XRP Ledger Hits New Milestone, Crypto Lawyer Says Ripple v. SEC Lawsuit About to Sunset, SHIB Bulls Buy Back 2.5 Trillion SHIB: Crypto News Digest by U.Today

Here are the top three news stories over the past day presented to you by U.Today.

XRP Ledger hits new milestone as it prepares to dethrone Ethereum

In a blog post from June 5, the XPPL Labs team announced that its Hooks amendment, a vital element that will expand the range of services available to users, has successfully undergone a comprehensive security audit. The audit in collaboration with cybersecurity firm FYEO lasted from Jan. 31 to March 14, 2023, and the feedback from the company turned out to be "exceptionally positive." As reported by XRPL Labs, no significant security issues were uncovered. Wietse Wind, a prominent ecosystem developer, says Hooks plays a pivotal role in bridging the gap between XRPL and Ethereum. This amendment allows for the creation of customized logic and automation within the core ledger, granting transactions increased intelligence and convenience.

Ripple v. SEC lawsuit about to sunset, crypto lawyer says it portends well for XRP

Yesterday, Bill Morgan, crypto lawyer and well-known XRP supporter, took to Twitter to post a photo of a sunset he had taken. After looking at it later in the day, Morgan wrote, he saw a sign behind the photo — the sun is setting on the Ripple-SEC case, and in his opinion, it could be "a good portent for XRP." The lawyer then added that he later found out the SEC filed a lawsuit against Binance, adding that the Hinman emails will soon be released. "Lucky I'm not superstitious," Morgan concluded. The Binance v. SEC news spread like wildfire within the crypto community, with many of its members, including Binance CEO CZ, calling it an attack on the industry. Morgan agreed, commenting on his post: "It is indeed another step in the SEC's attack on the industry and way past time to unite."

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Shiba Inu bulls buy back 2.5 trillion SHIB as price loses 10%

Data provided by crypto intelligence portal IntoTheBlock shows that after the recent plunge of the SHIB token's price, Shiba Inu bulls made an outstanding buyback, purchasing 2.49 trillion SHIB. In comparison, the number of Shiba Inu tokens sold by major investors during the price drop comprised 2.58 trillion tokens. The buyback occurred amid the market turbulence caused by the news surrounding Binance and the SEC, leading to a 10% collapse in SHIB's price. Despite the setback, the bulls rallied and demonstrated their confidence in Shiba Inu. The price of the Shiba Inu token immediately rebounded from its multi-month low thanks to a tremendous upsurge in buying activity. SHIB is currently trading at $0.000007888, per CoinMarketCap.