MicroStrategy Makes Enormous Bitcoin Purchase, Shytoshi Kusama Reveals SHIB Game, ‘Rocket Fuel’ for XRP, ADA Could Be Here, Report Says: Crypto News Digest by U.Today

by

As a researcher with a background in cryptocurrencies and blockchain technology, I find these recent developments quite intriguing. Let me share my perspective on the top three news stories from U.Today that caught my attention over the past day.

U.Today presents you with the top three news stories over the past day.

MicroStrategy’s enormous Bitcoin purchase announced by Michael Saylor: Details

Yesterday, June 20th, I watched as Michael Saylor made a significant announcement on X platform regarding MicroStrategy’s recent Bitcoin acquisition. The company purchased an impressive 11,931 Bitcoins, valued at approximately $786 million with an average price per coin of around $65,883. With this addition, MicroStrategy now holds a grand total of 226,331 Bitcoins, making it the largest corporate Bitcoin holder to date. This substantial purchase was funded through MicroStrategy’s recent debt sale. Prior to this acquisition, the company had successfully completed an $800 million convertible note offering. However, despite its massive scale, this acquisition did not cause significant market turbulence as many investors had already factored in the news after MicroStrategy upsized its debt sale the previous week.

Shiba Inu team lead unveils unexpected SHIB game

Recently in a post for X, Lucie, Shiba Inu’s marketing head, shared insights about an upcoming Shibarium game, quoting Shytoshi Kusama, the project’s lead. When finished, this game will exclusively belong to Shiba Inu’s decentralized team for usage on Shibarium. Subsequently, the mobile edition may be improved by incorporating relevant decentralized features. According to Kusama’s vision, the game aims to benefit SHIB, LEASH, and BONE, which are key tokens in the ecosystem. Moreover, in-app purchases within the game will trigger SHIB and LEASH burns, providing financial incentives for their reduction.

XRP, ADA: Good sign for potential bulls, “rocket fuel” could be here: Report

The Santiment analysis team’s latest report brings positive news to the XRP and ADA communities. According to their findings, these two widely-traded altcoins have experienced significant shorting from traders following recent price surges. This shorting activity can serve as a powerful catalyst for further price growth. Currently, XRP ranks seventh and ADA ranks tenth on CoinMarketCap’s list of top cryptocurrencies by market capitalization, which are $26,886,410,927 and $13,552,171,536 respectively. Their current prices stand at $0.4838 for XRP and $0.3797 for ADA.

Read More

2024-06-21 19:30