Here are the top three news stories over the past day presented to you by U.Today.
Cardano witnesses $1.5 billion whale transaction surge as ADA price shines green
According to data provided by IntoTheBlock on-chain analytics platform, the number of large transactions involving ADA, Cardano's native token, has increased dramatically over the past day, surpassing $1.5 billion. The considerable rise in these transactions, which are usually valued at at least $100,000 each, brought the aggregate volume from $17.96 billion to an astounding $19.47 billion. In terms of Cardano tokens, this surge reflects a surge in large transactions from $32.32 billion ADA to $33.66 billion ADA. Such an increase in whale transactions is directly related to the ADA price's exceptional performance; since the beginning of December, ADA demonstrated a remarkable growth, exceeding 63%. Per CoinMarketCap, ADA is trading at $0.63, up by 45.28% over the past seven days.
Microsoft issues major crypto warning
In a recent article on its official blog, Microsoft's security team has issued a warning that cybercriminals are exploiting a system called OAuth, which is used by websites to verify your identity. The criminals compromise user accounts through phishing or password-spraying attacks, targeting accounts without strong authentication mechanisms. After gaining control over these accounts, they can manipulate OAuth applications to gain extensive access and permissions, thus facilitating various forms of cybercrime, including illicit crypto mining. To prevent such a scenario from happening, Microsoft issued several recommendations. First, it is crucial to have multifactor authentication (MFA) enabled. Second, organizations are advised to enable conditional access policies and continuous access evaluation.They are also encouraged to audit apps and the permissions they have been granted to ensure they adhere to the principles of least privilege.
Shiba Inu (SHIB): Here's fascinating trend that might trigger new bull run
Shiba Inu is showing an interesting trend that could pave the way for a potential bull run. Per data provided by Santiment on-chain analytics firm, since Nov. 12, Shiba Inu supply on exchanges has decreased by 0.51%. With 589.59 trillion SHIB in total supply and 589.35 trillion SHIB in circulation, the percentage drop is still substantial and amounts to billions of SHIB. Approximately 7.85% of the enormous supply of Shiba Inu is currently on exchanges. The positive implication is that fewer SHIB on exchanges might imply reduced selling pressure and thus set the stage for potential gains. Supply is likely dropping since more traders and investors choose to self-custody their Shiba Inu holdings. This implies that investors would rather hold onto their assets in anticipation of possible future returns than sell them. With less supply on the market, a little increase in demand would be enough to quickly drive prices up.
Tomiwabold Olajide
Mushumir Butt
