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Shibarium Beta Hits New Milestones, Former Coinbase CEO Loses $1 Million BTC Bet, Rapper Soulja Boy 'Done Got Rich Off PEPE': Crypto News Digest by U.Today

Fri, 05/05/2023 - 16:02
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Valeria Blokhina
Check out U.Today’s news digest to stay updated on the latest crypto events!
Shibarium Beta Hits New Milestones, Former Coinbase CEO Loses $1 Million BTC Bet, Rapper Soulja Boy 'Done Got Rich Off PEPE': Crypto News Digest by U.Today
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U.Today has prepared the top three news stories over the past day.

Shibarium beta hits new milestones, mainnet launch might be imminent

Since its launch on March 11, Shibarium beta "Puppynet" has demonstrated rapid growth and continues reaching new milestones, much to the delight of the SHIB community. Data provided by Puppyscan shows that the number of interacting wallet addresses on Shibarium's testnet has surpassed 14 million and currently stands at 14,238,144. At the moment of writing, the number of total transactions constitutes 5,114,136, the total blocks are 686,230 and the average block time is five seconds. Meanwhile, according to a recent survey on meme coins conducted by CoinGecko, Shiba Inu was the most successful meme coin in terms of gains, with an 8,424,202% increase at its peak, compared to its starting price on Aug. 1, 2020.

Shiba Inu (SHIB) Burn Rate Jumps 30,940%, Price Set to Soar

$1 million Bitcoin bet winner to fund cat house

Back in March, pseudonymous Twitter account @jdcmedlock started a $1 million bet, claiming that the U.S. would not experience hyperinflation. The bet was accepted by former Coinbase CEO Balaji Srinivasan, who in turn stated that within 90 days, the largest crypto on the market, Bitcoin, would reach the $1 million level. However, almost two months since the bet, Bitcoin keeps trading below $30,000, and hyperinflation remains a distant prospect thanks to the Fed taking measures to tame prices, which makes @jdcmedlock the winner. The pseudonymous Twitter user plans to spend a portion of the winnings to fund the construction of a cat house for neighborhood feral cats.

I done got rich off PEPE, rapper Soulja Boy says, price up 51%

Not much time has passed since Pepe (PEPE) started gaining popularity on the crypto market, but the meme coin has already managed to attract celebrities to its army of endorsers. Thus, popular U.S. rapper Soulja Boy took to Twitter yesterday to praise Pepe. His post reads "I done got rich off PEPE," which is a quote from a famous song "I Done Got Rich" by American hip-hop artist YEAT. Meanwhile, the frog-themed crypto managed to spike more than 51% yesterday. At the moment of writing, PEPE is seeing even a bigger rise in its price, increasing by 120% over the past 24 hours. The coin is currently trading at $0.000003806, per CoinMarketCap.

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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.