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Musk Puzzles SHIB and DOGE Holders, Schwartz calls BTC Ban “Disastrous” for Ripple, BabyDoge Scores 1.226 Million Users: Crypto News Digest by U.Today

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Mon, 01/17/2022 - 16:25
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Valeria Blokhina
Check out the latest news digest by U.Today!
Musk Puzzles SHIB and DOGE Holders, Schwartz calls BTC Ban “Disastrous” for Ripple, BabyDoge Scores 1.226 Million Users: Crypto News Digest by U.Today
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These top four news stories by U.Today will help you stay updated on crypto events over the past weekend.

Elon Musk’s tweet leaves SHIB and DOGE holders puzzled

Tesla CEO Elon Musk would not be himself if he did not cause another fuss in the crypto community. On Saturday, the centibillionaire posted only one word, “top,” with an up arrow emoji, making SHIB and Dogecoin fans wonder whether he meant one of the meme coins going to the moon.

Last week, Tesla started pricing some of its products in Dogecoin, causing the price of the asset to surge more than 12%.

David Schwartz: Bitcoin ban would be “disastrous” for Ripple

In his Saturday thread, Castle Island Ventures' Nic Carter accused Ripple of actively trying to undermine the two largest cryptocurrencies, Bitcoin and Ethereum. David Schwartz, Ripple’s chief technology officer, rushed to respond to the allegation, claiming that the U.S. government banning Bitcoin would be “disastrous” for the company, as well as classifying Ethereum as an unregistered security.

Meanwhile, Ripple’s lawyers are continuously targeting both BTC and ETH after the infamous lawsuit filed by the SEC against the blockchain company.

Related
Ripple CTO David Schwartz Insists That He’s Not Satoshi Nakamoto

Tether is no longer dominant Ether-based stablecoin

According to Alex Svanevik, CEO and founder of leading on-chain analytical team Nansen, the market capitalization of USD Coin (USDC) surpassed that of Tether (USDT). Data on Etherscan shows that there are 40,055,012,440.27955 USDC and 39,828,710,009.874796 USDT on Ethereum. USDT's cap is equal to $78 billion, while USDC's liabilities total $45 billion as of early Q1, 2022.

BabyDoge is now held by whopping 1.226 million users

WhaleStats data demonstrates that the number of BabyDoge holders is rapidly increasing, hitting a new record. At the moment, the current holder count constitutes a whopping 1,226,253. Despite SHIB having greater market capitalization value and wider adoption, its total number of holders exceeds that of BabyDoge, with 1,140,151 people owning the second-largest canine coin.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.