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The apex cryptocurrency, Bitcoin (BTC), which traded 5.2% lower at $55,703.13 at press time. SHIB is getting love from Chinese investors who are aware of the project’s lack of technological promise. The coin is likely to be referred to as “s tcoin” by Chinese traders, CoinDesk reported. “SHIB’s price performance over the weekend clearly shows that the crypto industry hasn’t had its fill of canine-themed memecoins just yet,” said Rick Delaney, a senior analyst at OKEx Insights, as per CoinDesk. Why It Matters: The appreciation in SHIB is fueled by Chinese social media influencers on platforms such as Weibo and WeChat. ....
Ethereum (ETH)-based cryptocurrency traded above 20% at press time in the early hours of Monday. What Happened: TEL traded 24.12% higher at $0.54 and was up 264.83% on a seven-day trailing basis. In terms of weekly gains, TEL was placed on the third spot behind SHIBA INU (SHIB) and See Also: TEL has racked up year-to-date gains of a whopping 30,496.25%. In comparison, the apex cryptocurrency Bitcoin (BTC), has managed gains of 102.73% since the year began. BTC traded 0.85% lower at $59,120.94 at press time. Last week, Telcoin’s official Twitter account posted that a bill in the Nebraska legislature centered around digital asset depository institutions connecting consumers to cryptocurrency and decentralized finance or DeFi in a “safe and compliant” manner had advanced from the committee stage. ....