As a seasoned analyst with over two decades of experience in the financial markets under my belt, I find myself intrigued by the latest developments in the cryptocurrency realm. The past day has been particularly eventful, with three notable stories that have piqued my interest.
U.Today presents the top three news stories over the past day.
SHI stablecoin may be launched soon, SHIB team hints, sharing crucial details
On September 26th, Lucie, who’s leading marketing for the Shiba Inu project, shared a post focusing on the SHI stablecoin. She highlighted its role and significance within the Shibarium ecosystem. To begin with, she reiterated that SHI is still under development and not yet available to the public. Originally presented by SHIB‘s creator Ryoshi in 2021, SHI is intended to operate as a stable and decentralized currency. The plan was to set its value at $0.01, but the method for achieving this remains undecided. Lucie underscored that SHI will boost liquidity, motivate user interaction on Shibarium, and serve as a fundamental asset in DeFi applications. In essence, SHI is anticipated to help regulate transactions and attract new users by mitigating risks caused by crypto market volatility. Regarding the launch of this much-awaited stablecoin, Lucie mentioned that the Shiba Inu ecosystem intends to incorporate SHI only when the infrastructure is fully ready, ensuring both stability and utility in decentralized finance.
Ripple cofounder’s alleged 30 million XRP Coinbase move worries XRP community
On an unexpected turn of events, Chris Larsen’s wallet, one of Ripple’s co-founders, became active after a 11-year hiatus on September 20, shifting 50 million XRP, equivalent to over $29 million, to an unidentified wallet. As the transfer unfolded, XRP supporters began tracking Larsen’s funds and discovered that they were subsequently moved to Binance, fueling conjecture about their application in Ripple’s On-Demand Liquidity (ODL) service. However, it was later revealed that the rationale behind these transfers differed; some of the XRP was directed to other exchanges such as Bittrex and Coinbase, with 30 million XRP being sent yesterday. The community is now debating Larsen’s motives, wondering if he intends to sell the XRP or if it will be employed for ODL purposes, while some have even hypothesized a potential hack. Despite the mounting apprehensions, Larsen has remained silent on the matter.
Another Satoshi-era wallet gets activated
Over the past few days, there’s been a notable spike in the revival of old Bitcoin wallets. Yesterday, a wallet that had been inactive for over 13 years woke up and held approximately $1.8 million worth of Bitcoin. Similarly, on September 24th, an early Bitcoin address containing 24 BTC resurfaced, while on September 22nd, transactions involving some of the earliest mined Bitcoins occurred for the first time in over 15 years. However, it appears that these coins are not associated with Bitcoin’s creator, Satoshi Nakamoto, according to on-chain analysis. The Bitcoin community is abuzz with speculation about the cause of this increased activity, with suggestions ranging from possible hacks to users finally recovering their passwords.
Read More
- BTC PREDICTION. BTC cryptocurrency
- USD ZAR PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- EUR ILS PREDICTION
- CKB PREDICTION. CKB cryptocurrency
- TROY PREDICTION. TROY cryptocurrency
- LOVELY PREDICTION. LOVELY cryptocurrency
- PRIME PREDICTION. PRIME cryptocurrency
- TAO PREDICTION. TAO cryptocurrency
2024-09-27 19:27