U.Today’s crypto news digest will not let you miss any of the industry’s most important events!
U.Today presents you with the top three news stories over the past day.
Shytoshi Kusama made just one mistake with Shibarium: Top SHIB team member
Lucie, Shiba Inu ecosystem official and one of the best-known SHIB enthusiasts, has recently taken to social media to share her stance on the launch of Shibarium. In her post, Lucie wrote that her stashes of BONE, SHIB and LEASH tokens lost value significantly, along with the whole crypto market. She seemingly admitted that the drop of SHIB and other trifecta tokens was partly caused by Shubarium’s unsuccessful release. However, the SHIB official maintains bullish sentiment and says that she is not “unhappy” with Shytoshi Kusama, the project’s lead, as he and his team kept their promises. According to Lucie, the only mistake they made is that they underestimated the number of users that would want to join the newly launched Shibarium blockchain.
XRP whales accumulating billions of tokens as XRP price surges green
According to data provided by Santiment, yesterday, the price of XRP saw a 4% spike, to the great delight of its holders. The growth in the token’s value has been attributed to the efforts of its large holders, also known as whales, with 221 addresses owning from 10 million to 1 billion XRP being key players in this narrative. At the moment, these whales hold a combined 16.13 billion tokens worth $8.71 billion. On Aug. 18, another group of whales holding from 100 million to 1 billion XRP witnessed an influx of 1.01 billion tokens, which propelled their cumulative holdings to 11.03 billion XRP. The token’s minor price increase and these accumulating trends are clearly correlated. Despite the modestness of the price growth, which was hovering around $0.43 per XRP, significant investor curiosity was undoubtedly piqued.
Shiba Inu (SHIB) sheds 100 million tokens in fiery furnace
After the launch of the Shibarium Layer 2 protocol failed to meet the community’s expectations, SHIB meme coin is using all of the strategies it can find to regain most of the value it has lost over the past week. One of these strategies is well known to all SHIB supporters, token burning. Per Shibburn data, yesterday, 106 million SHIB tokens were sent to dead-end wallets. At the moment of writing, SHIB is changing hands at $0.000007903, down 2.35% over the past 24 hours. This shows that the burnt tokens are starting to affect the price recovery. In the previous week, the token’s losses dropped to 19%, demonstrating the success of its recovery efforts.
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