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Shiba Inu is a cryptocurrency that changed the lives of early investors for good. SHIB was released in August 2020 at a modest price of $0.00000000051 (nine zeroes) and was extremely affordable to the average Joe. A mere investment of $2,000 could have fetched investors trillions of tokens making it seem like an interesting affair. A truck driver from the U.S. got in early on Shiba Inu in 2020 and quit his job after making $1.7 million. The life-changing gains occurred less than a year after he poured a mere $650 into SHIB. The driver made generational wealth in a short period and now lives a life of financial freedom. Also Read: Becoming a Shiba Inu (SHIB) Millionaire Will Only Cost You $6.75 Shiba Inu: $650 Turns Into $1.7 Million in Less Than A Year Source: Pixabay A truck driver purchased $650 worth of Shiba Inu tokens in 2020 and got about his work as usual. Little did he know that he would turn a millionaire the next year and no longer drive for a living. In May 2021...

Parrot Finance is facing a redemption vote two years after raising over $80 million in a public token sale during Solana’s heyday. The proposed redemption program seeks to end Parrot’s governance token, PRT, with more than $80 million from its treasury set to be distributed among holders at $0.0045 per token. The price would drastically devalue the investment of early backers , causing them to recoup just one-tenth of their initial investment of $0.04 per token.  Critics claim that the team behind Parrot Finance could walk away with as much as $60 million under the proposed redemption plan while leaving other investors with only $12 million. Today in governance was a mistake news: @gopartyparrot team takes their $72m remaining in ICO funds and attempts to split it $12m to the token holders, $60m to the team. Oh they also early unlocked their tokens and will be voting it through regardless of what anybody else says pic.twitter.com/vmhDXJochQ — Spreek (@spreekaway) July 21,...

Historical data shows that apart from a few times since 2015 when altcoins outperformed BTC, a ‘Bitcoin only’ investment strategy has fared considerably well. Altcoins offer diverse, innovative features, promising technological advancements, and potentially lucrative investment opportunities. Many-a-time specific altcoins post handsome gains that surpass Bitcoin (BTC), popularly known as altcoin season. However, K33 Research analysis shows over the long-term, ‘Bitcoin only’ has been a better investment strategy than an altcoin portfolio. Altcoin portfolio underperformed Bitcoin over the long run Bitcoin has had three consecutive bull and bear market cycles, starting in 2013 with the latest one coming in 2021. In each cycle, Bitcoin’s price rose parabolically in a very short span, usually a few months, after surpassing the peak of its previous cycle. In 2013, BTC peaked around $1,175 and after that followed a downtrend for two years. At the time, the altcoin market was in its nascent ...

Meanwhile, the altcoin price crash triggered inflows for XRP, Cardano and Polygon. On June 19, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” revealing that cryptocurrency investment products experienced out flows totaling $5.1 million last week. The out flows contributed to the continuation of a nine-week streak of out flows , resulting in a cumulative total of $423 million. Weekly crypto asset flows. Source: CoinShares The report noted that despite this downward trend, there was a glimmer of hope toward the end of the week, as news emerged that BlackRock, one of the world’s largest asset managers, had submitted an application for a Bitcoin (BTC) exchange-traded product (ETP) in the United States. This development resulted in minor inflows; however, they were not significant enough to offset the earlier outflows observed during the week. As a consequence, the streak of outflows persisted. Examining the regional breakdown, the ...