U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!
Lead Shiba Inu (SHIB) developer unveils plans for revolutionary Shibarium platform
Shiba Inu’s lead developer, Shytoshi Kusama, has updated his Shibarium blog with yet another post, this time telling his followers about his journey developing the platform and the difficulties he encountered along the way. In the post, Kusama discussed Shiba Inu’s many projects, such as The Metaverse, SHIB Eternity, collaboration with fashion designer John Richmond and a partnership with the Welly fast food restaurant. However, “the goal of 2022” was Shibarium, writes the developer, adding that he was focused on understanding how to make the project different and viable for the common ecosystem and not just scammy projects. Besides, Kusama expressed his gratitude to the project team and community members, who have put so much effort into making the project a success.
Ripple v. SEC: judge says SEC lawyers care only about victory, not allegiance to law
In a recent tweet, pro-crypto lawyer John Deaton pointed out the “hypocrisy” of the U.S. Securities and Exchange Commission in the context of its legal suit against Ripple Labs. Deaton referred to a quote by the federal judge Sarah Netburn, in which she criticized the regulator’s approach to proving that Ripple has been selling XRP tokens as unregistered securities. The “hypocrisy” of the SEC, said the judge, is expressed through the fact that on the one hand, the agency states that Hinman’s speech is not relevant to the market’s understanding of the SEC’s regulation of the crypto space. On the other hand, however, before delivering his speech on crypto assets, Hinman obtained legal advice from the SEC.
Shiba Inu fast food restaurant Welly might be eyeing Tokyo expansion
According to a recent announcement by Welly, a Shiba Inu-themed burger joint, its core team is going to visit Tokyo. The team will be staying in Japan’s capital for seven days, from Feb. 24 to March 3, and invited all “Welly friends” in the area to plan a meet-up. It was not explicitly stated why the project’s representatives are traveling to Tokyo. However, judging from Welly’s statement at the start of the year about stores and franchising being top priorities, one could suggest that the purpose of Welly’s visit to Japan might be with an eye toward expanding its business there.
XRP trading volume skyrockets by 111% as rare chart pattern emerges
Yesterday, XRP trading volume saw a 111% spike as traders considered a potential trend reversal, while XRP seemed to be showing oversold conditions. In the meantime, a Twitter user who goes by “Mr. Huber” (@Leerzeit) has shared a screenshot of XRP/Total of Crypto weekly chart, noting that XRP closed its 12th red candle in a row, which was last seen in March 2015. The chart also showed a triangle pattern, which involves the price moving into a tighter and tighter range over time and demonstrates a battle between bulls and bears until one side surrenders and a breakout occurs. At the moment of writing, XRP is changing hands at $0.3895, down almost 4% over the past day.
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