and company sites, the news aggregator sees at least one million monthly visits, and it is among the top 70,000 websites worldwide. 

While independent portals like BeInCrypto, CoinDesk, [CoinTelegraph](/news/article/cointelegraph-explained), and CryptoSlate, among others, publish vital information, you will not come across all the trendiest content on a single platform.  

Below, we examine what this platform entails and the features available to you as a stakeholder in this emerging sector.  

## What is CryptoPanic?  

Founded in 2017, it aggregates news about the virtual asset sector, comprising fundamental and technical analysis. 

News found on the platform is invaluable to investors' trading patterns as it impacts the market positively or negatively. 

While the development team behind CryptoPanic has created many categories, interested parties can take advantage of three sections.  

The most used section is “News". Under this, you can find breaking news content reported by portals, including centralized and decentralized institutions. 

Aside from that, it covers all projects in addition to DApps (decentralized applications), NFTs (non-fungible tokens), stablecoins, and CBDCs (central bank digital currencies). 

You can also access "[Media](https://cryptopanic.com/news/media)". Under this, you can watch a select group of videos from well-established channels such as FUDTV (where FUD means fear, uncertainty, and doubt), TheCryptoLark, SimplyBitcoin, and AltcoinBuzz. 

Also, you can find “[Polls](https://cryptopanic.com/polls/new)", a place on the platform where you can express yourself by voting and contributing to [crypto](/news/article/is-crypto-dead) discussion. You can come across questions such as, do you think crypto is about to go into a bull or bear market, will BTC ever hit $100K, and what do you think will be the dominant currency in 2025?  

## CryptoPanic also offers a portfolio tracker  

Instead of visiting crypto price trackers such as CoinMarketCap, CoinStats, Coinranking, TradingView, CoinGecko, and others for data, you can create an account on the website and track all the activity surrounding your holdings in one place.   

The CryptoPanic[ portfolio tracker](https://cryptopanic.com/portfolio) is extremely important, especially when the market continues to experience high volatility. 

Is CryptoPanic the best news aggregator? 

AI tokens have been trending over the past eight months due to the impact artificial intelligence products have had on global markets. 

While AI has been with us for years, 2023 has seen it penetrate all spheres of the global economy, with many countries, like [India](https://indiaai.gov.in/news/meet-soundarya-south-india-s-first-ai-news-presenter-by-power-tv) and [China](https://www.cnbc.com/video/2018/11/09/worlds-first-ai-news-anchor-debuts-in-china.html#:~:text=China's%20state-run%20news%20agency,desk%2024-hours%20a%20day.), introducing AI-powered anchors and newscasters. 

While AI has been well-received by many companies in the entertainment industry, many actors and screenwriters have expressed dissatisfaction, culminating in [strikes](https://apnews.com/article/artificial-intelligence-hollywood-strikes-explained-writers-actors-e872bd63ab52c3ea9f7d6e825240a202) in July.  

Despite the threat AI poses, it has many advantages that can simplify the nature of work. The [crypto](/news/article/is-crypto-dead) market has been trading far below the all-time lows of 2021, but the addition of assets powered by AI companies has led to a significant rebound. 

Let us examine what they are and the impact they continue to have on the DeFi (decentralized finance) sector. 

## What are AI tokens? 

Derived from a combination of cryptocurrency and AI, they play an integral role in driving user experience, scalability, security, and many factors in the growing artificial intelligence sector. 

Due to being housed in blockchain, the possibilities of this technology enable people to use virtual assets to pay for AI-related services.  

Some of these services include payment for the use of image generation or text generation tools, exchanges, or decentralized marketplaces.  

Some of them also play an invaluable role in the creation of several virtual platforms where people can buy and sell AI algorithms.      

## What is the market size for AI tokens?  

The market size for the AI industry was estimated to be worth around $137 billion in 2022. It was forecast to grow at a CAGR (compound annual growth rate) of 37.3% over the next seven years (2023 to 2030), according to [Grand View Research](https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market).  

Areas expected to contribute significantly to achieving this valuation include but are not limited to manufacturing, agriculture, advertising and media, retail, law, healthcare, and automotive & transportation. 

Some companies named in the research included AMD (Advanced Micro Devices), Baidu Inc., Google LLC, IBM (International Business Machine Corporation), Intel Corporation, NVIDIA Corporation, Microsoft, Zebra Medical Vision Inc., and Sensely Inc. 

Germany, the UK, China, Japan, India, the US, Canada, and Mexico were the countries named to lead this revolution. 

AI tokens are typically assessed with big data cryptocurrencies due to the similar roles they continue to play in the Web3 revolution. 

As of 14 August, there are more than 1.6 million cryptocurrencies on the market. The overall total market capitalization of the digital currency sector stood at approximately [$1.2 trillion](https://www.tradingview.com/chart/1okY2Hep/?symbol=CRYPTOCAP%3ATOTAL).  

Out of this, around $4.9 billion belongs to the big data and AI market. This represents around 0.4% of the entire [crypto economy](https://coinmarketcap.com/view/ai-big-data/).  

This shows the amount of work the aforementioned companies must do to be able to compete squarely with other asset classes such as memecoins which has been soaring with price spikes in Dogecoin (DOGE), Pepe Token (PEPE), Shiba Inu ([SHIB](/news/article/shiba-crypto-project)), and Floki Inu (FLOKI).  

They need massive investment to be able to catch up with popular digital assets such as Solana (SOL), Ripple ([XRP](/news/article/ripple-xrp-news-2023)), Ethereum ([ETH](/news/article/polygon-matic-news)), Bitcoin (BTC), and Litecoin ([LTC](/news/article/litecoin-predictions)).   

## What AI tokens can you consider? 

While AI has faced ire from regulators across the globe, its assets remain some of the most in demand. 

As with crypto, regulatory bodies in the world's most powerful economies are trying to come up with AI compliance measures so that the privacy and security of their residents would not be compromised. 

While the market remains highly competitive with Google, OpenAI, and a few others dominating, the lack of awareness and education on the part of traders may see millions make severe losses within a short period. 

SingularityNET (AGIX), Fetch.ai (FET), Akash Network (AKT), Image Generation (IMGNAI), Kambria (KAT), and CryptoGPT (GPT) are among some of the cryptocurrencies under the AI banner you can consider for your portfolio.  

One of the advantages of owning AI tokens is that more than 90% of them are changing hands below $1. 

This means you do not need to fork out a lot of money before you can get your hands on millions of crypto tokens. With $1,000, you could have millions of GPT, KAT, IMGNAI, FET, AKT, and AGIX tokens in your investment portfolio. 

Many analysts continue to preach diversification and mixing AI tokens with [Metaverse](/news/article/metaverse-companies-to-watch) tokens, memecoins, and coins with sizable prices could be the way to go under the current crypto climate.  

## Conclusion  

The laws of cryptocurrency trading apply to all tokens, including those related to AI. 

Without strong fundamental and technical analysis, you could end up like many traders who felt they had found the next golden goose, only to lose substantial sums in a short period. 

Know that digital asset investment is risky, so invest what you can afford to lose. 

What are AI tokens and should you buy some? 

AI coins have taken over the crypto market in 2023 due to the extensive patronage of artificial intelligence tools. 

The launch of OpenAI's ChatGPT in November 2022 and the use of AI in many aspects of our lives have cast a positive aura around cryptocurrencies backed by AI products.  

Google parent company Alphabet Inc., Meta Platforms Inc., the holding company of Facebook, and others, such as NVIDIA, have benefitted massively from the patronage of AI-related services. This has led to a substantial rise in their respective stock prices.  

While [memecoins](/news/article/memecoins-whats-popular), metaverse tokens, and big data tokens have also profited from the rebounding of the market this year, AI tokens have brought above-average returns for millions of traders.  

Below, we look at some of the top AI coins crypto markets offer and their potential in the saturated [cryptocurrency ](/news/article/is-crypto-dead)space. 

## AI coins crypto: What are the top assets? 

You may have come across the total market capitalization for AI tokens. Unfortunately, all the major crypto tracking portals, like [CoinMarketCap](/news/article/what-is-market-cap-in-crypto), CoinGecko, and others, have combined AI coins with big data tokens. 

As of 12:00 UTC on 16 August, 2023, the combined market capitalization for [AI and big data tokens](https://coinmarketcap.com/view/ai-big-data/) was approximately $4.6 billion.  

While you will come across names such as The Graph (GRT), Render (RNDR), Injective (INJ), and Ocean Protocol (OCEAN), they are big data tokens. Some of them even qualify as Metaverse tokens. 

With this clarity in mind, you should know that examples of tokens powered by artificial intelligence include SingularityNET (AGIX), Fetch.ai (FET), AiDoge (AI), Image Generation AI (IMGNAI), Akash Network (AKASH), and Artificial Liquid Intelligence (ALI).  

## SingularityNET (AGIX) is the top-ranked coin  

According to CoinMarketCap, [SingularityNET](https://singularitynet.io/) is a platform powered by blockchain technology that allows people across the globe to share, create, and make money out of services related to the growing artificial intelligence sector. 

Its native asset AGIX plays an essential role in overseeing activities in the project’s ecosystem.  

SingularityNET is not one of the projects that solely relies on positive market sentiment to rise in price.  

Its price drivers come from partnerships, most recently with [Charles Hoskinson’s Cardano](https://twitter.com/SingularityNET/status/1622883083329458176), which led to a spike in the price of AGIX. 

As a low-cap digital asset by market cap, [AGIX](https://coinmarketcap.com/currencies/singularitynet/) was exchanging hands for $0.2024, continued to see at least $10 million as a daily trading volume in August, and had a fully diluted market capitalization of approximately $248 million.  

According to analysts at Digital Coin Price, a platform that combines fundamental with technical analysis, AGIX could have a trading price of $0.44 by the end of 2023 and retest the $1 mark in the long term. 

## Fetch.ai (FET) is among the tokens to keep an eye on  

Fetch.ai is the project behind FET. Fetch.ai tagged itself as an artificial lab when it joined the sector, and the protocol is used to build a decentralized machine-learning network that is permissionless and open. It continues to play a strong role in the crypto economy.  

Like SingularityNET's AGIX, FET's price is bolstered by major activities in its ecosystem, such as the new partnership with [Ocean Protocol](https://twitter.com/oceanprotocol/status/1689618001165750273), where Fetch.ai's technology will be sourced to help form a secure and privacy-preserving data exchange on the Ocean marketplace. 

As of writing, FET had a price of $0.2023, had seen a 24-hour trading volume of $33 million, and had a fully diluted market capitalization of $233 million.  

Many experts believe that an expansion of the project’s ecosystem could lead to an exponential rise in the price of this crypto asset.  

According to [David Cox](https://www.cryptonewsz.com/forecast/fetch-ai-price-prediction/) at CryptoNewsZ, FET could reach the maximum price of $0.59 by the close of 2023, $0.79 by the year’s end of 2025, and surpass its all-time high (ATH) price of $1.19 in September 2021.  

## AI coins crypto: The other tokens 

Largely ignored by millions of traders, Akash Network is one of the few AI-powered tokens that have been able to cross $1.  

In May, the development team behind [the protocol added](https://twitter.com/akashnet_/status/1658884912437678080) chatbot applications such as TerminalGPT, BabyAGI, and Auto-GPT.  

The launch of more applications with a great user base could result positively in the fortunes of the [digital asset](/news/article/uk-digital-assets-breaches).  

As of 12:00 UTC on 16 August, [AKT](https://coinmarketcap.com/currencies/akash-network/), the native asset behind the project, was exchanging hands for $1.17, had a 24-hour trading volume of $2.6 million, and had a fully diluted market capitalization of approximately $455 million. 

AKT is forecast to reach the maximum price of $2.57 by the close of 2023, $4.20 (2025), and $12.27 by the end of 2030. 

While these virtual currencies show great potential in the AI coins crypto market, you should embark on thorough research before investing your hard-earned money in them. 

AI coins: Crypto assets to watch out for 

[Dookey Dash](https://dookeydash.com/), sometimes wrongly referred to as DookyDash, hit the gaming market at the beginning of 2023 when it became the trendiest topic on the various NFT ([non-fungible token](/news/article/upcoming-nft-projects)) communities across all social media platforms.  

Having made a promise to revolutionize the P2E (play-to-earn) market, it is a skill-based NFT mint game by [Yuga Labs](https://learn.bybit.com/nft/what-is-dookey-dash/), the development team behind collections such as the BAYC (Bored Ape Yacht Club), MAYC (Mutant Ape Yacht Club), and BAKC (Bored Ape Kennel Club).  

Whether you call it Dookey Dash or DookyDash, to understand what this trendy keyword entails, let us briefly examine what it is all about. 

## Whether it's Dookey Dash or DookyDash, it introduced Sewer Passes 

Modelled after games such as Temple Run and Subway Surfers, players of this game had to compete in an endless running challenge.  

Like the other games, those who can survive obstacles thrown their way during the challenge get the top points (scores) and receive prizes.  

Once you are knocked out, players have to begin from the start.  

Despite being modelled after the aforementioned games, which are free to play by all manner of persons, playing Dookey Dash (the correct form of DookyDash) came with some requirements. 

Between 18 January and 8 February, when the game was at its peak, participants needed to be stakeholders of Yuga Labs' ecosystem. 

To join, you had to be an active holder of a [Bored Ape](/news/article/bored-ape-yacht-club) or Mutant Ape NFT. Holding these NFTs guaranteed gamers Sewer Passes, a limited edition NFT that enabled access to the game. 

Sewer Passes came in four different tiers. Each tier had different point-earning bonuses. With a MAYC NFT, gamers received the lowest pass (Tier 1), and with a Mutant Ape and BAKC, they received a Tier-2 pass. BAYC only gave gamers a Tier-3 pass, while Tier-4 holders had BAKC and BAYC NFTs.  

The game was supported by many browsers, such as Google Chrome, Apple's Safari, Microsoft Edge, and Mozilla Firefox. 

When the game's top scorers were frozen after 8 February, eligible Sewer Passes were transformed into new rewards on 15 February. 

## Dookey Dash key sold for $1.6 million in March 

Kyle Jackson, a Twitch streamer, won the golden key for receiving the highest score while playing Dookey Dash, the P2E game occasionally referred to as DookyDash. He sold his NFT "key" for 1,000 ETH (around [$1.6 million)](https://www.coindesk.com/web3/2023/02/27/winning-dookey-dash-key-sold-for-16m/) towards the end of February.  

As of 11 August 2023, Sewer Pass NFTs had generated around [$110 million](https://www.cryptoslam.io/sewerpass?headerPeriod=all&tab=historical_sales_volume) in all-time sales, with the peak of its monthly sale coming during January ($57 million), when millions of BAYC and MAYC holders jumped into the Dookey Dash, or DookyDash, P2E game. 

Call it DookyDash or Dookey Dash - it's had an impact on P2E gaming 

Tencent Cloud tags itself as the largest company operating under the internet banner in China. Its flagship products, like WeChat and QQ, are used by millions of people in Asia. 

After operating as a high-performance, reliable, and secure cloud computing service for years, it jumped into the blockchain-powered economy in 2023 with a series of partnerships. 

Below, we examine some of the partnerships and their potential impact on the future of the decentralized finance (DeFi) sector. 

## Tencent Cloud has partnered with MultiversX   

[MultiversX](https://www.kraken.com/learn/what-is-multiversx-egld) was formerly called Elrond and has been labelled an Ethereum Killer. MultiversX aims to compete with other smart contract platforms by having an ecosystem of cryptocurrencies and DApps (decentralized applications). 

On 16 February, 2023, MultiversX said it had allied with [Tencent Cloud](https://www.coindesk.com/web3/2023/02/16/tencent-teams-up-with-multiversx-to-expand-web3-strategy/) to help the company with its mission of expanding its Web3 products.  

Through this partnership, Tencent will use the possibilities of its technology and MultiversX’s network to deploy a range of products on the project’s blockchain.  

The Vice President of the cloud computing company, Leo Li, said that liaising with MultiversX was a way of deepening connections between the real and virtual world.  

The announcement had a huge impact on the crypto market as ELGD, the native asset behind the MultiversX protocol, [rose by 14%](https://coinmarketcap.com/currencies/multiversx-egld/historical-data/) from an opening day price of $46.41 to an intraday high price of $53.06.  

The day's trading volume was around $123 million, corresponding to a market capitalization of $1.2 billion. 

## Avalanche and Tencent Cloud partnership 

Avalanche is among the most patronized protocols and plays an integral role in the DeFi and NFT ([non-fungible token](/news/article/nft-art-marketplaces)) markets. AAVE, Benqi, GMX, Trader Joe, Stargate, Yield Yak, Vector Finance, Platypus Finance, Pangolin, and CIAN are some of the DApps deployed on Avalanche, which has given the chain a TVL (total value locked) of approximately [$600 million](https://defillama.com/chain/Avalanche).  

As a top 10 NFT blockchain by all-time sales, with around [$430 million,](https://www.cryptoslam.io/blockchains/avalanche) Avalanche is also a major player in the digital collectibles space.  

On 22 February, 2023, Avalanche disclosed that it has partnered with the Chinese company to support developers and projects in its ecosystem.  

Avalanche’s subnets (a piece of the Avalanche network) will also be explored by both parties as it is used by many enterprises. Representatives of Avalanche believe it will help accelerate the adoption of Web3 businesses across several businesses in the mainstream.  

With this, more products can be added to Avalanche's suite of Web3 products which already includes a bridge, explorer, and wallet. 

AVAX, the native asset behind Avalanche, saw a substantial rise in trading volume for the day. About [$606 million ](https://coinmarketcap.com/currencies/avalanche/historical-data/)was poured into the coin after it reached an intraday high price of $21.46.  

The new alliance deepened AVAX's status as a medium digital asset by value, with a market capitalization of $6.4 billion (medium cap assets range between $2 and $10 billion). 

## Chainlink allied with the company in May  

Chainlink joined the crypto market to help solve the problem of interoperability, as many blockchains were built with independent features. Over time, it has become one of the most patronized decentralized oracle networks. 

On 31 May, 2023, [Chainlink](https://twitter.com/chainlink/status/1663909326770012160?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1663909326770012160%7Ctwgr%5E6f533ab32cbc6b6b38f43a5a623a5ecf4c3aab01%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.crypto-news-flash.com%2Fchainlink-and-tencent-cloud-join-forces-to-unleash-web3-potential-accelerating-decentralized-technology-adoption%2F) announced via its official X handle (formerly Twitter) that it had teamed up with the internet firm to support Web3 startup development. 

The teaming up of the two firms will see BUILD projects under Chainlink receive a minimum of $10,000 worth of default vouchers for Tencent Cloud services.  

The vouchers will facilitate access to the internet company's various cloud computing resources, including but not limited to networking, storage, and power. 

As one of the coins hit hard during the crypto winter, which was born out of the collapse of Do Kwon's Terra Network in May and Sam Bankman-Fried's FTX in November 2022, LINK rose slightly on the back of the announcement. 

As of 13:00 UTC on 11 August, 2023, LINK was exchanging hands for[ $7.55](https://coinmarketcap.com/currencies/chainlink/), and many analysts forecast the coin to breach the $10 mark again and retest $20 in the future. 

## Conclusion  

Web3 is seen as the next iteration of the internet, where billions of people across the globe will be able to connect through decentralized systems. 

Being at the helm of the internet through its cloud computing services means that Tencent Cloud will play an instrumental role in the future of the blockchain-backed economy, which relies solely on the internet to function. 

With partnerships with MultiversX, Avalanche, and Chainlink leading to a rise in their respective native assets, more strategic team-ups could reflect positively on the overall market capitalization of the[ crypto](/news/article/is-crypto-regulated-across-the-globe) industry. 

Tencent Cloud leaps into crypto with partnerships

Today, thanks to legit NFT [(non-fungible token)](/news/article/upcoming-nft-projects) marketplaces such as OpenSea, X2Y2, Blur, LooksRare, and Rarible, it has become extremely easy to sell digital items that do not have any physical correspondence. Now [DMarket](https://dmarket.com/) is becoming popular for trading in-game items. 

As the NFT market peaked in 2021, many areas of the global economy decided to cash in on the emerging space. Among them was the gaming industry, which has been producing in-game items that can be sold and bought on specific marketplaces. 

One such marketplace is DMarket, which has been trending for some time. The website sees [millions of monthly visitors](https://www.similarweb.com/website/dmarket.com/#overview), with users visiting around 13 pages each time and spending about five minutes on the site. This explains why it is ranked among the top 100 portals under gaming in the US. 

While thousands of people have left rave reviews about the platform, it is not uncommon to come across others who are not happy with many aspects of the website's operations. 

Below we consider is DMarket legit as a place to go about your buying and selling activities of in-game items tied to the NFT market. 

## What is DMarket?  

Currently under parent company Mythical Inc. after being acquired in January 2023, DMarket was founded in 2017 as a worldwide marketplace that helps gamers exchange in-game items from video games under titles such as Team Fortress 2, Dota 2, Rust, and Counter Strike (CS: GO).  

The in-game items are popularly termed “skins”. Skins are virtual goods (non-physical goods bought for use in online games or online communities).  

## Is DMarket legit? The pros 

Many positive reviews about DMarket can be found online. As one of the few platforms to embrace the blockchain economy, it has facilitated more than 80 million transactions with over 23 million closed deals. But is DMarket legit? Let us examine some of the pros of using this platform. 

- It's emerging as a top blockchain-based marketplace. In a 2021 Metaverse Report by Newzoo, one of the most credible market research firms, DMarket was tagged as a top three blockchain-based marketplace. The Metaverse is gradually becoming an integral part of the Web3 economy. Video gaming plays a substantial role in the Metaverse, while items derived from engaging with objects in games can also be converted into NFTs, which can be sold for money. 

- Having seen the lack of interoperability in the blockchain-powered economy, DMarket provides a bridge between the virtual and real world by serving as a cross-chain platform that accumulates multiple Metaverses for broadcasters, eSports organizations, video games, influencers, and brands. This explains why it has more than one million skins in its marketplace, has a bot that guarantees easy and quick trading, and holds a 4.5-star rating on Trust Pilot.   

- Accessibility and numerous payment options for traders. The skins need to be bought and sold using fiat or digital currency. Payment methods available to users include e-services platforms (PayPal, Neteller, Skrill, and Payoneer), bank cards from financial services companies like Mastercard, VISA, and Union), and bank transfers. Cryptocurrencies such as Ethereum (ETH) and Bitcoin (BTC) are also accepted. Smartphone users can also access the marketplace on Google Play Store (Android) and Apple Store (iOS) and also take advantage of the many language options available in customer service.     

- Updated API systems. One of the most complained aspects of trading is scalability. The platform’s application programming interface (API) makes it easy to trade. Aside from that, it also helps users manage their inventory as they trade in bulk without facing technical problems.  

## Is DMarket Legit: The cons  

While the team behind the project has created a great ecosystem where brands, influencers, players, and game developers can contribute securely to video game content while making profits in the process, many people have shed light on the platform’s 7% fee.  

Many sellers have accused the company of putting profits ahead of satisfying sellers. Aside from fees, customer service response times have been rated poorly by millions of the platform's users. 

Is DMarket legit for buying and selling NFTs? 

Interest in AI crypto has gained pace due to the extensive use of artificial intelligence chatbots such as ChatGPT. 

Launched in November 2022, the extensive use of ChatGPT, a tool developed by OpenAI, has contributed to a spotlight being shone on AI-backed cryptocurrencies. 

In the markets, AI crypto has now joined established coins, Metaverse tokens, memecoins, and all the other digital assets. 

It is difficult to navigate crypto price tracking portals such as Coinranking, TradingView, CoinMarketCap, and CoinGecko without coming across AI tokens. 

While the cryptocurrency market [has struggled ](/news/article/is-crypto-dead)for much of the past year, the potential of AI, expected to reach into sectors including information technology, healthcare, marketing, finance, transport, customer service, and entertainment, has seen tokens supported by companies under the AI umbrella perform above expectations. 

Let us examine AI [crypto](/news/article/is-crypto-regulated-across-the-globe) and its potential impact on the investment portfolios of millions of traders across the globe. 

## AI crypto: What is it? 

AI crypto comprises both coins and tokens. You may have come across these terms on crypto portals and seen them being used interchangeably. In fact, [coins and tokens](/news/article/token-vs-coin) refer to two different things.  

Coins are native to a single blockchain. This means that aside from performing utility services on that chain, it cannot function on any other chain due to a lack of interoperability. 

Tokens are deployed on existing blockchains and rely primarily on the possibilities of smart contract chains to function. 

AI crypto involves both coins and tokens developed by groups of people to fuel AI-based services, applications, and projects such as AI-driven DAOs (decentralized autonomous organizations), AI-powered trading algorithms, and decentralized AI marketplaces. 

AI coins normally play the basic role of a transactional currency, where they are used as payments, while AI tokens do this as well as conferring governance rights to the virtual asset's holders. 

## The impact of AI cryptos in the market  

As of 14:00 UTC on 9 August, 2023, cryptocurrencies under the artificial intelligence banner commanded a market capitalization of approximately $4.7 billion.  

While many of the mainstream digital currencies such as Cardano (ADA), Litecoin (LTC), Solana (SOL), Polygon (MATIC), and others have failed to bring multiple percentage gains to traders in the first eight months of the year, many AI coins and tokens have performed extremely well.  

Among them is AGIX, the novel token of SingularityNET, a platform powered by blockchain technology that allows people to not only create and share but also monetize services related to the booming AI industry. 

AGIX has brought more than 300% gains year-to-date (YTD). It was among the best-performing coins in the first two months of the year (January to February), when it soared by 1,357% in 39 days.  

AGIX opened on 1 January at $0.04556 and reached a year high of [$0.6637](https://twitter.com/SingularityNET/status/1622883083329458176) on 8 February on the back of a partnership with Cardano that enhanced applications for developers on the protocol.     

Another is FET, the token behind Fetch.ai, a platform that functions as an AI laboratory building permissionless, decentralized, and open machine learning networks within the decentralized finance economy. 

FET has spiked by 120% YTD and token holders from the opening day ($0.09166) of the year to 8 February saw a 555% increment in their investment capital when it reached a peak of [$0.6004](https://coinmarketcap.com/currencies/fetch/).

One of the less-popular but top-performing tokens so far has been KAT, the cryptocurrency behind Kambria, an open platform for augmented reality (AR), the Internet of Things (IoT), virtual reality (VR), blockchain, robotics, and artificial intelligence. 

[KAT](https://coinmarketcap.com/currencies/kambria/) investors who bought and sold the token around February, during the AI token rally, came away with almost 2,000% gains in less than two months. 

Other digital assets that have made substantial contributions to the category’s impressive market capitalization include but are not limited to, Akash Network (AKASH), Image Generator Token (IMGNAI), CryptoGPT (GPT), and VAIOT with double-percentage gains in 2023.   

## Should you invest in any AI crypto?  

Yes, AI cryptos are assets you should consider adding to your investment portfolios.  

While AI has been trending on social media platforms over the past eight months due to its positive and negative sides, the foray of companies such as IBM and Slack into using it to improve their services gives credence to the technology. 

The launch of AI tools has improved the stock prices of companies such as Meta Platforms Inc. (META), Apple (AAPL), and Microsoft (MSFT).  

In the same way, the launch of AI products by companies under DeFi support will reflect positively on the values of AI coins and tokens. 

Is AI crypto the new millionaire maker? 

The Terra Networks project remains one of the most talked about crypto initiatives. 

While the project was once a dominant force in the decentralized finance sector, it has fallen below others due to the implosion of its algorithmic stablecoin, TerraUSD (UST), in May 2022. 

That resulted in a split of the blockchain, with a new network called [Terra 2.0](/news/article/terra-luna-2-revival-plan) and the Terra Networks original offering referred to as [Terra Classic ](/news/article/luna-classic-price-prediction). 

While many online articles have given a timeline about the implosion of the project and the whereabouts of its co-founder, Do Kwon, we would like to examine the possibilities for Terra Classic. 

Is Terra Classic a good investment, and can the development team behind the protocol revive it to where it was before the collapse that led to billions of dollars in investor money being lost? 

## Terra Network's LUNC: Can the crypto reach $1?  

Terra Classic is denoted by the ticker symbol LUNC. The cryptocurrency reached an all-time high (ATH) price of $119.18 on 5 April, 2022. During the lows borne out of the sale of Terra Networks UST stablecoins, the coin plunged to an all-time low of $0.00001675 on 13 May, 2022. 

This led to a further reduction in its TVL (total value locked). Once trailing only Ethereum in the total amount of money locked into DApps (decentralized applications) on the protocol, it once reached a high of $33 billion in value locked. 

LPs (Liquidity Providers) for DApps such as Anchor, Mirror, Pyton Protocol, Astroport, Mars Protocol, Risk Harbor, Lido, Terraswap, Spectrum Protocol, Aperture Finance, and White Whale lost a combined $60 billion. 

Despite its revival, LUNC was exchanging hands for [$0.00007739 ](https://coinmarketcap.com/currencies/terra-luna/) as of 18:00 UTC on 10 August, 2023. This value has seen many analysts include the coin with the likes of memecoins Pepe Token (PEPE), Shiba Inu (SHIB), and Dogecoin (DOGE) as to whether they have a chance of breaching the $1 milestone.  

Terra Classic can cross $1 if positive market sentiment forces the hands of traders to return to the once much-loved crypto coin. While LUNC has failed to reclaim its glory days, when the minimum daily trading volume was above $100 million, the digital asset has its lowest daily trading volume at $14 million so far in August. This corresponds to a market capitalization of $456 million. 

Aside from market sentiment, which can drive all cryptocurrencies, the project needs to have a strong underlying infrastructure that promises here-and-now products in the non-fungible token (NFT) industry, Metaverse, and a return to having DApps that will contribute to the overall valuation of the coin. 

What’s more, LUNC has become relatively cheaper as it has fallen 99% below its ATH. A $100 investment could see your account credited with around 1.3 million coins.  

Should LUNC test $0.5 in the future, that could result in about $640,000. If it retests $1 again, you could be walking away as a millionaire.  

Despite the controversy, LUNC has rebounded well when it comes to its relationships with cryptocurrency exchanges. After being delisted by most centralized exchanges, the coin has found faith with the likes of Chanpeng Zhao’s Binance, Gate.io, OKX, Huobi Global, Kraken, Crypto.com, and MEXC Global.  

Overall, more than 30 trading platforms support the crypto asset, and it is available in more than 50 markets.  

## Is Terra Networks digital currency a good investment?  

Yes, LUNC is trading for a relatively lower price. While it continues to suffer negative media due to leading the market crash of 2022 (later deepened by Sam Bankman-Fried's FTX), it's a coin that can be considered by low-income traders. 

Potential coin buyers should consistently follow news about the project on crypto portals such as CoinDesk, CoinTelegraph, and others. 

You should also weigh the risks and rewards of buying the coin. All [crypto](/news/article/is-crypto-regulated-across-the-globe) investments are risky, but if the potential rewards of buying LUNC far and wide exceed the risks of investing in the coin, then you can add it to your investment portfolio. 

Can Terra Networks original coin rebound? 

FET crypto has brought multiple percentage gains to many decentralized finance (DeFi) stakeholders. 

The digital asset has achieved this feat due to growing interest in artificial intelligence ([AI](https://zapier.com/blog/best-ai-chatbot/)) chatbots such as ChatGPT, Google Bard, HuggingChat, Zapier, Perplexity, ChatSonic, ChatSpot, and Poe. 

While these AI chatbots continue to simplify the work of individuals and businesses, the primary beneficiaries of the boom have been traders smart enough to recognize the potential of cryptocurrencies supported by AI companies.  

As of 14 August, there are more than one million digital currencies on the market, and several thousand are AI tokens.  

With thousands of cryptos searching for the same number of investors, let us examine if FET crypto is among the best AI tokens currently available on the market. 

## What is FET crypto? 

FET is the native asset of [Fetch.ai](https://coinmarketcap.com/currencies/fetch/), a project that tags itself as a laboratory operating under the AI banner used to build decentralized machine networks that are permissionless and open within the [crypto ](/news/article/is-crypto-dead) economy. 

Launched on Binance in March 2019, the project was founded in 2017. Fetch.ai makes it possible for anyone to access and connect datasets by employing autonomous AI in the execution of tasks by leveraging the protocol’s global data network.  

## What projects does Fetch.ai support? 

Due to its extensive role in the transition to the modern iteration of the internet in Web3, many programs have allied with the project.  

Among them is [Atomix](https://twitter.com/atomix_defi/status/1503671345250549761), a stablecoin yield-generating protocol that allows LPs (liquidity providers) to supply stablecoin and earn above-average periodical yields.  

There is also Mettalex, the DEX (decentralized exchange) that doubles as a derivatives platform for crypto commodities. 

Decentralized exchange [Starfleit](https://starfleit.io/) and decentralized social network [Resonate](https://resonate.social/) are also using the possibilities of the protocol.  

Moreover, [Axim](https://www.axim.ai/), an AI-powered tool that provides data security and analyses siloed data, and [Catena-X Automotive Network](https://catena-x.net/en/), a cloud-based network playing an active role in the automotive value chain, have also partnered with Fetch.ai. 

Lastly, [Co-Learn](https://finance.yahoo.com/news/fetch-ai-launches-first-nft-160408544.html?guccounter=1&guce_referrer=aHR0cHM6Ly91a2Mtd29yZC1lZGl0Lm9mZmljZWFwcHMubGl2ZS5jb20v&guce_referrer_sig=AQAAAHBJ5Jsvid7sg3tMlESTavfGjqARsclxDz9QvhMtZs1skVUFspwZ2kE96rjDaYCUyLqw3Vpr1CFdY0Bl_m7eLEKUNDzGhsAzYKvZBl4cRgPEVQ0i3kGtwvDGsPJ-M58-iNBeTKJafeMuIJwBsoFYyuOCnZIRg2GMdio36mwlOC7Y) is an open collective learning system that makes it easy for users to build a shared MLM (machine-learning model). 

In August 2021, the Colearn Paint Platform was launched. It enabled designers and collectives access to a tool that helps them mint AI-related NFTs (non-fungible tokens). 

## Is FET crypto a good investment? 

From the numerous partnerships made by its parent company which cuts across every sphere of the internet, FET crypto is one of the cryptocurrencies you can assess for your investment portfolio.  

The digital asset has over-performed despite several pullbacks over the past months after it peaked in February. 

On 8 February, the asset reached a yearly high price of $0.6004 after opening the year at [$0.09166](https://coinmarketcap.com/currencies/fetch/historical-data/).  

Holders who bought FET and let go of the token on the day of its peak walked away with 555% gains.  

Investors who continue to hold onto their tokens are still in profit, as the asset remains in the green with more than 100% returns year-to-date (YTD). 

One of the main areas you should consider in choosing a coin is liquidity. Liquidity is expressed in daily trading volume. While trading volume is not talked about much, it plays an integral role in fundamental and technical analysis.  

FET saw at least $10 million in daily trading volume in August. While this is relatively smaller compared to volumes from giants such as Ethereum (ETH) and Bitcoin (BTC), which are in the billions, it is quite impressive, considering millions of coins and tokens are fading away daily. 

The other area is accessibility. You would not want a situation where you buy a cryptocurrency and millions of people do not have the same level of accessibility to include the asset in their portfolios.  

As of 11:00 UTC on 14 August, FET was supported by more than [30](https://coinranking.com/coin/AWma-WzFHmKVQ+fetchai-fet/markets) centralized exchanges such as Binance, [Coinbase](/news/article/coinbase-card) Pro, Kraken, Huobi Global, MEXC Global, and Mandala.  

It was available in more than 60 markets where it is traded against fiat currencies (USD, EUR), [stablecoins](/news/article/stablecoin-issuer-circle-apple-pay) (BUSD, USDT), and other cryptocurrencies such as BTC, Binance Coin (BNB), and Osmosis (OSMO), among others. 

Despite the positives, the virtual asset continues to fall off the rank of the largest big data and AI tokens by market capitalization.  

At one point, FET trailed only The Graph (GRT) and SingularityNET (AGIX). Unfortunately, others in the big data and AI token sector, such as Injective (INJ), Render Token (RNDR), Akash Network (AKT), Oasis Network (ROSE), and Ocean Protocol (OCEAN), have leapfrogged the token in recent months. 

![coin data](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_29_at_15_01_33_512386c3f1.png)

This is due to the infinite competition that continues to grip all aspects of the market. As a result, you should do extensive research about the products supporting the cryptocurrency. 

While FET is a good token, it is not the best but among the must-have digital assets for your portfolio, for now. 

Is FET crypto the best AI token on the market? 

A bubble is ordinarily related to inflated prices of digital assets. A great example of this can be attributed to the year 2021 when the decentralized finance (DeFi) market experienced its biggest run to date with inflated crypto prices that saw Bitcoin ([BTC](/news/article/how-to-invest-in-bitcoin-uk)) and Ethereum (ETH) almost test $70,000 and $5,000, respectively. 

Trading against their hypothetical values within the period, the speculative bubbles burst, leading to the loss of billions of dollars in the portfolios of many traders. 

While the term has gained traction on the back of the aforementioned events, a platform named [Crypto Bubbles](https://en.wikipedia.org/wiki/Cryptocurrency_bubble) was introduced into the market to provide indicators to industry stakeholders. 

## Crypto Bubble: What is this platform?  

This is an interactive tool that helps with the visualization of digital currencies, with each bubble portraying a particular digital asset. Overall, the platform provides market data such as rank, price, changes in price performance (hour, day, week, month, and year), daily trading volume, and capitalization on the top 1,000 digital assets by value.  

Aside from the most popular and two largest assets by market cap in the form of BTC and ETH, others such as Fantom (FTM), Polygon (MATIC), the Sandbox (SAND), Internet Computer (ICP), Decentraland (MANA), and more are also tracked. 

It can be accessed on the web as well as the Google Play Store for smartphone users whose devices are powered by Android. 

Some of its competitors include CryptoRank, [CoinMarketCap](/news/article/coin-marketcap-analysis), CoinTracking, CryptoTracker, CoinGecko, and Coinglass. 

## Is Crypto Bubble safe? 

As one of the major players in the virtual asset industry, people in the UK, Canada, Germany, and France have been using the platform to make investment decisions about their holdings. 

According to [SimilarWeb](https://www.similarweb.com/app/google-play/net.cryptobubbles/statistics/#audienceInterests), a web traffic, data analytics, and software company, most users of the interactive tool are normally interested in finance, productivity, and communication.  

While it continues to face infinite competition, its indicators are sourced from a combination of credible exchanges such as [Binance](/news/article/cz-binance-founder), OKX, KuCoin, Bybit, [Coinbase](/news/article/coinbase-card), Gate.io, and MEXC Global.  

With this, it could be concluded that this platform is among the safest to help sophisticated and unsophisticated traders and investors track the [crypto](/news/article/is-crypto-dead) market. 

Cryptocurrency coins and bubbles falling from sky

Is Crypto Bubble a Great Place to Track Coins?

[FTM](https://coinmarketcap.com/currencies/fantom/) is a top 60 digital asset by market capitalization. While a fully diluted market value of approximately $850 million categorizes the coin as a small-cap digital asset (worth less than $2 billion), the potential of [Fantom](https://fantom.foundation/), the smart contract platform behind the cryptocurrency, has led many analysts to make bullish forecasts. 

Among the forecasts is the question, can it recover and retest the price range it used to? 

## What is FTM?  

It is the [cryptocurrency](/news/article/waves-crypto) behind Fantom, one of the most patronized blockchains that house some of the most popular decentralized applications ([DApps](/news/article/what-is-dappradar)).  

Like most digital assets, it oversees several activities on the chain. Tagged as an Ethereum Killer, Fantom was launched in December 2019 by Fantom Foundation but was created in 2018.  

In July, the virtual currency was supported by more than [60](https://coinranking.com/coin/uIEWfMFnQo9K_+fantom-ftm/exchanges) cryptocurrency exchanges, including [Binance](/news/article/cz-binance-founder), [Gate.io](/news/article/gate.io-to-make-debut-in-hong-kong), Kraken, Huobi Global, Uniswap, Coinone, and MEXC Global.  

In addition to this, it is available in more than 110 markets and can be traded against fiat currencies such as the US dollar (USD) and Euro (EUR), and other cryptocurrencies. 

This means that the coin is highly accessible, one of the pros of watching out for before including any asset in your investment portfolio.  

## Will FTM recover?  

Yes, it could recover in the long term depending on activities in its ecosystem. The team has been expanding the project with Hackathons. The latest [Hackathon](https://fantom.foundation/blog/fantom-general-update-may-22-2023/) was completed at the end of Q2 2023.  

Interested participants were tasked with adding new DApps to the ever-growing ecosystem of Fantom. 

In June, [CryptoDo](https://twitter.com/CryptoDo_app/status/1670496972342435840), a multichain no-code builder of Web3 solutions for businesses, integrated with Fantom to help anyone without programming skills create and deploy several DApps. 

These, in addition to the project’s presence in the non-fungible token [(NFT](/news/article/matt-hancock-nft-latest)) sector, where it has generated around [$8 million](https://www.cryptoslam.io/blockchains/fantom) in all-time sales, could propel the coin to reach new price milestones. 

Many analysts believe an FTM price recovery of around $4 could come in the long term. 

ftm Fantom logo on blue image of blockchain

Can FTM retest its all-time high in the future?

[Shiba crypto](/news/article/waves-crypto) has become a mainstay in the blockchain-based economy due to the hype its community members, collectively called the SHIB Army, have conferred on the project. 

Introduced into the saturated cryptocurrency market in August 2020, a period when the centralized and decentralized finance markets were recovering from the lows suffering during the peak of the coronavirus pandemic (March and April) by Ryoshi, the "Shiba Inu Ecosystem" is one of the most popular whitepapers in the industry. 

Almost three years after its introduction, the project has experienced several highs and lows in terms of making millionaires and also plunging the portfolios of millions of others into several losses.  

Below, we take an in-depth look at the pros and cons of Ryoshi's innovation that will serve as a thesis to measure whether Shiba crypto remains one of the most underrated projects in the sector. 

## Shiba crypto has surpassed its meme status 

Shiba crypto was introduced into a market of more than 10,000 cryptocurrencies in 2020 to poke fun at the meme-inspired digital currency Dogecoin (DOGE), a project Billy Markus and Jackson Palmer launched in 2013.  

Before 2020, many developers tried to question DOGE's status as the largest meme coin by market capitalization.  

Unfortunately, they all failed to pose a strong test to the dominance of a[ coin](/news/article/vra-coin-doubles) that created several millionaires along the way.  

Unlike the others, including Dogecoin, which was also created to poke fun at the idea of Satoshi Nakamoto introducing Bitcoin (BTC) to challenge centralized finance (CeFi), Shiba has a strong infrastructure to lead the innovation into the next phase of this emerging sector.  

While Dogecoin remains on an independent blockchain that relies on the layer one infrastructure of processing transactions, Shiba has moved on to other areas, such as decentralized finance (DeFi) and the Metaverse.  

This has been made possible in large part thanks to the project’s association with Ethereum, the most popular smart contracts-backed blockchain in the industry to date.  

Despite the significant reduction in total value locked ([TVL](https://defillama.com/chain/Ethereum)) across the sector, Ethereum remains the largest DeFi chain by TVL, with approximately $26 billion, as of 12 July 2023.  

Thousands of decentralized applications (DApps) in lending, yield aggregation, exchange, and insurance have been added to the market thanks to the possibilities of Ethereum. 

Among them is [ShibaSwap](https://www.shibatoken.com/), the native decentralized exchange (DEX) of the Shiba Inu Ecosystem that provides a great way for the swapping of SHIB tokens safely and securely.  

ShibaSwap joined a new area of cryptocurrency trading platforms dominated by Uniswap, the largest DEX by trading volume, and PancakeSwap, the second-largest DEX by trading volume. 

Having seen an opportunity to draw millions onto its platform, the developers added several features to help users earn diverse passive income. Among them are dig (liquidity), bury (staking), and Shiboshis (NFTs).  

While many DEXs such as Balancer, DODO, BiSwap, QuickSwap, Synthetix, ApeSwap, SpookySwap, Thena, Maverick, Clipper, and SushiSwap records awesome monthly trading volumes, the consistent innovation being thrown at ShibaSwap has propelled the DApp to see a minimum of [$50 million](https://dune.com/hagaetc/dex-metrics) in monthly trading volume.  

With millions of users' increasing demand for anonymity, consistent upgrades of ShibaSwap, which opens the DApp to trading many cryptocurrencies and more digital collections instead of the project's products, could propel the DEX to new milestones in the future. 

## Shiba crypto has made its way into the Metaverse 

The Metaverse has been described by many as the next iteration of the internet, where we transition to Web3 from our current Web2 status. 

This means that humans can experience life through single, shared, immersive, persistent, and three-dimensional (3D) spaces using AR (augmented reality) and VR (virtual reality) technologies.  

The potential impact of this emerging space has seen Mark Zuckerberg, Chief Executive Officer (CEO) of the parent company that owns Facebook, Threads, Instagram, Messenger, WhatsApp, Oculus Quest, Horizon Worlds, Workplace, and Mapillary, rebrand his firm's name to Meta Platforms Inc.  

Metaverse's impact has extended beyond the social media sector to many facets of our daily public lives.  

In June 2022, [Ajman Police](https://www.thenationalnews.com/uae/2022/06/06/uae-police-set-up-metaverse-service-to-help-the-public/) in the United Arab Emirates (UAE) announced that citizens could meet and interact with them via the Metaverse. Avatars of officers have been made active to answer the queries of residents. 

The buzz around the Metaverse deepened in April 2022 when Yuga Labs, the development team behind the popular NFT collection Bored Ape Yacht Club (BAYC), announced a new collection borne out of what it called the [Otherside Metaverse](https://watcher.guru/news/bayc-metaverse-otherside-launch-date-released).  

This Metaverse gave birth to NFTs called Otherdeeds, which have generated more than [$1 billion ](https://www.cryptoslam.io/otherdeed)in sales volume.  

SHIB has not left its community behind and also has Shib the Metaverse, a virtual representation of the project’s collective history aimed at helping the army collect in-game resources, generate rewards, and earn consistent passive income.  

Research and Markets forecast the global metaverse market to grow by more than [$175 billion](https://www.globenewswire.com/en/news-release/2023/01/25/2594933/28124/en/Global-Metaverse-Market-Report-2023-Market-Value-to-Grow-by-Over-175-Billion-from-2022-to-2027.html) by 2027. While projects like Illuvium, Roblox, Decentraland, and Axie Infinity were mentioned, Shib remains one of the dark horses that can contribute to reaching the forecasted valuation. 

## Shiba crypto launches Shibarium in August 

Many [crypto](/news/article/is-crypto-regulated-across-the-globe) projects, such as Binance and TRON, started on Ethereum but later branched out to individual chains to boost the functionality of their respective protocols. 

Ryoshi and his team have made plans to upgrade their protocol with the launch of Shibarium in August 2023.  

This is a layer two blockchain network built on Vitalik Buterin’s chain for the Shiba Inu project. With this, the project tagged as a Dogecoin Killer due to its meme status will become a complete ecosystem. 

Some of the advantages of [Shibarium](https://cointelegraph.com/explained/what-is-shibarium-and-what-does-it-mean-for-shiba-inu) include but are not limited to seamless DApp development, increased token utility, lower fees, and improved scalability (higher transaction speeds). 

## Will the new ecosystem be safe to use?  

Yes, the protocol will be safe to use, according to Certik, a security-focused platform that monitors and analyzes DeFi projects and blockchain protocols.  

Certik gave the project a security score of [90.72](https://skynet.certik.com/projects/shib), weighted on code security, fundamental health, operational resilience, governance strength, market stability, and community trust. 

With millions of SHIB wallet addresses holding onto their tokens and a thriving ecosystem, Shiba crypto is one of the most underrated projects. And so is its native asset SHIB. 

Is the Shiba crypto project underrated? 

Cryptocurrency crime has become a common theme in a world where billions of pounds are exchanged using the possibilities of the internet aided by the power of [blockchain](/news/article/blockchain-based-fireblocks-explained) technology.  

In its latest report,[ Chainalysis](https://blog.chainalysis.com/reports/crypto-crime-midyear-2023-update-ransomware-scams/) revealed that illicit activities related to the use of [cryptocurrencies](/news/article/is-crypto-dead) amounted to $2.8 billion in the first half of 2023.  

While this was down 65% from the same period in 2022 (around $8 billion), crypto still playing a crucial role in child abuse material, fraud shops, scams, malware, ransomware attacks, and darknet markets is a cause of concern for all stakeholders of this sector.  

Although many analysts and industry experts have attributed the consistent rise of cryptocurrency crimes to its private nature, there is more to that assertion.  

In this article, we take an in-depth look at the essential factors that have led many people to use virtual currencies related to the decentralized finance ([DeFi](/news/article/what-is-a-defi-token)) economy. 

## Cryptocurrency crime: Why is it still present in 2023? 

The blockchain-powered economy shed 65% of its overall market capitalization in 2022 after opening the year on 1 January with a value of approximately $2.2 trillion and closing the year on 31 December with around $756 billion, data from [TradingView ](https://www.tradingview.com/markets/cryptocurrencies/global-charts/)showed.  

Within seven months, the market had rebounded, leading to a 54% rise in 2022’s close. As of 11:00 UTC on 13 July 2023, the total market capitalization of the industry was about $1.2 trillion.  

This rebound has been positively reflected in the price performance of mainstream coins such as Bitcoin (BTC), Ethereum (ETH), meme tokens like Pepe ([PEPE](/news/article/rare-pepes-collectible-memes)), and artificial intelligence (AI) and big data tokens such as SingularityNET (AGIX), Fetch.ai (FET), and the Graph (GRT) among others.  

Having seen the renewed interest in digital assets through the injection of liquidity (reflected in daily trading volume), cybercriminals have turned to crypto again due to the special features it continues to possess, in addition to other factors. 

Cryptocurrency crime is special for organized groups because of the following factors.  

- Pseudonymity and Anonymity – If you try to hold a bank account with any financial institution, there is a 100% chance that representatives of the organization will be asked for identification in the form of Know Your Client or Customer (KYC). With this, they verify the legal details of your full name, country, residential address, and source of funds. If you are supposed to receive funds through cross-border payments, transactions normally go through intermediaries (central banks, insurance companies, and clearinghouses) before they are credited to your account. This process is complex, slow, and does little for your privacy, although it is highly secure. Cryptocurrencies powered by cryptographic encryptions forgo all these processes and allow anyone, no matter where they are, to send and receive money over the internet at relatively lower fees. This is why it has gradually replaced cash as the go-to currency for illicit activities. 

- [Cryptocurrency On-Ramp and Off-Ramp](https://knowledgehub.transparency.org/helpdesk/cryptocurrencies-corruption-and-organised-crime-implications-of-the-growing-use-of-cryptocurrencies-in-enabling-illicit-finance-and-corruption) – When Satoshi Nakamoto created Bitcoin (BTC), it was extremely difficult for asset holders to convert them back to cash. This was because the much-needed technology was not available, and those who had access to it were highly tech-savvy. As BTC and other coins gain mainstream attention, with thousands currently accepted as payment methods by traditional institutions, many financial technology (Fintech) firms have added on-ramp and off-ramp innovations to support the centralized and decentralized finance economies. On-ramp is where cash (fiat money) is converted to crypto. This is mostly done by purchasing digital coins via ATMs, bank transfers, or cards. On-ramp is mostly patronized by traders and investors. Off-ramp is where cryptocurrency is converted into fiat currency. This can be done through Peer-to-Peer (P2P) cryptocurrency marketplaces such as Binance and withdrawing funds through an exchange. In many parts of the world where most people are underbanked or unbanked or face severe sanctions, P2P has become the way for most people to sell off their crypto for cash. Many telecommunications companies have created wallets independent of mainstream financial institutions. These can be used to gradually cash crypto obtained through unscrupulous dealings. 

- Lack of comprehensive global regulatory framework: The Markets-In Crypto Asset ([MiCA](https://www.consilium.europa.eu/en/press/press-releases/2023/05/16/digital-finance-council-adopts-new-rules-on-markets-in-crypto-assets-mica/#:~:text=This%20regulatory%20framework%20aims%20to,of%20the%20crypto-asset%20sector.)) regulation is scheduled to take effect in 2024. The European Union (EU) will introduce [MiCA](/news/article/mica-crypto-market) to preserve financial stability and protect investors while allowing for the positive sides of crypto in the form of innovation to thrive. While this will significantly limit cryptocurrency crimes, the laws would be exclusive to member countries. This means that VASPs (Virtual Asset Service Providers) would need to comply with certain rules and regulations that will go a long way to protect investor funds. Despite this, crypto transactions cannot be reversed, so once residents of the region are scammed, or a VASPs system is compromised through hacking, cybercriminals are still free to move some of the money around before enforcement sets in. Aside from the EU, agencies in the US and the UK have failed to come up with a real regulatory vehicle for stakeholders. Many crypto companies in the US have instead accused the SEC of operating on enforcement rather than compliance. With nobody taking responsibility, criminals continue to hack, scam, and launder billions of dollars annually.  
 
## Cryptocurrency crime mostly involves privacy coins  

[Bitcoin](/news/article/bitcoin-to-pounds), Monero ([XMR](/news/article/how-to-buy-monero)), and Zcash (ZEC) are mostly used to launder money globally. More than $40 billion has been laundered through ransomware and corrupt practices (bribes and embezzlement, among others) since 2017. 

The onus falls on regulatory bodies across the globe to draw up a unified regulatory document against cryptocurrency crime that can monitor large transactions moving from one wallet to the other.  

This way, cryptocurrency crime could be ameliorated and gradually eradicated from the blockchain-based economy. 

Why is Cryptocurrency Crime Still on the Rise?

[BlackRock Bitcoin](https://www.reuters.com/business/finance/blackrock-close-filing-bitcoin-etf-coindesk-2023-06-15/) exchange-traded fund (ETF) trended on all investment newswires in June after BlackRock, the biggest asset manager worldwide, filed for an [ETF](/news/article/chamber-of-digital-commerce) backed by BTC, the largest digital asset by market capitalization.  

The move for a Blackrock Bitcoin ETF was made by the investment firm to give clients exposure to the flagship coin. 

The company disclosed that [Coinbase Custody](https://www.coinbase.com/custody/assets), a New York-based business that provides cold-storage services for the digital assets of third parties, will serve as custodian for its iShares Bitcoin Trust, details of its filing with the US SEC (Securities and Exchange Commission) showed.  

While this has been seen as a great move by a large investment company, the SEC has shown resistance when it comes to the approval of spot BTC ETFs.  

## BlackRock Bitcoin ETF: What is it? 

To understand this what the Blackrock Bitcoin ETF is, you should know what ETF means. According to [Investopedia](https://www.investopedia.com/terms/e/etf.asp), ETF is a kind of investment security pool that operates similarly to a mutual fund. It tracks commodities, particular sectors, indexes, and other assets like cryptocurrencies. 

It differs from mutual funds because it can be bought and sold on a stock exchange in the same way as the regular stocks of Mastercard, Visa Inc., and other major corporations with ticker symbols on the London Stock Exchange (LSE), New York Stock Exchange (NYSE), and others.  

SPDR S&P 500 ETF is the first exchange-traded fund, and it continues to track the S&P 500 Index. 

With this in mind, what BlackRock has applied for is a spot BTC ETF. This would track the underlying market price of the first blockchain-backed digital currency.  

Analysts at [Forbes Advisor ](https://www.forbes.com/advisor/investing/cryptocurrency/best-bitcoin-etfs/)believe this product will expose investors to the coin without becoming crypto asset holders.   

## BlackRock Bitcoin ETF is not the first being considered by the SEC  

As of July 2023, the SEC has not approved any ETFs that directly own [BTC](/news/article/bitcoin-rally-sees-gain-this-week). Instead, existing Bitcoin ETFs only hold futures contracts or other ETFs and stocks of companies that have direct exposure to Satoshi Nakamoto’s innovation.  

In 2022, [Grayscale Investment LLC](https://techcrunch.com/2022/06/30/the-sec-rejected-bitcoin-spot-etfs-again-now-what/), the largest digital asset management firm, saw its request to convert its Grayscale Bitcoin Trust into an ETF rejected by the SEC. 

Angered by the decision, [Grayscale sued](https://www.cnbc.com/2022/06/30/grayscale-sues-sec-after-rejected-bid-to-turn-bitcoin-fund-into-etf.html) because the regulatory body had already approved BTC futures ETFs, as earlier highlighted. 

Aside from Grayscale, CBOE Global Markets, New York Digital Investments Group (NYDIG), and Fidelity have also had their spot BTC ETFs rejected by the apex regulatory institution in the USA. 

## Impact of the filing on the coin  

In crypto, there are three major price drivers; the triggering of a staking feature that helps investors earn passive income, the listing of a virtual asset on a major exchange, and the acceptance of a coin as a transactional currency by a mainstream company.  

Ordinarily, due to the SEC's rejection of other companies’ attempts, a filing of an exchange-traded fund related to the most popular cryptocurrency should have been discarded by millions of traders across the globe.  

After trading below $30,000 for two months, the asset rebounded strongly from $25,576.28 on 16 June and tested a then-high of $31,460.05 on 6 July. 

As of 21:00 on 13 July 2023, it was exchanging hands for $31,484.21, a 23% rise in less than one month, data from crypto price tracker CoinMarketCap showed.  

Such bullishness is the reason why analyst [Richard Adrian ](https://www.fxleaders.com/forecasts/crypto/bitcoin-price-forecast/)at FX Leaders foresees a substantial rise in the price of the crypto.  

According to him, the digital currency could reach the maximum price of $85,000 due to positive market sentiment, hawkish central bank decisions, and mainstream adoption of the decentralized finance sector by the year's close. 

## The latest on spot Bitcoin ETFs globally 

On 13 July 2023, multiple news outlets reported that London-based multi-asset investment platform [Jacobi Asset Management ](https://cointelegraph.com/news/bitcoin-etf-europe-s-first-spot-bitcoin-etf-eyes-2023-debut-after-a-year-long-delay)would launch the first spot BTC ETF in Europe before the close of the year. 

This announcement comes exactly a year after it was scheduled to premiere on the Euronext exchange in Amsterdam in July 2022.  

The asset manager said it chose to launch its product in the fall due to improved demand for [crypto assets](/news/article/crypto-watch-guide).  

Since security has become an integral issue in this sector due to the billions of pounds worth of stolen digital assets, Jacobi has chosen Fidelity Digital Assets as the custodian.  

## Conclusion 

The SEC may not grant exchange-traded funds related to the spot market due to the agency's consistent consideration of many of the assets, including [BTC](/coins/btc), being securities in disguise. 

Whatever happens, [BlackRock](/news/article/blackrock-etf) has created an impressive base on which other potential applicants can thrive to see this hurdle through.  

That said, [Ripple](https://www.cnbc.com/2023/07/13/xrp-surges-after-judge-delivers-a-huge-win-to-ripple-in-its-case-against-the-sec.html) has won its two and half year case against the agency. This could be a turning point in the type of products it could approve for trading in the future. 

Blackrock Bitcoin ETFs: The Latest

[Shiba Inu](/news/article/could-shiba-inu-price-reach-10-by-2024) crypto has survived the bullish days and bearish seasons of the blockchain industry to remain one of the most popular and traded digital assets in the sector. 

Despite the introduction of competitor meme coins such as Pepe (PEPE), Floki Inu (FLOKI), Baby DogeCoin (BABYDOGE), Dogelon Mars (ELON), and Milady Meme Coin (LADYS), among others, SHIB, the novel token behind the [Shiba Inu](/news/article/shiba-inu-holders-value-of-bone) ecosystem remains a medium-cap digital asset by market capitalization. 

With more than [$4 billion](https://coinmarketcap.com/currencies/shiba-inu/) in market value, the crypto token continues to see millions of dollars in daily volume, and this has led to a revision of forecasts made by analysts involved in the space.  

While the project has struggled to create the millionaires it once did during the peak of the market in 2021, it has been trending recently due to upcoming upgrades, and other events, that could propel it to new price milestones in the not-too-distant future. 

Below, we take an extensive look at some of the positives and negatives that could explain whether this meme-inspired [crypto](/news/article/what-is-gmt-crypto) is an asset you can consider adding to your investment portfolio.  

## Pros of buying Shiba Inu crypto 

Created by a group of people named Ryoshi in August 2020, [Shiba Inu ](/news/article/shiba-inu-news-will-it-rise)is one of the most impactful projects in the space aside from Bitcoin, Ethereum, and the Bored Ape Yacht Club (BAYC).  

While it was supposed to remain a joke project borne out of the meme-inspired digital currency frenzy, Ryoshi and his team have taken their innovation to the mainstream.  

Here are some pros you should consider before deciding investment-wise on the token. 

- Scarcity – Many meme coins rely on their community to lift the coin to new price milestones. Aside from that, most of them are inflationary as development teams add more coins to satisfy the needs of demanding fans without considering the effects on tokenomics. While meme projects such as Dogecoin (DOGE) remain inflationary, [Shiba Inu](/news/article/shiba-inu-price-gbp) is a deflationary token. While inflationary tokens are increased over time, deflationary tokens decrease periodically. Deflationary cryptocurrencies are subject to token burning, a process where a significant part of the virtual currency is removed from circulation. Once this happens, scarcity takes hold of the particular crypto asset. The latest [token burning](/news/article/shiba-inu-coin-burn) came on 11 July 2023, when [Shibburn](https://twitter.com/shibburn/status/1678615120648208384), an account dedicated to tracking SHIB tokens, shared with their followers that around 601 million SHIB have been burned. While many do not consider the token a store of value due to its total and maximum supply, it still possesses all the attributes of a currency. Aside from scarcity, it is non-counterfeitable, divisible, transportable, durable, and can be used to settle transactions (transactional currency). With consistent burns ahead of the token, many analysts, including [Daria Morgen](https://changelly.com/blog/shiba-inu-price-prediction/) at Changelly Blog, foresee the digital currency nearing its all-time high (ATH) of $0.00008845 in October 2021 on the back of scarcity. According to her, its value could increase to the best possible prices of $0.00002382 by the end of 2025, $0.00005009 (2027), and $0.00015853 by the year’s end of 2030.   

- Investor Confidence – You do not want a situation where you are only after a particular cryptocurrency. As of 21:00 UTC on 12 July 2023, the cryptocurrency has seen a minimum daily trading volume of around $71 million in the seventh month of the year. While trading volume is not discussed much, you should know that it plays an important role in technical and fundamental analysis. Aside from liquidity, the number of long-term holders is another area that makes SHIB a token worth considering. Data from [IntoTheBlock](https://app.intotheblock.com/coin/SHIB/deep-dive?group=ownership&chart=all) shows that the number of addresses holding the crypto for at least one year has reached a new milestone. The number of wallet addresses with SHIB for more than a year has surpassed 835,000, and they make up around 67% of all token holders. Holding onto digital currencies for a long period means anticipation of a potential rise in price in the future.   

- Ecosystem Expansion – According to multiple reports online, [Shibarium](https://blog.shib.io/) will be going live in August 2023 after its beta test went live in March. Shibarium is a layer two network, making the project a full ecosystem where all sectors of the blockchain-backed economy will be featured (Metaverse, NFTs, DApps, video games, and many more). This way, the project will not thrive on the price performance of Bitcoin (BTC) and other market movers such as DOGE to increase significantly. 

## Cons of buying Shiba Inu crypto 

The most important con of the Shiba Inu crypto project is the introduction of popular memes such as Pepe (PEPE), which has claimed a substantial part of the meme coin market over the past months. 

As the months roll over, if Ryoshi and the team do not introduce new products that compete with others in all the essential areas of the economy, the project may fail to cross the $1 milestone that’s been missing for most meme-inspired digital assets.  

Consider the above pros and cons and supplement the information here with further research. Also, weigh the risks against the rewards of buying the token. If they are in your favour, you can consider adding it to your investment portfolio. 

Shiba inu crypto coin with Shiba smiling 

Is Shiba Inu Crypto Still a Good Investment?

"Stablecoin depeg" has been gaining traction over the past year due to the extensive usage of the digital asset by millions across the globe. 

Despite the negative effects of what became known as [crypto ](/news/article/waves-crypto)winter due to the plunge in the worth of the decentralized finance market, [stablecoins](https://thedefiant.io/stablecoin-volume-hits-record-high-of-7-4t-in-2022) executed around $7 trillion worth of transactions in 2022. 

What's impressive is that last year's value was a 23% rise from 2021, when the stable assets executed approximately $6 trillion worth of transactions. 

Trailing only Visa, the stable asset class [outpaced](https://twitter.com/TheChicagoVC/status/1605596279295201280) other payment processing companies such as Discover, Mastercard, and American Express during one of the worst periods in the trading history of virtual currencies.  

With the world of work changing, which has forced the hands of many employers worldwide to offer some employees’ salaries in crypto due to its relatively lower fees, it has become an instrumental part of the lives of several remote workers.  

This is why stablecoin depeg has risen above many terms in the crypto sector and has become a subject you should not take lightly.  

## Stablecoin depeg: Where does it begin? 

To understand this, you should first know what a stablecoin is.  

Its meaning can be directly derived from its name, a coin that is stable. According to [Investopedia](https://www.investopedia.com/terms/s/stablecoin.asp), it is a part of the crypto family and values are tied or pegged to commodities, financial instruments, or fiat currencies like the US dollar (USD), Euro (EUR), or the Great British pound (GBP).  

Satoshi Nakamoto introduced blockchain technology-backed financial currencies to compete directly with centralized finance-backed currencies. Therefore, we would be focusing on crypto paired with fiat currencies as a measure for explaining depegging. 

Most stablecoins are pegged 1:1 with fiat currencies, so depegging occurs when their values deviate substantially from their pegged rate. 

This unfortunate situation normally occurs on the back of regulatory changes, liquidity issues, and market conditions depending on the type of stablecoin.  

## What are the types of stablecoins?  

They come in three types: coins backed by fiat currency as earlier explained, others backed by commodities such as gold and silver, and those backed algorithmically by smart contracts. 

Among others, the most popular are Tether Limited’s United States Dollar Tether (USDT), [Circle’s](/news/article/stablecoin-issuer-circle-apple-pay) United States Dollar Coin (USDC), Binance’s USD (BUSD), DAI, USDP, Euro Coin ([EUROC](/news/article/euro-coin)), and TerraUSD (UST).  

While stablecoin issued by Circle and Tether is directly supported by USD and EUR, UST was an algorithmic stablecoin by Terraform Labs, a project that collapsed in May 2022.  

UST de-pegged due to its linkage to LUNA, the native asset behind the Terra ecosystem – a project that once surpassed $20 billion in total value locked (TVL).  

Due to its reliance on LUNA, once traders lost interest in Terra’s flagship cryptocurrency, UST could not be redeemed against its parent virtual currency. This led to mass selling and plunged the coin into irrecoverable zones.  

In March 2023, USDC briefly depegged from the USD in large part due to [Silicon Valley Bank](https://www.investopedia.com/what-happened-to-silicon-valley-bank-7368676), a now-defunct financial institution in the US where around $3 billion of the stablecoin's reserves were held. 

In 2018, USDT, which remains the largest stablecoin by market capitalization with approximately [$83 billion](https://coinmarketcap.com/currencies/tether/) in value, briefly depegged. 

## Should you be concerned about another major stablecoin depeg?  

Yes, you should be extremely concerned, considering the collapse of UST began crypto winter that wiped more than $1 trillion off the crypto economy in 2022.  

Understand that the DeFi sector is highly volatile, and several agencies continue to plan to introduce some [regulation](/news/article/is-crypto-regulated-across-the-globe) to the market, which could impact the asset class negatively. 

Aside from that, issuers can fail holders of a particular coin, while large selling by traders who want to cash out their assets can also affect their stable value. 

What is stablecoin depeg and why does it matter? 

[Token vs Coin ](https://www.analyticsinsight.net/crypto-coin-vs-crypto-token-understanding-the-difference/)yields millions of results across search engines like Bing and Google due to a demand for answers on the real differences between two terms, mostly used interchangeably. 

Why are certain digital assets referred to as coins, and why do some have tokens attached to them on crypto-tracking websites such as [CoinMarketCap](/news/article/coin-marketcap-analysis) and others?  

Below, we examine what they are, their differences, and examples that will help you categorize numerous cryptocurrencies you have been coming across on crypto news portals and exchanges. 

## Token vs Coin: What does coin mean? 

To explain the terms, let us understand that the two exist and came into being through the power of blockchain technology.  

Coins are primarily cryptocurrencies that are native to a particular blockchain. They are exclusive to a particular chain and cannot be used on other blockchains due to a lack of interoperability.  

They have several use cases, including serving as a store of value, exchange medium, and unit of account. 

You may have come across a term called mining. This is the process by which coins are produced. Mining allows computers relying on application-specified integrated circuits (ASICs) to solve complex math puzzles, which helps validate transactions to create coins. 

Miners are rewarded with newly minted coins, and their contributions are highly invaluable to the decentralization and security of a network. 

On having a decentralized feature, no intermediaries (central banks, clearinghouses, or insurance companies) are in charge of the coin's circulation. Instead, they are governed by their protocol's rules and the project's community's consensus. 

With this, users enjoy privacy and freedom over their funds and transactions – something many, like Satoshi Nakamoto (creator of [BTC](/news/article/how-to-invest-in-bitcoin-uk)), felt centralized financial institutions have taken away from people. 

On security, to prevent cybercriminals from engaging in unscrupulous activities using virtual currencies in fraud, censorship, and hacking, cryptography and encryption are used to protect coins.  

This way, users do not need to entrust the safety and authenticity of their coins to third parties.  

The last and most recognizable feature of coins is scarcity. Digital coins were created to challenge the status quo (fiat currency system), so they must possess all the attributes of currency money. 

Predetermined by their respective algorithms, most coins have a total and maximum supply, which positively reflects their value over time. 

With this in mind, you should know that four types of coins categorize the assets you have been reading about or trading online. They are native, forked, wrapped, and stable.  

Native coins run on independent blockchains and oversee all the activities of that particular network. Great examples are Bitcoin (BTC), Litecoin ([LTC](/news/article/litecoin-predictions)), Dash (DASH), Ethereum (ETH), Solana (SOL), Cardano (ADA), and Dogecoin ([DOGE](/news/article/dogecoin-twitter-doge-payments)), among others. 

Stablecoins are pegged to the value of fiat currencies (USD, EUR, and GBP), commodities (gold, silver), and other cryptocurrencies. Examples are [USDC, USDT](/news/article/usdc-vs-usdt), BUSD, and DAI.  

Wrapped coins represent different assets on different blockchains. This was introduced to allow liquidity and cross-chain functionality for users. Wrapped Ether ([WETH](https://www.forbes.com/advisor/investing/cryptocurrency/wrapped-ethereum-weth/)) and Wrapped Bitcoin (WBTC) are examples.  

Ethereum Classic (ETC), Bitcoin Satoshi Version (BSV), Ethereum Proof-of-Work (ETHPoW), and Bitcoin Cash (BCH) are examples of Forked Coins – they were derived from their originally existing chains.  

    
## Token vs Coin: What does token mean? 

Unlike coins, tokens are housed in existing blockchains and rely on the possibilities of the technology for their operations.  

While coins are mined, tokens are pre-mined, and this means that the development team behind a protocol employs smart contracts to issue and distribute new tokens to their users.  

With the explanation of tokens in mind, you should know that there are four types; utility, governance, security, and non-fungible. Non-fungible tokens ([NFTs](https://trading-education.com/what-are-nfts-non-fungible-tokens-explained)) represent indivisible, indestructible, verifiable, and non-interoperable digital items such as collectables and art. Many popular NFTs are issued through Ethereum, including the [Bored Ape Yacht Club](/news/article/bored-ape-whale-buys-69-degods-nft), Axie Infinity, Otherdeeds from the Otherside Metaverse, NBA Top Shots, and Azuki.  

Utility tokens help users access functions and services on a blockchain or decentralized application (DApp). Examples include Uniswap ([UNI](/news/article/uniswap-ledger-connect-guide)). Governance tokens confer something like voting rights to users where they have a say in the governance of a particular DApp or chain. Compound (COMP), Aave (AAVE), and Maker (MKR) are examples of governance tokens. 

The last are security tokens, representing a share of ownership or claim on an income stream or asset. Polymath (POLY) is part of security tokens and, unlike the others, is subject to third-party influence such as regulation and compliance. 


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