Shiba Inu had a minor setback, which is logical given its previous steady upward trend, but could make a new departure soon. A supermarket worker bought around USD 8 thousand worth of Shiba Inu, and the risky bet turned him into a millionaire.

The price of Shiba Inu (SHIB) continues falling, but large whales, brands, and corporations continue buying the cryptocurrency.

Short-term traders have abandoned their positions and most of the markets. Smaller altcoins, including Shiba Inu and Dogecoin, have suffered a higher loss compared to Bitcoin.

Sergio Turi, CEO of Inversiones en el Mundo, recently said Shiba Inu had a minor setback. That is logical given the steady upward trend that it had previously had.

The price seems to be accumulating, which suggests that it could make a new departure soon. If the pattern generated is correct, the value could increase by an extra 100% before the end of the year.

Some Whales Buy a Significant Amount of SHIB

Taking advantage of the SHIB immersion as an opportunity, some whales have purchased a significant amount of SHIB. Although the market does not seem to be turning bullish, they have confidently invested in the tokens.

Many experts in the cryptocurrency industry believe that investing in the SHIB memecoin is not a good idea. Despite their disapproval of the memecoin, the market seems not to listen, as more people buy and sell SHIB on their wallets.

On November 22^nd, an anonymous person invested about USD 36.8 million to purchase more than 850,000 million units of Shiba Inu.

Before that, on November 17^th, WhaleStats registered a high investment in Shiba Inu from an investor who bought 171 billion tokens for USD 8.3 million.

Some days earlier, an unknown investor acquired nearly USD 1.15 billion worth of Shiba Inu units.

The whales seem to know something that experienced cryptocurrency investors do not.

Online software retail company Newegg recently confirmed that it would accept Shiba Inu as a payment option.

A Supermarket Worker Becomes a Billionaire

Curiously, a supermarket worker invested around USD 8 thousand in the Shiba Inu memecoin. According to business magazine Fortune, the risky bet turned that family man into a millionaire in less than a year.

He said that he comes from a poor setting and never imagined having so much money.

The Performance of the Shiba Inu Memecoin

The value of Shiba Inu dropped by 16% at the peak but then rallied with a loss of 10% every day.

Shiba Inu earned about 30% in one day but then fell back to a daily profit of 15%.

Although some whales buy a significant amount of SHIB, the market does not seem to react. At the moment, the volatility of the SHIB token remains low.

Shiba Inu is trading at around USD 0.00003918 and has accumulated a loss of 4.6% in the last 24 hours. Its trading volume is above USD 1.7 billion, and its market capitalization is about USD 21.5 billion, according to CoinGecko.

The memecoin has lost 55% of its value since it last reached an all-time high of USD 0.000087.

By Alexander Salazar

The proposal would allow managing a considerable number of transactions per block on Ethereum. The size of each block gets limited by the amount of gas that the computational effort represents.

Ethereum co-creator Vitalik Buterin has suggested a new Ethereum Enhancement Proposal (EIP) that plans to increase the block size to 1 megabyte (MB). This action goes to find a solution, in the short or medium term, for the high rates that get paid in this network specialized in smart contracts.

EIP-4488, which is currently a subject under discussion, got posted on GitHub on November 23. The motivation for increasing the block size focuses on making more use of rollups or second-layer solutions. According to Buterin, they could set a reduction of current commissions up to eight times before the arrival of Ethereum 2.0.

Currently, the blocks in Ethereum get only limited by the amount of gas that each transaction adds. Gas means the computational cost required of a miner to validate an operation within this network. Currently, the maximum limit per block is at least 12,500,000 gas.

The gas price gets defined by the consensus of miners, who choose whether to increase or reduce it according to demand balances. A particular transaction on Ethereum – such as sending ether (ETH) from one wallet to another – typically takes 21,000 worth of gas.

According to data from Eth Gas Station, of USD 0.17 per 100 gas units, the commissions are at least USD 40.  The new EIP would set various changes in the protocol rules and set up block limits linked to data with a maximum of 1 megabyte. The maximum size reached in a block of Ethereum is 0.08 MB. It is a figure almost ten times smaller than the size proposed by Vitalik Buterin.

Ethereum blocks process at least 15.1 transactions per second (TPS) along with their current weight and with mining times of 12 seconds between each of them, according to data from Blockchair. An increase in the size of the blocks could lead to a growth in the TPS.

There are Rollup developments that manage many more TPS than the Ethereum mainnet processes. One of these cases is ZkSync 2.0, which would process more than 20 thousand TPS once they get enabled.

In this case, increasing the size of the blocks in Ethereum would allow more space for this type of second-layer solvency since there is more room for processing the information of the rollups.

However, the increase would have its cost. With a block mined every 12 seconds and a weight of 1 MB, it would mean that the blockchain would grow, theoretically, three terabytes per year, or according to Vitalik, in more friendly scenarios, one terabyte per year. This situation could challenge new nodes linking to the network and needing to audit such data.

For now, the EIP is a matter under discussion and has yet to be approved. However, several developers have already given their approval for this improvement for Ethereum. If approved, EIP would approach Ethereum, it can do it through a hard fork or a soft fork.

By: Jenson Nuñez

The cooling of submerged mining machines is something that has had its presence since 2015. The large companies in the sector will expand the mining of BTC with immersion procedures.

Cooling Bitcoin (BTC) miners by immersion in the liquid coolant is a proposal constantly resonating with the industry. The BlocksBridge consulting firm highlighted last week that it is an activity that intends to increase the profitability and speed of the machines, which keep the network alive.

According to Nishant Sharma, a BTC miner submerged in a tank with coolant could run faster and without risking overheating. During an interview with the Bloomberg agency, Sharma highlighted that each mining company is testing the technology. All large companies in the sector will be producing BTC with immersion on a large scale soon.

The businessman indicated that submerged mining could bring advantages to those who assume it over their competitors. In his opinion, the activity proposes to solve one of the complex calculations that sustain the Bitcoin system, promoting virtual features for the fastest machines.

The Path Towards Immersion-Cooled Mining has Experienced a Big Demand

David, a co-founder and chief scientist for the Texas Engineered Fluids company, said they are at the limit of their ability to cool electronic devices with air. Their business has grown 500% in the last six to seven months.

According to Bloomberg, Riot Blockchain, one of the most relevant miners in the North American country, reported in October that it was already creating the first large-scale dip-cooled Bitcoin mining farm within facilities in Texas.

Riot Blockchain,  also one of the few Bitcoin-linked companies listed on the New York Stock Exchange, reported that it would place 46,000 mining machines that need about 200 megawatts of electricity in coolant. In August, the Royal Dutch Shell Plc firm presented a new immersion cooling fluid, which could help boost mining activities.

According to Tyler Page, the CEO of Cipher Mining Technologies Inc., Bitcoin mining operations consist of thousands of computers stacked on shelves surrounded by large electric fans.

For this reason, and in the face of constant criticism of the mining industry for its supposed environmental impact, immersion cooling gains increasing popularity. Although it will not reduce energy consumption, it is feasible that immersion cooling would make the company even more profitable.

Submerged Mining is an old Story

Mining Bitcoin and other cryptocurrencies by applying immersion cooling is not a new deal. In fact, since 2015, is the subject of various investigations and studies. At that time, the Green Revolution Cooling Company launched an immersion cooling technology for mining machines.

The difference is that there was talk of oil to cool the miners back then. According to that company, it was about offering an extremely flexible infrastructure, fast to implement, and easy to scale.

Oil immersion cooling differs from any other form of precision and liquid cooling. It got designed to provide easy scaling, high-density industrial cooling with minimal upfront infrastructure and the power requirements we traditionally employ.

By: Jenson Nuñez

The price of SOL has been declining for three consecutive weeks, but a considerable rejection of low prices suggests it will resume its upward trend. It must break through the resistance at USD 230.50 to confirm the control of the bulls, which is very likely.

In January, Solana (SOL) was trading at USD 1.51, and its market capitalization was about USD 86 million. Many people have invested in the relatively new cryptocurrency, which they consider a competitor to Ethereum.

The upward trend in the price of Solana has caused surprise due to the dramatic growth of its network. The following analysis intends to indicate how likely it is that it will regain that strong direction.

While writing this article, SOL is trading at around USD 208 and has accumulated a 0.2% loss in the last 24 hours. Its market capitalization is about USD 63.3 billion, which places it in 5^th position in the cryptocurrency ranking, according to CoinGacko.

That network has great potential to scale and conduct transactions quickly and cheaply. For that reason, it is one of the best platforms for the development of decentralized finance (DeFi) apps.

Although Solana currently processes around 2,500 transactions per second, its potential is much greater. Its validation model, called proof of history, allows that network to process more than 50,000 operations per second.

That great potential could continue driving the growth of the network since users want cheaper and faster alternatives to Ethereum.

Technical Analysis of the Trend in the Price of Solana

The weekly chart indicates that the price of SOL has been declining for three consecutive weeks.

Last week, there was a strong rejection of low prices, which suggests a high probability that the value of Solana will soon resume its upward trend.

The price of SOL pulled back towards 50% Fibonacci, which may have been the bottom of the decline. Now momentum could drive the value of the cryptocurrency to USD 300 (-27% Fibonacci).

The bullish scenario is the most probable if the price of Solana continues to reach increasingly high lows.

Daily Chart of the Price of Solana in the Last Week

This period reveals that there is still a short-term bearish bias in the value of the Solana cryptocurrency.

However, the price of Solana recently respected support close to USD 195.70. As the dominant force is bullish, the short-term trend will possibly pass to buyers soon.

The price of Solana must break through the resistance at USD 230.50 to confirm that the bulls have regained control. Everything seems to indicate that there is a high probability that this will happen soon.

If the support at USD 195.70 remains, the short-term bullish scenario will not be at risk. It is only a matter of time before seeing what happens in the market of this young cryptocurrency.

Meanwhile, Bitcoin is trading at around USD 57,371 and has accumulated a 0.6% loss in the last 24 hours. Its trading volume is above USD 31 billion, and its market capitalization is about USD 1.08 trillion, according to CoinGecko.

By Alexander Salazar

Despite short-term negativism, the constant outflow of BTC from exchanges contributes to the shortage of coins. The trend is in the hands of the sellers, but the price is above a crucial support zone.

The price of Bitcoin broke through the most relevant immediate support and confirmed a short-term downward trend. In that way, it is closing a rather negative month, but there should be no reason to worry much about that.

Bitcoin is trading at around USD 53,904 and has accumulated a loss of 1.9% in the last 24 hours. Its trading volume is above USD 23.2 billion, and its market capitalization is about USD 1.02 trillion, according to CoinGecko.

Although there is short-term negativism in the market, the constant outflow of BTC from exchanges contributes to the shortage of coins. That can only lead to an increase in the price as long as demand increases or remains stable.

Liquidations of leveraged purchases have been causing problems, but that panic selling usually dissipates quickly. Therefore, the price of the crypto asset could soon resume the previous trend.

Bitcoin Has Had a Determining Behavior in the Last Week

The 4-hour candlestick chart indicates a significant bearish behavior crossing a sideways range where the price remained locked for nearly two weeks.

The current short-term trend is in the hands of the sellers, but the price is above a significant support zone. There could be a possibility to see an upward reaction to resume the higher trend.

The most likely scenario is that there will be some more sales in the next few days. However, that fall could not achieve a lower low, creating a double bottom and the possible bottom of the pullback.

The Price of BTC Is Just a Small Setback

The decline in the price of Bitcoin in the last two weeks is just a necessary setback after a strong bullish rally.

The bulls are still the dominant force and may cause surprise in the short term.

At the moment, the drop shows no signs that the price has already reached the bottom, so there could be higher sales. The closest support that the price should break is at USD 52,920.

However, when the value of Bitcoin resumes the trend, the developing momentum could drive it above its previous all-time high.

That will not happen this month, but the history of Bitcoin shows that its price usually gives pleasant surprises in December.

Bitcoin Already Surpasses PayPal and Could Reach Visa and MasterCard

Market intelligence platform Blockdata recently stated that the Bitcoin network moves more money than PayPal. It also estimates that its volume will exceed that of MasterCard and Visa within five years.

Blockdata warns that those networks do not work for the same purpose. However, it decided to compare the volume of money that each one handles to measure the magnitude of Bitcoin.

The firm published a report specifying that the Bitcoin network processed around USD 489 billion per quarter this year. In that way, it surpasses the payment platform PayPal, which made around USD 302 billion.

Despite the fall in the price of the pioneering cryptocurrency, it has shown that it can recover from its worst lows. The Bitcoin network stands close to leading companies, demonstrating the growing interest from investors in that asset.

By Alexander Salazar