Cryptocurrency price LIVE – Shiba Inu, Metaverse, and Ethereum prices revealed as Matt Damon stars in Crypto.com ad

Crypto.com coin price prediction

The Crypto.com Coin cryptocurrency hit a record high on November 15, reaching $0.52 at its peak, according to CoinMarketCap.

In comparison, it was sitting at just $0.05966 on January 1 this year.

The Crypto.com token has increased in value thanks to a number of factors.

For example, it has secured several high-profile sponsorship deals in 2021 including the UFC, Formula One Racing, and Matt Damon’s Water.org.

From December, the Staples Center – home to the Lakers and Clippers – will also be called Crypto.com Arena.

Whether the Crypto.Com Coin continues to soar in value remains to be seen, but plenty of crypto fans have still made predictions.

For example, Wallet Investor expects the token to hit a value of $0.538 in one year and $0.8023 in five years.

Meanwhile, Digital Coin Price has set a 2021 forecast of $0.7036, a 2023 value of $0.9636 and it expects a 2028 price of $2.09.

Who founded Crypto.com?

Kris Marszlek has been the Chief Executive of Crypto.com since June 2016 and is based in Hong Kong.

Bobby Bao is a co-founder and managing director of Crypto.com, which was formerly known as Monaco.

Gary Or is another co-founder and is the head of technology at Foris – a universal money app, according to topionetwork.com.

The other co-founder is Rafael Melo, who, according to Topio Network, has 15 years’ experience in finance.

Crypto.com coin, continued

Crypto.com itself is one of the fastest-growing cryptocurrency businesses in the world.

Keegan Francis, crypto editor and expert of Finder, told The Sun the coin has many uses, but most notably is that it can be used to stake crypto on the mobile app in order to get the Crypto.com Visa debit card.

He added: “Staking higher amounts of CRO across the platforms rewards users with more features and rewards.

“Investors need to keep in mind that the token itself is tied directly to the success of the Crypto.com ecosystem.

“That being said, Crypto.com has taken the initiative to decentralize CRO by building it into their own decentralized blockchain called Crypto.org.

“This is a good step for them to take in order to ensure the longevity of their token.

“It creates less dependence on the company itself, and begins to build out an independent community of developers, and market participants.”

What is the Crypto.com coin?

The Crypto.com Coin is the native token of the Crypto.com and Crypto.Org ecosystems.

Also known as CRO, it launched at the end of 2018.

The Crypto.com chain was created to build a network of crypto projects and to develop merchants’ ability to accept crypto as a form of payment, according to its website.

Businesses can use Crypto.com pay checkout and/or invoice to allow customers to pay for goods and services with crypto using the wallet app.

The firms then receive their payments in CRO, stable coins, or in fiat currency, which is government-issued money like dollars or pounds.

Seven crypto ads banned, part two

The Advertising Standards Authority is looking to produce new guidance on cryptocurrency.

Monitoring crypto assets is a “red-alert priority” for the regulatory agency, BBC News reported.

The news outlet said companies with ads found to have broken the rules were:

• Coinburp: A Twitter page for the cryptocurrency trading platform
• eToro (UK): A paid ad for the stocks and cryptocurrency trading platform
• Payward: A digital poster for Kraken, an online cryptocurrency exchange
• Exmo Exchange: A YouTube video promoting the cryptocurrency exchange
• Luno Money: An in-app ad for the cryptocurrency exchange service Luno
• Coinbase Europe: A paid Facebook ad for the cryptocurrency exchange platform
• Papa John’s GB: A promotion on the Papa John’s pizza restaurant chain’s website and in a Twitter post

UK regulator bans seven crypto ads

The United Kingdom’s Advertising Standards Authority (ASA) banned seven cryptocurrency advertisements following concerns.

BBC News reported one banned ad included a promotion by a pizza chain while a second involved Facebook ads for a big cryptocurrency exchange.

All seven ads were “banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment,” the news organization reported.

NFT sold far under intended price

The owner of a Bored Ape non-fungible token (NFT) accidentally sold the virtual art for $3,000 instead of $300,000.

The digital art was initially purchased by an automated account that instantly put it back up for sale for nearly $250,000.

The seller told CNet that he meant to list the price at 75 Ethereum (ETH), the preferred cryptocurrency for making NFT transactions.

After making many online trades that day, he said he suffered from a “lapse of concentration” which caused him to type in “0.75 ETH.”

“I instantly saw the error as my finger clicked the mouse but… it was instantly sniped before I could click ‘Cancel’ – and just like that, $250,000 was gone,” he said.

Major meme coins, part two

Another dog meme that has picked up traction this year has been Saitama inu, whose logo appears to feature a wolf surrounding a human face.

“Tokens like Shiba Inu, Dogecoin, and newest gainer Saitama are all a part of the evolution of digital finance in their own unique way,” Chris Kline, chief operating officer and co-founder of Bitcoin IRA, recently told The Sun.

Separately, Tiger King is a meme coin based on the popular Netflix series that picked up strong momentum.

The major meme coins

The surge of the meme coins this year all started with Dogecoin.

That was then followed by Shiba Inu, which both feature the same dog breed in their logos.

The image became a popular internet meme called doge, and it features the dog surrounded by text in the comic sans font with words like “much wow.”

Both Shiba and Dogecoin have been popular dog meme coins this year.

What are meme coins?

A meme coin typically gains off a social media or an internet-based joke.

It all started with GameStop and AMC earlier this year, when a Reddit mob trolled short-sellers by driving up the prices of those stocks.

The memes then spread over to cryptocurrencies – and there are now a few major ones today.

What is an NFT marketplace?

An NFT is a non-fungible token.

Non-fungible tokens, in contrast to Bitcoin, are each unique and cannot be replaced by something else.

The majority of NFTs exist within the Ethereum blockchain. Ethereum is a cryptocurrency that has the ability to support NFTs.

NFTs can be anything digital, and are commonly being used as a way to buy and sell digital art.

An NFT marketplace is used to list NFTs and ensure they are accessible for trading.

Marketplaces allow users to promote their NFTs, where buyers can browse through and bid on what they would like to purchase.

Trader on cryptocurrency losses, part two

The investor didn’t give up on new coins and bought into SHIB after hearing rumors that it had been found in Tesla‘s source code and would potentially be used as a payment option for the company.

The rumor turned out to be untrue, leaving the trader in the red again.

The third and last time was before the new coin Matic was announced. The trader said they bought up the coin too close to the announcement date.

“Anyway, don’t believe in rumours and hype, just stick to your usual crypto plan”, the trader said.

Trader details their cryptocurrency losses

An investor revealed online how they lost a fortune after buying cryptocurrency based on rumors — three times.

The anonymous trader described the losses on Reddit, saying their first loss on Cardano hurt the most.

“Everything about the announcement seemed legit: It’s not a sh**coin, Smart contracts are a thing and there was a lot of hype,” the trader said.

The trader said as soon as Cardano went live, its price tanked leaving the trader at a huge loss.

Sending cryptocurrency on WhatsApp

WhatsApp, a popular messaging app, is testing a cryptocurrency payment feature for some users in the US.

Meta, formerly known as Facebook, owns WhatsApp and is letting some users send and receive Pax Dollars.

Pax currency is deemed a “stablecoin” because it’s connected to the US dollar.

The feature is powered by Novi, Meta’s digital wallet.

According to Novi, making payments will be easy, like sending other kinds of attachments in WhatsApp.

There’s no word on when the cryptocurrency payment feature might roll out to more users and countries.

Why is Bitcoin bad for the environment?

The problem surrounds the amount of energy used to mine a single Bitcoin.

Computers are needed for complex mathematical calculations to put a new Bitcoin into circulation online.

This process is also known as mining.

A lot of energy is needed for Bitcoin mining and some experts are concerned that vast amounts of fossil fuels are being used to create this energy.

What is Ethereum?

Ethereum is a cryptocurrency that was released in 2015. It’s the second largest after Bitcoin.

In fact, some experts believe it has the potential to one day overtake Bitcoin as the dominant coin in the market.

It was founded by eight people, one of which is 27-year-old cryptocurrency “celebrity” Vitalik Buterin.

He recently became the world’s youngest crypto billionaire as Ethereum soared in value.

Ethereum is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.

China stopped its crypto exchanges

In 2017, China shut down its local cryptocurrency exchanges.

Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies.

China’s crackdown ‘big opportunity’ for US

China’s crackdown on cryptocurrency transactions “is a big opportunity for the U.S.”, according to Pat Toomey, the top Republican on the Senate Banking Committee.

This comes as the US Securities and Exchange Commission lobbied for more regulations when it comes to cryptocurrency.

China’s crackdowns on crypto

While crypto creation and trading have been illegal in China since 2019, further crackdowns this year by Beijing warned banks to halt related transactions and closed much of the country’s vast network of Bitcoin miners.

The previous statement by the central bank sent the strongest yet signal that China is closed to crypto.

China’s statement, continued

Bitcoin, the world’s largest digital currency, and other cryptos cannot be traced by a country’s central bank, making them difficult to regulate.

The crypto crackdown opens the gates for China to introduce its own digital currency, which it is already working on and will allow the central government to monitor transactions.

China’s statement on cryptocurrency

The PBOC said it will “resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people’s properties and maintain economic, financial and social order”.

It said that trading of virtual currencies had become “widespread, disrupting economic and financial order, giving rise to money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities.”

Risks of investing in cryptos, part five

Finally, the truth in marketing materials is a risk in investing in cryptos.

Firms may overstate the returns of products or understate the risks involved.

Risks of investing in cryptos, part four

Another risk of investing are the charges and fees.

Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.

Risks of investing in cryptos, part three

A third risk of investing in cryptocurrencies is product complexity.

The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.

There is no guarantee that cryptoassets can be converted back into cash.

Converting a cryptoasset back to cash depends on demand and supply existing in the market.

Risks of investing in cryptos, part two

Another risk of investing is price volatility.

Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.