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Things You Need to Know Before You Start Blogging About Casinos

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PVP Team
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Everybody wants to know about the new sites to look forward to when it comes to online casinos. It is important for casino bloggers to provide gamblers with this information. The main point of this job is to point players towards the best casinos to bet on. This includes learning how to create an account at any casino, like the Trueblue casino login page. It can also include writing about the latest bonuses for players to take part in.

If you wish to get into this profession, let this article guide you on the most important things you need to know:

Learn to Create Your Blog

The first thing you need to know is how to create your blog to start with. Making a blog can be a very simple procedure, but learning the most intricate parts can take time. The thing you will have the most trouble with is figuring out what to name it. It can be something catchy and fun that can grab the reader’s attention from the moment they see it. It can be a gambling pun or a play on words that are related to casinos in general. However, if you choose something simple, you will lose that vital first impression that secures you as a viewer.

Not only do you need to create a name but also design what it looks like. The layout of your articles will be seen, from the font to the size of your words. You don’t want something too big; otherwise, you may not have enough space for info. If the font is too distracting, the readers will find it hard to focus on what you’re writing about. A good size 11 and an Ariel font can make the words as clear as possible and provide the space necessary for all the important parts.

What is Your Content?

The world of online gambling comes in many shapes and genres. There could be thousands of things to write about, and you may not have time to write them all. Instead, pick a specific part of the gambling industry you want to focus on, and that will bring in your main target audience. For example, if you want to focus on casino games, you can talk about the many different slot machines and which ones are the hottest trends. If you want to write about sports betting, you can give people examples of top betting sites and their available platforms.

Once you have focused on a specific genre, you can dabble in other content that expands your horizons. If what you are writing about gets a little stale, you may end up losing readers. Try to keep your content varied but still focused on your main selling point. If you can, try and tie your articles together by linking them. Write about one thing that can lead to another article with more information on that off-topic. You can include a link to that article within the article itself.

Always Research

It is vital that you must research every topic you are willing to talk about. This includes almost all of the facts and figures that relate to the product you are reviewing. For casinos, you will need to look at numerous parts of the site. This includes the game selection, the gambling license, the payment methods, bonuses, and any other important facts. For specific slot games, you will need to look at their gameplay features for specific slot games and what kind of theme it is presenting. Even other aspects like RTP and velocity will be important to mention.

The information you include needs to be 100% factual; otherwise, you could face repercussions for your actions. Misinforming your audience can cause them to be surprised by the actual casino or game, and not in a good way. They may be disappointed they were not given what they were promised. This could lead to the casino itself taking legal action against you or cause you to lose viewers for your blog. Even if you believe you have everything right, it doesn’t hurt to double-check your info by looking at another source.

Keep Up to Date

If you want to keep track of your blog and its progress, make sure that you keep it relevant to what is happening. Try to stick to your main research points but make sure the info is up-to-date. Changes are always happening in the online gambling world from all corners of the planet. Each country has its own history with gambling and terms that online casinos must follow. In addition, the terms themselves are in a constant state of flux, meaning that major changes could happen at any moment. If you don’t look up the recent news, you may misinform your viewers.

The way you can keep up is by simply looking online, as all the information is reported there. Unless it is a massive change that affects thousands of people, you will rarely see it appear on the TV news. There are plenty of official sources, other than blogs, that can explain the recent gambling news to you. Many of the sites are dedicated to it. You can also follow these sites on social media, so you can check your regular news feed for any updates you need to know about.

How to Make Money

If you want to know how to truly make it with your blog, here are the necessary steps needed to make sure money comes flowing in:

  • Establish traction – Keep track of how many viewers you have on average.
  • Make use of affiliate marketing – Make connections with various online casinos to let them know of your work.
  • Add advertisements and promotions – Use commercials or free demos to help advertise the games and casinos for them.
  • Banner advertising for extra profit – Create a subscription service where you can let viewers pay a monthly fee to read articles without being interrupted by advertisements.

These steps can help make you the most money from running a blog. Sometimes casinos will pay you outright for simply writing about them, as it is more advertising for them, leading to more players. If you are ever losing traction, use the tips provided above to keep the flow of viewers coming. Your job will be the consistent maintenance of this blog and never let it wither away, keeping it fresh with new content once every few days. If you are dedicated enough, you can provide content almost every day, giving people more incentive to keep reading.

Canada Gambling Laws

By
PVP Team
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Gambling is one of the most striking activities to perform. Although many people contemplate that gambling may not be the safest option, if you play it safe, there will not be any hindrance at all. But what you need to understand is that gambling laws are different in every country, and it is important to stick to each of them while you can. That is why whenever you select a no deposit casino or free demo slots make sure that you know about the gambling laws in that region. But if you think you do not know how to do this, we are here for you.

In this article, we will showcase the gambling laws of Canada. So, if you are a Canadian or in Canada to play at their casino, make sure you follow the regulations of gambling in that specific region to remain on the safe side. We promise; you will not face any problems once you focus on that. So, why keep waiting? Read on to find out about Canada’s gambling laws and other things related to it. We promise; it will help you out on time.

Is it Legal to Gamble In Canada?

We often wonder, is it legal to gamble in Canada? Well, since we had not heard much about this, we were in quite a dilemma. But thankfully, if you have a passion for gambling, you will be happy to know that it is legal to gamble here. However, you will be taken aback to know that until 1985, many types of gambling were illegal in this region. Even after casino games were played, it took many years for the entire idea to become legal in Canada. Once the industry was developed and there were enough parties to agree on the legalization of casinos in Canada, gambling was approved by the government.

Today, you will be surprised to discover that Canada’s gambling revenue has reached nearly C$ 14 Billion per year. With this, numerous technological advancements made this possible. As such, websites and mobile apps relating to casinos were also launched to reach out to more passionate gamblers and provide convenience at every step of the way. Unfortunately, online gambling still manages to fall into the grey zone. Why is that so? -Because one is not restricted to gambling online. However, one cannot operate an online casino without a proper license only issued by the government of Canada. So, Canadians only have one option left- they can legally play their favorite casino games online on offshore websites.

Gambling Laws in the Provinces and Territories 

Now, you must understand that every territory and province has its own gambling rules and regulations. As such, there are several differences in their rules, and one must abide by the laws of each place accordingly. It would help if you also concentrated on the minimum age needed to play at a casino. So, if you wish to know when and where you can gamble, take a look-

Quebec

Quebec has access to an offshore casino that the government runs. This is one of the most liberal places in Canada and thus allows you to play at online casinos. Mise-O-Jeu is one of the best betting sites that is safe for this purpose. However, keep in mind that one can only place parlay bets in this one.

Alberta 

In Alberta, people love to gamble away. That is why if you are an ardent gambler, you must visit Alberta. Players have the liberty to choose from among 25 different land-based casinos that are present here. Sports betting may also be permitted. However, only parlay bets can be placed on them. So, make sure you focus on that.

British Columbia 

Nearly 15 land-based casinos in British Columbia are present at the moment. But you can only use PlayNow here as it is the only betting site and Canadian gaming site available here.

Manitoba 

PlayNow Manitoba is the sole licensed online casino in this zone. You must also want to know that the sports bets available here are limited to C$250per day. You may also only be able to avail these from the Sports Select site. So, keep an eye out for that as well.

What Other Places Have Different Gambling Laws In Canada?

Ontario 

There are nearly 24 casinos in Ontario and many venues for slot machines. If you want to experience a relaxing gambling experience, this place is all you need. You can also play at PlayOLG and bet on the Pro-line Service when in need.

Nova Scotia 

This province can offer residents two different casinos that fall under the ownership of the government. You can also practice Parlay sports bets here.

Why Is Gambling All You Need?

  • Gambling can help you learn about a variety of games.
  • Help you earn a good amount of profit.
  • It works as a great distraction and releases stress.
  • May allow you to interact with numerous people and have a different experience altogether.

Illegal Gambling and How to Abstain from It?

One of the primary aspects you need to remember is to always join fully licensed and regulated platforms for gambling. This will ensure you are on the safe side every step of the way. Apart from this, many licenses work to deliver their solutions to Canadian players. However, the trustworthy ones are only- Gambling Commission, Malta Gaming Authority, and Curacao. But that is not all. It would be useful if you also focused on reading expert and player reviews wherever possible to understand whether the site you wish to join is safe enough or not. This way, you can always use legal sites and cater to e regulations of your country.

The Bottom Line 

We hope you found this helpful. If you did, make sure you read this article for the best experience. We promise; you will not regret it. If you have any queries, do not forget to speak to your specialist about the same. They will help you out.

New Softswiss report reveals gamblers turning to crypto payment as a preferred option

By
Christian Allen Tandoc
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A new report from Softswiss has revealed that cryptocurrency has started to emerge as the payment method of choice for many casino players.

Indeed, with the continued increase in services available, it does not come as a surprise to learn that casino platforms offering crypto slots are becoming increasingly popular although it would appear that many gamblers are now looking to adopt digital assets as a favored payment method across the entirety of the iGaming industry.

Crypto payments enjoy a surge in popularity

The new report from Softswiss, which has looked at the development of crypto across the business’ online casino platform, sports betting platform, and game aggregator clients, has found that crypto payments have enjoyed a huge surge in use over the last quarter of the financial year.

Findings have revealed that the use of crypto as a payment method has increased by 28% between Q2 2021 and Q3 2021, with the use of digital payments being found to be greater by 2.8 times the level that was being experienced in Q3 of 2020.

Speaking about the figures found, Softswiss COO, Andrey Starovoitov, admitted that whilst iGaming companies have been investing more into the marketing side of things, the fact that there has been growth in regards to demographics of the industry has also helped.

He said: “This strong growth is not only due to Softswiss’ organic development but also owes itself to increased digital consumption around the world,” before adding: “iGaming companies are investing more and more into marketing. This leads to an increase in the popularity of online gaming and betting among female audiences and young players over the age of 21 who actively use cryptocurrencies in their daily lives in general and for online betting in particular. This is reflected in the increasing share of crypto in igaming.”

Crypto bet share also increases

It is not only the number of players that have started to use cryptocurrency as a form of payment that has seen an increase in recent years and quarters, with the share of bets in crypto also experiencing an increase in growth.

Figures in the report highlighted that there has been a 27.6% increase in the share of bets in crypto compared to fiat bets compared to Q3 2020. When looking at the period between Q2 and Q3 of 2021, it was found that this figure had risen by 10.3%, making the leap from 33% to 43.3% respectively.

Starovoitov provided his reasons as to why the growth was likely experienced, explaining that the market is more experienced this time around than it was a year ago, whilst the expansions made by operators into new markets will have played a significant role, as well.

He said: “This dynamic is most likely due to the growth and development of the number of crypto brands. While in Q3 2020, they were still newcomers to the market, they can be considered experienced players in the crypto gambling industry this year. The expansion of these brands into new markets has also played an important role in this.”

What could be making crypto payments popular?

There are a number of different reasons that could provide the answer and help individuals to understand some of the figures that Softswiss’ report has provided, with cryptocurrency managing to provide a number of additional benefits that fiat currency is simply unable to provide.

Amongst the major advantages that crypto gambling bettors experience when they use digital assets, players are able to enjoy a higher level of privacy and anonymity, with this perhaps one of the major appeals for many around the world, especially as some countries still outlaw online wagering.

Additionally, crypto allows punters to be able to experience faster transactions that are easier to make and can be inexpensive compared to fiat currency, whilst additional levels of security are provided by the blockchain technology used, thus making it immediately more favorable for those looking to better protect themselves.

What is Day Trading and what markets can you trade-in?

By
PVP Team
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While there are many investing methods in the financial markets, more and more traders are turning to day trading. This investment strategy is an active trading technique that allows you to profit from market movements over a trading day. Find out in this guide what day trading is and how to get started for beginners.

So, what is day trading? As the name suggests, day trading is a strategy that involves buying and selling financial assets on the same day. Therefore, the day trader generally takes advantage of small price movements to speculate on the evolution of an asset from a few minutes to a few hours.

Day trading is one of the trading techniques that requires the most attention and availability. Indeed, you must be in front of your screens to take advantage of each trading opportunity that presents itself during a trading day.

The main goal is not to pay overnight fees, also called rollover or swap fees. These fees generally have to be paid to your broker when you hold a position overnight.

A method of intraday trading, day trading generally relies on leveraged products and margin trading to amplify market movements. CFDs or Contracts for the Difference are one of the most popular financial derivative products for investors with short-term strategies.

CFDs act like a financial contract in which you and your broker exchange the value of an asset between the opening price and the closing price of a position. This way, you do not own the underlying asset that the CFD is dealing with. You are only speculating on the change in its price.

Additionally, online CFD brokers are generally good platforms. They offer plenty of markets, robust trading platforms, and reasonable trading fees. You still have to use the right broker …

What markets can I do day trading in?

Day trading is a strategy of taking advantage of price movements during a trading session without holding open positions overnight. Thus, it is possible to do day trading in any market available through your broker. Among the most popular are:

  • Forex
  • Stocks
  • Indices
  • Commodities
  • Cryptocurrencies

Finally, significant volatility on the securities and other assets is the second important condition. It is volatile when the variations that it registers during the sessions is important (more than 5%). The Day trader will look for these values ​​for his operations; the variation must be relatively large to generate profits during the day.

It is most often the technology stocks that will be privileged. Their daily variations frequently exceed 5 to 10%, enough to give the day trader some margin.

Choosing a day trading broker

Since day trading requires responsiveness, your broker needs to be able to offer quick turnaround times. Depending on your day trading strategy, the tools and indicators you need should also be available in the trading platform.

Remember, a day trader takes many positions per day. Thus, brokerage fees such as the spread, which is the difference between the bid price and the asking price, should be as low as possible.

How much capital to start day trading with?

The first thing to remember is that you should only trade with money you are willing to lose and never borrow to invest.

With the many brokers available in the market, there are options for all budgets. For example, you can start day trading with the sum of € 100. For many traders, starting with an amount of $ 2,000 is reasonable.

The most important thing when it comes to day trading is that your trading costs do not outweigh your profits.

Australia Discloses Plans For Huge Crypto Regulations

By
Christian Allen Tandoc
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According to the newest declaration by Australia’s Treasurer, Josh Frydenberg, the Australian Government is ready to embrace the new digital trend in order to profit from the convergence of finance and technology. The new legislation will encourage industry innovation, opportunity, and openness. The objective is to create a framework that broadens the scope of regulated services and goods while also bringing cryptocurrencies and digital assets into the mainstream.

“We want to bring cryptocurrency out of the shadows and into a well-thought-out regulatory framework.” “We welcome buys and sales,” Frydenberg says.

As the restrictions take effect, organizations dealing with cryptocurrency will be required to get a license to safeguard their customers’ safety and security. This will provide a fair playing field for new market entrants. “Greater competition is better for the customer because it expands options and, obviously, more innovation,” he says.

A Central Bank Digital Currency (CBDC) is also in the works. The government is investigating its viability, with advice expected by the end of 2022.

The most significant payment change in 25 years

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“Our payment system is undergoing a digital transformation.” Cheques and cash are no longer accepted. We now have digital wallets and digital currencies, which are quickly becoming the standard. “In the previous 25 years, the regulatory framework has not kept up with digital innovations,” Frydenberg observes.

In October, the Australian Senate Committee issued a series of proposals to regulate the digital asset and fintech industries. This includes market licensing for digital asset providers, digital asset custodial agreements, and a regulatory framework for DAOs.

These ideas are addressed in the most recent announcement. A custody or depository regime for firms that handle crypto assets on behalf of customers will be examined to inspire trust in investors. The government will discuss with the Council of Financial Regulators and other relevant organizations the underlying reasons and policy solutions to the complicated problem of de-banking.

Also, following careful research, how Decentralised Autonomous Organisations (DAOs) may be accommodated into Australia’s legal and financial regulatory frameworks will be examined. While laws that strike a balance between the interests of consumers and companies without limiting innovation are being considered, no mention of a tax break for bitcoin mining was made.

Gibraltar To Integrate Blockchain Into Its Legacy Systems

By
Christian Allen Tandoc
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Gibraltar has revealed its ambitions to use blockchain technology to improve the quality of public services for citizens and companies. The integration is a cooperation between IOVlabs and Bitso, two blockchain startups. The transaction was achieved as a consequence of the businesses’ long-standing commitment to Gibraltar’s introduction into digital ledger technology.

How does the integration take place?

The solution’s primary goal in the initial phase will be to enhance the functionality of Gibraltar’s eGov system by permitting the storing of government-issued and validated credentials. The solution will be developed on RSK Blockchain, which will serve as a solid basis for the project. RSK is a product developed by IOVlabs, one of the venture’s partners. During the project’s development, IOVlabs will also provide technical assistance to the government’s Digital Services team.

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Bitso, a Mexican cryptocurrency exchange regulated in Gibraltar under the DLT Providers Regulatory Framework, will give $500,000 in bitcoin to the program. According to the release, the government has not yet committed financing to the project. More information regarding the money, including the government’s future participation, is still being withheld. The project is set to begin in early 2022.

‘Jurisdiction of preference’ for blockchain firms

For a long time, Gibraltar has been supportive of emerging technologies such as blockchain. It was the first jurisdiction to pass legislation pertaining to Distributed Ledger Technology (DLT). Gibraltar began digitizing public services earlier this year by implementing an eGov system. The current endeavor simplifies government services and improves connections across government agencies, individuals, and businesses.

“Gibraltar has effectively positioned itself as an innovative jurisdiction for innovative enterprises creating and selling blockchain-related products.” “Integrating blockchain technology into our procedures in collaboration with our stakeholders working here will further enhance the way our community interacts with the government,” says Isola MP, Gibraltar’s Minister for Digital and Financial Services.

SushiSwap Now Facing Another Leadership Issue

By
Christian Allen Tandoc
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SushiSwap leadership conflicts had resurfaced when CTO Joseph Delong requested greater autonomy and a pay boost for core developers.

SushiSwap changed ownership a few times

A Uniswap fork resulted in the second-largest general-purpose DEX on Ethereum. SushiSwap was an early adopter of liquidity mining, aggressively exploited to urge Uniswap customers to shift their LP tokens to SushiSwap. As a result, individuals in the DeFi business coined the phrase “vampiric mining.”

Chef Nomi, the mysterious SushiSwap creator, was fired in September 2020 after selling a 14 million USD part of the development money. The DEX was taken over by a group of well-known crypto figures led by FTX CEO Sam Bankman-Fried, who eventually selected co-founder 0xMaki as project leader. About a year later, 0xMaki resigned from this post but said he would continue to serve as an advisor.

Was 0xMaki fired in secret?

Internal images were leaked in June 2021, implying that 0xMaki’s departure was a forced-choice organized by SushiSwap’s key developers. Instead, he was given an advising role since he was on a three-year contract and could not be fired.

Other recently sacked developers indicated that what was once a showpiece project for community-driven development is now in the hands of just five core team members who have complete power over recruiting and dismissing.

“JOKR” is accused of stealing and misbehaving.

The main team, Joseph Delong, Omakase, 0xKeno, and Rachel Chu, was also chastised for using the dev cash to pay for lavish dinners and event tickets.

This was eventually surpassed when JOKR distributed the BitDAO token sale incentives to core team members, substantially favoring themselves in the distribution. Half of the money was meant to be sent by airdrop to token holders, but they were never distributed.

On December 5, Joseph Delong posted a Twitter thread in which he called the claims “absurd slander.” He vowed to resign as CTO unless the core team members were granted greater authority and paid more.

Of course, whether $300,000 is a suitable pay for the CTO of a 750 million USD DAO is debatable. But being suspected of embezzlement is hardly the moment to seek more authority and a salary hike.

This was the final straw for the SushiSwap community, which is now debating a governance motion to urge Delong to stand down. Polls show that 82 percent of people support it at the time of writing. Another recommendation is to terminate Rachel Chu, who is believed to be responsible for the BitDAO incident:

Regaining control

The SushiSwap community is now debating how to go from here. One suggestion is that the core team formally explain various concerns, including the BitDAO incident and 0xMaki’s resignation.

“Rachel Chu must be removed for taking the Bit Dao money worth 600k without consulting us or her team members. […] Rachel must be fired and the Bit Dao money returned to the community. Rachel acted illegally and breach of her duty as business development person for Sushi.”

Several ideas have been made to reform the SushiSwap DAO. One of the most likely candidates wants to form a group of product teams, with operations monitored by a council chosen by the community. So far, all 73 poll votes for this proposal have been cast uniformly in favor. Another suggestion calls for the election of a CEO for a six-month tenure.

Former CEO of Google Now A Strategic Advisor For Chainlink

By
Christian Allen Tandoc
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Former Google CEO and co-founder of Schmidt Futures, Eric Emerson Schmidt, has joined Chainlink Labs as a strategic advisor. The global business leader will lead the team in creating a ‘truth-powered world.’

Schmidt feels that the introduction of blockchains and smart contracts shows significant promise for the development of new business models. However, the walled nature of blockchain technology prevents its widespread use.

“Chainlink is a key component in unleashing the promise of smart contract platforms and transforming business and society.” “I am thrilled to be working with the Chainlink Labs team to create a world powered by truth,” he says. Schmidt mentioned the idea earlier this month during a webcast on ‘The Age of A.I. and Our Human Future.’ From 2001 until 2011, he was the CEO of Google.

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Blockchain systems are supposed to be isolated from the outside world. While this increases security and integrity, it also limits the amount of data entered. Chainlink became an oracle solution for hybrid smart contracts on any blockchain—the link to external APIs and access safe off-chain calculations, allowing efficient programs to be equipped.

As blockchain networks and Chainlink oracles approach a tipping point in growth and adoption, the team is certain that Schmidt’s experience establishing global software platforms for futuristic ideas will help the project expand. Chainlink is now the 21st most valuable cryptocurrency in terms of market capitalization.

Ukraine Police Raids Crypto Farm

By
Christian Allen Tandoc
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Authorities in Ukraine discovered and shut down an illicit cryptocurrency mining plant. The plant reportedly stole electricity to run its activities in the Kyiv area. According to the police, the culpable parties were three inhabitants of the same region who hired a huge structure in the Mucha district to store mining equipment and conduct operations.

The Ukrainian Security Service (SBU) reported discovering an underground crypto farm in Kyiv. They allegedly stole large amounts of power, creating ‘damage’ of more than UAH 3.5 million (about $127,884).

The energy was allegedly stolen by meter tampering or bypassing, implying that the perpetrators messed with electrical meters. They did not read or reflect the actual quantity of electricity utilized. They were paying “symbolically the bare minimum” for high-level consumption.

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Law enforcement investigators confiscated crypto mining hardware worth 6 million hryvnias (about $219,230). They are presently attempting to prosecute the perpetrators and determine whether there are any additional people involved. Legal action shall be pursued in accordance with Part 3 of Art. 190 (fraud) of the Ukrainian Criminal Code, which refers to ‘fraud’ and reads:

The Ukrainian Security Service is conducting a computer-technical and economic investigation to determine the extent of the harm. The operation included National Police detectives working under the procedural supervision of the Kyiv Regional Prosecutor’s Office and specialists from PJSC Kyiv Regional Electric Networks.

Ukraine has been focusing on developing clear legislation governing cryptocurrency activity. In September, the Ukrainian Parliament passed draft Law No. 3637, “On Virtual Assets,” introducing new laws that apply to all virtual assets in the nation.

‘The Draft Law,’ which will be approved by Ukraine’s President, allows Ukrainian and non-resident enterprises to provide crypto-related services. The overall gist of the text is that corporations that engage in crypto activities will have to pay a 5% income tax. Individuals will have to pay a 10% + 1.5% military charge for virtual asset operations.

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As stated plainly, citizens are not permitted to utilize virtual assets as a form of payment or exchange for goods or services. The president’s recommended modifications to the virtual asset bill are now being considered.

Furthermore, there is no prohibition for cryptocurrency mining, and the businesses do not even require a license. The referenced crypto farm was only unlawful because of meter manipulation, which was also the reason for earlier Ukrainian searches this year.

Several news outlets have reported similar police operations in Russia in recent days. According to reports, law enforcement authorities uncovered a mining farm near Moscow that was illegally utilizing electricity from Rosseti. This Russian power-grid firm is one of the largest in the world.

However, the news has referenced Ekaterina Korotkova’s statements from the Moscow Interregional Transport Prosecutor’s Office, allegedly published by the Russian news agency TASS. Still, the quotation – and hence the stories – are untrustworthy because the source cannot be traced.

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What is certain is that Russian authorities will shut down unlawful crypto mining operations in 2021, and a crackdown by the local government on bitcoin activity has already been feared, owing to various ambiguous reports and rumors.

In October, four bitcoin mining devices were captured by Russian police at a security checkpoint on the country’s southern border with China. This sparked debate, with some crypto blogs claiming that the episode signaled a Russian anti-Bitcoin effort.

However, this did not appear to be the case since the equipment was taken due to the miner’s failure to present the requisite papers and pay the charge, and no bill prohibiting crypto mining activities was approved.

Meme Coins Drop From Crypto Top 10 For First Time In Years

By
Christian Allen Tandoc
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0
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So far, the meme coins have had an incredible year. What began with Elon Musk promoting Dogecoin on Twitter has grown into a multibillion-dollar industry. Meme currency after meme coin had followed Dogecoin, and a large number of them, such as Shiba Inu and SafeMoon, had achieved favor in the market.

The growth of meme coins has undoubtedly resulted in some of them breaking into the top ten cryptocurrencies. Despite being nowhere near the top projects in terms of individual values, the digital assets’ enormous supply saw their market valuation swiftly rise, rivaling some of the greatest projects in the industry. It was open season on meme coins once Dogecoin became the top ten cryptocurrencies by market valuation.

However, with the recent market decline, meme currencies have been particularly hard hit, causing their market capitalization to decrease as a result. Following that, all meme currencies were removed from the crypto top 10.

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Dogecoin is likely the most popular and valuable of all meme currencies. As a result, a beat down for the asset can frequently signify bad news for the rest of the meme coin market.

In January, Dogecoin initially entered the top ten largest cryptocurrencies by market size, following a meteoric rise fueled by Elon Musk’s unwavering support for the cryptocurrency. Since then, the meme currency has risen and fallen on the list, peaking at fourth position after deposing ADA and BNB. Doge did not hold this position for long, but it was a key milestone for the asset.

Shiba Inu, a competitor, quickly followed Dogecoin’s popularity. When Ethereum inventor Vitalik Buterin contributed around $1 billion worth of SHIB to an Indian COVID relief fund, the meme coin meant to be the “Doge killer” achieved remarkable success.

SHIB had also gone on to reach new highs, breaking into the top 10 with Dogecoin. It even outperformed its predecessor at one time, peaking at eighth place on the chart. However, market circumstances were not beneficial to the coin, and it quickly slid out of the top ten.

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During the recent market downturn, the pioneer cryptocurrency bitcoin fell to $54K. It had unintentionally dragged the rest of the market down with it, as altcoins experienced significant losses. Dogecoin and Shiba Inu were not forgotten, as both cryptocurrencies saw one of their reddest days. By the time the market meltdown was over, both meme currencies had lost enough to tumble out of the top ten crypto coins.

This is the first time in nearly a year that there is no meme coin in the top ten. With the entry of Shiba Inu into the top 10, one or both coins were always included on the list.

This might be the start of a new era when other initiatives with far greater prospects and use cases overtake the top ten. Terra (LUNA) is one of these initiatives, with a fantastic weekend run propelling it to the tenth spot on the list.

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