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What Role Should Shiba Inu, Bitcoin, and Ethereum Play in Your Portfolio? – Motley Fool

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Returns as of 11/07/2021
Returns as of 11/07/2021
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
Cryptocurrencies have taken the world by storm. With tokens including Shiba Inu (CRYPTO:SHIB), Bitcoin (CRYPTO:BTC), and Ethereum‘s (CRYPTO:ETH) ether up roughly 75,000,000%, 110%, and 523%, respectively, this year, it’s not hard to see why. 
However, investors should still be mindful about which coins they put their money behind. Read on to see what role a panel of Fool.com contributors think three of the most popular cryptocurrencies should play in your portfolio. 
Image source: Getty Images.
Daniel Foelber (Shiba Inu)Shiba Inu, a cryptocurrency created as a joke to rival Dogecoin (which was also created as a joke), has taken the market by storm with its 14,044,998% price increase since launching on Aug. 1, 2020.
According to coinmarketcap.com, Shiba Inu has a market capitalization of $27.6 billion, even after its 45% plunge from its all-time high. On the surface, it may seem that Shiba Inu is valuable, but in reality, it has no intrinsic value whatsoever due to a virtually infinite supply and limited use cases. Instead, Shiba Inu’s value derives from its intangibles. More specifically, its entertainment value and casino-like characteristics that have, to be fair, made a lot of people rich.
Shiba Inu’s insanely high market cap is similar to the kind of values given to non-fungible tokens (NFTs). NFTs represent ownership of a digital asset, such as artwork or a tweet. Some of the first NFT projects on the Ethereum blockchain, such as the fixed supply of 10,000 CryptoPunks NFTs, can fetch very high values. On Thursday, one of these NFTs was sold for 119 Ethereum, which is over $500,000. However, others have reached price tags in the millions.
So, what role should Shiba Inu, NFTs, and this brave new quirky subset of the crypto market have in your portfolio? The short answer is none whatsoever.
Fear of missing out (FOMO) can be emotionally taxing. And seeing others get rich on little more than luck and speculation can be a tough pill to swallow. But for the vast majority of investors, the risk/reward profiles offered by Bitcoin, Ethereum, larger altcoins like Solana or Cardano, and smaller altcoins like Polygon or Cosmos are a lot more attractive and potentially much more profitable than rolling the dice on something like Shiba Inu. Of course, if a person wanted to throw a few bucks on Shiba Inu for fun, then that’s fine. So long as it’s understood Shiba Inu could very well be worth next to nothing in a few years.
James Brumley (Bitcoin): It’s become little too obvious — and even a bit cliche — for some investors’ tastes. But Bitcoin is set to remain a centerpiece of the crypto world by virtue of becoming the movement’s first poster child. Its future isn’t likely to look like its red-hot past, however. Rather than remaining in perpetual rally mode, I see Bitcoin’s price leveling off at a relatively stable, more predictable price.
That’s always been the intent, of course. The initial concept of cryptocurrency wasn’t to make it a means of price speculation, but a digital currency that serves as an alternative to fiat currencies. For any crypto to legitimately work as “money,” though, it has to be price-stable enough for lenders, merchants, and spenders to get comfortable using it to transact business; buying and selling using U.S. dollar-based amounts of Bitcoin defeats the purpose.
For investors, this just means Bitcoin is apt to become more of a parking spot akin to cash or a money market, and less of an investment itself.
The Bitcoin community isn’t quite there yet. Bitcoin has the lead in this regard, however, by virtue of being the first digital currency to become a mainstream concept and the one every crypto fan can agree to utilize.
Keith Noonan (Ethereum): While some cryptocurrencies are just that — currencies — the value and growth case for Ethereum is different. The Ethereum blockchain provides a platform for smart contracts — exchanges of verified information that are backed up by network processing. Applications pay the cost of using Ethereum blockchain’s capabilities with ether — the cryptocurrency token underpinning the network. 
The Ethereum blockchain is essentially a framework for other blockchain applications to be built on. For now, that’s mostly taken the form of cryptocurrencies and related decentralized finance apps. Thousands of cryptocurrencies and decentralized finance applications are already built on the Ethereum blockchain, and increasing adoption on the network is helping to spur demand for ether. This positive pricing catalyst is occurring in conjunction with broader bullish momentum for the overall cryptocurrency space. 
Investors have already seen Ethereum benefit from a tremendous network effect. The question is whether or not this powerful tailwind will continue over the long term and work to drive its cryptocurrency token’s valuation significantly higher. 
Ethereum has provided the network that serves as the foundation for a huge section of the overall cryptocurrency and blockchain ecosystem. With crypto tokens and smart-contract applications rapidly gaining adoption, the ether token valuation could still have huge room to run over the long term. However, investors also have to weigh the possibility that ether’s valuation stands to see big swings in conjunction with volatility for the overall crypto space. Ether could deliver more huge gains, but investors should keep their risk tolerance in mind when allocating portfolio space for the token.

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Crypto market volatile; Terra Classic Lunc leads the laggards, Bitcoin above $19k | Mint – Mint

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  • The American currency scaled past the 111 level against a basket of currencies — making cryptocurrencies against the greenback vulnerable as well. Currently, there is a steep plunge in trading volumes of cryptocurrencies.

Cryptocurrencies are trading volatile tracking feeble global equities after recession fears in major economies like the US and Europe sparked. The US Fed’s aggressive approach to tame inflation at the cost of economic growth further dampened the mood. Fed has hiked the rate by another 75 basis points. Wall Street and European stocks slipped sharply last week, while energy prices settled lower and bond yields climbed to multiyear highs. The American currency scaled past the 111 level against a basket of currencies — making cryptocurrencies against the greenback vulnerable as well. Currently, there is a steep plunge in trading volumes of cryptocurrencies.
On CoinMarketCap, at the time of writing, the global crypto market is at $939.57 billion up by 0.28% over the last day. However, total crypto market volume dropped nearly 37% over the last 24 hours and is at $49.82 billion.
Meanwhile, the total volume in DeFi is currently at $3.11 billion — 6.25% of the total crypto market 24-hour volume. The volume of all stablecoins is now $45.65 billion which is 91.63% of the total crypto market 24-hour volume.
Ethereum is the top trending cryptocurrency today followed by PancakeSwap and XRP.
The crypto leader Bitcoin is trading at a little over 19,000 mark at $19,090 up by 0.5%. Its market cap is nearly $366 billion. The digital coin’s dominance is currently up by 0.12% over the day at 38.95%.
Meanwhile, the second largest cryptocurrency Ethereum is performing near $1,331 and is up by 0.75%. Its market cap is around $163.3 billion.
Recently, Ethereum launched the most-awaited Merge which led to a transition of proof-of-stake consensus, officially deprecating proof-of-work and reducing energy consumption by ~99.95%.
Data from Coinglass showed that Ethereum has liquidated more than $759 million since September 15.
However, both Bitcoin and Ethereum have dipped by nearly 5% and 9% respectively in the last seven trading sessions.
Among top-performing cryptocurrencies in the last 24 hours are — Reserve Rights climbing by 9.5% followed by Chainlink up 5.5%. Algorand, Chiliz, and eCash surged by 4-5.5%.
On the other hand, Terra Classic Lunc took lead in the laggards list by plunging more than 7%, followed by XDC Network shedding nearly 5%, Stellar and DogeCoin tumbling more than 3% each. Axie Infinity, Helium, Nexo, Celsius, and Synthetix dived between 2-3%.
Terra tokens are under pressure as currently, Terraform Labs CEO Do Kwon is facing multiple jurisdictions. An arrest warrant has been issued by the Seoul Southern District Prosecutors Office against Kwon who is the forefather of TerraUSD algorithmic stablecoin and sister token Luna that wiped out reportedly $60 billion in the cryptocurrency market. Kwon’s whereabouts are unknown, although, the co-founder of Terra tokens denied rumours of being on the ‘run’ from government agencies.
Last week, US Fed in its latest policy statement said, “the Committee is highly attentive to inflation risks.”
FOMC further said, in support of these goals, the Committee decided to raise the target range for the federal funds rate to 3 to 3-1/4 percent and anticipates that ongoing increases in the target range will be appropriate. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt, and agency mortgage-backed securities, as described in the Plans for Reducing the Size of the Federal Reserve’s Balance Sheet that was issued in May.
FOMC is committed to returning inflation to its 2% objective.
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Bitcoin news – live: Price crash continues as crypto ‘stable’ coin UST uncouples from dollar – Yahoo News

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Canadian Crypto Exchange Sues Users for Return of Bitcoin Misappropriated During Software Glitch – Exchanges Bitcoin News – Bitcoin News

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by Kevin Helms
Canadian crypto exchange Coinberry, part of Kevin O’Leary’s Wonderfi, has sued 50 customers for the return of the bitcoin they obtained without paying during a software glitch. “Coinberry contacted all of the said 546 affected registered users by email and demanded the return of the misappropriated bitcoins,” the lawsuit details.
Canadian cryptocurrency exchange Coinberry has reportedly sued its customers who took advantage of its software glitch and obtained bitcoin without paying.
Coinberry, a regulated crypto trading platform, is owned by Vancouver-based Wonderfi Technologies Inc., a company backed by Shark Tank star Kevin O’Leary.
The lawsuit, filed in Ontario in June, explains that during a software upgrade in 2020, Coinberry accidentally let users buy BTC with Canadian dollars that had not properly transferred to their accounts.
The exchange detailed that during the software glitch, customers could initiate an Interac e-transfer, get the amount credited to their Coinberry accounts, buy BTC, transfer the coins out, and cancel the original e-transfer. By doing so, they retained their funds while getting bitcoin for free.
According to Coinberry, 546 users were able to acquire a total of about 120 bitcoins altogether without paying for them before the software issue was fixed. The lawsuit states:
Coinberry contacted all of the said 546 affected registered users by email and demanded return of the misappropriated bitcoins.
“Coinberry was able to secure the return of approximately 37 of the misappropriated bitcoins from 270 of the affected registered users,” the lawsuit continues.
Some customers transferred their ill-gotten bitcoin to Binance, the Canadian exchange further noted, adding: “Coinberry also immediately contacted Binance.” The lawsuit detailed:
Binance acknowledged that it had identified a quantity of the misappropriated BTC and undertook to restrict any access to the accounts.
The Canadian crypto trading platform said it has yet to recoup two-thirds of the lost BTC from hundreds of customers.
The lawsuit seeks the return of 63 bitcoins from 50 customers, including 9.48 BTC that were transferred to Binance. Coinberry said its list of misappropriated bitcoins provided in the lawsuit does not include people who have taken and not yet returned amounts under $5,000, as valued in May 2020.
The company further noted that the largest amount misappropriated and not returned was $385,722.31 by two accounts under the names Jordan Steifuk and Connor Heffernan, which the Canadian crypto exchange said are actually the same person.
Do you think customers should give Coinberry back the BTC they took for free during the software glitch? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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