October 31st 2008 was by far the spookiest Halloween for conventional financial systems and institutions. It marks the release of one of the most powerful financial documents which unleashed a movement that challenged these institutions, the Bitcoin's white paper.
Last week was full of canine-themed cryptocurrencies! The dog-inspired coin Shiba Inu's price continued to soar pushing its market cap beyond that of its main rival dogecoin.
Before we dig deep into our Crypto News Recap, let's check out the charts!
Bitcoin Chart
Bitcoin's price is trading $61,996 at the time of writing. Bitcoin’s dominance is at 44.25%, an increase of 0.14% over the past day.
Source: coinmarketcap.com/tradingview
Crypto Charts
Cryptocurrencies are mostly trading in the green after a long week of mixed trading. The global crypto market cap is at $2.65 trillion, increasing 0.86% from yesterday.
While the overall market volume over the last 24 hours is $134.46 billion, down 12.13%.
Source: coinmarketcap.com/tradingview
The main action in the charts was from both SHIB and DOGE which kept flipping each other on the top 10 charts!
Describing itself as 'Dogecoin Killer', SHIB has received great support on social media helping the coin's massive upside move to make respectable gains. Keeping in mind the fact this coin falls into the definition of a memecoin, it actually has done some good deeds by helping reverse the devastating spread of Covid-19 in India, as Vitalik Buterin has utilized SHIB in the largest crypto donation in history.
Source: coinmarketcap.com/tradingview
Bitcoin's White Paper Anniversary
13 years ago, on October 31, 2008, Bitcoin's white paper was released to the world to disrupt the financial world by a person or a group of people under the name Satoshi Nakamoto who announced it to the world in an email at that time saying:
"I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The main properties: Double-spending is prevented with a peer-to-peer network. No mint or other trusted parties. Participants can be anonymous. New coins are made from Hashcash style proof-of-work. The proof-of-work for new coin generation also powers the network to prevent double-spending,"
Later on, the first truly digital coin was officially launched on January 3, 2009, which marks mining the first block of transactions — known among crypto fans as the genesis block.
Zuckerberg's Metaverse to Venture into NFTs!
While announcing his ambitious plans to create a 3D virtual world known as the Metaverse, CEO Mark Zuckerberg teased crypto fans with a hint of the inclusion of non-fungible tokens or NFTs in his new virtual world.
Screenshot from Facebook's Reality Labs presentation
NFTs are special kind of token that contains identifying information recorded in smart contracts on the Ethereum blockchain but can’t be exchanged like other cryptocurrencies which are fungible. NFTs can be a part of Facebook's or Meta's new Novi crypto wallet.
