SHIB to Start Trading on Brazil’s Foxbit, JPMorgan Predicts BTC Could Hit $150,000, 46.7 Million SHIB Burned: Crypto News Digest by U.Today

U.Today has prepared the summaries of the top four news stories over the past day.

Shiba Inu to start trading on one of Brazil’s top crypto exchanges

In its recent announcement, Foxbit, a major Brazilian cryptocurrency exchange, stated that Shiba Inu meme crypto would be listed on Feb. 16. Starting from that day, all 950,000 registered customers of the Sao Paulo-based trading platform will be able to trade the canine coin. Foxbit is not the first cryptocurrency exchange in Brazil to list Shiba Inu. Back in December, Mercado Bitcoin, the country's largest exchange, added support for the meme cryptocurrency.

JPMorgan predicts Bitcoin could hit $150,000

According to the latest prediction by JPMorgan, Bitcoin could reach $150,000 in the long term. In comparison, last year, the target price for the flagship crypto set by the American banking giant was a bit lower and constituted $146,000. To reach the $150,000 mark, Bitcoin  would have to match private sector investment in gold, estimated at $2.7 trillion. JPMorgan also stated that BTC’s fair value at the moment is at $38,000 since it is four times more volatile than gold.

Even though Bitcoin started recovering from a multi-month low of $32,950 on Jan. 24 after peaking at $45,501 on Feb. 8, it seems that the rally has now stopped. Per CoinMarketCap, BTC is still trading at around $45,000.

46.7 million SHIB burned, while burn pot of this company rises to 191 million tokens

Yesterday, according to Shibburn account data, about 45 million SHIB tokens have been destroyed by SHIB community members. It took 17 transactions to send this amount of crypto to a dead wallet. Later on, within a few hours, another 1,883,210 SHIB were burned within two transfers.

Meanwhile, Steven Cooper’s Bigger Entertainment keeps increasing the amount of the Shiba Inu stash it will burn at the party that will take place on Feb. 14, Valentine's Day. At the moment, the amount of SHIB to be destroyed exceeds 191 million tokens.

Shiba Inu team announces decentralized competitor

In order to boost their Metaverse game, Shiba Inu developers have announced a new project called Shiba Lands, which will enable buyers to acquire digital real estate. According to developers, those who wish to make a purchase will be able to do it "very soon." Holders of Doge Killer (LEASH), the ShibaSwap decentralized exchange's native token, will be granted access to the first selling phase, according to a queue system devised by the creators. The rest of the land will become available after the initial sale.