One of the market’s most popular memecoins, Shiba Inu [SHIB] was trading at $0.00000817 at the time of writing. While the said value isn’t as high as it once was a few months ago, SHIB seems to be on an uptrend right now. On the back of Bitcoin’s rally to $34,000, the rest of the market followed suit. SHIB, like other altcoins, was no different.For its part, Shiba Inu is also exploring opportunities in the Metaverse. While the hype associated with it might have died down over the last few months, some communities remain optimistic about its latent potential. Shiba Inu’s community is one of them.Here, the term “Metaverse” refers to a virtual world or a collective virtual shared place created by computer technologies. Such a world is often populated by avatars or virtual creatures. It is a concept that has become more well-known in recent years as more immersive virtual environments have emerged.The concept behind a Metaverse is that it is an environment where people can interact with virtual props and people in a way identifiable with the actual world. Shiba Inu’s Metaverse will attempt to capture this experience.Shiba Inu enters the MetaverseOn 15 March, Shiba Inu announced the opening of the shib.io website, which is the portal for its Metaverse. The launch came after months of planning and selling Metaverse territories.Following the launch of the new site, the SHIB community welcomed another platform that may provide utility to the SHIB token. The Shiba Metaverse’s functionality could be added to the Shibarium testnet, which was recently released.We chose to ask our AI friend, ChatGPT, its opinion about the Metaverse in light of its increasing popularity and Shiba Inu’s introduction of its version. It produced some intriguing results.ChatGPT’s idea of an ideal metaverseWhat would the ideal Metaverse look like? This was the first query we posed to the AI. The main characteristics of the ideal Metaverse were outlined by ChatGPT, but it was also quick to acknowledge that several things may affect it.Regardless of its design or purpose, ChatGPT specified seven characteristics that an ideal Metaverse should contain, which were helpful. Accessibility, interoperability, immersiveness, creativity, and innovation are just a few characteristics ChatGPT listed as desirable in a Metaverse.One would potentially be inclined to concur that these are truly fundamental, based on the list the AI produced.So, is the Shiba Inu Metaverse an ideal Metaverse? ChatGPT quickly pointed out its limitations in learning enough about the Shiba metaverse when responding to this query. And yet, it was able to respond that it has a welcoming environment and scored high on creativity and innovation.Even so, it remains unclear about its accessibility and interoperability.Exploring the possible roles of AI in the MetaverseAI can make user experiences more realistic and compelling because the Metaverse is essentially a digital ecosystem replicating the actual world. Creating more perceptive and intelligent virtual assistants is one potential use of AI in the Metaverse.These assistants could make it simpler and more effective for users to move about the Metaverse. Additionally, it can aid them in discovering information and communicating with others.In addition, AI can also be utilized to develop more complex and convincing virtual characters, heightening the Metaverse’s immersion and realism. By integrating machine learning and natural language processing, these characters may engage with consumers more naturally and intuitively. A more seamless and engaging experience may be produced through this.Furthermore, automating numerous jobs and procedures, such as moderation, content generation, and customer assistance, are more potential applications of AI in the Metaverse.The effort of human moderators and authors might be lessened as a result, and the overall caliber and consistency of the content in the Metaverse might also be improved.Looking at the daily price charts of SHIBWithin the Shibaverse ecosystem, the SHIB token may be useful for several purposes, including payment, governance, staking, and community involvement.At press time, SHIB was exchanging hands at $0.00000817. Let us now look at what its on-chart indicators suggest.While the Bollinger Bands were starting to clamp down after a bout of positive volatility, the Chaikin Money Flow, at the time of writing, was dipping after climbing as high as 0.30. What this means is that while capital inflows have been very high lately, they are starting to fall.Similarly, last week, SHIB was valued at $0.00000779 on the daily chart. And, this is what ChatGPT had to say. When will SHIB hit $1?While we hurled this query at ChatGPT, it didn’t give a definitive timeline. This is not surprising as predicting any price fluctuation is highly speculative.On the surface, ChatGPT’s analysis of Shiba Inu revealed several intriguing findings. Therefore, one can speculate how thorough the evaluation may be if the AI were given the entirety of the Shibaverse’s source code.Furthermore, it is becoming increasingly obvious how AI and cryptocurrency are intertwined, yet it still needs to be determined what influence this might have.While ChatGPT expects SHIB to reach $0.0000088 within a week, its metrics aren’t so hopeful. At least not yet.Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this post/article includes personal opinions. Readers are encouraged to do thorough research before making any investment decisions. Decrypted Labs is not responsible for any financial losses.

Main TakeawaysCristiano Ronaldo — one of the greatest players of all time —  is teaming up with Binance to launch his third collection on October 11, 2023! The CR7 ForeverZone Collection comprises 50,000 digital boxes that each contain unique rewards, including signed merch and a ticket to train with Cristiano himself.New users who register via the official collection page or using the code MEETCR7, and complete account verification between October 11, 14:00 UTC, and October 24, 23:59 UTC, will receive a free CR7 ForeverZone Box. While supplies last! Follow our detailed guide, get verification right on your first try, and score a free CR7 ForeverZone Box!Note: This is a general announcement. Certain products and services may not be available in your region.Cristiano Ronaldo fans! If you’re reading this, you’re in the right place. This guide will help you take your first step into Web3 with an exclusive CR7 ForeverZone Box. But before we dive further, here’s a quick refresher on what each box might contain: A golden ticket to train with Cristiano Ronaldo;Autographed merchandise;Binance Blockchain Week tickets;And much more! View CR7’s latest collection breakdown for more information.To get your free CR7 ForeverZone Box, make sure to sign up via the official collection page or using code MEETCR7 if you haven’t already done so, and pass identity verification by October 24, 23:59 UTC. You can read more information about how to verify and pass identity verification below. Make sure to complete your verification as soon as possible because we’re only giving away 50,000 boxes on a first-come, first-served basis.How to Verify Your Binance AccountEvery Binance user is required to complete basic verification prior to using our services. This process is mandatory with your local country's regulations and stops people from creating multiple accounts to claim additional boxes. Let’s start with the first step: your personal information. 1. Enter your personal informationLog in to your Binance account and click [Profile] - [Identification], then click [Get Verified]. Select your country of residence and enter your personal information. Please ensure all information entered matches your ID documents. You won’t be able to go back after completing this step.2. Verify your government-issued IDFor this step, you can choose to verify your documents by taking a photo with your camera or verifying with the Binance app. Just make sure you’re in a well-lit room; otherwise, our system won’t be able to read your documents. Common forms of accepted documents include but are not limited to: passports, driver’s licenses, or national ID cards. If you’re located in the MENA region, you can refer to our full list of accepted documents. 3. Complete the liveness checkYou’re one step away from securing your CR7 ForeverZone Box. Enable camera access on your device and follow the instructions to complete your liveness check. Again, make sure you’re in an area with good lighting. Take off any accessories, including glasses, hats, and face masks. Claim Your CR7 ForeverZone Box!Once you’ve passed verification, we will send your free CR7 ForeverZone Box to the NFT wallet in your Binance account. Find it there and open it to discover what’s inside.Please note that, during the campaign period, ForeverZone Boxes will be airdropped at 12:00 UTC each and every weekday (Monday-Friday; starting from October 13, 2023) to anyone who successfully qualifies, and will be awarded on a first-come, first-served basis (while supplies last). We’re only giving away 50,000 CR7 ForeverZone Boxes so be sure to act fast! Note: In order to withdraw any NFTs on the Binance platform, you must first complete and pass identity verification.Further ReadingUnlock A Training Session with RonaldoRefer Friends and Score Free CR7 ForeverZone Boxes!The CR7 ForeverZone CollectionDisclaimer: The value of your NFT may go down or up. NFTs are subject to high market risk. Binance is not responsible for verifying the identity, legitimacy or authenticity of any NFT. NFTs are not regulated in most countries, however please ensure you are permitted to access our Binance NFT Marketplace based on your circumstances. For further details, see the Binance NFT Terms and Conditions, our Terms of Use and Risk Warning.

The post Ripple News: How Low Can XRP Price Drop This Month? appeared first on Coinpedia Fintech News

The XRP market is buzzing with predictions, and everyone has their share of versions to convince naive investors. Recently, XRP slipped beneath the $0.49 mark for the second time this month, hitting a one-month low amidst a generally bearish market and heightened selling pressure.

The air above XRP’s current state stems from its bearish trend since it surged 5.21% on Oct. 3, following the latest ruling in the Ripple case. That day, Judge Analisa Torres denied the SEC’s motion for an interlocutory appeal on aspects of the July 13 ruling they lost. 

Analyst Reviews XRP’s Bear Trapped Prices

Shedding some light into the scenario, Bill Morgan, a prominent pro-XRP lawyer, drew attention to this escalating bearish trend on Oct. 9. At that time, XRP was still holding above $0.50, but a gradual decline was evident.

Since the increase on Oct. 3, XRP has seen seven losses out of eight days, marking a decline of over 9.7%. XRP is trading at $0.4898, reflecting a 1.45% drop over the past 24 hours. The 24-hour trade volume has fallen by 29.28%, indicating reduced interest among traders.

XRP has now almost entirely lost the the gains from the recent Torres decision on the SEC’s motion for an interlocutory appeal as it previously almost entirely lost the gains from the summary judgment decision in July pic.twitter.com/Zloa3bcPMD

— bill morgan (@Belisarius2020) October 9, 2023

Understanding the XRP Decline

Since many are betting on XRP to reach a new ATH anytime soon, this bearish outlook catches everyone’s attention. So what’s pulling the 5th largest crypto asset? Firstly, a broader bearish sentiment has impacted the entire crypto market. Significant crypto assets like Bitcoin and Ethereum have suffered losses over the past week due to decreased buying pressure.

The global crypto market cap reached a two-month high on Oct. 2 and has since dropped by $70 billion, representing a 6.25% decline in just one week. These declines have had a spill-over effect, affecting assets like XRP.

Next up is the Israel-Palestine situation, which has also played a role in driving investors away from riskier assets like cryptocurrencies. Heightened tensions have led market participants to consider potential economic repercussions, prompting a move away from risk assets to hedge against potential crashes.

Finally, significant movements of funds by large holders to exchanges, including a transfer of 61 million XRP to Bitstamp, have raised concerns about further selloffs. Ripple moved 60 million XRP recently, contributing to the downward pressure on XRP’s price.

What’s Next in XRP Price? 

In the coming days, all eyes are on XRP as it teeters on a retest of the 0.45 mark, igniting excitement about a potential visit to the pivotal support at 0.41. The Ripple community braces for an exciting few weeks ahead, poised for whatever twists and turns may come its way!

On the first day of every month, Ripple unlocks 1 billion XRP tokens from an escrow system programmed within the XRP Ledger. This is set to happen again on October 1 (Sunday), in three transactions of 100 million, 400 million, and 500 million XRP.
Notably, October 2023’s unlock accrues for 1.87% of the current circulating supply of 53.31 billion XRP, and part of the remaining 46.69 billion XRP tokens owned by Ripple, that are still locked in escrows to be released monthly until February 2027.
There are three escrows set to be finalized on the last minutes of September 30, held by two known wallet addresses under Ripple’s control:
Address “Ripple (22)” — for an unlock of 500 million XRP, that was locked on July 01, 2019, with the transaction ID “D0C3E…7568F”.Address “Ripple (23)” — for an unlock of 100 million XRP, that was locked on July 01, 2019, with the transaction ID “532CD…1E4D2”.Address “Ripple (23)” — for an unlock of 400 million XRP, that was locked on August 01, 2019, with the transaction ID “574D0…25F89”.
These two addresses still hold 5 billion XRP tokens for monthly escrows that will be finalized in the next five months until February 29, 2024.
Why did Ripple create this escrow system?
When XRP was created in 2012, the XRP ledger capped the total supply at 100 billion XRP. Of this, 20 billion XRP was initially distributed to the creators and core team.
Ripple’s treasury controlled the remaining 80 billion XRP and promised to release these coins gradually, rather than all at once. In 2017, Ripple implemented a new system to make the release of XRP more predictable and controlled.
This system uses escrows — a type of smart contract that locks up XRP, making it impossible to use them unless certain conditions are met. Ripple’s condition was to release one billion XRP on the first day of each month for 55 months, for a total of 55 billion XRP.
However, even with a monthly release of one billion XRP, Ripple did not spend or sell all of it. Instead, Ripple is reportedly locking up the remaining tokens each month in new escrows for future releases. This extended the 55-month deadline for all XRP to be put into circulation.
This is what Ripple did to the 1 billion XRP released in September
1 billion XRP tokens worth $500 million were unlocked, as expected, on September 1. Ripple then immediately relocked 800 million (80%) of the total, to escrows set to be finalized by January and February of 2027.

From the left 200 million XRP, 100 million tokens were spent on September 11 amid a price crash following news related to FTX’s assets liquidations a day before.

75 million XRP were spent six days later on September 18 and another 50 million tokens were put into circulation on September 22 — from the left 25 million XRP of September’s escrows, plus another 25 million tokens from past releases.
$XRP

Key Takeaways:

The price of Bitcoin (BTC) could see a potential rally

The US Government is headed for an economic shutdown

The Republican-controlled House of Representatives is divided over the issue

The United States could see a Government shutdown next month. Image by Petre Barlea  Read CoinChapter.com on Google News

YEREVAN (CoinChapter.com) — The United States faces another government shutdown and debt ceiling impasse. Amid the growing uncertainty and panic, cryptocurrency enthusiasts and investors are closely watching Bitcoin’s price performance. 

Bitcoin (BTC), the leader of the cryptocurrency market, has historically reacted during times of economic uncertainty. Particularly during the US Government shutdown, BTC has reacted favorably, with its price jumping a few percentage points. But will this round of political brinkmanship lead to a Bitcoin price boom?

What is a Government shutdown and why does it happen?

A US government shutdown refers to the temporary closure of federal government agencies, departments, and services. This happens due to the failure of Congress to pass appropriations bills that fund government operations.

 A Government shutdown can occur when there is a budgetary impasse or disagreement between Congress and the President over government spending priorities. Government shutdowns are often the result of political disputes and can disrupt various government functions and services.

The United States is headed for a shutdown, with the Congress divided over funding the Biden Administration.

Currently, the US is just two days away from a Government Shutdown. In the United States, the fiscal year begins on Oct. 1st and ends on Sep. 30th of the following year. 

However, before each fiscal year begins, Congress must pass a series of appropriations bills to fund government agencies and programs. These bills are necessary for the Government to allocate funds for various government functions, such as defense, healthcare, education, and infrastructure.

To avoid government shutdowns, Congress can pass temporary funding measures known as “continuing resolutions” (CRs). Also called “omnibus bills”, they keep government operations running at current spending levels until a budget agreement is reached. 

Republicans hold Kevin McCarthy to Ransome 

Unfortunately, the Republican Party, which holds a majority in the US House of Representatives, is divided. Speaker Kevin McCarthy has once again found himself in a tight spot.

A group of his party lawmakers is refusing to back his budget proposals and CRs. They demand that McCarthy include their proposals before tabling these measures for a vote. 

Some of these demands are quite radical. Many are calling for tangible spending cuts in the new fiscal year. Some have even demanded the US stop funding Ukraine. 

The White House has demanded that the Republicans not fail to fund the Biden Administration for the next fiscal year.

Speaker McCarthy is between a rock and a hard place. He must pass a bill to avoid a shutdown, but he cannot ignore the dissidents either. He holds only a thin majority in the house. Because of this, he cannot lose more than 4 votes to pass a short-term spending bill. 

The holdouts, most of them members of the “Freedom Caucus”, are more than that. McCarthy knows he can’t take them lightly. In January this year, he had to endure through 15 rounds of voting before getting elected as Speaker. On his way to the goal, he made several concessions to this group, who wouldn’t otherwise budge. 

Meanwhile, Florida Republican Congressman Matt Gaetz has gone as far as to demand the Speaker’s resignation. If the Government shuts down, it could cost McCarthy his job. 

Bitcoin’s Performance During Past Shutdowns 

The Government Shutdown can have a potential impact on Bitcoin’s price. To see this, it is crucial to examine its past behavior under similar situations.

During previous government shutdowns, Bitcoin has displayed a mixed bag of reactions. 

For instance, during the 2013 shutdown between October 1-17, the price of BTC showed visible improvement. It gained over 80% in a massive rally. 

The price of Bitcoin (BTC) rallied during the US Government shutdown in 2013. Credit: TradingView

In the beginning days of October 2013, the BTC price was around $133. After tanking around 15%, BTC regained its footing, with its price spiking to 2014 on October 24, 2013. 

However, during the 2018-2019 government shutdown, Bitcoin’s price experienced relatively modest gains, suggesting that it wasn’t yet widely considered a safe-haven asset.

On Dec. 18, 2018, two days before the shutdown, BTC traded at $3,207. The shutdown propelled it on an over 30% rally. By Dec. 24, its price had reached $4,244. 

The rally also saw short-term investors cashing out on their profits, sending BTC prices into a period of volatility. 

The price of Bitcoin (BTC) saw volatility in its price when the United States passed through a similar crisis in Dec. 2018- Jan. 2019. Chart from TradingView

Meanwhile, it’s important to note that Bitcoin’s volatility can be cut both ways. While it can surge during times of crisis, it can also experience sharp declines. 

As the US grapples with these challenges, investors will monitor Bitcoin’s behavior in response to the evolving economic landscape. Whether it experiences a notable price boom remains uncertain. However, its role as a potential safe-haven asset during times of economic uncertainty continues to draw interest and speculation from investors worldwide.

The post Will Bitcoin (BTC) Price Boom Due to US Govt’s Shutdown? appeared first on CoinChapter.

Hi Binancians,

The latest updates to Binance Feed are available in app version 2.70. Make sure to update your app to the most recent version to access these essential enhancements. Here's a detailed breakdown of the new features and updates.

Part 1: Upgrades for Creators

Showcase achievement badges

Creators now have the ability to display their badges on both Discover and Profile pages. Badges can be acquired through participating in content campaigns, attaining specific achievements, or by receiving an invitation.

Post Re-editing

Creators can now conveniently re-edit their Feed posts/articles after publishing without the need to delist, making the editing process more optimized and user-friendly.

Pin Comment

Creators can pin a chosen comment under each post/article for top visibility in the comment section.

Tipping

Binance Feed is currently beta-testing the Tips feature with a select group of whitelisted creators. This allows supporters to send tokens by tapping the Tips icon under each Feed post/article, making it easy to back creators driving conversations or simply thank them for engaging content. Binance will expand this feature's availability to more creators in the near future – stay tuned!

Note: Tips are currently available only on web and Android.

Part 2: Improvements for Users

Trending Articles

To keep users informed about the hottest topics and news in the crypto world, Binance Feed has added a Trending Articles section. This feature collects and presents the most popular articles, ensuring that users are always aware of the latest developments and discussions shaping the industry. With Trending Articles, you can quickly and easily access the content that the community is truly buzzing about.

Improved News & Announcement relevancy under trading page

On the Feed tab within each token's trading page on Binance app or web, users will find official project updates, token-related news, and announcements. This information assists investors in staying up-to-date with essential token developments, helping them make informed decisions.  Always remember to do your own research (DYOR) before making any investment decisions.

Search Functionality on Creator Profile Page

Users can conveniently search for specific historical Feed content created by particular creators on their profile pages by inputting relevant keywords.

Automatic Token Identification in Content

The system will automatically identify tokens based on Feed content. Users can easily click the token tab and be directed to the corresponding trading page for further investment opportunities.

Stay Updated with All Things Binance Feed

Follow this official Binance Feed account to keep up with the latest news, features, and updates, and ensure you never miss important information.

Your opinion matters to us! If there's a product or feature you want to see implemented on Binance Feed, don't hesitate to let us know. Submit your ideas through our customer support, and together, we'll work towards making Binance Feed even better. Thank you for being a part of our community!