Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
U.Today has prepared the top three news stories over the past day.
Ripple locks 700 million XRP tokens in escrow
As reported by Whale Alert on April 2, Ripple locked 700 million XRP tokens in its escrow as part of its long-standing program. As a reminder, the company releases one billion XRP monthly to ensure the predictability of the XRP supply. The released XRP tokens are used for various purposes, including institutional sales and operational expenses. Typically, Ripple returns a certain part of tokens to escrow. Last month, on March 1, 700 million XRP were returned to escrow without the usual one billion token release. Escrows with 700 million tokens were created from surplus XRP in the company's accounts. As explained by XRP analyst Leonidas Hadjiloizou, "Ripple used some of its current XRP holdings to create escrows. As you can see in this post, Ripple holds a few billion XRP not in escrow."
Arman ShirinyanSHIB burns skyrocket 12,278% — What's happening?
According to data shared by Shibburn blockchain tracker, over the course of 24 hours, a major five-digit increase in the Shiba Inu burn rate was spotted. The metric surged by an impressive 12,278.89%, which has resulted from over 115 million SHIB being removed from circulation. The burn activity over the 24 hours included five transactions, with the two largest ones carrying 92,644,446 SHIB and 20,250,401 SHIB. This uptick in burns coincided with the layer-2 solution Shibarium surpassing one billion transactions. Since 2021, the SHIB community has successfully burned approximately 410,747,625,781,618 SHIB, leaving 584,365,723,302,499 still in circulation. At press time, SHIB is changing hands at $0.00001206, down 3.08%, per CoinMarketCap.
$94 million Bitcoin (BTC) mystery stuns major U.S. exchange
Whale Alert, prominent transaction tracker, has registered a sudden Bitcoin transfer from an unknown wallet to Coinbase, the largest crypto exchange in the U.S. The transfer carried 1,097 BTC, equivalent to $94 million. However, Arkham Intelligence has identified the wallet as belonging to ARK Invest, specifically linked to its Bitcoin ETF, known as ARKB. This changes the narrative completely, as Bitcoin ETFs have seen substantial outflows totaling $145.58 million in the previous 24 hours. The selling of these ETFs by holders is prompting issuers to liquidate BTC held as collateral. In this light, the fact that ARK Invest sent Bitcoin to Coinbase may reflect the selling activity currently underway with ARKB itself. Supporting this, Lookonchain data shows that ARKB alone experienced outflows of 1,027 BTC within the same time frame.
Vladislav Sopov
Dan Burgin