Elon Musk Fails to Boost Prices of Canine Coins, Bitcoin’s Hashrate Spikes, Grayscale Releases Report on Cardano: Crypto News Digest by U.Today

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Mon, 10/04/2021 - 13:26
Valeria Blokhina
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U.Today has prepared a crypto news digest with the most outstanding events over the weekend.

Elon Musk shakes Doge community with his tweet - or does he?

On Sunday, centibillionaire and most famous Dogecoin fan Elon Musk announced that he will share a new picture of his Shiba Inu puppy, Floki. The last time this happened, Floki Inu, one of the many Dogecoin copycats, surged 100% to the great delight of coin supporters.

However, as the crypto community could see today, canine coins have become less sensitive to Elon Musk’s tweets. After the Tesla CEO posted a photo of his charming puppy, Dogecoin added 3.49% but quickly gave up its gains, Shiba Inu barely budged and Floki Inu is currently up by a mere 5%.

Grayscale releases new report on Cardano

As part of its series of educational cryptocurrency overviews called “Building Blocks,” Grayscale released a new report about Cardano, describing ADA’s main advantages and some of the major risks associated with it.

Among the reasons why the blockchain is likely to flourish, Grascale named Cardano’s strong community, wide accessibility and decentralization. The main risk factor is competition in the smart-contract space, with Etherum, Solana and Avalanche vying for dominance.

Ripple withdraws one billion XRP from escrow, locks 600 million XRP back

On the first day of October, the San Francisco-based fintech giant shoveled another billion XRP from its escrow account. Later on in the weekend, Ripple moved 600 million from that amount back and locked it up. This time, the company has put back a much smaller amount of XRP; usually it is 800-900 million XRP.

Bitcoin’s hashrate shows a stunning recovery despite China’s crypto ban

According to Blockchain.com, on Saturday, Oct. 2, Bitcoin’s hashrate spiked to 177.5 EH/s. After a significant drop in late June caused by the Bitcoin mining ban in several Chinese provinces, the metric has finally managed to revive. It took Bitcoin's hashrate less than three months to bounce back.

Whale grabs outstanding amounts of SHIB

Over the weekend, an anonymous crypto whale added 276 billion Shiba Inu to the six trillion SHIB bought last Thursday, giving the coin a momentum of 4.39% after the purchase. Other whales are taking great interest in SHIB as well. Now, the SHIB community expects the Robinhood app to list the cryptocurrency, with a petition on Change.org signed by almost 200,000 people.

About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.

 


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