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Here are the top three news stories from the previous day brought to you by U.Today.
XRP goes from 1.1 billion to 100 million: What happened?
With payments plunging from 1 billion to just 100 million, XRP has faced a major decline in on-chain volume. This raised concerns about the asset's liquidity and market health. Despite this development, the price of XRP has remained relatively stable, circling the $3.10 mark. The asset has maintained its bullish momentum following a powerful breakout earlier this year; it is currently trading above important moving averages, holding a strong position above the 50 EMA. It is critical to watch resistance levels at $3.20 and $3.50; if XRP manages to surpass these levels, it could lead to a potential rally toward $4. However, the drop in on-chain activity and active accounts points to the ecosystem cooling off, which may impact future demand and price stability.
Yuri MolchanShiba Inu holders receive urgent security alert: Details
Yesterday, Jan. 30, Susbarium | Shibarium Trust Watch, an X account dedicated to protecting Shiba Inu enthusiasts from scams, issued an urgent security alert for the SHIB community members. The warning follows the reports about fake websites impersonating official SHIB platforms. As stated in these reports, these fraudulent websites aim to deceive users into providing sensitive information, such as private keys and wallet credentials. Thus, Susbarium urged the SHIB community to stay vigilant while sharing three crucial tips that could help them stay safe: verify URLs, keep private keys confidential and seek clarification from trusted sources when in doubt. "Stay safe and protect your assets! Together, we can keep the community secure," wrote Susbarium in the conclusion of its post.
Tesla's net income boosted by Bitcoin profits
According to СNBC, Tesla, the leading e-car manufacturer, has reported a profit of $600 million from its Bitcoin holdings in the fourth quarter. This is attributed to a new accounting guideline from the Financial Accounting Standards Board (FASB) that allows reporting holdings at their current market value. Initially purchasing Bitcoin in 2021, Tesla has since sold approximately 75% of its holdings; at the moment, the company's total Bitcoin holdings stand at $1.1 billion, with no sales occurring in the fourth quarter. Had Tesla not liquidated a significant portion of its Bitcoin, its holdings would currently be valued at around $2.4 billion. Shares of Tesla (TSLA) were up more than 4% in premarket trading. Without the positive impact of Bitcoin profits, Tesla's earnings per share (EPS) would have fallen short of meeting consensus estimates.
Dan Burgin
Vladislav Sopov