U.Today helps you keep an eye on the latest updates in the industry. Check out the top four news stories over the past day!
David Gokhshtein: I can see SHIB touching $0.001
According to David Gokhshtein’s recent tweet, Shiba Inu, the second largest meme coin, could "touch" the $0.001 mark. However, he does not reckon Shiba Inu can reach $1. Gokhshtein’s view on the coin’s price attracted lots of SHIB fans to the comments section; they rebuked the influencer, reminding him that the dev team of SHIB has not yet revealed an additional burn mechanism for the token.
Despite this pinch of salt, the founder of Gokhshtein Media expressed a more positive opinion about Shiba Inu in his earlier tweet, saying that it can attract numerous amateur investors to the giants of the crypto market, Bitcoin and Ethereum.
Peter Brandt: Bitcoin price could rise 10x in two years
Prominent trader Peter Brandt shared a prediction in response to a tweet by long-time Bitcoin proponent Tuur Demeester. The latter claims that after long-lasting periods of consolidation, BTC tends to explode “like nothing on this planet.” According to Brandt, Bitcoin could either increase 10 times two years from now or continue its streak of sideways trading for a prolonged period of time. Previously, a veteran trader forecasted that Bitcoin’s next “rocket stage” may be ignited in 2024 based on how previous market cycles have played out.
Cardano sees nearly $50 million inflow into DeFi within 24 hours despite price drop
Data provided by DefiLlama demonstrates that the Cardano DeFi ecosystem recorded a positive 24-hour change of nearly 17.50% in its total value locked (TVL), attracting nearly $50 million in funds. The TVL surged from roughly $267 million on April 12 to an astonishing $313 million. Cardano is seeing steady growth regarding this essential metric since January thanks to the launch of projects Sundaeswap and Minswap. At the moment, there are 10 dApps contributing to the TVL on Cardano.
Jack Dorsey takes dig at Shiba Inu and Robinhood
Robinhood’s recent announcement about the Shiba Inu listing seems to puzzle Twitter CEO Jack Dorsey as he reacted to the investing app’s post with a question mark. Robinhood CEO Vlad Tenev, in turn, responded to Dorsey’s tweet by asking when Twitter is going to introduce an edit button. It is not the first time a Twitter CEO took a dig at the meme coin. Back in October 2021, the billionaire succinctly criticized cryptocurrency exchange Coinbase for promoting Shiba Inu.