Shiba Inu Burn Rate Skyrockets 545%, 52 Million XRP Shifted in 13 Hours, Toncoin Surges 170% in Volume: Crypto News Digest by U.Today

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As a seasoned financial analyst with extensive experience in the cryptocurrency market, I have closely monitored the recent developments and trends within the top three news stories presented by U.Today.

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

SHIB burns skyrocket 545% as two anon whales scorch millions of coins

Based on Shibburn’s data, there was a substantial increase in Shiba Inu token burns between July 21 and July 22. This surge resulted from four transactions carried out by two unidentified SHIB holders, who incinerated a total of 10,359,000 SHIB tokens. The first whale destroyed two large amounts of SHIB tokens, with 4,559,000 and 3,000,000 tokens burned respectively. Meanwhile, the second anonymous whale also burned identical quantities of 1,400,000 SHIB tokens in each transaction. Consequently, the burn rate metric experienced a dramatic increase of approximately 545%. At present, Shiba Inu is trading at $0.00001729 on CoinMarketCap, marking a 1.54% decrease over the previous 24 hours.

52 million XRP in 13 hours – What’s going on?

Recently, Whale Alert cryptocurrency tracker identified two significant XRP transactions separated by a 13-hour interval. These transactions involved the transfer of 23,656,185 XRP worth around $30 million and another transaction carrying 28,110,000 XRP or approximately $30 million. The first XRP amount was taken out from Binance and moved to an unidentified blockchain wallet. In contrast, the second transfer went to Bitstamp, originating from a Ripple-linked wallet. It is essential to note that Bitstamp is just one of several crypto exchanges collaborating with Ripple’s “Ripple Payments,” a global payment platform. According to Bithomp data, Binance’s internal transaction moved funds between two of their wallets. Meanwhile, the second transaction from a Ripple-related wallet to Bitstamp was initiated.

Toncoin (TON) surges 170% in volume, What’s going on?

On July 22, CoinGlass documented a significant increase of 170.12% in Toncoin’s trading volume. The escalation was triggered by the TON Foundation’s recent announcement, disclosed on X on July 17, about the upcoming launch of TON Teleport BTC later in the year. This initiative aims to ensure seamless and safe transfers between Bitcoin and The Open Network. According to the TON team’s statement, “this groundbreaking mechanism will augment Bitcoin’s functionality, converting it into an effective instrument for yielding additional benefits on TON.” However, despite this significant announcement, the TON token’s price has remained unchanged; it is currently priced at $6.89, representing a 0.89% decrease over the past 24 hours.

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2024-07-23 19:22