🐕 SHIB Surge

Which SHIB metric surged in Q2. Plus, Coinbase acquires a former OpenAI exec.

Author

Sebastian Soran
July 26, 2024

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TGIF, Zingernation! Crypto has dipped a bit the last few days, but the catalysts for this dip could be over, according to a prominent economist.

Today, we look at why Shiba Inu orders surged in Q2, a major personnel reshuffle at Coinbase and more.

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MARKET SNAPSHOT

TOP STORY

Briefly: Second-quarter order volumes for Shiba Inu surged on the cryptocurrency payments platform CoinGate.

So Basically: The payment service provider revealed a 76% jump in SHIB orders compared to the first quarter.

So Then: CoinGate attributed the surge to the expansion of the services on the Polygon and BNB Chain networks, thereby boosting the overall user base.

So What: It appears likely that these investors were accumulating, as SHIB's price popped 3.4% in the last 24 hours to $0.0000168, according to data from Benzinga Pro.

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FIVE ZINGERS

What’s Next: Crypto has dipped over the last few days, but a prominent trader and economist analyzed why most of the catalysts for bearish action are done.

Poised: Floki got listed on Bitstamp and is '“poised to follow Dogecoin’s movement,” according to a bullish trader.

Accumulating: Pro-cryptocurrency attorney John Deaton, who is running for Senate against Elizabeth Warren, holds 80% of his net worth in Bitcoin.

Red Wave: The Trump-themed Maga Memecoin is rallying ahead of Trump’s keynote speech at the Bitcoin conference in Nashville on Saturday.

Historic: An Ethereum banner was flown outside the New York Stock Exchange building, symbolizing the rising importance of ETH in finance.

FINTECH FOCUS

Briefly: Chris Lehane, a leading Democratic strategist and former member of the Bill Clinton White House, is set to join the board of directors at leading cryptocurrency exchange Coinbase.

What Happened: Lahane was a a former policy chief for Airbnb Inc. and went on to join ChatGPT-maker OpenAI as a senior executive.

What Else: His association with the cryptocurrency space is not new as he was also part of Coinbase's Global Advisory Council, floated to help the company “navigate the complex and evolving landscape of the industry.”

Why It Matters: Experts believe the Democratic Party has a significant opportunity to win back a large portion of the cryptocurrency vote in the upcoming elections.

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