Steven Cooper Knows How SHIB May Reach $0.01, India Will Not Introduce Crypto Bill in Budget Session, ADA Approaches $1: Crypto News Digest by U.Today

U.Today presents the top four new stories over the past day:

Here’s how SHIB price may reach $0.01

Steven Cooper, owner of Bigger Entertainment, believes that he knows how to help push the SHIB price toward $0.01. In Cooper’s opinion, the best way to make the canine coin reach the desired level is to build an ecosystem where people are burning SHIB “without even knowing it” through entertainment. By this, the company owner meant selling NFTs, merch and tickets to events for SHIB and then destroying them during so-called "burn parties."

The next burn party will occur on Feb. 14, Valentine's Day. 

India’s crypto bill will not be introduced in budget session

The Indian government seems to have softened its stance regarding cryptocurrencies. As reported by the Hindu Business Line on Monday, the bill seeking to prohibit all privately-issued cryptocurrencies, such as Bitcoin and Ethereum, will not be introduced during the budget session. Instead of banning cryptocurrencies, the government now intends to regulate them. As recently reported by U.Today, India proposed tax regulations for crypto: digital assets will be taxed with a 30% income tax.

ADA approaches $1, IOHK lays out updates on Cardano ecosystem

In a series of tweets, IOHK provided an update on the latest news and announcements from Cardano-based projects. Atomic swap, ADAX Pro, MinSwap DEX, Muesliswap, Flint wallet and others have all reached major milestones in the previous week, according to the update. The launch of a Cardano-based NFT game engine was also a major highlight.

Meanwhile, ADA is slowly drowning to reach the $1 mark after declining from the $1.64 high attained on Jan. 18. At the moment, according to CoinMarketCap, the altcoin is changing hands at $1.06. However, despite the downgoing price action, Cardano whales seem to be accumulating on the dip since the massive price drop on the market was initiated on Jan. 17.

100 million XRP shifted with Binance’s participation

According to WhaleAlert, yesterday, an anonymous user sent 50 million XRP tokens to Binance, the world's biggest crypto exchange by trading volume. However, only a moment later, the same amount of XRP was transferred to another “unknown” crypto wallet. Some in the comment section speculated that this is a whale sending its XRP to sell on the platform run by Changpeng Zhao. The aforementioned XRP data service spotted another large transaction. A total of 45 million XRP were shifted by the leading crypto exchange based in South Korea, Bithumb.