U.Today has prepared a summary of the top four news stories over the weekend. Don’t miss anything important in the crypto industry!
Shiba Inu (SHIB): Shibarium burning 70% of base fee leaves community delighted
As previously reported by U.Today, Shibarium documentation has recently been made public, to the great delight of SHIB enthusiasts. After the long-awaited release, some community members took to Twitter to discuss the most outstanding features of the Layer 2 protocol, with one of them being 10,000 times cheaper than Ethereum. Another exciting feature of Shibarium is that the base fee (a fee that is locked in a contract on Shibarium) will be split; 70% of it will be burned, and the remaining 30% will be set aside to maintain the network. During this process, accumulated BONE is sent to Ethereum's L1, where an automated swap for SHIB occurs, and this amount is burned by invoking its contract function. Users will be able to use a specific portal on Shibarium's website for this process.
XRP becomes most trading token on Korea's major exchanges, what is this anomaly?
Per data provided by CoinMarketCap, yesterday, XRP's combined trading volume on South Korea's two major exchanges, Upbit and Bithumb, totaled nearly $348 million, surpassing other assets. The figure was achieved in pairs against the South Korean won. This resulted in XRP trading volume on Upbit exceeding that on Binance by nearly 100 million tokens. As a consequence, such an anomaly led to XRP price rising by 9% at some point, to the surprise of the XRP community, as the rest of the market remained in a sea of red. The trigger for both the rise in the XRP price and trading volume was obviously increased interest from Korean investors. However, the reasons for this behavior remain unknown. One could suggest Koreans saw an opportunity to profit on XRP after the price corrected from Tuesday's 26% rise.
Shiba Inu lead Shytoshi Kusama bonds with Japan's SHIB fans
Shytoshi Kusama, the lead behind the Shiba Inu project, has shown his love for the Japanese SHIB community in a recent tweet. The translation of his tweet, which is written in Japanese, says: “I had a really good time chatting with all the wonderful Shiba Inu fans in Japan. We are like one family. Until we meet again. Goodbye.” Kusama also included a GIF from the popular Japanese anime series "Dragon Ball" with the phrase, "We are all Saiyans here," with the likely message behind it being the admiration by the unity and strength of the Shiba Inu community. The Japanese SHIB community expressed its appreciation for Kusama's tweet. User @rinshibarmy responded, "Thank you for the fun time, Shytoshi! Your Japanese is so good, I was touched. Supporting you from Japan! Looking forward to talking again." Another user, @riri_shibarmy, chimed in with, "You're always welcome!"
Max Keiser and Elon Musk criticize AI, here's what Bitcoin (BTC) has to do with it
Last Friday, a Twitter user who goes by @iamharaldur published a post in which he raises questions concerning AI and its impact on humanity. “What happens to us when AI becomes better than us at every mental task?” reads one of his questions. Two prominent figures on Twitter, Max Keiser and Elon Musk, shared their takes on the matter. According to the Tesla CEO, the questions asked by @iamharaldur are "the right questions to ask," adding that he had been thinking about similar things for many years. Musk also wrote that his company Neuralink was launched as "a possible long-term solution" to that issue. As for Keiser, he criticized AI technology, calling it “an extinction event for our species.” To protect mankind from it, says the BTC proponent, we need to deprive AI of the energy it needs for functioning and transfer all that spare energy to Bitcoin hashing.