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Crypto News Digest by U.Today
Valeria Blokhina
Check out what U.Today has prepared for you in its latest cryptocurrency news roundup!
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Here are the three main news stories of the past day presented by U.Today.
Shytoshi Kusama Blasts SHIB Army With Bullish Shibarium Announcement
As announced by Shiba Inu’s official X handle on May 15, the decentralized exchange ShibaSwap has finally gone live on layer 2 Shibarium solution. In short row, the SHIB team shared details of ShibaSwap’s new features, how to operate on both Ethereum and Shibarium blockchains, and the creation of new liquidity pools on Shibarium. After the announcement, Shiba Inu leads Shytoshi Kusama cited the SHIB Concluding her post on Dhariya, in turn, commented on Shiba Inu’s post, adding that the SHIB team will continue to release updates and improvements on a regular basis as Shiba Inu’s journey is “not a race, it’s a marathon.”
XRP has made a strong comeback
In a recent development, XRP has achieved a significant recovery, returning to the previously invalidated descending triangle model. While this technical formation often indicates bearish trends, the fact that XRP has returned to this pattern implies that XRP bulls may soon try to redefine the asset’s current trajectory. For the first time in weeks, XRP’s purchasing power saw an increase. This increase has caused the price to move towards several important moving averages, such as the 50, 100 and 200 EMAs. These moving averages act as important resistance levels and a break of them can portend a change in direction towards a more bullish trend . But even with this recent increase in bullish momentum, XRP is still trending down. The price action is still struggling below the descending triangle resistance line, indicating ongoing bearish pressure. All moving averages are trending lower, suggesting that most investors are more bearish than bullish. At the time of writing, XRP is trading at $0.5254, up 1.59% over the past 24 hours, according to CoinMarketCap.
3 trillion SHIBs mysteriously sent to Robinhood during a 12.2% price surge.
The data provided by the crypto tracker Whale Alert proves this YesterdayOn May 16, an astonishing amount of Shiba Inu tokens, 3,000,000,000,000 SHIB, worth $75 million, was transferred to Robinhood by an anonymous whale. The transaction occurred as SHIB showed 12% growth in its value over the course of 24 hours; Meme crypto is said to have surged upon news of the launch of ShibaSwap on Shibarium, the development the SHIB community has been eagerly awaiting. The aforementioned transaction also underlined the increased whale activity observed over the course of this week. On May 15, Cumberland, a large cryptocurrency trading firm, transferred 144 billion SHIB worth $3.3 million to Coinbase. Previously, 50.36 billion Shiba Inu were deposited on OKX. In total, this week, prior to the previously mentioned three trillion SHIB movement, awakened SHIB whales transacted approximately 1.5 trillion Shiba Inu in a single day. They mostly transferred between 42.6 and 397 billion SHIB to major cryptocurrency trading platforms Binance, Coinbase, Gate.io and others. At the time of writing, SHIB is trading at $0.00002501, up 2.83%.
About the author
Valeria Blokhina
Valeria is the community manager of U.Today. She is a cryptocurrency enthusiast and believes that cryptocurrency is the future of finance. Valeria currently covers the latest news in the world of cryptocurrencies and blockchain.