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SHIB Burn Rate Spikes 14,267%, XRP Accounts Nearing 4.35 Million, Robinhood Enables XLM, XTZ and AAVE Transfers: Crypto News Digest by U.Today

Fri, 10/28/2022 - 13:41
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Valeria Blokhina
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SHIB Burn Rate Spikes 14,267%, XRP Accounts Nearing 4.35 Million, Robinhood Enables XLM, XTZ and AAVE Transfers: Crypto News Digest by U.Today
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U.Today presents the top four news stories over the past day.

Shiba Inu burn rate spikes 14,267%, price recovers

Shibburn’s data from yesterday demonstrated a huge burn rate spike by 14,267%, with the number of destroyed tokens not massive. According to Shibburn, around 14.07 million tokens — worth roughly $155 at that time — were sent to dead wallets. Meanwhile, SHIB’s market cap has also touched the $6 billion mark for the first time in 17 days. At the same time, the meme coin’s price saw a 7% surge to $0.000011, which followed after Luxembourg-based cryptocurrency exchange Bitstamp listed it for customers in the U.S. At the moment of writing, however, SHIB lost its gains and is changing hands at $0.00001071.

SHIB Shares Mysterious Teaser, Here's What Community Thinks

XRP accounts nearing 4.35 million mark, but here's even crazier stat

XRP Ledger Services, the website that tracks XRPL's performance, reports that the current number of XRP accounts is 4,342,550. The total quantity of XRP held by these accounts is 55.7 billion, of which 43.425 million XRP represents the amount of reserves that are blocked when the wallet is created. Another interesting statistic is how few empty XRP wallets there actually are. According to recent data, only 948 of the many millions of XRP accounts do not contain anything. Thus, the number of empty XRP accounts is only 0.02% of the total. The portal also discloses that out of the total of 99.99 billion XRPs in circulation, 44.3 billion XRP are held in escrow accounts.

Robinhood enables XLM, XTZ and AAVE transfers

In a recent tweet, stock brokerage app Robinhood announced that it enables transfers for Aave (AAVE), Stellar (XLM) and Tezos (XTZ). From now on, users can send and receive these cryptocurrencies on Robinhood. Earlier this week, Robinhood listed Tezos (XTZ) and AAVE DeFi token. They are the most recent cryptocurrency assets to be introduced to Robinhood, which has 18.7 million active monthly users. In August, Robinhood listed Stellar (XLM) alongside Avalanche (AVAX), enabling transfers for Avalanche last September. Last month, Robinhood also listed its first stablecoin, USDC.

Scam alert: SHIB and DOGE on Cardano might be honeypots

The cryptocurrency community has recently spotted the two biggest meme coins, Shiba Inu and Dogecoin, on the Cardano network: the assets could be seen on popular Cardano tracking and analysis platform TipTool. However, it might not be safe to use them. Per underlying data, both SHIB and DOGE currently have no bridging and are controlled by only a few wallets. This raises serious concerns since users' funds might end up in the hands of scammers. Reportedly, only 200 ADA have been pooled to Cardano-based Shiba Inu and Dogecoin.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.