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Here are the top three news stories by U.Today from the past day.
123% liquidation imbalance stuns Dogecoin short sellers
Over the previous 24 hours, Dogecoin traders faced significant liquidations amid the meme coin's price volatility. According to CoinGlass data, $3.61 million worth of DOGE was wiped out. Additionally, a massive 123% liquidation imbalance was spotted; long position traders lost a total of $2.89 million as DOGE dropped from $0.180 to a low of $0.1746 after failing to hold key support levels. Meanwhile, short position traders on DOGE lost less than a million dollars of investment, totaling $720,160. At press time, DOGE is trading down 5.36% over the past 24 hours, at $0.1698, with trading volume seeing a slight increase by less than 1% to $1.05 billion. Despite this, the sentiment within the ecosystem remains bullish, fueled by the recent activities of DOGE whales, whose transactions surged by over 500%. The surge indicates that large investors anticipate a further rise in price.
Shibarium scores major adoption breakthrough
Shibarium, Shiba Inu's layer-2 scaling solution, has recently reached a new milestone regarding total address count. Data from Shibariumscan shows that this metric has crossed the 200 million mark, and there are now 200,436,691 registered addresses on Shibrium's network. This is not the first milestone reached by the layer-2 solution this year; back in March, it recorded a major one billion transaction milestone. This rapid adoption highlights the increasing activity and engagement within the Shibarium ecosystem. The SHIB team continues to innovate, recently launching the SHIB App Store to support developers and encourage new projects. These developments are enhancing the user experience and signaling strong future growth for the platform.
Binance to retire existing deposit addresses for IOTA, here's reason
Yesterday, April 29, Binance.US, the American arm of major crypto exchange Binance, took to X platform to make an important update. In the update, Binance.US announced that it will retire existing deposit addresses for IOTA. This measure is taken ahead of the upcoming IOTA mainnet upgrade scheduled for May 5, 2025, 3:00 a.m. EDT. To prepare for the upgrade, the exchange will retire existing deposit addresses for IOTA a few days before, on May 2, 2025, at 11:00 p.m. EDT. To avoid the permanent loss of funds, users are urged to complete all IOTA deposits before this date. After the upgrade, new deposit addresses will be issued within a week. The IOTA Rebased upgrade marks a major transition from the Stardust architecture to a new network secured by 13 validators. While trading will continue without interruption, users should expect temporary pauses in deposits and withdrawals during the upgrade process.
Vladislav Sopov
Dan Burgin