U.Today’s news digest helps you stay tuned with the latest happenings in the crypto world
Check out the top four news stories from the past day brought to you by U.Today.
The Shiba Inu (SHIB) Team introduces the basic concepts of the Shibarium
Yesterday, the team behind the Shiba Inu project has released a blog post, showcasing the concepts behind Shibarium, the long-awaited layer 2 blockchain. According to the post, Shibarium will provide its users with various opportunities, especially in terms of services such as NFT adoption and transaction fees. The responsibility for providing scalability and security will be shared between those who deploy the nodes and the delegators, the people who set up token staking contracts. Finally, users will be able to access Shibarium test tokens through private testnet portals.
Former SEC Official Names Main Reason for Bitcoin’s Recent Recovery
With Bitcoin reclaiming the $21,000 level much to the delight of its holders, many market participants have been suggesting theories on the potential reasons for the rise of the crypto king. Among them was John Reed Stark, a former SEC official, who believes that the main driver of Bitcoin’s resurgence is market manipulation. He cited a Forbes analysis of 157 crypto exchanges, which found that 51% of reported daily Bitcoin trading volume was likely fake.
David Gokhshtein’s Shiba Inu (SHIB) Bag Is Growing Rapidly Now: Potential Reasons
In a recent tweet, David Gokhshtein, founder of Gokhshtein Media and former candidate for the US Congress, said that he recently actively purchased SHIB tokens and asked his followers if they were doing the same. The post got a lot of attention from the SHIB community, with many of its members responding positively in the comments. The influencer may have started “stocking up on SHIB” following some recent significant events for Shiba Inu. First, the token removed a zero from its price; secondly, the upcoming launch of shibarium and third, the announcement about the Metaverse SHIB starting this year.
Nearly half a billion XRP wired by Binance and whales
Yesterday, Whale Alert spotted six large trades, carrying nearly 430 million XRP coins. According to data from the crypto tracker, the largest blocks of crypto linked to Ripple included 210 million and 94.3 million XRP. This last sum was transferred by the Binance crypto exchange. A total of 209,000,000 XRP was transferred between two anonymous addresses. However, according to analytics platform Bithomp, this sum was also sent by Binance as an internal transfer. The remainder of the aforementioned XRP sum has been moved from wallets linked to crypto exchange Bittrex to Bitstamp.