Japanese Crypto Exchange to List SHIB, XRP Options Available on Binance, SHIB Burn Rate up 4,600%: Crypto News Digest by U.Today

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

Shiba Inu: Japanese crypto exchange announces SHIB listing

Still more SHIB listing news comes from the “land of rising sun” as one of the largest cryptocurrency exchanges in Japan, BitFlyer, has announced on its Twitter account that it will soon add support for the meme token. However, the exchange has not yet specified the date on which SHIB will become available for trading. Despite this fact, in a subsequent tweet, BitFlyer announced a SHIB-handling commemoration with a prize pool of 10,000 yen for 20 eligible winners. As the translation of the tweet from Japanese reads, the campaign will start on March 22 and end the moment it starts handling SHIB. Earlier this year, on Feb. 28, OkCoinJapan, the Japanese subsidiary of San Francisco-based exchange OkCoin, listed the Shiba Inu token.

XRP options now available on major exchange after price moves further

According to a recent announcement by leading cryptocurrency exchange Binance, it expanded its line of XRP-focused investment products. As stated on the exchange’s website, all its users will have access to weekly options contracts for XRP/USDT. Apart from XRP, such a product is only available for BTC, ETH and BNB. However, one should note that the contracts are European, which means that their execution is strictly linked to a predetermined future price and date. The first XRP/USDT options with an expiry date on the last day of the month have become available today, on March 23, and will be updated every Thursday. It is interesting to note that new XRP investment options were made available on Binance the day after the token demonstrated the best price action among major crypto assets: on March 21, XRP spiked more than 30%, hitting its four-month high of $0.493.

Shiba Inu (SHIB) burn rate up enormous 4,600%, what's happening?

Per recent on-chain data, Shiba Inu saw a significant increase in its burn rate, which surged to almost 5,000%. Yet it seems like such impressive growth has no effect on the asset’s price as it did not show any notable change for the past two weeks. Theoretically, the sharp rise of Shiba Inu's burn rate should lead to a rise of the token’s price due to the diminishing supply. However, the price has remained relatively stable, baffling investors. While analyzing Shiba Inu’s price movement, it is also important to consider the influence of so-called whales. With SHIB's stagnant price despite the increased burn rate, it is possible that these large investors are cautiously watching market conditions, waiting for a strong indication of the token's future course before making their next move.

Fashion brand Guess now accepts Bitcoin (BTC), Tether (USDT) in Lugano

Plan B, a joint initiative of the Swiss city of Lugano and Tether, announced a partnership with global fashion brand Guess. Thanks to this partnership, Guess will now be able to accept cryptocurrency payments in Bitcoin (BTC) and Tether (USDT) in its retail stores in Lugano. Apart from that, more than 150 shops and businesses in the Swiss city, including McDonald's, accept Bitcoin, Tether and LVGA, in addition to fiat currency, as payment for their goods and services. Customers will be able to buy clothing and accessories at the Guess boutique utilizing a POS system with Bitcoin Lightning Network technology and the three digital currencies: Bitcoin, Tether and LVGA.