Newegg Rumored to Accept SHIB, Whale Moves $100 Million Worth of XRP, Crypto Billionaire Abandons ETH: Crypto News Digest by U.Today

This top five news recap will help you catch up with the crypto events that happened over the weekend.

Shiba Inu rumored to be accepted by electronics retailer Newegg

A tweet by online electronics retailer Newegg has made the SHIB Army speculate about potential acceptance of the canine coin. The company tagged lead developer Shytoshi Kusama and the official SHIB Twitter account, asking to contact them. Newegg is yet to comment on whether or not it is going to accept the meme coin.

In April, the electronics-focused online retailer enabled Dogecoin payments.

Whale transfers $100 million worth of XRP to Bithumb

Last Friday, the Whale Alert transaction tracking service detected a large transaction made by an anonymous wallet. The transaction carried $100 million worth of XRP to centralized exchange Bithumb. The fate of the transacted coins is undisclosed. However, the market has not reacted to the massive transaction, leaving the price of the coin unchanged. According to CoinMarketCap, XRP is trading at around $1.05.

Crypto billionaire abandons Ethereum

Su Zhu, CEO of Three Arrows Capital, has poured cold water on Ethereum in his latest tweet. The crypto billionaire decided to give up on the second-largest cryptocurrency due to its unaffordability for newcomers and exorbitant fees. Zhu also added that, despite all the issues, none of the influential people within the community have been able to address them.

Zhu, who started 3AC together with high school classmate Kyle Davies, is among the largest crypto holders in the world.

Avalanche surpasses Shiba Inu, hitting another ATH

Yesterday, Avalanche, one of the “Ethereum killers,” hit yet another price record, surging to $138 on Binance. It also surpassed Shiba Inu by market cap, taking 11th place on CoinMarketCap. Avalanche is now worth $29.9 billion.

Today, Avalanche went further and entered the top 10 list of largest coins by market cap, leaving Shiba Inu and Dogecoin behind.

Vegas Auto Gallery started accepting payments in Shiba Inu

According to the official announcement made on Saturday, Vegas Auto Gallery, a Las Vegas-based luxury auto dealership, has added Shiba Inu to its list of available cryptocurrency payment options. From now on, the clients of Vegas Auto Gallery can buy VIP-branded cars with SHIB. Crypto transactions get automatically converted into dollars via BitPay, which is why Vegas Auto Gallery does not face any risks linked to high price volatility.