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Take a look at what happened in the crypto industry over the weekend with U.Today’s top three news stories.
Bitwise CIO names key reason behind XRP's success
Bitwise CIO Matt Hougan has recently taken to X platform to share the most important takeaways from the XRP Las Vegas event that took place last weekend. In Hougan's opinion, the XRP world is now embracing the idea that XRP and Bitcoin serve different markets. The CIO added that one of the most remarkable aspects of the event was the strength of the XRP community. According to Hougan, "the big piece of success" in crypto is how strong the community behind the asset is, confirming that this is indeed the case for XRP. Previously, Bitwise projected that the price of Ripple-affiliated token could surge to nearly $30 by the end of the decade if it manages to gain a substantial footing in such sectors as payments and tokenization.
30,490,000,000,000 SHIB activated amid $687 million market sell-off
On Saturday, May 31, Shiba Inu experienced a notable decline, plunging over 5% in the past 24 hours amid a broader crypto market sell-off. SHIB has been on a downward trend since May 28; during Friday's session, the meme token fell sharply below the daily SMA 50 at $0.00001378 for the first time in weeks, specifically since April 22. If the price stays below this level, it may fall to around $0.00001, but a bounce from current levels might lead to short-term range trading. Meanwhile, the overall crypto market saw nearly $700 million in liquidations, with 89% of them, or $600 million, in long positions, suggesting that traders are heavily bullish but possibly overreacting. According to IntoTheBlock data, 30.49 trillion SHIB tokens are held by approximately 64,000 addresses within the $0.000012 to $0.000013 range, indicating strong support nearby. As SHIB trades within this zone, traders are watching whether it will find support or break lower, with key resistance levels at $0.000014 and $0.000019, where 577.47 trillion SHIB were previously bought.
It will be exponentially harder to buy Bitcoin: Michael Saylor
In a recent article, CNBC covered Strategy founder Michael Saylor’s speech at the Bitcoin 2025 event, highlighting the growing interest from major companies in accumulating Bitcoin. Last week, Trump Media announced its plans to invest $500 million in Bitcoin, while Tether, SoftBank and Strike’s Jack Mallers launched Twenty One, aiming to add 42,000 BTC and become the third-largest corporate Bitcoin holder. Saylor remains bullish on Bitcoin's future prospects, noting that many companies around the world are now copying Strategy’s playbook following "an explosion of interest" toward Bitcoin. Despite some skepticism from companies like Microsoft, which rejected the idea of buying Bitcoin, Saylor believes that the next wave of technological innovation will make it impossible for firms to ignore Bitcoin. As for Strategy, Saylor stated that the company will continue buying more BTC, expecting its price to continue rising. "We think it will get exponentially harder to buy Bitcoin, but we will work exponentially more efficiently to buy Bitcoin," Saylor said.
Dan Burgin
U.Today Editorial Team
