XRP Skyrockets, Justin Sun Eyes TikTok, Shiba Inu Shocks Binance: Crypto Roundup

by

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

XRP surges to multi-year peak following major SEC news

Based on a recent Reuters report, there are indications that the SEC could pause ongoing non-fraud cryptocurrency court cases, with some possibly being dismissed. This move is expected following the departure of SEC Chair Gary Gensler, which will occur next week. In his absence, the new Republican majority, led by commissioners Mark Uyeda and Hester Peirce, intends to streamline crypto regulations, particularly in defining which tokens can be classified as securities. This development has led to a surge in the price of XRP, reaching a high not seen for years at $2.97, with Bitcoin nearing the $100,000 mark. Currently, XRP is further rallying, trading at $3.35, an increase of 17.65% over the last day, according to CoinMarketCap. It’s yet unclear if the ongoing appeals process against Ripple will be suspended as the SEC prepares its opening brief for this case.

“I could just offer to acquire TikTok”: Tron founder Justin Sun

Justin Sun, the creator of Tron and a well-known figure in the crypto world, suggested on the X platform that he could match Elon Musk’s influence by possibly acquiring TikTok. This suggestion follows news that Chinese authorities might sell TikTok’s U.S. operations to Musk, who already owns X. In response to a post from user @DaoKwonDo, who wondered why no one from the crypto world hasn’t tried to buy TikTok yet, Sun commented: “I could propose buying TikTok, and that would settle everything.” Meanwhile, investor Anthony Pompliano mentioned that TikTok may need to shut down its U.S. apps unless the Supreme Court steps in. At present, the court is reviewing a law that requires TikTok’s Chinese parent company, ByteDance, to either sell its American branch or risk being banned in the United States.

2,816,572,700,000 Shiba Inu stun largest crypto exchange in 24 hours

Yesterday saw a substantial jump in transactions for Shiba Inu on Binance, with approximately 2.8 trillion tokens (2,816,572,700,000 SHIB) exchanged within a day. This increase is primarily attributed to large traders, although the reasons behind their actions remain uncertain. The high transaction volume suggests that these traders may be either capitalizing on market trends or preparing for trading or staking activities. However, despite this activity, SHIB has failed to breach critical resistance levels; at the time of writing, it’s being traded at $0.00002197, marking a 0.54% decrease over the past 24 hours according to CoinMarketCap. Market analysts recommend that the Shiba Inu ecosystem should adopt additional strategies to push up the token’s price, as the current burn activities have not significantly increased SHIB’s value to the levels expected by investors.

Read More

2025-01-16 19:55