SHIB Community Stunned by 144,045% Surge in SHIB Burns, Ripple Breaks Silence on RLUSD Stablecoin Launch, Samson Mow Confirms $1 Million BTC Price Target: Crypto News Digest by U.Today

by

As a seasoned crypto investor with a decade of experience under my belt, I find myself constantly astounded by the dynamic nature of this digital frontier. Over the past 24 hours, three stories have caught my attention more than others.

U.Today has prepared summaries of the top three news stories over the past day.

Mammoth 144,045% SHIB burn jump stuns Shiba Inu community: Details

According to data provided by the Shibburn tracker, Shiba Inu recently saw a significant increase in its burn rate, reaching levels not seen for a long time. On Dec. 4, this metric surged by an astonishing 144,045%, with a total of 2,041,299,351 SHIB tokens shifted to unspendable wallets. This burn rate spike is primarily attributed to a major transfer of 2,020,624,700 SHIB made earlier this week, along with two smaller transactions. Additionally, the total SHIB burned within the last week reached an impressive 4,251,012,135 tokens, reflecting a weekly burn rate increase of 1,990.39%. The SHIB community reacted positively to this news, with many expressing their enthusiasm and optimism regarding the significant reduction in the circulating supply.

Ripple breaks silence on RLUSD stablecoin launch: Details

In a recent update, Ripple has clarified that the anticipated launch of its stablecoin, RLUSD, did not occur on December 4th as some rumors suggested. Instead, they are working closely with the New York Department of Financial Services (NYDFS) to ensure regulatory compliance before the launch. Ripple reassured their commitment to transparency and will share updates once final approval is received from the NYDFS. They also pledged to keep the public informed about the progress in launching this stablecoin under the supervision of the NYDFS, maintaining high regulatory standards.

Bitcoin advocate Samson Mow confirms $1 million BTC price target

Lately, an unprecedented occurrence took place in the cryptocurrency world as the price of Bitcoin exceeded $100,000 – a significant milestone since it was created 15 years ago. This achievement has Bitcoin supporter Samson Mow making a forecast that Bitcoin’s future value might reach $1 million. In his blog post, Mow mentioned he will keep the “laser eyes” symbol (a sign of optimism and Bitcoin’s potential worth in the BTC community) on his profile picture until Bitcoin achieves the $1 million level. The recent halving event in Bitcoin, which has increased scarcity by reducing daily production to approximately 450 coins per day, lends credence to this bold prediction. Demand for Bitcoin is also growing due to ongoing purchases from companies such as MicroStrategy, which recently acquired 15,400 BTC, bringing their total holdings to 402,100 BTC. Other businesses like Metaplanet and Semler Scientific are following suit, indicating that the demand for Bitcoin could potentially surge even more if tech giants such as Microsoft decide to join the market.

Read More

2024-12-06 18:30