The news of SVP bank collapsing shocked the entire United State’s business world. It’s the 2nd biggest bank collapse in the country’s history. It caused Circle’s native stablecoin $USDC to de-peg from the dollar and suffer immensely. It’s believed the professed stable coin had US$3-billion-dollars locked by SVP in their bankruptcy process. As an after effects, the crypto market has seen turmoil. It appears Binance’s quick efforts to halt all dealing with $USDC has benefited bep20 token traders however. New BSC-based cryptocurrency $GOLDEN rose 6% today as tokens like $SHIB & $XLM struggle to remain in the green.
Why Did Golden Inu Rise 12x More Than Shiba Inu & Stellar Lumens?
The reason newcomer token $GOLDEN is on a ‘rocket ride’ to the moon is this — CZ of Binance and his security team, along with the ‘Golden Quest’ job platform.
It appears Binance Ecxhange’s hiring of top cyber security officials like Greg Monahan, BJ Kang, Tigran Gambaryan, and Matthew Price has paid off in multiples. As soon as there’s an odd signal in a cryptocurrency, the Binance intelligence cinches that funds on the network are secure.
The latest problem with USDC will not affect Binance Exchange users much, if at all. The centralized cryptocurrency exchange immediately disabled the ability of users to buy the $USDC token and made sure user funds are secure. Crypto holders on the network have continued trading as normal.
More Users Joining Golden Quest Job Platform
For Golden Inu [$GOLDEN] this means continued growth. The new ‘Golden Quest’ job platform, which is phase 1 of the bep20’s web3 ecosystem, is used daily by “Horde” members. In fact, activities on twitter and reddit from coin holders appear to indicate more people are joining the platform to earn Golden Inu crypto rewards.
This activity has nearly doubled the market cap of new bep20 token In 7 days. CoinMooner [here] reports it to be over $200,000 today, less than 3 weeks since its public listing on PancakeSwap.
The growth in use of the platform is spreading the “$GOLDEN” crypto subculture. People are learning to buy, sell, and accept the BSC [Binance Smart Chain] based digital currency. And with each buy or sell of the token, 6% tax is put back into the Golden Inu ecosystem’s growth and the $GOLDEN token’s liquidity pool. Half of that 6% tax goes to each of those community resources, that benefits the entire ‘Golden Horde’ of HODLers.
Golden Inu token has a team of web3 developers who have proven to adhere to their moniker, “No stoic quotes, just real technology.” A shot at Shiba Inu’s failure to provide Shibarium, a layer-2 transaction network, the public appears to notice the difference. Having an actual functioning job platform and phase 1 of their ecosystem has driven the $GOLDEN token’s growth the last two weeks. The bep20 token’s value has increased nearly 300% thus far and in the last 24 hours, it’s grown 12x as much as Shiba Inu’s $SHIB token and Stellar Network’s $XLM.
$SHIB Still Sinking After Shibarium Beta Version Fails To Impress
The $SHIB token went up in value by less than half a percent [0.34%] over the last 24 hours. It’s teetering on the brink of rolling into the red even though the Shiba Inu developers announced the release of what they’ve called “Shibarium Beta.”
The beta release is supposed to be a first look at the coming ecosystem that will rely on Shibaswap Bone tokens [$BONE]. Each transaction done on the Shiba Inu ecosystem will burn $SHIB tokens, lowering the quantity in circulation daily; possibly by millions.
Theoretically, this ‘SHIB burn’ should raise the erc20 token’s value. However, after billions were burned this week, the meme cryptocurrency has only declined in value.
This decline may be due to the $USDC collapse & the widespread bear market. However, Golden Inu [$GOLDEN] has dodged the effects of both. The new BSC token’s up nearly 300% since it went public on Pancake Swap [view here] weeks ago, proving that investors do appreciate actual technology.
Perhaps the lack of interest in $SHIB is due to theShibarium website appearing to be nothing more than a ‘wallet connection.’ There’s no actual utility presented even though in the top 10 crypto brands, market capitalization wise, has been hyping their Layer-2 technology’s release for nearly a year, if not more.
However, this theory isn’t applicable to all coins that are falling. Perhaps it’s more about the network.
Stellar Lumens Near 1% Gain In 24 Hours
$XLM token has also been struggling to gain positive ground and it has massive technology associations. And those it’s grown in value more than Shiba Inu, it’s still under one-twelfth the rate of growth in value as $GOLDEN.
In the last 24 hours Stellar Lumens native coin has increased nearly 1%, against the wave crypto-FUD coming from the SVP and $USDC collapses. There’s been no exposure to the two failures at the open-source blockchain network either; the same as BEP20 tokens.
And though it’s experiencing all positive news this week, the price of the $XLM token should be higher in comparison to other cryptos with utility. It has all the fundamental values of a cryptocurrency that’s built to last. It has utility with cross-border [international] payments, including a deal with Western Union to handle their fiat money transfers. And recently, Stellar Lumens partnered with Cheesecake Labs to release ‘Stellar Asset Sandbox’ — a new tool that makes minting assets on the blockchain network easier.
Is the Ukraine War Affecting $XLM Growth?
Perhaps it’s the stigma that Ukraine’s government basing their Central Bank Digital Currency on Stellar networks is impacting the view of the $XLM token. People may fear that the country’s economic recession could create a downward spiral of the token, but it can’t.
Regardless of each theory, the fact of today is $XLM is growing in value at a rate similar to Shiba Inu . Today it’s only valued at US$0.078 according to Coinbase; over 1-cent less than its price in February of this year .
But based on real world use and application, $XLM should be growing at the same levels as the Golden Inu token. Nonetheless it’s not, but it is positive.
What the price charts do indicate however, if $GOLDEN continues to grow at this rate and the ecosystem’s development does not slow down, the token could explode soon.
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