Take a look at what happened in the world of crypto over the weekend with U.Today’s top four news stories.
LUNC, USTC and LUNA may rally on this Do Kwon surprise
LUNC, USTC and LUNA, cryptocurrencies of the Terra ecosystem, continue to regularly demonstrate unimaginable price pirouettes on their charts. One such pirouette could happen very soon as Unchained Podcast host Laura Shin announced the appearance of Do Kwon on the show's next episode. As stated in Shin’s tweet, the episode with Do Kwon will be released this coming Tuesday, Oct. 18, and will allow listeners to get answers to the most pressing questions about Terra, its founder and their collapse. Even though Kwon’s appearance could significantly shake up the ecosystem’s cryptocurrencies’ quotations, the risk that the event could be foreshadowed should not be overlooked.
SEC v. XRP: Ripple partner TapJets defends XRP utility in new brief to court
Following the amicus brief filed by Ripple's Filipino partner, I-Remit, another Ripple partner, TapJets private airline, decided to join the case. The company has also filed an amicus brief to support the fintech giant in the lawsuit with the SEC. In its brief, TapJets presented the utility and value of XRP through the use of the cryptocurrency as currency in its use case. Due to the nature of its business, the company could not accept only fiat money. Additionally, the use of XRP helped speed up payments where a conventional bank would not be able to. When the SEC started investigating XRP, exchanges removed the crypto from trading, making it impossible for TapJets to convert it into fiat.
Cardano will surpass Ethereum, top crypto YouTuber predicts
The Twitter crypto community has been agitated by a recent prediction made by controversial cryptocurrency YouTuber Ben Armstrong, also known as BitBoy. He believes that Cardano will eventually surpass Ethereum by market capitalization, expecting this to happen six or ten years from now. Some overly optimistic Cardano supporters amplified Armstrong’s prediction, saying that such a “flippening” is a real possibility in the long term. At press time, Cardano is valued at $12.8 billion. Although quite impressive, this pales in comparison to Ethereum's market capitalization of $156 billion.
“Amazon SHIB burner” about to catch up with September burns
According to an announcement by Travis Johnson, a smartphone game developer who runs “Shib Super Store,” he aims at catching up and then surpassing the amount of SHIB burned in September, even though October is only half over. For burning meme coins, Travis uses the Amazon affiliate program, as well as one from Fiverr and MEXC crypto exchange. As stated in Johnson’s tweet, so far, the overall amount of SHIB burned this month constitutes 84,729,064 SHIB (or $860 in fiat equivalent). Meanwhile, the amount of burns made by the SHIB community has been decreasing recently: last week, only 385.1 million meme coins were sent to dead-end wallets.