Ethereum
Crypto News Digest by U.Today
Valeria Blokhina
Find out the latest industry happenings in U.Today’s news roundup!
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U.Today presents the three main news of the past day.
SHIB Burns Skyrocket 2,076% After Recent SHIB Announcement
Yesterday, as the Shibburn website reports, the Shiba Inu community has managed to significantly increase the burn rate of SHIB. Through joint efforts, SHIB enthusiasts sent a large portion of SHIB, which constitutes 40,067,872 SHIB meme coins, to hell. Although the amount of tokens burned is not exceptional, it increased the burn rate by 2,076%. The largest fire incinerated 20,000,000 SHIBs, while the second largest destroyed 1,693,629 SHIBs. The increase in burn rate occurred after Shiba Inu marketing manager Lucie, teased upcoming developments for Shibarium in 2024-2025. The list included ShibaSwap (version 1.75, followed by 2.0), Shibahub, Treat, ShibaEternity P2E, SHIB the Metaverse, K9finance Liquid Staking and Layer-3 testnet.
Sharp XRP Reversal: 3 Price Levels to Watch
XRP recently saw a sharp rejection at the 200 EMA resistance level. Following an attempt to maintain stability, XRP had a sudden reversal of the moving average, indicating a potentially problematic period for the asset. Currently, XRP is trading at $0.52, a strong support level; In the past, almost every time the token’s price fell to this level, it bounced back. The second price level to watch is $0.47, a longer-term support level. A price drop below this level would pose serious problems for XRP and could signal a deeper and more lasting market downturn. The third, but fragile, price support lies at $0.41 and is considered the last line of defense. If XRP falls to this level, it could lead to a prolonged reversal, which traders hope XRP can avoid. In order to see growth, if XRP is able to hold above these crucial support levels and start moving higher, it will first need to reclaim its position above the 200 EMA.
Nearly $500 million in Ethereum transferred to wallet linked to Justin Sun
According to a recent article X from Lookonchain, yesterday, 0x4359, a wallet allegedly linked to TRON founder Justin Sun, withdrew 7,128 ETH worth $22.34 million from the Binance exchange. Additionally, Lookonchain revealed that since April 8, the wallet in question has acquired 154,570 ETH, valued at $492.23 million, at an average price of $3,177. This significant movement in Ethereum not only drew attention to Sun’s trading activities, but also highlighted the bullish sentiment of ETH whales towards the asset. Despite Ethereum’s recent poor market performance, with the price at $3,116 down 1.05% in the last 24 hours, whales like Sun continue to show confidence in the long-term potential cryptocurrency.
About the Author
Valeria Blokhina
Valeria is the Community Manager at U.Today. She is passionate about crypto and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news from the world of crypto and blockchain.