John Deaton Has 'Zero Doubt' in Ripple’s Victory, Trillions of SHIB to Be Burned with Shibarium, Litecoin Sees Enormous Whale Activity: Crypto News Digest by U.Today

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

Ripple will win now, 'zero doubt,' CryptoLaw founder says, but there's a catch

Yesterday, CryptoLaw founder John Deaton commented on the ongoing case of Grayscale against the SEC concerning the conversion of GBTC into a Bitcoin ETF. Deaton tweeted that, in his opinion, Grayscale’s win is "more than possible," with the company’s chances to score a victory before the DC Circuit being 50/50, and before the U.S. Supreme Court, 75-80%. In a subsequent tweet, the lawyer suddenly switched to discussing the infamous Ripple-SEC legal battle, saying that if the case would go as far as to the U.S. Supreme Court, he has “zero doubts” that the Court will rule in favor of the fintech giant.

Massive SHIB burn alert: trillions of Shiba Inu tokens to go up in flames with Shibarium

According to a recent tweet by Lady Crypto (@ShibArmy_4Life), a member of the Shiba Inu Ecosystem team, one of Shibarium’s many goals is to burn trillions of SHIB tokens. This was confirmed by the project’s lead dev, Shytoshi Kusama himself: Lady Crypto shared a screenshot of Kusama’s Discord message, which was a reply to the question “Will trillions of coins be burned from it?” The lead dev’s message says: "That's the goal bud." However, while some members of the SHIB community felt enthusiastic about the post, others remained skeptical and asked to specify whether these trillions of meme coins are going to be destroyed daily, monthly or yearly.

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Mon, 01/16/2023 - 06:35

Shiba Inu (SHIB) Team Introduces Basic Concepts of Shibarium

Alex Dovbnya

Shibarium's potential skyrockets, SHIB lead dev reveals big-name users: details

@NastyShib, a SHIB-themed Twitter account, has shared a screenshot showing what expectations regarding the Shibarium L2 protocol lead dev Shytohi Kusama has in mind. According to the screenshot, Kusama stated that projects like F9 (Ethereum-based community project), Mbet (play-to-earn/GameFi casino ecosystem) and other tokens would utilize Shibarium. The SHIB supporter accompanied his post with the following words, "Much like a tree there will be larger and smaller branches of what essentially is Shibarium," perhaps referring to Kusama’s recent comparison of Shibarium to a pine tree and implying that the protocol’s potential is enormous.

Litecoin (LTC) eyes enormous whale activity, here are two major reasons

Per Santiment’s recent report, Litecoin cryptocurrency saw an explosion in large whale activity, with the amount of transactions valued at $1 million or more reaching levels comparable to the highs of 2022. This might be happening for two reasons. First is the general "greening" of the crypto market, with its capitalization adding 32% at the start of the year and reaching the $1 trillion level again. Second is the fact that Litecoin will be halved this August, and the reward for a mined block will be lowered. LTC has undergone this twice before, in 2015 and 2019, and both times the coin's price increased significantly.