PayPal Launches Its Own Stablecoin, Dogecoin Creator Reacts to DOGE in New Futurama Season, SHIB Whales Buy 11 Trillion SHIB in 2 Days: Crypto News Digest by U.Today

Here are the top three news stories over the past day presented to you by U.Today.

PayPal launches its own stablecoin

As reported by Bloomberg, PayPal payments giant has gone live with its own stablecoin called PayPal USD (PYUSD), striving to boost broader adoption of digital tokens for payments. This marks a crucial turning point in the field of digital payments, as it is PayPal's most significant move in the crypto space since it first ventured into it in late 2020. PYUSD is pegged to the U.S. dollar and is issued by Paxos Trust. Soon the coin will become accessible to PayPal's vast customer base. PayPal's outgoing CEO Dan Schulman highlighted PYUSD's long-term objectives, saying that it is expected to play a significant role in the overall payments infrastructure.

Dogecoin creator reacts to DOGE appearing in new Futurama season

All of the Dogecoin community's eyes are now on the newly revived Futurama series, as their beloved meme crypto made an appearance in one of its recently aired episodes. To mark this occasion, DOGE creator Billy Markus took to social media, sharing a screenshot of a scene that shows a tablet with "Doge City" written on it. "The silly thing I made ten years ago made it to a Futurama episode," Markus wrote. However, despite DOGE's unexpected appearance in the popular animated series and a social media boost from its creator, the coin's price has not really been affected. Yet, this does not necessarily represent how well the crypto is performing. In fact, in the last few months, DOGE has been on an upward trajectory; at the moment of writing, the meme coin is trading at $0.07, per CoinMarketCap.

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Shiba Inu trillionaires acquire 11 trillion SHIB in just two days as Shibarium nears

According to data provided by IntoTheBlock, Shiba Inu is experiencing a spectacular spike of on-chain activity, as prominent SHIB holders have purchased an astonishing 11.11 trillion SHIB within the past 48 hours. The move signals a strategic action by major players ahead of an anticipated event, Shibarium's impending launch during the Blockchain Futurist Conference in mid-August. On Saturday, Shiba Inu saw a dramatic shift in its ecosystem as the amount of SHIB tokens entering whale wallets increased by 3,148% compared to the previous day. This sudden increase in token inflows is the biggest one seen in almost two months. In addition to this, an equally sharp decline in outflows from the wallets of SHIB's elite investors appeared. The value of outflows dropped by 94.61%, from 7.21 trillion SHIB to 388.07 billion, in just the previous 24 hours.