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? 

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 

Before turning to our list of the best AI crypto coins, let's understand what artificial intelligence is. 

AI continues to take the world by storm. Contrary to what many people say (and what the news suggests), AI is not here to 'replace' people. 

While AI will end up[ replacing millions of human jobs in 2023](https://www.msn.com/en-in/news/other/ai-will-replace-millions-of-human-jobs-by-2023-but-these-4-jobs-to-be-at-most-risk-reveals-study/ar-AA1eCrRm) alone (low-wage jobs in particular), it will force people to upskill and keep up with the latest technological trends, eventually doing much more good than harm - stagnation kills. 

An AI revolution is brewing, and the cryptosphere is no exception to its wrath (overdramatic much?). 

AI coins, in particular, are the talk of the town. These crypto assets use artificial intelligence to enhance security, scalability, and user experiences within blockchain networks. AI can be trained to identify investment opportunities, analyse market trends, detect illicit activities, and much more. 

Hence, AI crypto coins find application in AI-driven projects based on portfolio management, market predictions, decentralised marketplaces, etc. It is safe to say that the potential for AI in the cryptosphere is sky-high. Read on to learn about the best AI crypto coins on the market today. 

## Best AI crypto coins 

Here are the five best AI crypto coins in no particular order: 

- SingularityNET (AGIX). 
- Render (RNDR). 
- Oasis Network (ROSE). 
- The Graph (GRT). 
- Injective (INJ). 

## SingularityNET (AGIX) 

AGIX is, without a shadow of a doubt, one of the most in-demand AI crypto coins on the market today. AGIX is the native token of [SingularityNET](https://singularitynet.io/), an ecosystem based on AI and Artificial General Intelligence (AGI). 

The ecosystem’s goal is to create a beneficial, inclusive, democratic, and decentralised AGI. AGIX plays an instrumental role in facilitating ecosystem transactions. 

![SingularityNET](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_09_18_at_09_59_04_bcf32504a3.png)

According to CoinMarketCap data, AGIX is trading at $0.1776 at the time of writing (to remain consistent through this article). The AI cryptocurrency has a market cap of over $200M, a 24-hour trading volume of nearly $40M, a total supply of just over 1.30B, and a maximum supply of 2B. 

You can purchase AGIX on[ popular crypto exchanges](/news/article/coinberry-exchange-review) such as Binance, KuCoin, and Uniswap. 

## Render (RNDR) 

RNDR is the native asset of [Render Network,](https://rendernetwork.com/) an Ethereum-based GPU network that revolves around motion graphics, VFX rendering, and animation. The cryptocurrency serves as a utility token within Render Network. 

The distributed GPU rendering platform was launched in 2017 and enables artists to scale next-gen rendering work efficiently and cheaply. 

![Render token screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_09_18_at_09_59_12_e4f1f1aa55.png)

RNDR is currently trading at $1.43. The crypto asset's market cap is more than $500M, with a 24-hour trading volume of nearly $50M, a circulating supply of almost 372M, a total supply of approximately 531M, and a maximum supply of close to 537M. 

You can buy RNDR at cryptocurrency[ exchanges](/news/article/coinswitch-exchange) such as Binance, KuCoin, Coinbase, and [Kraken](/news/article/kraken-crypto-exchange-plans-bank-launch). 

## Oasis Network (ROSE) 

[Oasis Network](https://oasisprotocol.org/) is a Layer 1 (L1) blockchain prioritising privacy, security, and versatility. The L1 promises "smart privacy" - according to its website, to build better decentralised applications (DApps), smarter privacy is the need of the hour. 

The L1 is built keeping developers in mind, enabling them to craft confidential DApps with ease. The network's modular architecture allows superior security, low gas fees, and high throughput. 

Recently, Oasis Network announced an ecosystem fund amounting to a whopping $235M. This fund will help support like-minded projects on the L1, fostering innovation and growth within the ecosystem. Exciting times! 

ROSE, the native crypto of Oasis Network, fuels the ecosystem. 

![Oasis Network coin statistics](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_09_18_at_09_59_21_56974e05d1.png)

ROSE is currently worth $0.04133. The cryptocurrency’s market cap is a solid $236M, with a 24-hour trading volume of over $26M, a circulating supply of more than 5.72B, a total supply of 10B, and a matching maximum supply of 10B. 

You can easily purchase ROSE at Binance, KuCoin, and Coinbase. 

## The Graph (GRT) 

[The Graph ](https://thegraph.com/)is an open-source, decentralised protocol that leverages distributed ledger technology (DLT) to collect data, thereby eliminating intermediaries. 

This protocol is designed to organise and index data efficiently. Simply put, The Graph indexes and organises blockchain data like Google indexes the worldwide web. 

To tackle the challenges of indexing blockchain data, The Graph utilises Subgraphs (Open APIs on The Graph) to retrieve blockchain data efficiently. The protocol's native crypto asset, GRT, is utilised for resource allocation within the network. 

![The Graph coin stats from coinmarketcap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_09_18_at_09_59_30_82482da480.png)

GRT is available for purchase at $0.08947. The AI crypto coin's market cap is nearly $820M, with a 24-hour trading volume of almost $63.50M, a circulating supply of approximately 9.15B, and a total supply of more than 10.72B. The token's maximum supply is infinite! 

Buy GRT at Binance, Coinbase, and KuCoin. 

## Injective (INJ) 

Injective is a “blockchain built for finance”. The L1 enables developers to build top-notch financial applications, with revolutionising smart contracts, pioneering interoperability, customised decentralised finance (DeFi) solutions, and formidable security. 

Backed by the likes of Binance and Mark Cuban, keep an eye on Injective and, in particular, the L1's native asset, INJ, which is one of the few cryptocurrencies experiencing a green wave at the time of writing! 

![Injective token coinmarketcap stats](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_09_18_at_09_59_39_78bb1c754d.png)

INJ is currently trading at $7.64 and can be bought on Binance, KuCoin, and Coinbase. 

Best AI crypto coins unveiled: A complete guide

Decentralised blockchain ecosystem Casper, geared towards developer and enterprise adoption, combines unique features which have made it a popular choice. Here, we explore Casper and how its native token, [CSPR](https://casper.network/en-us/), works. 

The Casper mainnet was launched in March 2021 by Casper Labs, funded through a method called an IOU launch, which allows investors to access the project before trading begins. Interest in the ecosystem has grown thanks to features such as the custom-built blockchain and its own cryptocurrency, CSPR. 

Advanced developer tools have empowered developers to create decentralised applications (DApps) that are considered more robust and immersive than others. 

Investor interest remains high thanks to new partnerships Casper has formed, with the likes of WISeKey, BIGtoken, Lead Ventures, and more. 

## What is Casper for? 

The primary goal of the blockchain is to simplify onboarding, reducing the tech barriers so that more businesses can integrate blockchain solutions into how they do business. 

A leading benefit of the platform is offering a secure alternative to centralised markets, with an open-source network vetted by many third parties and its own community. 

It is also scalable, thanks largely due to the team’s commitment to not repeating the mistakes of [Ethereum](/news/article/second-ethereum-testnet-successful). Ethereum gas fees were designed to combat congestion, but rising popularity left users facing increasingly high fees, as well as delays. 

Casper supports sharding, which is a digital storage method letting networks compartmentalise data, delivering almost limitless storage capacity. It also enables developers to produce complex DApps using blockchains that support sharding. 

The Casper network is also upgradeable, a compelling reason for its popularity. The team behind the ecosystem was keen to ensure that the network remains relevant into the future and went to great lengths to achieve this. Many of the features it offers are developed to be upgradeable, such as predictable gas fees and enhanced smart contracts. 

## How does Casper work? 

The Casper network is supported and maintained by [Casper Labs](https://www.casperlabs.io/) and delivers enterprise blockchain services. 

It operates a Proof of Stake (PoS) blockchain built on the Casper CBC (correct by construction) specification. This consensus mechanism delivers high performance and good security, and developers are enabled to build new blockchains using the Casper developer tools. 

PoS networks are more energy-efficient and scalable than Proof of Work (PoW) mechanisms, thanks to the removal of miners from within the validation process. It works by users staking their tokens to secure the network and receiving rewards, paid in native token CSPR. 

You should also be aware of the Casper Association. It is a not-for-profit organisation which is focused on expanding the reach and position of the network. The association is committed to providing resources, such as financial and technical support, to projects that have the potential to deliver valuable services to the Casper ecosystem. 

## CSPR 

The primary utility token for the Casper ecosystem is CSPR, a dynamic crypto fulfilling many roles. 

CSPR is how regular users interact with the network’s services and features, for example being used to pay fees and rewards. It is used to reward PoS validators and has a crucial role in the network’s community governance. 

You may be asking, how can I buy CSPR? It is available on exchanges such as Uphold, a leading platform for residents of the US and UK which offers a wide range of cryptos. 

CSPR can also be purchased on [KuCoin](/news/article/rise-of-kucoin), a cryptocurrency exchange offering trading in more than 300 popular tokens. It is often the go-to platform for the first chance to purchase new tokens as they hit the market. 

## CSPR and NFTs 

Casper has recently confirmed support for non-fungible tokens (NFTs). It has partnered with WISekey to develop an advanced NFT marketplace, where users can create and trade their NFTS on a platform underpinned by Casper. AS NFTs continue to be a popular trading commodity within blockchain, this could further increase the interest and success of Casper. 

You may already be aware, but NFTs represent a single asset, making them different to cryptocurrencies. NFTs have been widely used to create art and digital collectible, commanding massive prices, and the technology is moving towards adoption for more uses, such as ticketing and even storing personal records, such as medical data, online. 

## CSPR funding developers 

Casper developers are able to access grants which deliver finding for their projects thanks to DEVxDAO. Users of the Casper network are able to vote on which projects receive token grants by qualifying for financial assistance. 

DEVxDAO was the result of a partnership between Casper and the Swiss group, the Emergency Technology Association. The goal is to help to onboard promising developers, plus other figures such as researchers and scientists, seeking funding to deliver new decentralised infrastructure projects. 

## Is Casper The Future?

Fans of Casper and its native crypto CSPR argue that it is driving blockchain adoption within the business sector. 

The popularity of Casper with developers shows that there is a demand for providing businesses not yet engaged with blockchain to access 'turnkey' solutions to allow integration. Casper enables this, offering businesses greater efficiency and security. 

Casper has carved out a leading role in this niche market, one that is potentially very valuable and likely to see increasing demand. 

Is CSPR changing blockchain? 

Apes crypto, aka ApeCoin (APE), is "for the Web3 economy". Web3 unlocks a plethora of opportunities for different user classes. Of course, decentralised finance (DeFi) is at the heart of Web3, and so is culture. Yes, you read that right. The NFT space (art) is projected to generate revenue of [roughly $3.50B in 2023](https://codeless.co/nft-statistics/) alone. 

Gaming finance (GameFi), entertainment, and events are on the rise as well. Culture has indeed "found new expression in Web3" and the possibilities are endless. Let us explore these cultural facets further. 

NFTs unlock a whole new mode of artistic expression, with authentic ownership attached to your pieces of art and the genuine possibility of attaching creative layers to your artwork (such as music and stunning visual effects) through NFT and blockchain technology. 

The GameFi market is expected to [reach $38B in 2028](https://www.businessresearchinsights.com/market-reports/gamefi-market-102420) and is a genuine game-changer for the gaming industry. The Play-to-Earn (P2E) gaming model has made earning money while playing games a realistic possibility. 

Of course, as a professional gamer, you can stream your gameplay, participate in gaming contests, and potentially acquire sponsors to make a career in gaming - GameFi makes it possible for ANYONE to earn while playing games - you need not be a professional gamer to partake and win rewards in GameFi. 

Entertainment and events, too, have been on the rise and are well-represented by the NFT community in particular. Dozens of entertainment-laced events [have taken place in 2023](https://www.splunk.com/en_us/blog/learn/blockchain-conferences-events.html) already, with several more set to place by the end of the year. 

## Web3 is for the culture. 

ApeCoin is a decentralised protocol layer that is on a mission to support the present and next wave of "community-led initiatives that drive culture forward into the Metaverse". Apes crypto (APE) is a token that is supporting this initiative. 

![apecoin website screenshot with APE logo](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_29_at_16_35_19_73c310e9c0.png)

## What is the APE Foundation? 

The APE Foundation looks after the ApeCoin decentralised protocol layer. It serves as the base layer upon which Apes crypto holders in the ApeCoin DAO can BUIDL. APE Foundation enables community-led governance and administers the decisions of the DAO. 

Responsibilities of the foundation include project management, bookkeeping, day-to-day administration, and all other tasks that ascertain the ApeCoin DAO community’s ideas are supported. 

In a nutshell, the [APE Foundation](/news/article/prime-ape-planet-nft) stewards the growth and development of the Apes crypto ecosystem inclusively and fairly. It makes use of the Ecosystem Fund (controlled by a multisig wallet) as directed by the ApeCoin DAO to pay all relevant expenses. 

It also provides a nurturing infrastructure for Apes crypto holders to collaborate through permissionless and open governance procedures. 

## What is the ApeCoin DAO? 

By now, I am sure you have a pretty good idea about the functioning of the ApeCoin DAO. Decentralised governance is crucial to the healthy functioning of a globally dispersed community. The functionality of the ApeCoin DAO is instrumental to the ecosystem's success. 

At the time of writing, DAO membership is open to all Apes crypto holders. As a member of the DAO, you can make decisions related to partnerships, projects, governance rules, Ecosystem Fund allocations, and much more! For an in-depth understanding of the ApeCoin DAO, visit the [ApeCoin DAO Governance section](https://apecoin.com/governance). 

## What is the Apes crypto board? 

The ApeCoin Board is a special council on the foundation that administers DAO proposals at the behest of DAO members and serves the community's vision. Mind you, not all DAO proposals require administrative review. Only those proposals that require review as per ApeCoin DAO rules are looked at by the board. 

The initial Board member term is six months, after which DAO members vote annually on board members. At the time of writing, below are the [members of the board](/news/article/bored-ape-nft). 

![apecoin website showing boredape nfts](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_29_at_16_35_26_a9e0d612f3.png)

## Apes crypto price prediction 2023 

Apes crypto is an ERC-20 utility and governance token that holds a crucial role in the ApeCoin ecosystem. The total token supply of the cryptocurrency is fixed at 1B tokens. Here are some of its utilities: 

- ApeCoin is the governance token of the ecosystem. It allows APE holders to participate in DAO activities. 
- APE is the ecosystem’s utility token as well. It is a shared currency that can be used by all ecosystem members in a decentralised manner. 
- Apes crypto provides exclusive access to services, events, merchandise, and games. 
- APE also serves as a tool to incentivise participation in projects, games, and services. 

It is clear that APE is multi-faceted and an integral part of the ApeCoin ecosystem. 

As per CoinGecko statistics, the current price at the time of writing of APE is $1.49. The cryptocurrency has a market cap of well over $500M, a 24-hour trading volume of more than $77M, and a circulating supply of over 1/3rd of its total supply. 

ApeCoin is a fascinating, community-led project with a lot of potential. In fact, the crypto’s potential is sky-high if we are talking about its [2023 price prediction](/news/article/ape-coin-price). The crypto asset achieved an ATH of $26.70 on 28 April, 2022, and it could end the year in the $2-3 region. 

You must DYOR research at all times. This is NOT financial advice. Happy APE'ing! 


apecoin logo on image of ape climbing in a tree

What is Apes crypto and the APE price prediction 2023? 

Fetch isn't just your regular blockchain or crypto project; it's much more than that. 

The concept combines blockchain, artificial intelligence (AI), and the Internet of Things (IoT) to create a network of autonomous economic agents that can perform different user tasks. This article explains how Fetch crypto works. 

## What is Fetch crypto (FET)? 

Fetch coin ([FET](https://docs.fetch.ai/)) is an Ethereum-based digital current native to Fetch.AI, a decentralized application that integrates the power of blockchain, machine learning, and artificial intelligence. 

The aim is to power applications associated with gig economy work, asset trading, and energy grid optimization. 

FET is the utility [token](/news/article/token-vs-coin) that unlocks the Fetch ecosystem, where users find, create, deploy, and train autonomous economic agents to facilitate smart contract transactions needed for the conceived digital economy. The Fetch project was launched in 2019 on the Binance Launchpad during the dawn of the fourth industrial revolution.    

## The Fetch.AI project's objective 

Fetch.AI proposes eliminating centralized ways of accomplishing different tasks, from data delivery to hotel bookings, and replacing them with decentralized ones to leverage a machine-based economy better. 

The aim is to use software-based "agents" to make autonomous digital transactions. Fetch.AI proposes establishing an Open Economic Framework as a platform through which the digital agents interact with digital data to deliver high-priority performances at a minimal cost. 

According to the plan, the digital agents will eventually represent different devices, data, and services as they become experts that would improve the delivery of various services. 

Fetch.AI and the Fetch crypto (FET) are designed to minimize the need for corporate and human third parties that currently control access to the vast knowledge hub the digital data banks created. 

The available data will become the foundation of the emerging AI-based economy by linking blockchain technology with machine learning. Once meddling third parties are eliminated, the data and devices on the Fetch.AI platform can market themselves independently, powered by the Fetch crypto (FET). The tokens will act as a digital currency for all network operations, communication, and transactions.    

## How does Fetch.AI work? 

Fetch.AI's vision is to enable everyone to benefit from the abundant benefits of artificial intelligence and machine learning without centralized third parties, whether or not they have technical expertise. 

By leveraging blockchain technology, users can build, launch and train their "digital agents" to perform designated tasks and services across various industries and domains. The "digital agents will be able to interact with data sources and other agents to form a collective intelligence that will boost the desired outcomes and generate value. 

Among the targeted use cases for this AI-based technology include:      

Decentralized finance (DeFi): Users can find the perfect trade opportunities, provide liquidity, and execute trades and hedge risks across diverse DeFi platforms and protocols.  

Transportation: You’ll be able to optimize travel and mobility using the best modes of transport and routes and identify parking spaces or desirable vacation destinations using a combination of your preferences and real-time data.  

Energy: Fetch.AI will make it possible to minimize energy consumption costs by opting for affordable or environmentally friendly energy sources via grid balancing or peer-to-peer energy trade. 

Travel: The project will facilitate travel planning by locating the best deals on car rentals, hotel bookings, flights, and related activities based on a user's budget and preferences. 

According to the Fetch.AI roadmap, there are many other potential aspects the project can introduce. Among the most notable ones include the Fetch wallet and Fetch Station Explorer, besides the launch of numerous other external protocol integrations and a new features ecosystem. 

Moreover, Fetch has plans to launch Axim, a high-tech collaborative learning platform, a wallet that supports non-fungible tokens (NFTs), a faucet support within the wallet, and an entire suite of other new products and features.  

## How Fetch crypto is secured 

Fetch crypto is secured via a Proof of Stake (PoS)-based consensus mechanism that integrates AI. The network uses a differential privacy setup that protects users' privacy while ensuring the platform remains transparent and decentralized. 

The system uses cryptography and game theory consensus mechanisms that are censorship-free. By combining the PoS protocol and other technologies, Fetch.AI guarantees a high level of security within the network as the nodes validate transactions on the ledger. 

## How to buy Fetch crypto 

You can begin investing in the Fetch crypto by buying it from a cryptocurrency exchange that supports it. 

- Create an account and follow the identity verification process to completion. 
- Click on the deposit button to up the desired amount of cash or crypto based on your preferred payment method. 
- Proceed to the market and search for FET 
- Click on “BUY” and infill the amount you require  
- Voila! You now have access to the Fetch crypto. 

## Conclusion 

Fetch.AI offers far-reaching proposals on the potential of an open-access blockchain ecosystem to revolutionize a wide range of sectors and industries by integrating blockchain, machine learning, and artificial intelligence. 

As the technology behind the projects continues to advance, we can only expect more innovations in different industries and disruption of many other sectors. 

Learn the features and tokenomics of Fetch crypto 

We have exciting Shibarium news for you! On 16 August, 2023, Shiba Inu's Shibarium Ethereum Layer 2 (L2) FINALLY went live on mainnet, after months of beta testing, which saw millions of the Shiba Inu faithful participate and 21 million wallets created. 

On a slightly sour note, though, the Ethereum L2 scaling solution almost immediately experienced an unprecedented surge of traffic, receiving millions of "compute units of traffic within moments”, according to Khal Dhairya, a top Shibarium developer. Unsurprisingly, this traffic rush led the system to go into fail-safe mode. 

In a detailed [blog post](https://blog.shib.io/shibarium-update/) published on 18 August, Dhariya outlined the course of action. 

The Shibarium team "slowly and carefully investigated where the problem occurred and found thousands upon thousands of contract creation and normal transactions IN ONE BLOCK. At this point, the amazing system of Shibarium (proudly a fork of Polygon) went into fail-safe mode and stopped to ensure funds are safu… and they are.” 

At the time of writing, the Shibarium and Unification teams have identified numerous plausible courses of action. They are working tirelessly to "execute" these plans to "bring up the blockchain". 

Considerable FUD followed and the price of Shiba Inu [(SHIB) was affected](/news/article/understanding-shitcoins). I expect the Shibarium development team to iron out these issues at the earliest. That said, what can we realistically expect from SHIB in 2023? 

## Shibarium news: SHIB price fell after scaling solution went live 

According to [CoinMarketCap data,](https://coinmarketcap.com/currencies/shiba-inu/) SHIB started the day at just over $0.00001 (16 August). Following the launch of the mainnet and the system's almost immediate transition into fail-safe mode, widespread FUD ensued. 

![Screenshot of conversation](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_09_08_at_09_32_07_a5a5610048.png)

This screenshot went viral on X (formerly Twitter), causing incredible harm to the Shibarium system’s state. Following the minutes and hours of this screenshot going viral, SHIB’s price plummeted nearly 25% to $0.000007843 in the wee hours of the morning on 18 August. 

Dhairya's blog post on 18 August calmed some nerves, though, and the cryptocurrency's price improved, albeit slightly, to a modest $0.000008475 at the time of writing. It is no secret that SHIB will recover, and the Shibarium scaling solution will go live soon, stronger than ever before. 

Dhairya urged X "to help identify the culprit so they can be brought to justice. Such attacks upon our system by bad actors will not be tolerated." 

Given Elon Musk’s [documented affinity](/news/article/bonk-cryptocurrency) towards SHIB, we would not be surprised if action is taken swiftly. 

The real question is, what price can we expect SHIB to achieve by the end of 2023 following the Shibarium news? 

## SHIB price predictions 2023 

It is never easy to predict the price of a cryptocurrency, especially in a bear market such as ours today. We asked ChatGPT the same question, and the AI tool did not provide us with a concrete answer. Google Bard, though, gave us some fascinating insights into what could influence the price of SHIB after the latest Shibarium news. 

According to Google Bard, the Shibarium Ethereum L2 scaling solution is designed to improve performance and scalability. The L2 could prove to be an attractive option for SHIB enthusiasts and other users looking for a high-performance and low-cost blockchain. A high adoption rate could see a rise in Shiba Inu’s price. 

Similarly, increased Shibarium adoption by developers could positively affect the cryptocurrency's price. If Shibarium is seen as a solid alternative to Ethereum for decentralised application (DApp) development, several projects could be open to building on the L2. 

On 15 August, Shytoshi Kusama, Shiba Inu’s lead developer, shared [a post on X](https://twitter.com/kuro_9696_9696/status/1691483805969006592?s=20) that suggests that there are already over 100 companies building on Shibarium! [The future seems bright](/news/article/shiba-inu-crypto). 

Last but not least, positive Shibarium news could go a long way in driving the price of SHIB upwards. Following the recent Shibarium FUD, the only way forward is to move forward! 

Taking all these factors into consideration, the cryptocurrency’s tokenomics, and existing price predictions by reliable sources, SHIB could end 2023 between $0.00001 and $0.00003. It is more likely than not that Shiba Inu will end 2023 between $0.0000125 and $0.00002. 

I am not very bullish. While I believe Shibarium is solid and necessary, the crypto market's current state is such that a massive price increase is very unlikely. 

As always, please DYOR. This is merely speculation, not financial advice. Hope for the best and happy SHIBing! SHIB to the moon! 

Shibarium news: SHIB to the moon? 

Cybercriminals use various ways to hide their [misdeeds](/news/article/cryptocurrency-crime-rise), such as masking their transaction history and [laundering money](/news/article/crypto-aml) through cryptocurrencies. Fortunately, investigators are now well-equipped with fraud detection tools and software, including the Bitcoin extractor. 

This article explores what BTC extractors are and how they work to extract addresses from numerous data sources. 

## What is a Bitcoin extractor? 

It is a tool designed to obtain BTC addresses from a string of text or code. Addresses can be extracted from numerous sources, such as text documents, websites, emails, chat logs, and images. The primary function of a BTC address extractor is to locate strings of characters that match the structure of a Bitcoin address.  

Moreover, these scripting tools can work for deducing both public and private keys. These tools can scan any data source and gather crypto addresses from them. After that, they present the output in a CSV file to easily be used to track transactions or recover stolen assets. 

## How does a Bitcoin extractor work? 

These extractors rely on different types of machine-learning algorithms that are trained to detect crypto addresses. Generally, the first stage in gathering BTC addresses is pattern recognition. They get familiar with the alphanumeric structure of a BTC address and look for patterns in them.  

Secondly, the tools thoroughly scan sources to find strings that fit the recognised pattern. The scanning then reveals potential BTC addresses, but there can be some false positives, too.  

Some tools may also run multiple verification checks to ensure that the outcome they provide is a genuine Bitcoin address. The verification process may include performing cryptographic calculations. 

Finally, the extractor compiles the list of all the addresses found in the source data in a CSV file. It also includes the file path where the address was found, along with a globally unique identifier (GUID). Users can then use this list for various purposes, such as verifying transactions, conducting audits, or managing user accounts. 

## What is Nuix Bitcoin Extractor? 

It is a [Bitcoin extractor](https://github.com/Nuix/Bitcoin-Extractor) designed by the UK South West Regional Cyber Crime Unit (SWRCCU). It is one of the most trusted tools for obtaining BTC addresses and public and private keys (xPubs/xPrvs). 

Nuix is a powerful software that relies on the data indexed by Nuix Workstation and can locate help in fraud investigations. 

It is a Ruby script developed for scanning plain texts. However, it can work with varying datasets from cloud storage, smartphones, laptops, or other devices. For pattern recognition, it uses a regular expression method that helps find the hidden addresses in the source data. 

After that, Nuix uses a Python script to validate the output. It can also gather further details like transaction history, wallet balance, and throughput value. Then, it sorts out all the findings and presents them in a CSV format.  

## Why do we need a BTC extractor? 

A BTC key extractor can be used for a wide range of purposes. Here are a few of them: 

1. It can be used for fraud detection as it can detect an address involved in fraud.  
2. Forensics can use it to find an address from retrieved data that may be helpful in asset recovery. 
3. Investigators can use it to track the flow of Bitcoins between different wallets to prevent illegal activities.   
4. You can track your own transactions, which can help manage personal finances.  

## Final thoughts 

A Bitcoin address extractor is a valuable tool that enhances the efficiency of handling Bitcoin addresses. 

Recognising and validating addresses from various sources empowers you to verify transactions, prevent fraud, and ensure accuracy. You can also manage your finances through these tools by keeping track of transactions. 

What is a Bitcoin extractor and how does it work? 

Aptos and Sui are two emerging layer 1 (L1) blockchains with promising efficiency and scalability. However, both differ in terms of their mechanism and architecture. In the Aptos vs. Sui battle, how do you pick the ideal L1 for your blockchain project? 

This article explores the features and potential to determine which holds the upper hand as the ideal L1 blockchain solution. 

## Consensus mechanism 

Although both use different versions of the Proof of Stake (PoS) consensus mechanism, they are still distinct. The first relies on the PoS based on the Byzantine Fault Tolerance (BFT) to enhance security and high-speed transactions. 

In contrast, Sui uses a Delegated PoS (DPoS) mechanism that increases decentralisation and efficiency. Also, it depends on the Narwhal and Bullshark protocol through which it can process transactions in parallel.  

## Privacy and security 

The [Aptos](https://aptoslabs.com/) vs. [Sui](https://sui.io/) comparison shows that both blockchains have similar approaches. Both L1 blockchains rely on the secure smart contract language, Move, for their basic model. The use of this language in both Sui and Aptos makes them safe and transparent. 

Although Move ensures privacy and security, formal third-party audits are still essential. Both Aptos and Sui have ensured it by undergoing audits from different external platforms. 

Aptos has been audited by renowned security firms like Halborn, Certik, OtterSec, and MoveBit. Similarly, Sui is regularly audited by firms like Halborn and Zellic.  

## Scalability 

In terms of scalability, both perform well, but their approaches differ. 

Aptos has a standard modular design, which is easy to customise, giving the network flexibility. Besides, it works with the parallel execution of transaction techniques to maximise the network capacity. It helps in improving the network’s speed and provides scalability.  

On the other hand, Sui has a directed acyclic graph ([DAG](https://en.wikipedia.org/wiki/Directed_acyclic_graph)) design with multiple layers. It relies on sharding techniques to improve its TPS (transactions per second). The blockchain’s structure can split different processes like data storage, consensus, and computation, which inflates overall scalability and efficiency.

## Tokenomics 

At the launch of the Aptos mainnet, 1 billion [APT tokens](/news/article/aptos-crypto-2023-investment) were introduced. Around 82% of this total supply is reserved for PoS contributions. However, Aptos Labs provides the initial token distribution breakdown as follows:  

![Black and white comparison table](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_30_at_11_29_21_e6eaa10ac5.png)

In comparison, Sui has provided a clearer overview of its economy via its [whitepaper](https://github.com/MystenLabs/sui/blob/main/doc/paper/tokenomics.pdf?ref=blog.sui.io). The total supply of its native tokens is 10 billion, distributed in five parts. The largest part (50%) is reserved for the community, and the other four elements are divided among early contributors, investors, Mysten Labs treasury, and community access program and app testers. 

![Sui Token Distribution by Sui](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_30_at_11_30_15_16008a4d88.png)

## Aptos vs. Sui: Final verdict 

The comparison shows that both L1s offer solid infrastructures for deploying smart contracts. They provide architectures that are scalable, efficient, and secure. 

However, both projects are nascent and have yet to impact the industry. So, it will be crucial to see how the two compete with the L1 giants like [Ethereum](/coins/eth), Solana, and others. 



Aptos vs. Sui: Which is the ideal L1 blockchain? 

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? 

Blackberry Inu (BKBY) is a newly launched [meme coin](/news/article/meme-coins) in crypto. Like [DOGE](/coins/doge) and SHIB, these coins also aim to introduce a community-driven platform through which all members can earn rewards. The project is deployed on Ethereum and offers around 100 million tokens. 

This article will explore the new meme coin project and uncover its potential. So, let's find out!  

## What is Blackberry Inu? 

BKBY plans to build an ecosystem like other meme coins with an incentive-based system. It allows you to hold tokens and earn rewards based on the duration you hold them. The [Shiba Inu token](/news/article/shiba-inu-crypto) will also play a vital role in its rewarding program.  

The project is focused on developing a completely decentralised platform that puts the community at the centre. It is also dedicated to mitigating the risk of data leaks in most centralised platforms. Apart from that, the token will likely have several real-world uses, so users can purchase goods and services with it.  

## Blackberry Inu price and tokenomics 

It is still a very new project and has yet to be listed on any major exchanges. Although it gained some traction recently, its price has[ still been volatile](https://www.livecoinwatch.com/price/BlackberryInu-BKBY). 

The tokenomics of BKBY is designed to encourage holders to stake their tokens and play a role in the community. The total supply of these tokens is 100 million, of which 50% will be burned at the launch. Meanwhile, the transaction fee on the platform is 8%. Half the fee is distributed among token holders, while the other half is added to the liquidity pool. Overall, the BKBY tokenomics is designed to boost community participation. 

## Is BKBY coin a good investment? 

It is a recently developed project not listed on any trusted exchanges. Besides, the project's official website isn’t active, and there is no other source to verify the information. 

In addition, there is a lack of clarity regarding its tokenomics and rewarding system as to how it will use the Shiba Inu tokens. Therefore, the future of BKBY seems uncertain right now, so carry out proper research before investing any amount. 

Exploring the Blackberry Inu ecosystem

This article is a B[itcoin Era](https://bitcoinera.app/) review, examining the robotic crypto trading system that has left many wary about its legitimacy. 

Crypto trading has recently become a prevalent way of generating passive income. Due to this, many platforms have emerged that use advanced algorithms and artificial intelligence to assist investors in trading. However, it is never risk-free to trade crypto, particularly on these platforms. Therefore, it is advisable to be careful while dealing with such trading forums.  

Let's delve to find out whether Bitcoin Era is a safe option to trade cryptocurrencies or not. 

## Bitcoin Era review: What is it? 

Bitcoin Era is a trading bot for cryptocurrencies that claims to use advanced AI algorithms to automate trades. It allows the traders to develop a simple[ crypto trading strategy](/news/article/simple-cryptocurrency-trading) that requires minimal observation and follow-ups. It is a web-based platform that can make trades on your behalf, so you do not constantly have to monitor market trends. 

According to the website, investors can buy or sell more than 15 coins, including popular ones like[ Bitcoin](/coins/btc), [Ethereum](/coins/eth), [Ripple](/coins/xrp), and [Litecoin](/coins/ltc). It also gives you four options for fiat currencies: USD, GBP, JPY, and Euro.  

It does not cost you to set up an account on Bitcoin Era. Still, you need a minimum deposit of $250 to start automated trading. Meanwhile, the trading web app only charges a trading fee of 2%, and there are no fees for withdrawals and deposits.  

The website maintains that the investors using its unique services have a success rate of around 85%. However, this claim is not backed by any sources or independent Bitcoin Era review. Therefore, the legitimacy of the platform remains in doubt. 

## Bitcoin Era review: Pros and cons 

Now, let's look at some of the pros and cons in our Bitcoin Era review. 

### Pros 

- Easy-to-navigate interface. 

- Supports buying and selling of multiple assets. 

- Offers demo accounts. 

- No deposit or withdrawal fees. 

### Cons 

- Unverifiable claims of success rates. 

- Lack of positive reviews for the platform. 

- The initial deposit amount is relatively higher. 

## Which features does Bitcoin Era offer? 

Here are the main features that the web app claims to offer to its clients: 

### Intuitive interface 

The web app asserts that it provides an easy-to-use interface to make trades. The automated trading feature creates further ease for investors as they can start with virtual assets without prior knowledge.  

### Multi-asset trading 

The trading forum also supports around 15 cryptocurrencies, including the leading ones like BTC, ETH, ADA, and DASH. It lets you build a diverse portfolio of all the popular coins in the market. 

### Options for both manual and automated trades 

The platform is known for its copy or automated crypto trading services. It holds that its AI-based trading services can make up to 85% of investor profits. Nevertheless, this tall claim is not supported by any data.  

It also allows you to trade manually based on your own market insights. You can even use the forum to educate yourself about market trends. It offers real-time market analytics that makes [crypto investing strategies ](/news/article/crypto-invest-strategy)even for beginners. 

### Demo accounts to gain experience 

You can have a demo account if you are a novice trader and need more confidence about entering the real market. You can avail yourself of this free service by registering on the platform. 

The demo account enables you to hone your skills and gain knowledge about how the crypto market works. A demonstration account can also be useful for seasoned traders as they may test their different trading strategies. 

### Minimal fees 

The platform also claims to have a no-fee policy. It does not charge any fee for creating an account. Similarly, no additional charges exist for withdrawing or depositing money in your account. It only charges a trading fee of 2% of the amount you transfer or receive. However, the Bitcoin Era app does require an upfront deposit of at least $250.  

### Swift registration process 

The cryptocurrency exchange forum has a swift registration process. Even though it follows the Know Your Customer (KYC) requirements, the signup procedure is instant. You only need to provide basic personal details and can get started on the platform. 

## Bitcoin Era review: Is it a scam? 

A review of the web app suggests that it is an automated cryptocurrency trading system that offers advanced market insights. It caters to seasoned and novice traders by offering automated and manual trades. Besides, it seems an inexpensive option as it does not charge any fees for registration, withdrawals, or deposits. Plus, you will have enough cryptocurrencies to diversify your portfolio with options ranging from Bitcoin to Binance Coin.  

However, what makes one suspicious about the platform is its exaggerated claims and marketing tactics. For instance, its claim of 85% profit seems grossly inflated as it is not substantiated with data. Moreover, only a few independent reviews support these claims. As a result, the entire image of the platform becomes dubious. 

## Final verdict 

Although there are no direct signs of a scam, it provides misleading information. This is what makes such platforms quite risky. So, considering the Bitcoin Era as an investment opportunity, it's crucial to be aware of the risks involved. Ensure to follow a robust risk management strategy and carry out thorough research. 

Bitcoin Era review: Is it a legit trading platform? 

To short a crypto, such as Bitcoin, refers to the process of borrowing and selling a cryptocurrency with the hope that its price will decrease in the future. 

It allows one to buy the asset at even lower prices later to gain profits. It is a profitable short-term investment plan that involves higher risks. 

However, you do not have to deal with individual cryptocurrencies for shorting. Instead, you can invest in derivatives such as [21Shares Short Bitcoin ETP](https://21shares.com/product/SBTC). It is an exchange-traded product (ETP) that enables you to get daily inverse profits. Let's find out what it is and how it works. 

## What does it mean to short Bitcoin?  

Before we move on to 21Shares short BTC, let's first discuss what exactly shorting BTC is. Shorting is a technique that enables you to make daily profits when the BTC price is depreciating. This way, you can make gains even when market conditions are tough. 

It is a way of leveraging the dipping price of the coin by getting inverse profits. It means you can sell the borrowed crypto at a higher price, considering it will depreciate continually. 

So, when the price of Bitcoin declines, you can buy it back and return it to the lender. This allows you to make gains from the fluctuating price of Bitcoin. 

Now, many crypto trading platforms offer various types of derivatives in the form of contracts for difference (CFDs). These may also include exchange-traded products (ETPs). 

## What are ETPs? 

A crypto ETP is an investment vehicle that uses crypto tokens as its backing. It is quite similar to traditional investment vehicles, usually backed by gold. Similarly, these products can be traded on exchanges like any other stock.  

The main difference here is that they are backed by cryptocurrencies like Bitcoin and allow you to track their performance in the market daily. A prominent example of a crypto ETP is Fidelity Physical Bitcoin (FBTC). 

## What’s 21Shares Short Bitcoin ETP? 

It is an offering by the 21Shares platform denoted by the ticker SBTC. SBTC is a product through which you can get inverse BTC returns of -1x. The returns are based on daily price fluctuations and are multiplied by -1. Since they depend on daily price variations, you cannot hold Bitcoins for longer periods. Therefore, you must know the right holding spans and the risks involved in shorting.  

The procedure of short Bitcoin involves borrowing BTCs from the platform and selling it at the same time before the value is expected to decrease. Through this, you can generate profit from the declining price of BTC. You have to use USD or US Dollar Coin (USDC) along with BTCs as collateral for using the SBTC product. 

## Benefits of using SBTC 

There are various upsides to opting for the SBTC product by 21Shares. Firstly, it allows you to navigate [the bear cycles](/news/article/crypto-bear-market-survival) by offering inverse returns. Secondly, it gives you daily liquidity that can assist you in day-to-day trading. You can open and close trades within 24 hours.  

Apart from that, inverse returns can also help you in rebalancing your portfolio. Since the -1x factor resets after each day, your portfolio can adjust to the price fluctuations easily. Moreover, the platform offers an institutional standard system that can facilitate you in terms of crypto custody, trading features, and analytics. This smoothes out the entire procedure and creates convenience for you.  

## What are the costs of 21Shares Short Bitcoin ETP? 

According to Boerse Frankfurt, the current price of the ETP is 0.7197 for 84,845 pieces. Yesterday, the closing price was 0.7201, and there was a difference of around 0.22%, whereas the spread absolute was around 0.0015. Aside from that, the daily turnover in the number of pieces has been 13,614.  

In the past 52 weeks, the lowest difference has been 0.6794. Meanwhile, in the same period, SBTC observed the highest difference of 1.8631. 

Here’s what the one-year chart for the Short Bitcoin looks like: 

![Chart of Short Bitcoin](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_08_04_at_15_47_59_5b2c09e8a2.png)

The chart shows that with the start of 2023, the cost of the ETP started to fall. The main reason behind it is that Bitcoin’s price has made substantial gains this year and has maintained [an upward trend that started in December 2022](/news/article/btc-price-today). It affected the inverse return mechanism, which performs best when the market shows bearish signals. On the other hand, SBTC performed comparatively higher in the last five months of 2022.  

## Closing thoughts 

21Shares Short BTC product presents a unique investment opportunity for those looking to hedge against potential downward movements in the price of Bitcoin. The product’s inverse performance makes it highly competent for the bearish market. That’s why if you use it strategically, you can generate high returns even in bearish cycles.  

However, short Bitcoin is a high-risk and high-reward strategy. So, if you are looking to invest in SBTC, you must have an advanced level of trading knowledge. But it is advisable to be fully prepared for risk management and only invest according to your risk appetite.  

21Shares Short Bitcoin ETP: All you need to know 

Dubbed the "dog coin for the people by the people", a new coin recently joined the growing line of dog-themed meme coins, which have become a sensation in the cryptocurrency space. The first one in the Solana (SOL) blockchain, Bonk Inu ($BONK), rallied over 3,600% during the first week after its launch. This article explores the Bonk Inu token, how it compares with other [Memecoins](/news/article/meme-coins), and whether it’s a good investment.     

## What is Bonk cryptocurrency?  

The year 2022 shook the cryptocurrency market to its core, thanks to the highly volatile conditions that led to the collapse of leading market players like cryptocurrency exchanges FTX and others. The Solana network (SOL), a popular destination for innovative crypto projects focused on fun and engagement, wasn’t spared either, enduring severe body blows from vulturine practices of VC token holders mainly interested in profiting from the platform. It’s amid that depth and darkness that the launch of Bonk cryptocurrency brought a sigh of relief to the Solana blockchain.  

Launched on 25 December, 2022, with an airdrop of 50% of its entire token supply, Bonk is a dog-themed [meme coin](/news/article/what-is-a-meme-coin), a Solana-based replica of Dogecoin (DOGE) or Shiba Inu (SHIB). Bonk Inu is essentially a meme coin designed to support its community while also focusing on advancing the platform’s liquidity. In explaining its vision, the token’s [whitepaper](https://uploads-ssl.webflow.com/63d9862f53dc8e65d16eb0e0/63de6fb910d0b94a933c4a2f_BONK-PAPER-040223.pdf) says it aims to overturn the adverse effects of the platform’s being a victim of exploitative venture capitalists and allow community members to restore the power and control of the network to themselves while having fun with BONK tokens.  

## Bonk Inu features and how it works  

The BONK primary utility is a community token meant to empower Solana’s ecosystem, including integrations with the decentralized applications (DApps) built on the blockchain. Besides rewarding the current Solana community members, the token aims to welcome new members by providing a user-friendly entry point for retail users to decentralized finance (DeFi), self-custody, and NFTs.   

While Bonk cryptocurrency falls in the category of meme coins such as Dogecoin, Shiba Inu, and others, it differs slightly from the rest as it’s explicitly designed to support its native blockchain while promoting its future development. The token’s primary utility is to try and push users’ interest toward the Solana ecosystem. Experts believe the enhanced circulation made possible by the initial airdrop could aid the Solana community to realize its potential. 

## Bonk tokenomics 

The official launch of Bonk cryptocurrency, coming just days before New Year’s Eve, gained significant attention since it airdropped half of its total supply of 100 trillion BONK tokens targeting artists, collectors, and developers. The distribution involved 20% of tokens going to investors of 40 leading NFT collections, 15% to those placing trades on OpenBook, and 10% to NFT artists and collectors, with 5% going to developers.    

## Where people use Bonk Coin ($BONK) 

Bonk cryptocurrency has two primary purposes, namely payments and price speculation. While the price has remained volatile since the initial airdrop – which is not strange regarding a new and small altcoin – a sizeable number of investors are buying and selling $BONK in the hope of making a profit.   

As a form of payment, $BONK aims to get fully integrated into Solana blockchain’s existing projects. A few businesses are already accepting BONK payments. Examples include Duel Casino, where users can bet on different casino games, or Aurory, which allows gamers playing against each other to receive their winnings in $BONK. While it doesn’t yet support additional use cases, the token already creates its niche among canine-themed memes.    

## How to buy Bonk Coin (BONK) 

To get started on the different platforms where you can buy $BONK, you need to create an account via email and use your basic personal details for verification. After that, you can connect your new account with your bank to buy Ether (ETH) or Tether (USDT), which you will need to swap for Bonk cryptocurrency tokens. The coin is already available on several decentralized exchanges.   

## Is Bonk Coin ($BONK) a good investment? 

Like all other digital assets, especially [popular meme coins,](/news/article/memecoins-whats-popular) investing in $BONK will depend on numerous factors. Still, it all boils down to a certain degree of speculation considering the developments in the crypto market. If you're going to invest in Bonk cryptocurrency, assess your risk tolerance and conduct your research. Should the project follow in the footsteps of Dogecoin and receive the support of the community, or the team increases the coin's utilities to promote its growth, the token has the potential to be a good investment. 

Bonk DOGE dog on image of trading statistics

Bonk Cryptocurrency: Solana Dog-Themed Memecoin

The cryptocurrency world is littered with slang terms that can confuse the uninitiated. One such term that has gained notoriety is "shitcoin". 

While it sounds unpleasant, understanding what it means is essential for all involved or interested in the cryptocurrency industry. In this article, I delve into the definition, implications, and controversies surrounding the term shitcoin. 

## Shitcoin: Decoding the term 

A shitcoin is a cryptocurrency that lacks value or credibility. Unlike well-established cryptocurrencies like [Bitcoin ](/news/article/bitcoin-forecast-2023)or [Ethereum](/news/article/ethereum-pow-price-prediction), shitcoins often don’t have a solid technological foundation, have little or no real-world utility, and are typically created with the sole purpose of making quick profits. 

Shitcoins are known for their volatile prices, susceptibility to pump-and-dump schemes, and a high risk of investment loss. 

## Characteristics of a shitcoin 

### Lack of Fundamental Value: 

Shitcoins often lack the technological innovation, underlying network, or practical use cases that define reputable cryptocurrencies. They may be created without a clear development roadmap, whitepaper, or experienced team, making them highly speculative investments. 

### Pump-and-Dump Schemes: 

Shitcoins are frequently associated with pump-and-dump schemes, where the creators or early adopters artificially inflate the price of the coin through misleading marketing or false claims. Once the price reaches a peak, holders sell their holdings, causing the value to plummet, leaving unsuspecting investors with significant losses. 

### Limited Liquidity and Exchanges: 

Due to their questionable reputation, shitcoins are often listed on lesser-known or unregulated cryptocurrency exchanges, limiting their liquidity. This lack of availability makes it difficult to sell or trade these coins, adding further risk to investors. 

## The controversy and impact of shitcoins 

### Market Volatility: 

The presence of numerous shitcoins in the cryptocurrency market contributes to its overall volatility. The sudden rise and fall of these low-quality assets can have a ripple effect on the entire market, affecting investor sentiment and leading to potential market manipulation. 

### Investor Protection Concerns: 

A shitcoin poses significant risks to investors, especially inexperienced or uninformed investors. Without proper due diligence, individuals can fall victim to fraudulent projects, losing their hard-earned money. The cryptocurrency industry's lack of oversight and regulation further exacerbates these concerns. 

## Reputational Damage: 

The prevalence of shitcoins has tarnished the overall reputation of the cryptocurrency industry. Scepticism and mistrust have become prevalent, hindering the widespread adoption of legitimate cryptocurrencies and blockchain technology. 

## Identifying and avoiding a shitcoin 

Before choosing to invest in any cryptocurrency, it is crucial to conduct extensive research. Evaluate the project's technology, team members, use cases, and long-term goals. Look for whitepapers, active communities, and partnerships to assess the legitimacy and potential of the coin. 

By adopting a cautious approach and being mindful of the risks associated with a shitcoin, investors can safeguard their assets and contribute to the long-term sustainability of the cryptocurrency market. 

Investing in well-established cryptocurrencies with a proven track record and solid reputation significantly reduces the risk of falling victim to shitcoin schemes. Coins like Bitcoin, [Ethereum](https://ethereum.org/en/), and [Litecoin](https://litecoin.com/en/) have stood the test of time and have a broad user base.

## Regulatory measures and industry efforts 

To protect investors and combat the proliferation of shitcoins, regulatory bodies around the world are taking action. 

Governments and financial authorities are implementing stricter regulations, such as KYC (Know Your Customer) and AML (Anti-Money Laundering) policies, to ensure transparency and accountability in the cryptocurrency space. These measures aim to weed out fraudulent projects and provide a safer investment environment. 

Within the cryptocurrency industry itself, efforts are being made to address the shitcoin issue. Community-driven platforms and forums actively engage in discussions, scrutinising new projects and raising awareness about potential scams. 

Additionally, reputable blockchain projects and industry leaders often condemn and distance themselves from the promotion or endorsement of shitcoins, aiming to protect the integrity of the ecosystem. 

## The role of investor education 

Amid the proliferation of shitcoins, investor education plays a crucial role in mitigating risks and promoting responsible investment practices. 

Understanding the fundamentals of blockchain technology, reading whitepapers, and staying updated on industry news can equip individuals with the knowledge needed to differentiate between legitimate projects and shitcoins. 

Furthermore, fostering a culture of scepticism and critical thinking within the cryptocurrency community is vital. Encouraging open discussions, sharing experiences, and highlighting red flags can collectively help identify and expose potential scams. 

Educational initiatives, online courses, and workshops dedicated to cryptocurrencies and blockchain technology are emerging to bridge the knowledge gap. By promoting financial literacy and empowering investors with the necessary tools, these educational resources aim to reduce the prevalence of shitcoins and foster a more informed and resilient investor community. 

## Conclusion 

In the volatile and rapidly evolving world of cryptocurrencies, a shitcoin serves as a reminder of the risks and challenges investors may face. 

While the term may sound derogatory, it reflects the need for caution and discernment in choosing investment opportunities. Understanding its implications is crucial for navigating the cryptocurrency industry. 

By recognising the characteristics and risks associated with a shitcoin, investors can make more informed decisions, protect their assets, and contribute to the overall growth and legitimacy of the digital asset space. 

The cryptocurrency ecosystem can continue evolving toward greater transparency and reliability through regulatory measures, industry efforts, and individual responsibility. 

poop emoji overlaying image of pile of cryptocurrency coins

Shitcoin: Understanding the controversial term 

[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? 

Crypto Coin News

Crypto coins or tokens are representations of values stored on the blockchain. Cryptocurrencies, literally cryptographic currencies, are simply the digital, blockchain-based equivalent of our normal or 'fiat' currencies. The most famous (and first) crypto coin is Bitcoin. 

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