Traders Let Shiba Inu Battle DOGE And Reddit Becomes An NFT Marketplace

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As Bitcoin saw a (predicted) corrective move to $59k and the whole crypto market saw profit taking, Shiba Inu continued its climb and was able to flippen Doge in the CoinMarketCap charts overnight. At the time of writing, Dogecoin came roaring back though as Shiba sees profit taking and traders prefer Dogecoin instead.

Furthermore, the sudden drop of several altcoins should cause some in the classic media to come up with titles like crypto crash or something,

$SHIB’s funding now paying longs 670% annualized. Traders hate the dog here. The masses love it. pic.twitter.com/bXVg74Xegd

— Alex Krüger (@krugermacro) October 28, 2021

Silicon Valley companies have by now accepted that there’s no turning around anymore when it comes to crypto expansion. One of the latest examples is a job posting for a position at Reddit. The message board is looking for a ‘Senior Backend Engineer’ for their upcoming NFT Platform.

NFT buy and sell

Reddit is a well-known community platform in the cryptosphere. Indeed, this has notably made it possible to federate the crypto community around sub-reddit on themes, such as Bitcoin (BTC) or Ethereum. Now, Reddit seems to want to take cryptocurrency adoption a step further by developing its own NFT buy and sell platform (just like Opensea does, which we reported on earlier this year).

At least that’s what a job posting published by the community platform indicates. Indeed, Reddit would be looking for a “Senior Backend Engineer” to develop a platform for the creation, purchase and sale of NFTs.

For Reddit, cryptocurrencies are on the way to “revolutionize the world of economics and finance”, NFTs, meanwhile, are intended to “rewrite the way we think about digital goods”. Therefore, Reddit wants to integrate them more widely into its community platform. Looks good we believe.