U.Today’s news digest helps you stay tuned to the most recent events in the crypto world
Check out the top four news stories over the past day presented to you by U.Today.
Shiba Inu (SHIB) team introduces basic concepts of Shibarium
Yesterday, the team behind the Shiba Inu project published a blog post, introducing the underlying concepts of Shibarium, the long-awaited Layer 2 blockchain. According to the post, Shibarium will provide its users with various opportunities, particularly in terms of services like NFT adoption and transaction fees. The responsibility for providing scalability and security will be shared between those who deploy nodes and delegators, people who set up token staking contracts. Last but not least, users will be able to access Shibarium’s test tokens through private test network portals.
Former SEC official names key reason behind Bitcoin’s recent recovery
With Bitcoin reclaiming the $21,000 level to the great delight of its holders, many market participants suggested theories about potential reasons for the king crypto’s growth. Among them was John Reed Stark, a former SEC official, who believes that the key driver for Bitcoin’s resurgence is market manipulation. He cited a Forbes analysis of 157 crypto exchanges, which found that 51% of the reported Bitcoin daily trading volume was likely bogus.
Shiba Inu (SHIB) bag of David Gokhshtein growing rapidly now: potential reasons
In a recent tweet, David Gokhshtein, founder of Gokhshtein Media and former U.S. congressional candidate, shared that he has been actively buying SHIB tokens recently and asked his followers if they were doing the same. The post gained a lot of attention from the SHIB community, with many of its members replying positively in the comments. The influencer might have started “loading up on SHIB” following a few important recent events for Shiba Inu. First, the token removed a zero from its price; second, the upcoming launch of Shibarium and third, the announcement about SHIB Metaverse kicking off this year.
Close to half billion XRP wired by Binance and whales
Yesterday, Whale Alert spotted six large transactions, carrying almost 430 million XRP coins. According to the crypto tracker’s data, the largest lumps of Ripple-linked crypto comprised 210 million and 94.3 million XRP. The latter sum was transferred by the Binance crypto exchange. A total of 209,000,000 XRP was shifted between two anonymous addresses. However, per Bithomp analytics platform, this sum was also sent by Binance as an internal transfer. The rest of the aforementioned XRP sum was moved from wallets linked to Bittrex crypto exchange to Bitstamp.