Crypto mining Crypto trading face-off: Shiba Inu (78 million percent in a year) vs Koinos (535% in a month)

Crypto mining Crypto trading face-off: Shiba Inu (78 million percent in a year) vs Koinos (535% in a month) thumbnail

Crypto mining

The story of Shiba Inu (SHIB), crypto’s best-performer of the yr, nonetheless boggles the thoughts — even after a number of retellings. Simply 12 months in the past, the worth of 1 SHIB token had ten zeros in entrance of it: $0.000000000063 on quantity of $682.58, in keeping with CoinGecko.

By late October of this yr, six of these zeros had gone and Shiba Inu had flippened Dogecoin to grow to be the most important dog-themed token on this planet, a top-ten cryptocurrency value round $47 billion.

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Regardless of dropping virtually 40% from that all-time excessive, SHIB nonetheless sits at a market cap of just about $29 billion — making it virtually 350 occasions extra useful than our contender, Koinos Community (KOIN).

Koinos Community has been the best-performer of the week on the Cointelegraph Markets Professional information and intelligence platform, the place the proprietary VORTECS™ Rating served up a massively bullish collection of 90+ scores during the last two weeks.

Following these scores, KOIN soared from a earlier excessive of round $0.22 to a latest high-water mark of $0.95 — nonetheless comfortably beneath a $100 million market cap.

What do these two tasks have in frequent? Nearly nothing… besides their sturdy performances within the markets.

So for crypto buyers who can’t determine between canine memecoins and layer-1 blockchain platforms… right here’s a tongue-in-cheek evaluation of their comparative strengths.

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Expertise

Koinos is a foundational, or layer-1, good contract blockchain platform that goals to ship quite a lot of technical improvements. Firstly, it’s designed to be modular — which means that it must be extra simply upgradeable than present blockchains, and will doubtlessly get rid of exhausting forks.

It is usually constructed to be feeless, which the crew claims will assist onboard many extra individuals to blockchain-based decentralized purposes. And it has common language assist, a function that will assist extra builders deploy these purposes with out studying a brand new skillset. It’s at present working within the testnet section.

Shiba Inu has nearly no technical options that distinguish it from different memecoins, and its use-cases are primarily restricted to buying and selling.

Winner: Koinos

Neighborhood

Shiba Inu has over 1.9 million followers on Twitter; a Reddit web page with 425,000 members; and virtually one million energetic wallets. Its followers are among the many busiest in crypto and Cointelegraph can hardly publish an article on social media today and not using a host of SHIB shillers leaping into the feedback. The group is engaged, energetic… actually downright rabid of their enthusiasm for all issues Shiba Inu.

Koinos has exactly 1,500 followers on Twitter on the time of writing, and its Discord channel primarily comprises arcane discussions on microservice structure.

Winner: Shiba Inu (by a mile)

Crew

Koinos is being developed by the core crew that beforehand labored on the STEEM blockchain, and who resigned en masse when that mission was ‘acquired’ by Tron founder Justin Solar.

Shiba Inu’s creator, Ryoshi (which is Japanese for ‘fisherman’) is a pseudonymous developer who insists that he, she, or they don’t seem to be answerable for something. Advertising and marketing seems to be a powerful go well with, nevertheless.

Winner: Koinos

Market Cap / Upside Potential

Koinos has a market cap of simply over $83 million on the time of writing. Its total provide of 99.5 million tokens is already in circulation, all of which had been distributed throughout a ‘honest mining’ interval throughout which anybody with a pc may mine KOIN ERC-20 tokens.

Shiba Inu famously has a complete provide of a quadrillion tokens, of which nearly 550 tillion are in circulation. With a market cap of just about $29 billion, it’s at present the world’s Eleventh-largest cryptocurrency.

Upside potential is difficult to evaluate, however Koinos is searching for to hitch the ranks of layer-1 platforms like Ethereum, Solana, Cardano and Polkadot, 4 of the world’s prime tokens by market cap with a joint worth of just about $750 billion.

If KOIN was to realize simply 1% of Ethereum’s market cap, it might must be value $5.55 billion — in different phrases, it must multiply 6,687x from its present value.

With no pure friends in addition to Dogecoin (sitting one place forward of it at $34 billion in market capitalization) Shiba Inu’s most aspirational rival could be Bitcoin, with a market cap of $1.226 trillion. SHIB is already at over 2.3% of Bitcoin’s worth, which seems to restrict its potential upside. Certainly it could be argued that SHIB has already peaked.

Winner: Koinos (by a mile)

Liquidity

Unrealized features are simply that. With a buying and selling quantity in extra of $1.73 billion during the last 24 hours, SHIB token trades on the world’s prime exchanges — together with Binance, Coinbase, OKEx, Huobi, Bitfinex and KuCoin. It’s enormous. It’s immense. It’s a monster.

KOIN, nevertheless, is just out there through Uniswap on the present time, the place its quantity during the last day is a paltry $283,000.

Winner: Shiba Inu

Enjoyable

Shiba Inu permits holders to amass huge stacks of tokens (tens of millions and tens of millions!) at low value. Its group is enthusiastic and excitable, the memes are superior, and because the ecosystem expands, extra merchandise and tokens (LEASH, BONE) assist drive a sense of inclusion and pleasure.

And let’s face it, the canine’s rattling cute.

Koinos is a severe, considerate, deeply technical blockchain with no cute and cuddly critters in sight. As an infrastructure mission, its core options are solely devoid of Japanese looking canines or certainly canines of any variety. Disgrace on you.

Winner: Shiba Inu

Dangers

Shiba Inu has Elon Musk. When the world’s richest man tweeted that he owned no SHIB, the worth dropped 20% in a day. And Vitalik Buterin was uninterested sufficient to donate the SHIB he was gifted (now value $21 billion) with barely a second thought.

As a memecoin it could actually solely be sustained so long as there’s curiosity. When that focus strikes elsewhere, because it has completed with quite a few virally-driven cryptos and shares this yr, SHIB could discover that it wants so as to add extra chew to its bark.

Koinos could not ship on the crew’s bold targets. Or it could not discover sufficient builders to maintain a wholesome ecosystem. Or the world could merely determine that we now have sufficient layer-1 blockchains proper now, and preserve plowing tens of tens of millions into current tasks like Solana.

Like every layer-1, Koinos will want each developer curiosity and killer dApps to rival the massive gamers within the area. Neither of these is a given.

Winner: None

Remaining Rating: Tie

Whereas Koinos screams seriousness, Shiba Inu yaps enjoyable — and within the strangest of years for buyers, each of those tokens are discovering audiences with whom their worth proposition resonates.

No matter your crypto buying and selling technique — whether or not it’s primarily based on the elemental strengths of a mission’s expertise or the immense energy of its group — Cointelegraph Markets Professional is usually a helpful addition to your investing analysis toolbox.

Replace: This text has been up to date to notice that the circulating provide of SHIB tokens is 550 trillion, not 55 billion as beforehand acknowledged.

Cointelegraph is a writer of economic data, not an funding adviser. We don’t present personalised or individualized funding recommendation. Cryptocurrencies are unstable investments and carry important danger together with the chance of everlasting and whole loss. Previous efficiency is just not indicative of future outcomes. Figures and charts are appropriate on the time of writing or as in any other case specified. Dwell-tested methods should not suggestions. Seek the advice of your monetary advisor earlier than making monetary selections.

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