Crypto Market Overview March 8th | Dex-Trade

Crypto Market Overview March 8th | Dex-Trade

Conor Grogan Found a Connection Between SHIB and Alameda

Coinbase's Head of Product Business, Conor Grogan, shared a series of very interesting tweets about Ryoshi, the mysterious and mystified creator of the popular SHIB meme coin, who continues to remain anonymous like Satoshi Nakamoto himself. Through blockchain analysis, Grogan discovered that the wallet directly linked to the founder of Shiba Inu (through the Bitkub exchange deposit) is also linked to an account on the OpenSea NFT platform and is called ALAMEDA. The address was used by Ryoshi to make two deposits in 2020 and 2021, he said, and Bitkub is not known to change deposit addresses. By the way, in September 2020, Meme Ltd. released a limited NFT collection “SBF Legendary,” inspired by the founder of the infamous FTX, Sam Bankman-Freed. But the same ALAMEDA account was directly involved in the minting of the tokens themselves. At the moment, there are only 8 such tokens, and the price of each of them is 25 ETH, that is, a little more than $39,000. As a result, Gorgan suggested that SHIB's creator may have taken over Alameda's OpenSea account in order to “squatting for the memes.” At the same time, the manager from Coinbase also pointed out that he had previously encountered “hints” about the connection between the coin and the crypto-lender. It turns out that the largest farmer SHIB withdrew $107 million worth of coins and sent them to exchanges on the very day that FTX expanded its perpetual futures crypto contracts.


Vitalik Buterin Sells Off Shitcoins

Ethereum co-founder, Vitalik Buterin, independently launched one of the largest shitcoins sales off in history. The crypto-engineer exchanged the tokens he previously received on airdrops for almost $700,000 in a matter of hours. According to blockchain analytics service Etherscan, Buterin’s wallet “offloaded” 500 trillion SHIKOKU (SHIK), equivalent to 380.3 ETH (or $595,448), almost 10 billion Cult DAO (CULT), equal to 58.1 ETH (or $91,021) and 50 billion Mops (MOPS), which cost 1.25 ETH (or $1950). Due to the low liquidity of the tokens, the sale had a huge impact on their prices. According to CoinMarketCap, the most disastrous thing was SHIK, whose value after the sale of Buterin collapsed by 86%. It is noteworthy that the total number of SHIKs in circulation is 1 quadrillion pieces, while exactly half of this “wealth” previously belonged to Buterin. Recall that in May 2021, the co-founder of Ethereum initiated a similar “total” sale of tokens. Then the list of "shipped" coins included such celebrities as Shiba Inu (SHIB) and Dogelon Mars (ELON). Their sell-off resulted in price drops of 40% and 90%, respectively. As for the reason for such sales, analysts believe that Buterin is getting rid of airdrops, due to possible tax consequences, since their receipt in most countries where regulation mechanisms at least somehow work is subject to income tax.


Claire Silver Will Present the First NFT Collection at the Louvre

Artist Claire Silver, who uses artificial intelligence to generate and assist in the creation of NFT projects and exhibits, is going to present her new collection at the Louvre in Paris at the end of March. Her new collection, “can i tell you a secret,” is “autobiographical series of 100 post-photography pieces created with AI,” according to Variety. The opening of the exhibition is tentatively scheduled for March 21, and the Superchief Gallery has become its main organizer. As a complement to Silver's debut, a one-of-a-kind NFT work titled “Love in the 4th Turning” will be on display at the Louvre. According to the author's description, his concept was based on Strauss-Hau's theory of generations, which states that “there is a recurring generational cycle of archetypes throughout history.” This work is currently available on OpenSea and has a maximum bid of 44.44 WETH, or approximately $68,500. By the way, in addition to her exposure at the Louvre, Silver signed a contract with the international talent agency William Morris Endeavor (WME), where she became a debutant artist who works with artificial intelligence. “We’ll bring AI art to mainstream culture together.” — Silver wrote, commenting on her partnership on Twitter.