Ripple Cofounder Celebrates Major Stellar Success, Polkadot Secures Spot on Coinbase Futures, Shiba Inu Burn Rate Surges 8,511%: Crypto News Digest by U.Today

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

Ripple cofounder celebrates major Stellar (XLM) success

According to an official announcement on the Stellar X account, validators of the Stellar Network voted for the upgrade to "Protocol 20," thus marking the introduction of the Soroban smart contract platform. This exciting news was celebrated by Jed McCaleb, cofounder of Stellar who also took part in founding Ripple and served as its CTO until 2013; he took to X platform to praise the arrival of "Full smart contracts on Stellar!" Soroban is expected to enhance Stellar's current strengths in cross-border transactions and interoperability between fiat currencies and cryptocurrencies, while also incorporating features to address compliance and regulatory requirements directly within the smart contract layer, thereby making it more appealing for institutional adoption.

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Wed, 02/21/2024 - 09:41

Stellar (XLM) Enters New Era With Protocol 20 Upgrade, Here's What Changed

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Polkadot (DOT) secures spot on Coinbase futures, alongside XRP and DOGE

Yesterday, Feb. 22, Coinbase made an X announcement about a new perpetual futures listing. The announcement reads that perpetual futures contracts for Polkadot (DOT), as well as for two other cryptocurrencies, Internet Computer (ICP) and NEAR Protocol (NEAR), are now "in full-tradin mode" on the Coinbase International exchange and Coinbase Advanced platforms. Thus, Polkadot entered the list of prominent digital assets like XRP, Dogecoin (DOGE), Solana (SOL), Optimism (OP), Arbitrum (ARB), Ethereum Classic (ETC) and several others that have been listed as perpetual futures on the Coinbase International crypto exchange. 

Shiba Inu (SHIB) burn rate soars 8,511% as bulls push for price rebound

Data provided by Shibburn website shows that, yesterday, the Shiba Inu burn rate saw an astonishing growth of 8,511.59%, with a total of 86,115,940 SHIB sent to dead-end wallets. As seen upon a close observation of the burn rate, the number of destroyed SHIB tokens has been consistently increasing, reviving the meme coin's overall bullish outlook. The Shiba Inu burn rate has always been a key indicator of the token's ability to achieve significant growth or recovery. With SHIB flirting with the $0.00001 resistance level, this burn rate reboot is critical because it can help concentrate bull market effort toward achieving the desired growth target. Following this most recent burning, 410,708,549,032,198 SHIB had been burned in total, bringing the total number of SHIB in circulation down to 581,442,378,236,136 SHIB.