Important XRP, SHIB Announcement Made by Japanese Exchange; ADA and SOL Recognized as Securities in New SEC Lawsuit Against Kraken: Crypto News Digest by U.Today

Here are the top three news stories over the past day presented to you by U.Today.

Important XRP, SHIB announcement made by Japanese crypto exchange

Yesterday, Nov. 21, BitTrade, a well-known Japanese crypto exchange, made an announcement regarding XRP and Shiba Inu cryptocurrencies. In the announcement, the exchange stated that it commences XRP and Shiba Inu lending starting Nov. 21. According to additional details provided on BitTrade's blog, the loan period for both XRP and SHIB is 90 days, with an annual rate of 2%. For XRP, the minimum quantity that can be loaned is 100 XRP, and the maximum is 500,000 XRP. When it comes to SHIB, the minimum application is 10,000,000 SHIB, while the maximum is 10,000,000,000 SHIB. As reported by U.Today, last month, BitTrade listed Shiba Inu alongside Dogecoin, broadening its list of supported assets to 34.

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Cardano (ADA) and Solana (SOL) recognized as securities in new SEC lawsuit against Kraken

The SEC seems to be filing another lawsuit against the Kraken crypto exchange. As shared by Kraken on its blog, on Nov. 20, the regulatory agency filed a complaint alleging that the platform is operating as an unregistered securities exchange. As a reminder, the SEC categorized Cardano (ADA) and Solana (SOL), among other cryptocurrencies, as securities in its recent lawsuit. Kraken CEO Dave Ripley rushed to social media to justify his company's stance. In his X post, Riley stated that they strongly disagree with the SEC's claims and plan to "vigorously defend" their position, emphasizing that Kraken does not list securities. The Kraken CEO also pointed to the lack of a clear registration path with the SEC and at the factual inaccuracies in its allegations. "As an industry leader, we will stand up to these allegations and defend the crypto industry’s right to exist in the U.S.," wrote Riley.

Bitcoin (BTC) price can break above $220,000 over next 18 months: Report

According to a recent forecast by prominent X account "Bitcoin Archive," BTC's price could break through the $220,000 level within the next 18 months. As a reason for such a bold prediction, "Bitcoin Archive" suggested a dive into Bitcoin's history, or, more precisely, to the history of its halvings. Per a screenshot attached to this X post, after each halving (there have been three so far), the BTC price surged dramatically. After the first one, it went up 94x to hit $800, after the second halving gained 30x to reach $11,000. The previous, third, halving, resulted in the Bitcoin price jumping 6x to touch the $69,000 level. If this rise repeats and the price spikes by 6x once again, Bitcoin may break even higher than $220,000, stated the Bitcoin-dedicated account.