Key Reasons Why Bitcoin Price Is Pumping, Ripple CEO Celebrates Company's Epic Wins, Shibarium Stuns SHIB Army With Triple-Digit Surge: Crypto News Digest by U.Today

Don’t miss anything in the world of crypto with U.Today’s top three crypto news stories over the past day.

Key reasons why Bitcoin price is pumping

Yesterday, the community of Bitcoin enthusiasts was delighted to watch its preferred crypto surpassing the $50,000 price level. The surge in the BTC price was fueled by a confluence of factors, the first one being considerable net inflows into Bitcoin spot ETFs. As noted by crypto analyst Michaël van de Poppe, on Tuesday, Feb. 13, Bitcoin ETFs witnessed an influx of over $600 million. Additionally, market reactions to external economic indicators have also been a major factor in the recent surge in the Bitcoin price. Santiment analytics firm reported that Bitcoin managed to climb back from a downturn following the panic from a recent CPI report, emphasizing the notable gains of selected altcoins, such as VET, TAO and STX, which suggests a broader diversification trend on the crypto market. Thus, significant ETF inflows and adaptive trading strategies in response to economic reports point to a positive outlook for Bitcoin's price.

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Wed, 02/14/2024 - 20:50

Bitcoin (BTC) Might Reach $700,000 if This Happens, According to Adam Back

Alex Dovbnya

Ripple CEO celebrates company's epic wins

In response to Coindesk's X post revealing Ripple's plans to acquire crypto custodian Standard Custody, Brad Garlinghouse, CEO of Ripple, decided to praise the company's considerable achievements. To date, Garlinghouse wrote, Ripple has secured money transmitter licenses in nearly 40 jurisdictions in the U.S, gained its full Major Payments Institution license from the Monetary Authority of Singapore (MAS) and registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland. Commenting on the upcoming acquisition of Standard Custody & Trust Company, the CEO stated that this move reinforces Ripple's commitment to regulatory compliance while also allowing the company to expand its existing product offerings and explore new, complementary products. Following the acquisition, Standard Custody's limited purpose trust charter and money transmitter licenses will be added to Ripple's growing regulatory license portfolio.

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Tue, 02/13/2024 - 18:45

Ripple Unveils Game-Changing Deal

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Shiba Inu's Shibarium stuns SHIB community with triple-digit surge

A notable surge in Shibarium's online engagement has been spotted in the previous 24 hours. Per data provided by Shibariumscan, the number of active accounts on the platform increased by a remarkable 49%, from 554 to 826. Additionally, the number of new accounts surged substantially, increasing from 21 to 186, indicating an impressive net growth of 785.71%. At the moment of writing, Shibarium's total count of active accounts stands at 63,926, reaffirming its appeal to SHIB fans around the world. Along with the spike in user accounts, BONE, Shibarium's native token, has seen a major rise in transfer volume, surging by 220% within the same 24-hour period. Also, the platform witnessed a considerable uptick in the creation of new verified contracts, climbing by 425% to reach a total of 17 contracts. As evidenced by the influx of new users and heightened engagement levels, the Shiba Inu blockchain ecosystem is maturing, which may have implications for SHIB and BONE performance.