Michael Saylor Shares Crucial BTC Advice, Shiba Inu Burn Rate Surges 12,842%, Cardano Spikes 162% in Trading Volume: Crypto News Digest by U.Today

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As a seasoned crypto investor with a few years under my belt, I’ve learned that staying informed about the latest developments in the industry is crucial for success. That’s why I make it a point to read U.Today’s top three news stories every day. Today’s headlines are particularly intriguing.

Take a look at what’s happening in the world of crypto by reading U.Today’s top three news stories.

Michael Saylor offers critical piece of advice as BTC price struggles

Bitcoin fans in Prague were given valuable insights about the digital currency from Michael Saylor, the former CEO of MicroStrategy, during his speech at the BTC Prague conference. His topic was “The 21 Rules of Bitcoin,” and among other key messages, he emphasized the importance of continuous learning about Bitcoin and its universality. According to Saylor, those who own Bitcoin should never consider selling it. He explained, “Your Bitcoin is not something you sell. Think of Bitcoin as energy or life. Don’t waste your existence. Keep the flame burning…Don’t let go of that which keeps your family warm. Don’t jump off a cliff.”

SHIB skyrockets 12,842% in burn rate with unexpected price pivot

Based on recent information from Shibburn, the Shiba Inu token burn rate experienced a substantial rise in the last 24 hours. Approximately 12,047,795 SHIB were moved to dead-end wallets by the community, with three significant transactions involving 5,072,279, 5,078,720, and 1,000,000 tokens. Consequently, the burn rate surged by a substantial 12,842.37%. This increase in burn rate took place even though the SHIB price had dropped significantly since Monday morning. However, at the current moment, the meme token has regained some ground and is trading at $0.00001813 on CoinMarketCap, representing a 2.86% increase over the past day.

Cardano (ADA) soars 162% despite $435 million market downturn

Yesterday, the trading volume of Cardano witnessed a significant surge of 162%, amounting to $574.9 million, according to data from CoinMarketCap. This marked increase is noteworthy given the overall market downturn that resulted in crypto liquidations worth $435 million. There are several potential explanations for this spike in Cardano’s trading volume. One possibility is investor positioning, as heightened volatility can lead to increased buying and selling activity among traders. Additionally, recent reports suggest that institutional investors have shown interest in Cardano, which could be another contributing factor. Currently, the price of ADA stands at $0.384, representing a 3.18% growth over the last 24 hours based on CoinMarketCap’s data.

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2024-06-19 19:54