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U.Today has prepared the top three news stories over the past day.
Shiba Inu price history prediction: 33% run incoming?
Looking at Shiba Inu's price history, the month of March definitely stands out. Currently, the meme coin is changing hands at $0.00001262, down 10% over the past 24 hours, being in desperate need of a push, so March's benefits would come in handy. Historically, this month was favorable for SHIB; per CryptoRank data, the meme coin's average return in March stands at +33.7%. However, the median return is -0.45%. Thus, while the average return may seem impressive, the reality is a bit more inconsistent and unpredictable. It is hard to predict SHIB's future movements, especially given its relatively short history. For instance, in March 2024, SHIB skyrocketed 145%, while two Marches before that, the token's price wobbled between -9.65% and +0.43%. Still, considering the asset's intrinsic volatility, investors should stay vigilant and be ready for any scenario, whether it results in a 33% rally or a different outcome altogether.
Tomiwabold OlajideSEC drops lawsuit against Kraken
Yesterday, Kraken published a blog post, announcing its major legal win; the SEC has agreed in principle to drop its lawsuit against the exchange. Kraken believes that the case dismissal is "a turning point for the future of crypto in the U.S.," as it "lifts uncertainty" and "clears the path" for a favorable regulatory regime in the country. Marco Santori, Kraken's senior advisor, took to X platform to celebrate the victory and express his pride in Kraken's legal team. "We beat the SEC! Congratulations to the best legal team in crypto. Fighting - and beating - the SEC was not foretold. Lawyers, lobbyists, and everyone in between... We had to earn it," he wrote. As reported by U.Today, the SEC recently dropped a similar lawsuit against U.S. exchange giant Coinbase. Last week, the regulator also ditched its lawsuit against Ethereum developer Consensys.
Gamza KhanzadaevRipple unlocks one billion XRP tokens following crypto reserve announcement
Data provided by Whale Alert transactions tracker shows that yesterday, March 3, Ripple unlocked a total of one billion XRP tokens. This event follows the official confirmation of XRP becoming a part of a multi-token cryptocurrency reserve in the U.S. Ripple typically releases a billion tokens on the first day of each month, a practice established in 2017, while still holding over 38 billion tokens overall. Following news of the reserve, XRP's fully diluted valuation briefly surpassed that of Ethereum; however, XRP has since seen a price drop of 14. At press time, the Ripple-affiliated token is trading at $2.30. The price decline comes after a large $147.5 million XRP transfer to Bithumb, the top cryptocurrency exchange in South Korea. It is important to highlight that crypto traders in South Korea are often seen as a major influence on XRP's price movements.
Dan Burgin
Vladislav Sopov