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Shibarium Reaches ATH in Daily Transactions, XRP Hits Massive Milestone, SHIB Burn Rate Jumps 2,080%: Crypto News Digest by U.Today

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Wed, 29/03/2023 - 17:06
Shibarium Reaches ATH in Daily Transactions, XRP Hits Massive Milestone, SHIB Burn Rate Jumps 2,080%: Crypto News Digest by U.Today
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U.Today presents the top four new stories over the past day.

XRP hits massive milestone that explains current market rally, here's what's happening

Following a significant price spike above $0.49, XRP's social presence has recently reached its highest level in a year. This heightened social attention could result in more erratic price changes caused by increased trading volume and mainstream interest. Over the past few weeks, XRP has been demonstrating remarkable price performance: since March 21, it has gained 30% in value. XRP holders are closely watching the asset’s price now as it is approaching the critical $0.5 resistance level. If XRP successfully breaks through this key barrier, it could indicate that the token may have more upside potential. However, even though the increase in XRP's social prominence and its price is undoubtedly a favorable occurrence, investors must stay cautious and continue monitoring crucial technical indicators and the latest events in the Ripple-SEC court case.

Shibarium reaches all-time high in daily transactions: details

According to a recent tweet by SHIB enthusiast Lucie Sasnikova (@LucieSHIB), the number of testers on Shibarium has been rapidly increasing. She shared a screenshot showing that the amount of daily transactions on the Layer 2 network of Shiba Inu has surged to an all-time high of over 41,600. Sasnikova then asked her followers if they think Shibarium would be capable of outperforming Base, the Layer 2 Ethereum network just introduced by the Coinbase exchange. The average block time constitutes five seconds, the total number of transactions up to now has almost reached 110,000, and the number of participating wallets on Shibarium equals 51,781.

SHIB burn rate jumps 2,080%, burning weekly amount of close to billion in 24 hours

Thanks to the combined efforts of the Shiba Inu community and the recent launch of Shibarium testnet, significant amounts of SHIB continue being destroyed. This time, over the past day, the SHIB army managed to burn as many meme tokens as were transferred to dead wallets in the past week. Per data provided by the Shibburn tracker, yesterday, a total of 802,428,808 Shiba Inu have been removed from circulation in six transactions. This pushed the burn rate up by 2,080%. Among them was one transfer that moved a whopping 794,858,822 SHIB to an "inferno" wallet. As previously covered by U.Today, during the past week, the SHIB community burned 834,804,461 SHIB in 82 transactions. As of now, per Shibburn, the overall number of burned SHIB tokens constitutes 410,391,857,902,711, which makes nearly half of the initial one quadrillion supply.

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86 Trillion Shiba Inu (SHIB) Held in Binance's Publicly Disclosed Wallets: Details

Ripple and Digital Euro Association unveil CBDC and digital assets whitepaper

On Monday, March 27, the working group of the Digital Euro Association (DEA) presented a whitepaper describing aspects of CBDC, privacy and their interaction with the public. Ripple, an official DEA partner, was also involved in the development of the report. Anthony Ralph, Ripple’s head of digital currency products and solutions, commented on the paper, saying that CBDCs and blockchain technology are built upon "offer enhanced security and access management to help ensure privacy across the various use cases that are being implemented." The main conclusion of the paper is that even though each central bank will have different views and values regarding privacy in the matter of CBDCs and digital assets, there is a need for minimum standards to be upheld globally.

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