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SHIB Owners to Be on “Lookout,” Someone Massively Buys ADA for Unknown Reason, Vitalik Buterin Presents New Feature for ETH: Crypto News Digest by U.Today

Tue, 08/09/2022 - 16:08
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Valeria Blokhina
Take a closer look at the latest crypto events with U.Today’s news digest!
SHIB Owners to Be on “Lookout,” Someone Massively Buys ADA for Unknown Reason, Vitalik Buterin Presents New Feature for ETH: Crypto News Digest by U.Today
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Here are the top four news stories over the past day presented to you by U.Today.

Shiba Inu owners should be on "lookout," says David Gokhshtein

Founder of Gokhshtein Media David Gokhshtein has once again shown support for the Shiba Inu cryptocurrency. In a recent tweet, he hinted at the bursting potential of the meme crypto, writing that the meme crypto looks like “it wants to rip” and posting a "watch out" emoji alongside. This is not the first time Gokhshtein endorses SHIB. In May, the former U.S. congressional candidate stated that Shiba Inu has a great model and that the next few months could be essential for the canine coin. In the meantime, Shiba Inu teases upcoming new implementations such as Shibarium, the Layer 2 platform in which SHIB: The Metaverse will be developed, along with SHI, the Shiba ecosystem stablecoin.

Cardano: someone is buying it up, but reason remains unknown

Yesterday, Cardano user “Pete,” who goes by @astroboysoup on Twitter, shared a CoinMarketCap chart with his followers while commenting on significant Cardano buying activity. In his post, “Pete” noted that someone is acquiring massive amounts of ADA tokens and urged interested parties to “watch out for those corrections.” Even though the exact reason for these massive purchases remains unknown, the Cardano user came up with a suggestion that the purchases were made with the long term in mind or perhaps to profit in the short term after the Vasil hard fork. High expectations for an ADA price surge should not come as a surprise as many Cardano enthusiasts remember that the native token hit its current all-time high ahead of its other hard fork, Alonzo, which brought about the capabilities of smart contracts.

Ripple named among best medium-sized workplaces by Fortune Magazine

Fortune Magazine recognized Ripple blockchain company as one of the best medium-sized workplaces of 2022. The fintech giant was ranked 34th on this year’s list, which is one spot lower than 2021. Ripple CEO Brad Garlinghouse commented on the news, saying that it is “always nice to get a little third-party validation.” He also thanked his employees and added that they are the ones who make the company one of the best. According to Fortune, Ripple has a total of 575 employees around the world. Despite the SEC lawsuit that made the company face plenty of legal troubles in the U.S, the company was still able to continue its expansion worldwide.

Vitalik Buterin presents new feature for Ethereum

Ethereum’s Vitalik Buterin has presented a feature that might appear on the network, which is Stealth Address technology. Every Stealth Address consists of a hash of a user's address, a token ID and a secret parameter unique to a user. Assets are stored on an address that comes from the user's "leaf" in the hash tree that stores blockchain data. If an additional security mechanism is implemented, Soulbound tokens based on the ERC-721 token format can become completely anonymous, which makes it more secure for usage. However, decentralization enthusiasts severely criticized both Vitalik Buterin and the developer, who suggested the new feature for implementation in the ERC-721 token format.

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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.