Affordable coin SHIBA INU(SHIB) has gained 11% over the past 24 hours, bringing to No.19 and total market value to $10,8 billion, according to CoinMarketCap, after Elon Musk tweeted a picture of Shiba Inu on Sunday night.
Q3 was characterized by conversations around scalability and broader adoption. With bitcoin officially becoming legal tender in El Salvador, the Lightning Network found its way into headlines as the Bitcoin network sought to transact value cheaply without needing to wait hours to confirm a transaction. A decisive breakout above $62,000 could yield further upside toward the all-time high near $75,000, unless buyers start taking profits.
The growth of decentralized finance (DeFi) and non-fungible tokens (NFTs) caused transaction fees on Ethereum to rise so much that new blockchains were able to scoop up some of its market demand. That said, Ethereum still performed well in spite of potential substitutes, given how intimately tied it is to DeFi and NFTs more broadly.
Gas price surges to a record high in Europe on supply concerns. Natural gas contracts hit new highs in Europe on Tuesday, as soaring prices continue to put pressure on the region’s energy sector ahead of the winter period.
November contracts at the Dutch TTF hub — a European benchmark for natural gas — were trading at around 118 euros per megawatt hour (MWH) just after midday in London. The front-month contract was up almost 19% on the day, setting a new record high, and has risen almost 400% since the start of the year.
In the U.K. — which has been hit particularly hard by the surging cost of wholesale natural gas — prices for November rose 14% to £2.79 per therm on Tuesday. Meanwhile, British wholesale gas for immediate delivery rose by 23% to £2.50 per therm.
Soaring wholesale prices have partially been caused by a surge in demand, particularly from Asia, as economies emerge from Covid-19 induced lockdowns. A cold European winter and spring also meant supplies had already been heavily depleted by the summer.
Meanwhile, falling domestic production, adverse U.S. weather conditions and essential maintenance works have created a tight gas market and made restocking gas supplies ahead of the coming winter difficult across the region.