Key SHIB Metric Frozen in Past Few Days, Cardano Might Flip TRX and DOGE If This Happens, Ripple Taps Coinbase for Upcoming Major Event: Crypto News Digest by U.Today

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As a seasoned researcher who has witnessed the rollercoaster ride of the crypto market for years, I find myself intrigued by these latest developments. The freeze in Shiba Inu burns has sparked curiosity, given my past experiences with similar situations that eventually led to significant updates or integrations within the project. It’s interesting to see history repeating itself, although it remains to be seen what the SHIB team has up their sleeves this time around.

Here are the top three news stories over the past day presented to you by U.Today.

Key SHIB metric frozen in past few days — what’s happening?

For several days now, the rate at which Shiba Inu tokens are being burned, a crucial aspect of this meme coin, has either decreased or remained at zero. This indicates that no SHIB tokens were moved to wallets with no exit points during these days. According to Etherscan data from yesterday, the last burn transaction, which eliminated 1,703,894 SHIB, happened five days earlier. However, Shibburn data from the same day states that the most recent burn transfer occurred two days ago, annihilating less than 100,000 SHIB. Shibburn reported a significant increase in the burn rate of 1,088%, but this rise has been frozen since two days ago, with the daily burn rate equaling zero. None of the members from the Shiba Inu team have addressed this freeze in token burning yet. It’s important to note that similar situations have occurred a few times this year, and the explanation given then was that the SHIB development team was focusing on multiple updates and integrations. As reported today by U.Today, the burning of SHIB tokens has resumed once more.

Cardano (ADA) might flip TRX and DOGE if this happens

Over the past few days, Cardano (ADA) has been in and out of the top 10 cryptocurrencies list, struggling in a continuous battle for staying among the assets with the largest market cap. Specifically, it was surpassed by TRON (TRX) as a result of the success of its meme coin launchpad, SunPump, which increased investor interest in the asset. Yesterday, Cardano managed to reclaim its 10th place, but was dropped back to 11th position today. However, analysts are still hopeful that a sustained flip might happen soon. Per recent data, Cardano is trading up 3.03% over the past 24 hours at $0.3817, with a market capitalization of $13,725,523,310. If the price of ADA continues to grow steadily, it will not take long for it to overtake TRON. The same principle goes for ADA’s next competitor, DOGE. Additionally, analysts believe that Cardano’s highly anticipated Chang hard fork launch could help ADA in this “race,” as such a major milestone could push the asset’s price to new highs.

Ripple taps Coinbase, industry heavyweight, for upcoming major event

As autumn draws near, ushering in a flurry of significant crypto events, Ripple has unveiled an impressive speaker roster for its upcoming Ripple Swell 2024 event, scheduled for October 15-16, 2024, in Miami, Florida. This year’s event promises to showcase some of the most influential figures in the industry. Leading the charge for Ripple Swell 2024 is Ripple’s CEO Brad Garlinghouse, who has been instrumental in spearheading Ripple’s mission to transform cross-border payments through blockchain technology. Philip Martin, the chief security officer of Coinbase, is also slated to address the audience at Ripple’s event. Other confirmed speakers for the event include Adrienne Harris, Superintendent at the New York Department of Financial Services (NYDFS); Francisco Maroto, Global Head of Blockchain and Digital Assets at BBVA; and Tim McCourt, Senior Managing Director, Global Head of Equities, FX, and Alternative Products at CME Group.

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2024-08-24 12:22