Edward Snowden Issues Crucial Bitcoin Warning, Tesla Officially Adds DOGE as Payment Option But There's a Catch, SHIB Might Be on Verge of Major Breakthrough: Crypto News Digest by U.Today
U.Today has prepared the top three news stories over the past weekend.
Edward Snowden issues crucial Bitcoin warning: "Clock is ticking"
As recently became known from the post on the official X handle of Wasabi Wallet, a leading player in Bitcoin privacy solutions, zkSNACKs, the company pioneering the development of Wasabi Wallet, has decided to cease its coordination service starting June 1, 2024. The move sparked significant concern among crypto community members, and for good reason, as this will affect not only Wasabi Wallet users but also users of other wallet clients connected to the zkSNACKs coordinator, such as Trezor Suite and BTCPayServer. Even though its coinjoin coordination service was discontinued, Wasabi Wallet will continue to function as a Bitcoin wallet, yet with diminished privacy features. The news got the attention of Edward Snowden, the world-famous whistleblower; in an X post, he wrote about warning Bitcoin developers for 10 years that privacy needs to be provided at the protocol level. "This is the final warning. The clock is ticking," Snowden urged at the conclusion of his post.
Alex DovbnyaDOGE officially added to Tesla's payment options, but there's a catch
Dogecoin, the dog-themed meme cryptocurrency, has recently been added as an official payment option on the website of Tesla, an e-car manufacturing company run by Elon Musk. However, those willing to use their Dogecoin on the Tesla website can only do so in the online Tesla Shop for purchasing merchandise. The Payment, Checkout and Pricing sections in Tesla Shop's resources says: “Dogecoin may also be accepted on select products.” However, this modest development was enough to ignite excitement among the Dogecoin community; following the news, the price of DOGE was spotted surging by more than 21% on Saturday, May 4, reaching $0.159. At the moment of writing, however, DOGE is trading at $0.156, down 2.70% over the past 24 hours, per CoinMarketCap. As a reminder, the first experimental adoption of DOGE by Tesla was attempted in January 2022. Later, in March 2024, Elon Musk stated they should add DOGE as a payment option at some point in the future.
Tomiwabold OlajideShiba Inu to erase zero? 110 trillion SHIB holds key to 100% price jump
Shiba Inu could be set to make a significant shift in its price action, with a 110 trillion SHIB threshold holding the key to SHIB price doubling in value. Data provided by IntoTheBlock's breakeven price indicator demonstrates that 110.27 trillion SHIB were bought by 327,200 Shiba Inu addresses between the range of $0.000026 and $0.000051 at an average price of $0.000034, which is pretty close to the Shiba Inu's current price range. This suggests that over 327,000 addresses would need SHIB to raise to $0.00005 in order to break even. Even though the 110 trillion SHIB tokens present a strong barrier, they also hold the key to a possible price increase. Based on the current prices of Shiba Inu, a jump to $0.00005 would indicate a 100% surge in SHIB value. What gives this threshold additional significance is that a successful breach above it could potentially help SHIB remove a zero from its price. At the moment of writing, SHIB is changing hands at $0.0000243, down 2.43% over the past 24 hours.
Alex Dovbnya
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov