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410 Trillion SHIB Burn by Vitalik Buterin Might Be Biggest, XRP Could Skyrocket After Court Decision, BitBoy to Get SHIB Tattoo If This Happens: Crypto News Digest by U.Today

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Tue, 28/03/2023 - 15:51
410 Trillion SHIB Burn by Vitalik Buterin Might Be Biggest, XRP Could Skyrocket After Court Decision, BitBoy to Get SHIB Tattoo If This Happens: Crypto News Digest by U.Today
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U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!

410 trillion shiba Inu (SHIB) burn by Ethereum's Vitalik Buterin might be biggest of all time: details

According to Coinbase director Conor Grogan, among the most expensive crypto-transactions-by-chain, there is one transaction that stands out -  the Ethereum network's $4.4 billion move between Binance wallets on May 7, 2022. Grogan recently shared a list of the most impressive transfers he is aware of, and the abovementioned one took the top spot. The second spot belongs to a $1.94 billion move by Binance to cold storage on Feb. 22, and the third to Tron founder Justin Sun’s huge $1.46 billion transfer to the Huobi exchange in June 2018. However, if we take transactions to burn addresses into consideration, Ethereum co-creator Vitalik Buterin's massive 410 trillion Shiba Inu burn might be the biggest of all time. This even surpasses the $4.4 billion ETH move between Binance wallets previously stated.

XRP price could skyrocket after court decision, John Deaton suggests

In a recent tweet, pro-Ripple lawyer John Deaton stated that in his opinion, XRP has the most attractive risk/reward ratio. He then made a suggestion regarding the fate of XRP’s price from the perspective of two scenarios - Ripple’s victory in the lawsuit and the SEC’s victory. In case the regulator wins, Deaton writes, Ripple could appeal the decision, maintaining the status quo. However, if the San Francisco-based fintech giant wins, it could provide much-needed clarity and pave the way for XRP's future growth. It could also mean that the Ripple-affiliated crypto will not be deemed a security anymore and its price increase could be substantial. The court decision is expected within the next few weeks, possibly even this week, as Judge Torres has not yet reached the six-month mark since the case was last pending.

I'll get Shiba Inu (SHIB) tattoo if this happens: YouTuber "BitBoy Crypto"

Major crypto YouTube blogger Ben "BitBoy Crypto" Armstrong has recently taken to Twitter to share his view on the $1 billion class action lawsuit filed against him and other influencers for allegedly advertising FTX. In a series of tweets, he wrote several big statements, with the first one concerning the SHIB cryptocurrency. According to Armstrong, if he breaks even in the lawsuit by the time of verdict, he will get a tattoo of the Shiba Inu token. In his other statement, the YouTuber claimed that he is considering a countersuit as an investment, writing that he will “make money on it, legal fees plus more.” He also described his mission in the matter as achieving a precedent to protect people who cannot fight frivolous lawsuits. Armstrong added in one of his final statements that he will be fighting "not for himself, but for the entire crypto-influencer industry."

Related

Shiba Inu (SHIB) starts week with massive 1,100% burn rate spike

This week has started on a positive note for the SHIB meme cryptocurrency as its burn rate increased by an impressive 1,100% despite a lackluster price performance. Usually, a higher burn rate could have a positive impact on the token’s price as it reduces the supply. However, this relationship has not been evident in the case of Shiba Inu, as the price performance has remained subdued. Recently, the market watcher noticed a certain trend in Shiba Inu's burn rate, where it spikes toward the end of the trading week and remains stagnant on the weekends. Yet, this week's enormous 1,100% burn rate spike refuted the trend and demonstrated that the Shiba Inu community is still actively burning tokens.

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