Key SHIB Metric Frozen in Past Few Days, Cardano Might Flip TRX and DOGE If This Happens, Ripple Taps Coinbase for Upcoming Major Event: Crypto News Digest by U.Today
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Here are the top three news stories over the past day presented to you by U.Today.
Key SHIB metric frozen in past few days — what's happening?
Several on-chain sources showed that the Shiba Inu burn rate, one of the meme coin's key metrics, has been negative (or zero) over the past few days, meaning that no SHIB tokens were transferred to dead-end wallets during this period. Per yesterday's Etherscan data, the last transaction, which burned 1,703,894 SHIB, was made five days ago. At the same time, the Shibburn data from yesterday says that the last burn transfer took place two days ago, destroying less than 100,000 SHIB. Shibburn displayed a 1,088% SHIB burn rate, which was a "frozen rise" from two days ago, with the daily SHIB burn rate equaling zero. None of the SHIB team members has commented on this freeze in SHIB burns. However, similar situations have occurred once or twice earlier this year; the explanation back then was the fact that the SHIB developer team was working on multiple updates and integrating them. As for now, as reported by U.Today today, the SHIB burns have been resumed.
Tomiwabold OlajideCardano (ADA) might flip TRX and DOGE if this happens
Over the past few days, Cardano (ADA) has been in and out of the top 10 cryptocurrencies list, struggling in a continuous battle for staying among the assets with the largest market cap. Specifically, it was surpassed by TRON (TRX) as a result of the success of its meme coin launchpad, SunPump, which increased investor interest in the asset. Yesterday, Cardano managed to reclaim its 10th place, but was dropped back to 11th position today. However, analysts are still hopeful that a sustained flip might happen soon. Per recent data, Cardano is trading up 3.03% over the past 24 hours at $0.3817, with a market capitalization of $13,725,523,310. If the price of ADA continues to grow steadily, it will not take long for it to overtake TRON. The same principle goes for ADA's next competitor, DOGE. Additionally, analysts believe that Cardano’s highly anticipated Chang hard fork launch could help ADA in this "race," as such a major milestone could push the asset's price to new highs.
Ripple taps Coinbase, industry heavyweight, for upcoming major event
As fall is slowly approaching, bringing many major crypto events with it, Ripple has revealed an outstanding speaker lineup for its upcoming Ripple Swell 2024 event, which will take place Oct. 15-16, 2024, in Miami, Florida. This year’s event would feature some of the most respected names in the industry. Opening the list of Ripple Swell 2024 is Ripple CEO Brad Garlinghouse, who has been at the forefront of Ripple’s efforts to revolutionize cross-border payments using blockchain technology. Philip Martin, the chief security officer of Coinbase, is also set to speak at Ripple's event. Other speakers lined up for the event include Superintendent Adrienne Harris of the New York Department of Financial Services (NYDFS); Francisco Maroto, global head of Blockchain and Digital Assets at BBVA; and Tim McCourt, senior managing director, global head of Equities, FX and Alternative Products at CME Group.
Arman Shirinyan
Alex Dovbnya