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U.Today Crypto News Digest
Valeria Blokhina
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Binance CEO Faces SHIB Army’s Plea to Start Burning SHIB, Here’s Why
Binance CEO Richard Teng’s recent X-post about Bitcoin ETFs and the high general interest in BTC has suddenly attracted attention of the SHIB army. However, SHIB enthusiasts took to the comments section of the post not to express opinions on the topic of Bitcoin; instead, they asked Binance boss if the exchange could start burning Shiba Inu tokens, like it does with LUNC tokens using proceeds from trading fees. As a reminder, Binance has been helping to burn LUNC since 2022 in an effort to revive the Terra Luna Classic (LUNC) project after the crash it faced that year. The SHIB community’s plea has not gone unnoticed by Shibburn’s official X handle; the team behind it labeled Binance, writing, “Imagine Binance burning through SHIB trading fees just like it does for LUNC. Could that happen?”
Bitcoin Miners Are Falling, But There’s a Silver Lining
CryptoQuant founder and CEO Ki Young Ju recently adopted the X platform with a declaration as for Bitcoin miners; according to Ju, their capitulation It is still in progress. The term “mining capitulation” refers to a period in which miners are forced to sell their Bitcoin due to falling prices and fees. In his post X, the CEO cited historical data showing that such capitulation ends when “the average daily value mined is 40% of the annual average.” However, it is currently at 72%. According to Ju, market participants should expect “boring” cryptocurrency markets for the next two to three months. The CEO also recommended that investors “remain bullish for the long term,” while avoiding excessive risk.
Legendary Bitcoin Trader John Bollinger Shares Crucial Portfolio Advice
John Bollinger recently provided important investment and portfolio management tips on his X page. The famous technical analyst and inventor of the Bollinger Bands indicator advised that investors not include “cruft” assets in their portfolios, stating that doing so would ensure effective management of the remaining investments. Given the saturation of the market with various financial instruments (and cryptocurrencies in particular), Bollinger’s advice is particularly relevant; there are currently over 2.4 million different crypto assets, with a total market capitalization of $2.14 trillion. So, considering the fact that this huge number of cryptocurrencies can overwhelm investors, Bollinger’s recommendations on portfolio optimization could come in handy.
About the author
Valeria Blokhina
Valeria is the community manager of U.Today. She is a cryptocurrency enthusiast and believes that cryptocurrencies are the future of finance. Valeria currently covers the latest news in the world of cryptocurrencies and blockchain.