Here are the top four news stories over the past day presented to you by U.Today.
Welly to join Shiba Inu burning bandwagon
According to Welly’s recent post on Twitter, it will participate in burning SHIB tokens “in different ways.” They include burning an undisclosed percentage of its net profits. More details about Welly’s plans to boost the scarcity of Shiba Inu were promised to be revealed during an upcoming ask-me-anything session. Previously, the company announced that it would distribute a portion of its profits to the holders of its NFTs that were released earlier this year.
As reported by U.Today, the Italian fast-food restaurant partnered with Shiba Inu last February and went through a full rebrand since then. One week ago, Welly prided itself on receiving roughly 300 franchise requests.
Arthur Hayes: Bitcoin will hit $1 million in eight years
Arthur Hayes, former CEO of BitMEX, has shared his most recent prediction regarding the price of Bitcoin, according to which the flagship crypto could reach $1 million by 2030. In the meantime, the price of gold could surge to up to $20,000, says Hayes. He also mentioned the so-called "HODL culture" that urges investors not to sell their coins at any price and appeared thanks to Bitcoin's meteoric rise from zero to a trillion-dollar asset class. Hayes then compared Bitcoin to a virus that will “infect” the portfolios of sovereign countries and later start spreading "exponentially."
UAE's real estate giant starts accepting cryptocurrencies
Damac Properties, a real estate giant located in the United Arab Emirates, has announced that from now on, its clients will be able to pay with the two leading cryptocurrencies, Bitcoin and Ethereum. According to Damac’s general manager Ali Sajwani, the company’s move to adopt crypto is a part of its digital transformation effort. In addition to that, the company will invest roughly 367 million UAE dirhams ($100 million) into its new Metaverse project that aspires to build virtual cities.
115.3 million XRP sent by Ripple and large exchanges to this destination
Yesterday, Whale Alert tracking service spotted Ripple and a couple of large crypto exchanges moving an eye-popping 115.3 million XRP coins, with the fintech giant shifting more than half of this amount. The total sum of tokens shoveled comprises $74,814,502 in fiat. Ripple made two transactions worth 50 million and 20 million XRP. The destination for the first transaction was Ripple's reserve wallet, RL18-VN, and 20 million coins were sent to Coins.ph, a Ripple-powered ODL platform. The rest of the aforementioned XRP amount was sent from Bittrex to Bitstamp (30 million XRP) and Coinone exchange (15.3 million XRP).