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SHIB Payments Expand Even Further with This Integration, Favorable Precedent Could Be Set for XRP, DOGE up 6% Amid Market Slump: Crypto News Digest by U.Today

Wed, 02/01/2023 - 15:28
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Valeria Blokhina
Let’s see what crypto news the last day of the month brought with U.Today’s news digest!
SHIB Payments Expand Even Further with This Integration, Favorable Precedent Could Be Set for XRP, DOGE up 6% Amid Market Slump: Crypto News Digest by U.Today
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Here are the top four news stories from the previous day brought to you by U.Today.

Dogecoin (DOGE) up 6% amid broader market slump, here's why

Despite the bearish market outlook, Dogecoin surprised its holders with the revival of its price yesterday, surging by 6% to $0.09384. The reason for the asset’s growth is the fact that Dogecoin, being a highly volatile cryptocurrency, is sensitive to the news, whether positive or negative. This time, the meme coin was affected by Twitter reportedly moving forward with its payments system. As previously reported by U.Today, Elon Musk reiterated his plans to integrate digital currencies, and now the developer team is tasked with building the product with the opportunity to add crypto functionality in the future.

Shiba Inu (SHIB) payments expand even further thanks to this integration

As reported by Binance Pay in its latest update, Shiba Inu, along with other cryptocurrencies added by the payment service, is now accepted in several more countries and various global venues. First, Ukraine’s major pharmacy chain, ANC Pharmacy, has agreed to accept payments in SHIB and other cryptos via Binance Pay. In another part of the world, Bahrain, the local telecom operator, STC, has also added support for digital assets payments. Besides, TokenStore, a major marketplace for digital gift cards, announced the integration of Binance Pay, with its Picodi crypto cashback service following suit.

Shiba Inu (SHIB) Price Suddenly Turns Green as Whale Transactions Jump 56%

Ripple v. SEC: favorable precedent could be set for lawsuit based on this ruling in ally case

Fox Business's Eleanor Terrett has recently taken to Twitter to opine on the ongoing LBRY-SEC lawsuit. Terrett believes that if the judge rules that secondary market transactions of LBC by people unaffiliated with or having no investment intent in LBRY are legal, it could set a precedent that would be favorable for XRP users. On Monday, Jan. 30, LBRY crypto start-up had its last hearing. According to Attorney Jeremy Hogan, who shared the first word he received from the hearing, the SEC admitted that the LBC token itself is not a security. This means that many LBC token holders did not consider the asset an investment and used it for consuming purposes.

SHIB burn rate jumps 4,506%, burning tens of millions of Shiba Inu

According to a tweet by @ShibInfo, on Jan. 30, a total of 22,105,972 SHIB tokens were sent to dead-end wallets. This made the burn rate of the Shiba Inu cryptocurrency rise by an astonishing 4,506%. The SHIB army started this year on a high wave of burnings, incinerating over 100 million SHIB during the first several days of 2023. However, at the moment, the burn rate is now demonstrating quite modest figures, which could be seen over the past four months of last year — from one to ten or twenty million per day.

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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.