Over 1 Trillion SHIB Dumped on Turbulent Crypto Market, DOGE Trading Pair Listed by Major Exchange, Ripple's XRP Sales Soar in Q1: Crypto News Digest by U.Today

Fri, 04/28/2023 - 16:13
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U.Today presents the top three news stories over the past day. Take a closer look at the world of crypto!

Dogecoin (DOGE) trading pair listed by major crypto exchange

As stated on Binance’s website, today the exchange opened trading for a new trading pair, DOGE/TUSD, at 8:00 a.m. UTC. Along with this pair, two more were added by Binance, WBTC/USDT and USDT/ARS. At the moment, the largest liquidity for DOGE is against USDT on Binance, with over 20% of all DOGE trades taking place with this pair. The next largest pair is against BUSD, but it is likely to change after the announcement of the new DOGE/TUSD trading pair. About two weeks ago, Binance added support for TUSD as a native token on the BNB Chain. Since then, the share of BTC traded in pairs with TUSD has increased significantly on the exchange.

Over 1 trillion Shiba Inu (SHIB) dumped on turbulent crypto market

Data provided by IntoTheBlock crypto intelligence portal shows that yesterday, large investors sold more than 1.4 trillion Shiba Inu tokens. The sell-off was ignited by a false report that the U.S. government was selling confiscated Bitcoins, which made trading firms panic and caused the crypto market to crash. The situation occurred when the gap between large purchases and sales was only 26.1 billion SHIB, suggesting that the day before yesterday would have been a more bullish day for investors. However, the price of the token decreased by 8% in just one hour, which served as the catalyst for the sell-off.

Ripple's XRP sales soar to $361 million in Q1

According to Ripple’s recent Q1, 2023, XRP Markets Report, total XRP sales, or net purchases, reached $361.06 million. Compared to the $226.31 million reported in the prior quarter, this indicates a significant increase. In addition to this, Ripple reports strong XRP Ledger on-chain activity: in comparison to Q4, 2022, decentralized exchange volumes increased by 34% to $115 million in Q1, 2023. The average daily volume (ADV) on centralized exchanges also jumped by 46% to reach $1 billion in the first quarter. Despite the market turmoil caused by such events as the collapse of Silvergate and the shutdown of Signature Bank, XRP markets remained resilient, with a 46% quarter-over-quarter increase in volume.