The collapse of cryptocurrencies to a minimum... What is their fate?

• Future digital currencies are collapsing. After the emotional shock of losing 200 trillion dollars

A sharp downward wave hit the demand for the digital currency, which lost billions in value in a day and a half due to the collapse of Bitcoin.

The cryptocurrency fell amid an increase in sentiment after US consumer confidence data hit an all-time low as investors preferred to maneuver towards the US dollar to avoid accelerating sentiment.

The pace of cryptocurrency declines has increased with the possibility of a sharp increase in interest rates at next week's Federal Reserve meeting.

Heavy losses

During these trading hours on Sunday, the value of cryptocurrency demand fell to its lowest level since February 2021, which is around 16 months.

Demand for the cryptocurrency has fallen from 1.3 trillion koi before the massive drop to more than 200 billion koi to less than 1.1 trillion koi, according to US bond data.

Wall Street took a storm last Friday after disastrous sentiment data prompted traders to abandon riskier instruments and move to safe havens such as gold and bullion.

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The Dow Jones Industrial Average lost 2.7 or 880 points, the Nasdaq 100 tech lost 415 or 3.5, and the Quality & Poor's 500 lost 2.9 or 117 points.

• nice info

Official data showed that the US consumer price index rose steadily to 8.6 in May, the highest level since 1981, up from 8.3 in April of the previous year.

US consumer confidence is at an all-time low, and the impact of the US remains weak.

Thus, the University of Michigan consumer confidence index in the United States fell to 50.2 points in the first measurement in June, compared to expectations that showed a record high of 58.1 points in May last year.

The data affected investor expectations as opinion polls began raising the probability of a US interest rate hike in July by 75 basis points instead of 50 basis points.

• Binance's decision

Cryptocurrency exchange Binance announced some time ago that it had decided to stop depositing and withdrawing funds from the account due to the sharp drop in demand for cryptocurrencies.

Binance CEO Changpeng CZ tweeted: “BTC USD withdrawal will be resolved in about 30 minutes due to delays on Binance.” “Moral support for all critics is moral support. Inventory phone number for services,” Reddit wrote when he entered the popular cryptocurrency among several sub-forums, blaming the US Federal Reserve.

As Natalie Jansson, a cryptocurrency economist at Neuma Graduate School of Economics, says, “It is easy to experience a real catastrophe in this industry. It is not the first time that the prices of these currencies have fallen before a significant increase in tax requirements. As the tax expert recalls, This last time happened around the same time: “When China decided to limit the use of this currency, Bitcoin lost half its value.”

He points out that these large price swings have always been caused by "reasonable reasons" for his position, whether it was a political decision from Beijing or stock market manipulation by bookmakers. "First stop". currency in 2017.

Therefore, the sharp drop in prices that we are currently witnessing is no exception to the current rule. But the fault lies with the US Federal Reserve. Indeed, cryptocurrencies are reacting like stocks of other technology companies, which so far has been a disastrous start to the US Federal Reserve's decision to raise interest rates.

“When interest rates are renegotiated, higher returns are available from risky investments such as bonds, which can force investors to abandon safe investments such as cryptocurrencies,” explains Natalie.

• Tera, the stable cryptocurrency that rocks everyone

Moreover, this end has another end. An important component of the entire hatchery system began to stop working. “Terra’s crypto turmoil has accelerated the overall price decline,” says Natalie Jansson.

* -Which consists?

Tera is referred to as a “stablecoin”, which indicates that it is a cryptocurrency that fluctuates quite a bit, unlike the group of coins with fixed prices and large maturities. It is also one of the most important currencies after Tether, with a market capitalization of $80 billion. Since these stablecoins are bones, they are usually pegged to a similar “real” coin

.

But for Terra it is a little different, it is not tied to another currency, it consists of a complex algorithm that ensures that its value does not exceed the bone value of each terra.

Excluding experience, this stablecoin depreciated to around 20 cents at the start of the week. As noted by Natalie, it is a little-known phenomenon related to this unusual invention: “Earth deposits on most platforms related to this cryptocurrency dropped from 14 billion bones to 9 billion bones on May 6, without knowing why or who. It happened. All... this the wealthy."

• The first extremism in the era of democratization of cryptocurrencies

Imbalances affecting these stablecoins can have devastating effects on the entire incubation system. In fact, the exchange from cryptocurrency to real currency, such as bones or the euro, takes place first and in most cases through another hard currency. This is part of the deal that provides stability to all sellers of these coins.

But Tether or other currencies if investors stop trusting Tera. Ironically, this is one of the industry's systemic problems in the February 2022 report from the Global Financial Stability Board.

Digital currencies continue to collapse after a short-lived recovery!

A critical 1,500,000,000 valued currencies fell without help. despite the giants' movement

The currency that swept the crypto world overnight fell on hype that it was the killer of Elon Musk's Doge coin, and recently failed after zero dilution to its value, despite catalysts and Goliath's moves in the Shiba Inu.

The Shiba Inu currency did not escape the sharp bearish wave that swept through all major cryptocurrencies within an hour, while the dire data released by the US forced traders to seek shelter and thus move to high-risk instruments such as stocks and digital currencies.

According to Whale Stat, Shiba Inu Jumbo is the most active 24 hours a day, and statistics for the top 100 Shiba Inu owner points show a 44.44 increase in active addresses, followed by crypto jumbo interacting with Shiba Inu with billions of memories. .

The number of Shiba mergers among the giants is increasing, and Whale Stats shows that the beloved anniversary contract was one of the most popular smart contracts among the top Ethereum giants in 24 hours. The biggest ETH giants are now capitalizing on dollar chips, according to data from Walstat.

Additional disclaimer

The word analysis platform reports that the Shiba Inu celebration attracted more dealers in June, with the total number of Shiba symbol owners now standing at 1.177 million investors.

According to available information, the celebration of the Shiba Inu coincided with the recent drop in demand for the cryptocurrency following the release of dire information.

*-Goliath's efforts

The data analysis platform and statistics showed that the number of Shiba Inu Active Goliath addresses increased by 44 with the increase in the use of the favorite Shiba Inu meme.

positive news

bitcoin price

According to SHIBQueenie, a sanctioned SHIB Discord admin and member of the Growth group, relatively good NFTs have been generated so far.

Pushing the Welly NFT end, Shiba Inu Chief Inventor Chitoshi Kusama says that NFTs are created as organic tools that act as smart contracts for Welly specific locations.

similarly, rewarding dog members or Welly NFT owners daily and providing feedback on annual sacrifices or requests via the SHIB BONE (DOGGY) DAO.

The Decentralized Settlement Group, or Canine, operates as a private entity in Welly outlets operating through a group of voluntary Canine class dealers under the Welly NFT contract while the Canine structure is under development. .

Gold Compliance Fee

gold price

What does all this mean for the economy and therefore the demand for gold? Well, politicians usually don't admit their mistakes. The fact that the World Bank predicts stagflation is another indication of the worsening income situation.

You see, in the 1970s, to deal with high leverage, the Fed had to raise interest rates so dramatically that it caused a global recession. as shown in the map below, the nominal yield on 10x Treasuries just exceeded 3, which may have been quite high recently, but not in the conditions of the 1970s and 1980s. It was more advanced than during the Great Recession, so the Fed's stress cycle will now be more dangerous.

Bitcoin will beat gold. !

Hostilities play a limited role in securing bank-backed cryptocurrencies, but some have ambitions to position themselves as gold.

According to the Financial Times website, investors in Bitcoin and other cryptocurrencies are facing an unusual twist. But Janet Yellen's arrival at the US Treasury likely marks an era of waning hostility from regulators and central banks to "liberal" forms of digital plutocracy.

In her last press conference in 2017, where she was chairman and CEO of the Federal Reserve, Yellen suggested that bitcoin could be "largely an academic asset" rather than a "stable store of value." However, despite ??????????????????????????? , When these pessimistic views were confirmed by the asking price of Bitcoin, digital currencies did not go away. In 2017–2018, comedian John Oliver jokingly described Bitcoin as "everything a plutocrat doesn't understand mixed with everything you don't understand about computers". "

The technological aspects, especially the blockchain network of digital vouchers used to record transactions, are starting to improve, although they may not live up to the initial hype. The $20 billion "initial coin burn" contains the basics of a student bubble, but the money raised is used to launch systems that are astronomically similar to other Silicon Valley computing projects.

The hostility towards digital currencies as a means of payment and conversion will continue. it is often flawed due to the high cost of transactions, as the use of "Bitcoin" to make payments is not widely accepted, and its unborn part seems limited. In the past, Treasury Secretary Steven München has been working on new laws that could increase the transparency of bitcoin transactions and reduce the fringes of money laundering by plutocrats. But Yellen, and therefore the Fed, is likely to take a harder line, viewing payment systems as ideal public goods.

The Federal Reserve is working with outside parties to explore the development of central bank digital currencies. For fiscal institutions, digital currencies will almost certainly be issued within China's base budgets, but they will be distributed in real currencies, not cryptocurrencies. Private competitors to the original new currencies, which may be called "Bitcoin", will be subject to strict regulations or suffer greatly. Stable cross-currency cryptocurrencies like Facebook's Libra, pegged to a currency or other real medium, would be better accepted by central banks if they were directly convertible to currency. Therefore, it will not support "blockchain". Any tax office can develop its own clock technology.

It takes its place as an investment tool and a useful repository for cryptocurrencies. But can Bitcoin compete with gold as a safe haven for big investors? History, laws, and a number of requirements make liability questionable, but that doesn't mean cryptocurrencies are starting to gain momentum. It makes no sense from the perspective of financial programming and financial stability, which is why regulators are concerned that digital currencies are competing with gold as a store of value.

The world of cryptocurrencies is currently a frenzy of anticipation and short-termism, but investors' continued belief in dubious stories that these private currencies are "safer" than the dominant central bank currencies is likely the reason for their rise. More and more currencies in terms of price demand in the next few times.

Bitcoin continues to decline and lose more than 2 trillion dollars in digital currencies!

Urgent: Cryptocurrencies are on their way down to $2 trillion…stop to go.

The Bitcoin market has entered a deep dark phase even as long-term crypto investors struggle despite resistance to last week's downtrend.

In line with the Glassnode strategists, they designed an indicator called Realized Value, which measures the normal value of bitcoins traded by investors, which is only $1,000 but equals $23,000 at the time of writing.

“The market has entered a phase that corresponds to the deepest and darkest phase of the previous phase and, on average, Bitcoin is trading above the buy price for many crypto holders and even savvy crypto investors are reversing recent declines,” he wrote in a note. .

Bitcoin is currently hovering around its lowest level since December 2020, with many newcomers taking losses.

Meanwhile, UBS strategists are eyeing bitcoin miners, whose businesses are under pressure from rising energy costs and capital spending commitments, for possible signs of capitulation, which could weigh on prices.

The risk increased as markets came under pressure after key inflation data came in higher than expected last week, suggesting the Federal Reserve may need to raise interest rates further, which could have a significant negative impact on risk assets.

Bitcoin is down 30% this month, marking the eighth straight day of decline for the cryptocurrency, with the last three-day pace of change of 21%, the biggest decline in history.

"There are many reasons why Bitcoin's rapid decline won't stop once it starts," said Brian Nick, chief investment analyst at Novin.

With the cryptocurrency losing 20% ​​of its value in 48 hours, that means it could lose another 20% in the next few days.

Higher interest rates increase market losses

Bitcoin price .. dollars

That is why Ahmed Moati, economic analyst and CEO of VE Markets, said that with any decision to raise US interest rates, we will see the virtual currency decline, thanks to the presence of safe investment options. country. they have started raising interest rates and are expected to rise. Once in the United States.

In addition, rising inflation worldwide will cause central banks to tighten monetary policy and print less money, which suggests that if US interest rates continue to rise, we will see further declines in virtual currencies, especially since that makes sense. Most of the world's central banks expect interest rates to rise. The United States will try the same.

In addition, the return on investment activity for global projects, which shows an increase in the GDP of countries and a decrease in the unemployment rate and unemployment benefits compared to last year, with a decrease in confidence between Market Whales and "crypto" influencers such as such. Elon Musk .

Matti also acknowledged that one of the most important reasons for the increase in the value of the virtual currency market is due to the increase in money-printing countries to reduce the economic response in 2020, especially because of the difficult Corona epidemic, for what part? injected foreign money to invest in virtual currency and US stocks. And if something else happens and it stops printing money, or at least reduces the frequency of printing, it suggests that virtual currencies and US stocks will fall victim to it. 2022.

Countries around the world are also facing the worst inflation conditions in their history, as prices of goods and services continue to rise and one of the main reasons for rising inflation is the increased printing of money. The increase in interest rates in the previous point and the decline in printing currencies around the world suggest that we are facing a difficult year for virtual currencies, as they will lose two advantages that have been the direct reason for their growth in recent years. . . .

Cryptocurrencies Increase Their Losses

'Bitcoin' leads the losers' cryptocurrencies (Reuters)

The digital currency continued a wave of heavy bleeding, in the fall 'Bitcoin', which was the strongest and most widespread in the ' cryptocurrency ' market, reached a value of 21 thousand dollars, and therefore the cryptocurrency has lost more than two billion dollars. . . Less than six months ago, but the loss curve increased after two distinct signs, the first of which was the crash of stablecoin "Terra Luna" on May 9, while the opposite milestone came just days before US Inflation Data Shows an Imminent Economy. The US Federal Reserve's Interest Rate Slowdown and Expectations have raised concerns about a violent decision. This encourages investors to turn to riskier assets and protect safe-haven assets such as gold and the dollar.

In terms of trading, and compared to the best price recorded by the market last November, the collective market cap of cryptocurrencies was down 71%, losing about $2,272.3 billion, after the total market cap fell from $3.2 trillion to around 927.4 on Tuesday. tomorrow (Tuesday morning). 14 June) billion dollar jobs.

Higher interest rates increase market losses

For this reason, VE Markets economic analyst and CEO, Ahmed Moati , said that with any decision to raise US interest rates, we will see the virtual currency decline, thanks to the presence of safe investment options. countries that have started. to increase interest rates and interest rates are also expected to increase. Once in the United States.

In addition, rising inflation worldwide will cause central banks to tighten monetary policy and print less money, which suggests that if US interest rates continue to rise, we will see further declines in virtual currencies, especially since that makes sense. Most of the world's central banks expect interest rates to rise. The United States will try the same.

In addition, the return to investment activity for global projects, which is an increase in the GDP of countries and a decrease in unemployment rates and unemployment benefits compared to last year, with a decline in trust between Market Whales and "crypto" influencers like Elon Musk.

Matti also acknowledged that one of the most important reasons for the increase in the value of the virtual currency market is due to the increase in money-printing countries to reduce the economic response in 2020, especially because of the difficult Corona epidemic, for what part? injected foreign money to invest in virtual currency and US stocks. And if something else happens and it stops printing money, or at least reduces the frequency of printing, it suggests that virtual currencies and US stocks will fall victim to it. 2022.

Countries around the world are also facing the worst inflation conditions in their history, as prices of goods and services continue to rise and one of the main reasons for rising inflation is the increased printing of money. The increase in interest rates in the previous point and the decline in printing currencies around the world suggest that we are facing a difficult year for virtual currencies, as they will lose two advantages that have been the direct reason for their growth in recent years. . . .

• "Bitcoin" at a price of 21 thousand dollars

bitcoin gold price

Bitcoin has been at the forefront of cryptocurrency losses, and since hitting an all-time high last November, its value has dropped from $68,354 to around $46,361, down 67.8%. Around $21993 and their combined market value is also down. At 67.3 percent, after losing about $863.7 billion, it fell from $1,282.8 billion to about $419.1 billion, which is about 38 percent of the total market loss.

The coin "Ethereum", which ranks second on the list of the largest cryptocurrencies by market cap, posted a loss of 75.4 percent, losing about $3,568, after its price dropped from $4,732 to around $1,164 and its total market value would fall. 76.5 percent. . It lost about $459.3 billion after falling to about $140.6 billion from $599.9 billion, which is about 20.2 percent of the total market loss.

The "Tezer" coin took third place, after its price stabilized at one dollar and its market value stabilized at the level of 71.5 billion dollars and a market share of 7%.

The US dollar coin ranks fourth after its price stabilized at one dollar and its total market value stabilized at $54.1 billion, with a total market share of $5.83%. .

The BNP coin ranks 5th among the top cryptocurrencies in terms of market cap and as such the coin recorded a loss of 66%, losing around $430.0, after its price dropped from $650.9 to around $220.6 and its combined market value going down 67 ,3 percent. . The percentage loss was about $73.1 billion, from $108.6 billion to about $35.5 billion, which is about 3.2 percent of the total market loss.

Huge disadvantage of chasing major cryptocurrencies

The BUSD coin is ranked sixth, so the coin's value is stable at the one dollar level and its total market value is stable at $17.6 billion, reaching a market share of 1.89% of the total value. The coin is currently in circulation.

Ranked 7th among the 10 largest digital coins by market value, the “ Cardano ” coin posted a 19.3% loss when trading last week, versus a 0.2% gain in the last few hours. , sits at $0.477 in today's trade. . Their combined market cap was steady at $15.9 billion, reaching a market share of 1.71%.

As for the “ X Ripple ” coin, which ranks 8th out of the top 10 digital coins by market cap, it posted a 19.2 percent loss when trading last week, compared to a 5.2 loss in the last few hours. percent, to stabilize their value in today's deals, at $0.314, their combined market value also fell to the level of $15.18 billion, gaining a 1.63% market share of all the coins currently in existence. doing business

The “ Solana ” coin was ranked ninth, posting a 27.6% loss in last week's trade, down 0.7%, to settle at 28.73 in today's trade. Their combined market value fell to $9.6 billion, with a market share of 1.03%.

Dogecoin is ranked in 10th of the top 10 cryptocurrencies by market cap, posting an 8.2% loss in the last few hours, versus a 30.3% weekly loss, to be trading today at $0.552. The market price has also fallen. Together, with a size of 7.2 billion dollars, with a market share of 0.77%.

What is happening to Bitcoin ... collapse or an imminent end!

What is happening with Bitcoin, the most popular cryptocurrencies in the world?

The history of the world's most famous cryptocurrency is incredibly fascinating, and miners will soon be lining up to tell you that you've got it all wrong.

But we have to write about that because one time only 24 hours for a crypto master, by Bitcoin standards, actually.

Next, I will focus on Bitcoin, but if you have been following cryptocurrencies, you know that all the interest is boiling over, to say the least.

Bitcoin price

At the time of the blog, bitcoin was trading at $974 (one thousand pounds). The stock fell 25 percent in the first five days alone, hitting an 18-month low. It rose to around $1,000 in November. It seems like constant torture.

The recession is looming, confidence is rising, interest rates are rising, and the cost of living is high. Equity warrants are also unpredictable as demand for the US S&P 500 is declining (down 20 percent from recent highs).

As a result, big investors have less freedom to exploit the rich. And a lot of ordinary investors, not seventy hedge fund owners or fund owners, but people like you and me who don't have a lot of money to invest in anything, blindly.

For many people, investing in unpredictable and volatile commodities like cryptocurrencies seems too risky these days.

They are not regulated or protected by financial authorities, so you can invest your savings in them and if they lose value or you lose access to your crypto wallet, your assets will be gone.

Cryptocurrency Consultant in Britain to Start Your Own Currency

Assessing the design and benefits of the new type of digital currency will be a step forward for digital currency issuance in the UK.

Households and businesses will use the new money without exchanging it for cash and bank deposits.

No decision has yet been made on the use of that money in Britain.

Central banks around the world are developing or exploring digital currencies following the rise and spread of cryptocurrencies like Bitcoin.

China is clearly in this race and is experimenting with the digital yuan in major cities like Beijing, Shanghai and Shenzhen.

On Tuesday, the governor of the People's Bank of China announced a future roadmap that includes improving currency protection and interoperability with other payment instruments.

Britain plans to switch to digital currency

 

The British Digital Currency (CBCC) has yet to evolve as much as China's. The most important date for the introduction of this coin is the alternate half of the decade.

Before deciding whether to proceed with the discussion document , the State Bank will review the currencies of the Treasury and the Central Bank .

A statement issued by the Bank of England said: "The specifications follow a consultation outlining the proposed engineering concept for central bank digital currencies.

John Glenn, the finance minister, said people and businesses would use the central bank's digital currency to meet everyday payment needs and help Britain keep up with innovation and technology in the financial sector.

In July, the European Central Bank took the first step in introducing a digital definition of the euro, a 24-month purchase phase, followed by three commitments.

When Facebook announced plans to launch its own currency in 2019, the digital euro gained momentum. Facebook recently reassessed its Libra currency model due to its strong opposition to regulations and renamed it Dim.

While China got ahead of CBCC activities , the US Federal Reserve was more skeptical.

Some central banks have warned that the widespread use of digital currencies could deprive banks of cheap support from consumer deposits.

Nigeria was the first African country to launch a CBCC trial last month.

In September, El Salvador became the first country to use bitcoin as legal tender, alongside the US dollar.

This has caused many protests, saying that this will lead to the loss of peace and harmony in the country.

J Hina banned Bitcoin and her sisters.

Chinese and Bitcoin

The central bank of China has announced that all transactions in digital currencies will be illegal, which means that all digital currencies such as Bitcoin will be banned.

"Virtual currencies and financial and lucrative transactions are illegal," the People's Bank of China said in a statement, adding that they "oppressively destroy citizens' savings."

China is one of the largest demands for cryptocurrencies in the world; Following the new announcement, the price of Bitcoin dropped to about two thousand US dollars.

Some Chinese institutions have advised cryptocurrency buyers not to provide protection for transactions involving bitcoin or any other cryptocurrency.

It comes at a time when Chinese authorities are putting more pressure on the sector.

About 3 months ago, the Chinese government ordered banks to stop facilitating transfers using digital currency and halted mining operations. Mining new digital currencies requires the use of major computers and large amounts of electricity.

The move comes against the backdrop that China is well poised to crack down on the cryptocurrency sector in all its forms.

The government statement only states that anyone involved in "illegal tax evasion" is committing a crime and will be prosecuted.

China bans foreign websites that sell cryptocurrencies to citizens.

cryptocurrency mining

Cryptocurrency mining technology is based on connecting a large number of useful computers to work together to verify and evaluate numbers and symbols and turn them into a common system called Blockchain. On the other hand, digital funds are purposelessly transferred to the owners of this bias, in exchange for their computers, which is known as digital mining.

Known for cheap electricity and computers, China has always been the world's largest digital mining mecca.

Digital mining has become so popular in China that game store owners around the world are being punished by Chinese authorities for a shortage of high-powered video cards for mining.

And in the year 2019, China controlled 75% of the world power, in Bitcoin mining, this time the percentage dropped to 46%, due to the crusade launched by China in this sector.

What is cryptocurrency, what is its future and what is its impact on the site?

The coins you can't see with your eyes or touch with your hands are the numbers and symbols you see on your computer screen. Every coin has a mark or mark, but doesn't that mean seeing and touching it doesn't affect the site in any way?

(Translated) digital currencies, especially bitcoin, have gained great popularity in the farthest countries of the world after large investors led by Elon Musk , who introduced it in February and invested 1.5 billion dollars. This encouraged many to quickly buy earnings gaps.

But the storm recently hit cryptocurrencies, especially Bitcoin, after Elon Musk announced that Tesla buses would accept cryptocurrency as payment “due to climate regulations” and China imposed new restrictions on its use.

• However, the question may arise in our minds about the connection of the virtual digital currency that is invisible to the weather and how it can cause serious environmental damage.

1- Cryptocurrency mining

Bitcoin mining is the process of creating new currency by using computers to figure out algorithms and solve complex problems. Bitcoin miners, euphemistically called "miners," store and record data and transactions in a string of numbers, each called a "blockchain," which is similar to a common number in the world of blockchains.

The process of archiving and recording data on the blockchain requires very efficient and effective computers.

Since the money is decentralized, it is not controlled by the government. It is continuously facilitated by a global network of specially designed computers.

Typically, a single bitcoin mining process requires around 10 network sparks to crack a complex program and create a block. The process ends up using a lot of electricity, with many miners eager to earn bitcoins in return and avoid selling cargo.

China's relationship with carbon emissions

Initially, "miners" could mine cryptocurrencies on their computers, but as the value of digital currency increased, the need for a more efficient and effective process arose, which increased energy consumption.

And in China, 75 percent of bitcoins are mined, especially in pastoral areas, and 2/3 of the electricity used in China comes from coal, which means that most of the electricity used for this purpose comes from natural sources. dangerous everywhere. . The rising price of Bitcoin has accelerated the global warming process by increasing the amount of energy used, increasing environmental pollution and carbon emissions.

Currently, the largest Bitcoin mining facilities are in China, which relies heavily on coal for electricity generation. This is due to cheap electricity prices.

Chinese experts have published a study on the increase in carbon emissions and carbon emissions from using fossil fuels to generate electricity, and "The annual energy consumption of blockchain used in mining in China is expected to reach 296.59 TWh By 2024, 130.50 million metric tons of carbon dioxide, which is the constant migration of greenhouse gases in the Czech Republic and Qatar.

A report from the University of Cambridge estimates that Bitcoin mining consumes more than 120 TWh per year, which is equivalent to the electricity consumption of a Malaysian, Swedish or Argentine cycle.

Top 3 promising shitcoins in 2022

Little New Tamados (TMA)

Tamadogge is a new project currently on pre-sale. Based on the Dogecoin ecosystem, this coin is more than a token. In fact, while meme corners have historically played an absurd role in life around a community with no clear purpose, things have changed a lot since then.

So Tamadoge is more than a simple shitcoin, it's a future of play inspired by Tamagotchis (P2E), these very popular toys from the late 90s or early 2000s that needed a friend's care. Imaginative. to look Grow in the background of all metaverses with their own universe called Tamaverse.

So the goal of Tamadog will be to take care of the virtual animal, which will be NFT, to develop, to participate in the battle with other players and to try to get the first place in the ranking. . .

Also, since everything in Tamadoge will be NFTs , they can be bought and resold through Tamadoge Exchange. So this crap coin is more than a meme of coins with no purpose. On the contrary, it was built from the ground up according to a precise plan to be an accessible and complete P2E.

Dogecoin king (DOGE) coin memes

Dogecoin is the first memecoin to appear and therefore represents shitcoins very well. At first, his posts had no purpose other than to mock altcoins trying to compete with Bitcoin.

Apparently the community found the idea interesting and increasing the value of this Shitcoin became a bit of a challenge to compete with mature and serious systems.

Now things have changed. Dogecoin is an ecosystem that wants to grow and make itself useful by bringing many features from the crypto world. Moreover, thanks to billionaire Elon Musk , he often mentions the project, supports it and believes in its future.

Companies like Tesla , SpaceX or The Boring Company now accept DOGE as payment. It shows the desire to make this shitcoin democrat who wants to make himself more visible and useful

Is Shiba Inu (SHIB) the best Shitcoin?

Shiba Inu is definitely number 2 after Dogecoin when it comes to fighting coin memes. Like DOGE, it initially had no specific purpose other than to create a fun crypto with a cute and very popular dog face.

Everything is going well because the developers came up with a secondary SHIB called SHIBARIUM, to further manage the fire system and management, or a game that focuses on the Shiba Inu.

Moreover, this coin has the potential to be "one" or "the only" crypto that can unite MetaVas in the future. Indeed, Shiba Inu fits this role perfectly and could be the cryptocurrency used by the entire Metavas in the future.