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SHIB Teases Partnership with Bugatti Group, XRP Likely to Be Only Clarity for Next 2 Years, Whales Bet on ETH to Drop to $400 in Summer: Crypto News Digest by U.Today

Mon, 01/09/2023 - 15:01
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Valeria Blokhina
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SHIB Teases Partnership with Bugatti Group, XRP Likely to Be Only Clarity for Next 2 Years, Whales Bet on ETH to Drop to $400 in Summer: Crypto News Digest by U.Today
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U.Today has prepared a summary of the top four news stories over the past day.

Shiba Inu team teases partnership with Bugatti Group

@Shibtoken, the official Twitter handle of the Shiba Inu cryptocurrency, has recently published a promo video teasing a partnership with the Bugatti Group — a company focused on designing and creating luggage and various accessories. The details of the partnership remain unknown as of now, but judging by the video, SHIB enthusiasts may expect to see a line of Shiba Inu-themed handbags. However, the news has not affected the meme token’s price: it is still trading down more than 90% from its record high.

XRP likely to be only clarity for next two years, CryptoLaw founder predicts

In a recent tweet, CryptoLaw founder John Deaton reminded the crypto community why the XRP case is still important and should be closely watched. He stated that Judge Torres’ decision about XRP in the near future will likely be “the only clarity we get for the next 2 years.” According to Deaton, if she decides that the Ripple-affiliated token is a security, “it will embolden the SEC to come after the other tokens.” The CryptoLaw founder also responded to a Twitter user regarding the time when the decision will take place, saying that he would bet on the end of March.

Ripple's ODL Represents 90% of $6 Trillion FX Market Daily: Ripple's Top Executive

Whales bet on Ethereum to plunge to $400 this summer

According to Chinese crypto journalist Colin Wu, who cited crypto analytic account @Blofin_Official, some crypto whales are likely to bet on Ethereum, the second largest cryptocurrency, to drop to the $400 level. Wu’s tweet reads that there has been an order placed of 26,000 Ethereum put options. The strike price for it was set at $400, and the options will expire on June 30 of this year. Yet Wu suggested that this move could also be tail management behavior as whales are purchasing large amounts of put options to protect their positions.

$200 Million Transferred From Binance to Justin Sun, What's Happening?

XRP adoption in U.S. is what China wants to prevent, SEC comes in handy

Patrick L. Riley, CEO of Reaper Financial blockchain company, has taken to Twitter to opine on how XRP plays a part in the undeclared competition between the U.S. and China. He noted that even though the latter has banned crypto trading and mining on its territory, it did not "sic its dogs" on Bitcoin. In Riley’s opinion, the current Ripple-SEC lawsuit "isn't just a court case, it's a war," and China’s true goal is not to allow XRP adoption in the U.S. since it keeps America "from going under."

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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.