Why Bitcoin, Bitcoin Cash, and Shiba Inu Are All Skyrocketing Wednesday

Motley Fool2021-10-07

Growing institutional adoption and investor enthusiasm are pumping these cryptos to the next level. What happened Bitcoin (CRYPTO:BTC),Bitcoin Cash (CRYPTO:BCH), andShiba Inu (CRYPTO:SHIB)are up ...

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KHYAP
2021-10-07
KHYAP
👌🏻
MuppyKoh
2021-10-07
MuppyKoh
Please like
Ramesh78
2021-10-07
Ramesh78
Good
YummyFood
2021-10-07
YummyFood
[呆住] [呆住] [呆住]
- YummyFood:
  [呆住] [呆住] [呆住]
- gogostocks:
  moon

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The three are now trading at $54,656.16, $622.61, and $0.00002301 apiece, respectively. Yesterday, U.S. Bank, the fifth-largest retail bank in the country with $8.6 trillion assets under management, announced it would offer cryptocurrency custody service to investment advisors and fund managers. They will be able to store their private keys (unique passcodes) to Bitcoin, Bitcoin Cash, and Litecoin to their wallets safely with U.S. Bank.\nAs for SHIB, investors were euphoric afterTesla's CEO, Elon Musk, tweeted a picture of his shiba inu dog on top of his Tesla car three days ago. Musk had previously promoted meme cryptocurrencies, and even though the tweet wasn't directly related to SHIB, there's the expectation that Musk will tweet about SHIB in the future. That was enough to send the coin up 220.90% in the past seven days.\nSo what\nInstitutional investors are rapidly piling in on the success of Bitcoin, Bitcoin Cash, and other cryptos. For example, Silvergate Capital (NYSE:SI), a leading bank that facilitates fund transfers between cryptocurrency exchanges and financial entities (such as banks, venture capital firms, and hedge funds), processed a stunning $240 billion in transaction volume in Q2 alone. That's more than 10 times the volume of institutional crypto-fiat transfers it processed in Q2 of last year.\nBut the same can't be said for Shiba Inu. It's clear that investors are in it only to make a quick buck. Its fundamental value, as measured by total value locked (TVL) on its native Shibaswap decentralized exchange, amounts to just $291 million. Meanwhile, the token's market cap has surged to nearly $10 billion.\nNow what\nSince its inception, skeptics have said that Bitcoin and its peers are nothing more than fake internet money. But the result of all this fear and uncertainty is that cryptocurrencies aregaining tractionin every part of the world, especially among developing nations. 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So now's a good time for those lucky investors to consolidate the gains and take profits.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":823115074,"gmtCreate":1633598178334,"gmtModify":1633598288866,"author":{"id":"3562150941808297","authorId":"3562150941808297","name":"KHYAP","avatar":"https://static.tigerbbs.com/134bef1736613cccadcb5091adcc32aa","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"👌🏻","listText":"👌🏻","text":"👌🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823115074","repostId":1197899038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":823118236,"gmtCreate":1633597865289,"gmtModify":1633597865654,"author":{"id":"3585354270249282","authorId":"3585354270249282","name":"MuppyKoh","avatar":"https://static.tigerbbs.com/280b63f52e5976fb134c31bfb22ec07d","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Please like","listText":"Please like","text":"Please like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823118236","repostId":1197899038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":823111384,"gmtCreate":1633597747865,"gmtModify":1633597748007,"author":{"id":"4092954016720550","authorId":"4092954016720550","name":"Ramesh78","avatar":"https://static.tigerbbs.com/3c0c1ebc7b58a181d8b45be1ce9b944a","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/823111384","repostId":1197899038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":823119525,"gmtCreate":1633597543695,"gmtModify":1633597543900,"author":{"id":"3584069717655132","authorId":"3584069717655132","name":"YummyFood","avatar":"https://static.tigerbbs.com/71ef61cbbef1517374c49262685c1c5d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","listText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","text":"[呆住] [呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/823119525","repostId":1197899038,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6120511,"gmtCreate":1633597551422,"gmtModify":1634719614546,"authorId":3584069717655132,"author":{"id":3584069717655132,"authorId":3584069717655132,"name":"YummyFood","avatar":"https://static.tigerbbs.com/71ef61cbbef1517374c49262685c1c5d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":823119525,"type":1,"supId":0,"prevId":0,"content":"[呆住] [呆住] [呆住]","text":"[呆住] [呆住] [呆住]","html":"[呆住] [呆住] [呆住]"},{"id":6120518,"gmtCreate":1633597649177,"gmtModify":1634719614111,"authorId":3558686711969806,"author":{"id":3558686711969806,"authorId":3558686711969806,"name":"gogostocks","avatar":"https://static.tigerbbs.com/6ea2d4794051c9e96f9bf4d6ffd06f9b","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":823119525,"type":1,"supId":0,"prevId":0,"content":"moon","text":"moon","html":"moon"}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":14,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.25.1","shortVersion":"4.25.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1197899038"}