BlackRock Issues Major Crypto Warning, Shibarium Hits Long-Awaited Milestone, Cardano Skyrockets 300% in Funds Inflows: Crypto News Digest by U.Today

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As a seasoned researcher with a background in finance and technology, I have seen my fair share of market trends and investment scams. The warning issued by BlackRock regarding crypto investments and potential scams is a reminder of the importance of vigilance and caution in this rapidly evolving space. With the rise of social media platforms and the ease with which information can be disseminated, it’s crucial for investors to verify the authenticity of sources before making any investment decisions. BlackRock’s warning serves as a valuable reminder that there are bad actors out there looking to take advantage of unsuspecting investors.

Here are the top three news stories by U.Today from the past day.

BlackRock issues major crypto warning

Global investment manager BlackRock has issued a warning to the crypto community via X platform about an uptick in investment scams. As detailed in their post, these scams typically involve misleading individuals towards crypto investment websites or social media networks like WhatsApp and Telegram. To stay safe, BlackRock advises market participants to exercise caution when engaging with people, entities, or social media accounts that claim to represent the company for investment purposes or training. Furthermore, it’s important to note that BlackRock does not reach out to anyone via social media platforms.

Shibarium finally hits long-awaited milestone

Shibarium, the layer-2 solution of Shiba Inu, has recently reached a significant milestone – it has processed six million blocks, as indicated by data from the Shibariumscan site. This figure currently stands at 6,038,712. Furthermore, other metrics have also shown expansion in recent times. The total transaction count is now at 417,994,331, while there are 1,811,196 connected wallets. In response to this encouraging development, the price of Shiba Inu’s token increased by 3.22% on Sunday evening, peaking at $0.00001726. However, in the past 24 hours, the meme token has dropped 0.95%, trading at a price of $0.0000166.

Cardano skyrockets 300% in funds inflows as bulls take charge

1. The latest CoinShares weekly digest on digital asset fund inflows indicates that investments in Cardano Exchange-Traded Products (ETPs) surged by approximately $1.2 million last week, marking a staggering 300% increase compared to the preceding week. This week’s performance catapulted Cardano into second place among all cryptocurrency ETPs. Since the onset of 2024, traditional investors have collectively poured $11 million into Cardano-centric investment products. The surge in popularity is attributed to the upcoming Chang hard fork, which, as reported by U.Today, could potentially bring about Cardano’s highest level of decentralization yet, with ADA holders set to vote on managing even the blockchain’s treasury.

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2024-07-30 19:38