U.Today has prepared the top four news stories over the past day.
XRP community confused by Uphold’s announcement
Uphold, a popular multi-asset trading platform, recently made an announcement about relisting the XRP cryptocurrency. One could expect that the news would receive positive feedback from the XRP community, but this time that was not the case (at least not in the comments section of @XRP_Productions, a well-known Twitter user who helped the announcement go viral). Some community members accused Uphold of being “hungry for engagement” as the Ripple-affiliated token has always been available on the exchange, which makes the announcement no news at all.
Shytoshi Kusama's recently deleted message leaves SHIB Army puzzled – Shibarium hint?
It feels like the enigmatic aura surrounding Shytoshi Kusama and the Shibarium Layer 2 solution will never fade away, as the SHIB lead developer has once again left SHIB enthusiasts scratching their heads over his post. According to @Rachelkillings Twitter user, on March 1, Kusama tweeted the following: “Confirming to the maker…” The message, however, was then deleted by the developer, with the only confirmation of it ever existing being a screenshot attached by @Rachelkillings. The SHIB army reckoned that the tweet might be connected with Kusama getting in touch with Unification Fund (another contributor to Shibarium's development) to finalize things regarding the project.
Baby Doge Coin (BabyDoge) burns massive 1 quadrillion tokens, here's price reaction
Per recent data provided by BscScan, on Wednesday, March 1, one quadrillion BabyDoge tokens worth over $2.6 million were sent to the burn address. In addition to this, $13,000 worth of BabyDoge was bought and incinerated as well. According to Burn BabyDoge Twitter account (@babydogeburn_), an astonishing 4.99 trillion BabyDoge worth $12,600 were transferred to dead wallets on the same day. Back in mid-February, the team behind Baby Doge Coin announced the release of the burn portal to put burning power in the hands of the community and then, ultimately, to reduce the BabyDoge supply. Soon after the launch of the burn portal, Baby Doge Coin’s price started to gradually decline, suggesting that the massive burn has not impacted the price in the short term.
Shiba Inu (SHIB) shows two recovery scenarios as burn rate hits 160% increase
Recently, Shiba Inu's burn rate has massively increased, spiking as high as 160%. This sparked rumors about the asset's recovery, and here are two potential scenarios for SHIB recovery that might occur in the coming days. The first scenario is a drop in the local support level. If SHIB breaks below the range of $0.000011 and $0.000013 and falls to the next support level around $0.000010, this could act as a point of recovery for SHIB. The second scenario is a rise in the burn rate. The recent increase in the burn rate has led to a reduction in the number of SHIB tokens in circulation. As a result, this could lead to a reduction in selling pressure and, consequently, to SHIB’s recovery. However, one should note that a high burn rate does not always guarantee price appreciation.
Arman Shirinyan
Alex Dovbnya
