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SHIB Sets New Record Amid Market Decline, BitBoy Speaks on His Part in XRP Case, Vitalik Buterin Is Concerned about Elon Musk’s Idea: Crypto News Digest by U.Today

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Thu, 3/11/2022 - 14:11
SHIB Sets New Record Amid Market Decline, BitBoy Speaks on His Part in XRP Case, Vitalik Buterin Is Concerned about Elon Musk’s Idea: Crypto News Digest by U.Today
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U.Today has prepared the top four news stories over the past day.

Shiba Inu breaks startling record in recent market decline

Despite the ongoing bear market, Shiba Inu is attracting investors. Data provided by WhaleStats shows that the meme coin has set a new record in terms of its holder count. At the moment, the number of SHIB owners comprises 1,233,337. Besides, the composition of SHIB holders is seeing a surprising shift. Per IntoTheBlock data, the percentage of long-term investors, or "hodlers," in SHIB is currently at its greatest level, 45%, while the percentage of short-term holders has held relatively steady. In the meantime, the coin’s rally seems to have slowed down. After spiking 12% on Nov. 1 on Elon Musk’s tweet, exhaustion set in: SHIB is currently trading at $0.00001192.

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SEC v. Ripple: crypto blogger BitBoy on his part in case as XRP holder

Yesterday, crypto influencer Ben Armstrong, also known as BitBoy, took to Twitter to share his contentment about taking part in John Deaton’s class action lawsuit against the SEC on behalf of XRP holders. The founder of CryptoLaw firm later replied to Armstrong, praising him for “playing his part” in implementing "decentralized justice” by using his large reach to raise awareness and trying to help educate lawmakers. Although it is unknown if BitBoy's evidence was among the 3,000 affidavits from XRP owners, it is certain that the court would consider and study the opinions of XRP supporters.

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Vitalik Buterin is concerned about Elon Musk's new idea

On Nov. 1, Elon Musk, a new owner of Twitter, suggested implementing a new verification system that will help fight bots and spammers on the platform. According to the centibillionaire, the suggested system would allow anyone to pay $8 per month to get the blue check. However, the idea has already faced some criticism from many crypto community members, including Ethereum’s Vitalik Buterin. He believes that the “pay $8/month and call yourself whatever" narrative might damage the blue check's anti-scam role. But if there would be an additional verification method, the result would be "very different," Buterin concluded.

Litecoin price takes giant leap after adoption news: details

After months of trading below the $60 level, yesterday Litecoin surprised everyone with a giant leap above this psychological level, hitting intraday highs of $62.53. The trigger for the sudden positive move was an announcement by MoneyGram, a leader in digital P2P payments, about the launch of a new service. From now on, its mobile app users will be able to buy, trade and store cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), in almost all U.S. states and the District of Columbia. At the moment of writing, Litecoin is changing hands at $60.94, according to CoinMarketCap.

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