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XRP Price Rises as Ripple Lawsuit Expectations Soar, Shibarium Attracts Over 3,000 Intake Forms, SHIK Plunges 96% after Vitalik Buterin’s Selling Spree: Crypto News Digest by U.Today

Wed, 03/08/2023 - 15:59
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Valeria Blokhina
Take a closer look at the latest crypto events with U.Today’s news digest!
XRP Price Rises as Ripple Lawsuit Expectations Soar, Shibarium Attracts Over 3,000 Intake Forms, SHIK Plunges 96% after Vitalik Buterin’s Selling Spree: Crypto News Digest by U.Today
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Here are the top four news stories over the past day presented to you by U.Today.

XRP price rises as Ripple lawsuit expectations soar: details

The XRP community has been stirred by recent updates in the Ripple-SEC lawsuit provided by attorney James K. Filan, who tweeted that Judge Torres had issued a ruling on the parties' motions to preclude expert testimony. The news affected not only sentiment among community members, but also XRP’s price: on March 6 (the day the ruling was issued), the asset rose from lows of $0.357 to intraday highs of $0.374. At the moment of writing, XRP is changing hands at $0.3957, up 5.7% over the past 24 hours. In the meantime, two other attorneys, John Deaton and Fred Rispoli, have shared their takes on the time remaining until summary judgment. They both agreed that the judgment could be coming at any moment at this point, with Rispoli saying that he expects the ruling this month.

Shiba Inu's Shibarium attracts over 3,000 intake forms from builders as launch nears

According to a recent tweet by @LucieSHIB, a Shiba Inu community-focused Twitter account, the number of projects that submitted their forms to the Shibarium intake system has surpassed 3,000. The system was introduced by the lead developer of Shiba Inu, Shytoshi Kusama, at the end of February, to much fanfare. As stated by Kusama in his ShibaSwap blog, the intake system will allow the identification of the best projects and connect them with those who can offer support or assistance. Besides, it will also help Shibarium grow its reach with professional companies and find the right validators. Meanwhile, the Shiba Inu metaverse is getting ready to debut at the SXSW event that is taking place March 10-19.

Shiba Inu (SHIB) counterpart SHIKOKU plunges 96% as Vitalik Buterin sells 5 trillion SHIK

Data provided by the Lookonchain service shows that Ethereum co-founder Vitalik Buterin has dumped numerous tokens, such as 50 billion MOPS, 10 billion CULT and 500 trillion SHIKOKU (SHIK). Such a move was interpreted as a bearish sign for the market, with the SHIK token’s price plunging 96% due to the lack of liquidity on the market. This is not the first time Buterin is selling tokens, and his actions have often been scrutinized by market analysts. However, the current selling spree is particularly noteworthy, as it may indicate that the Ethereum co-founder could start losing confidence in the market's short-term prospects. In the meantime, the prices of such major coins as Bitcoin (BTC) and Ethereum (ETH) are also experiencing a significant correction, dropping by double-digit percentages in recent weeks.

200 billion Shiba Inu (SHIB) grabbed by whale as Shytoshi Kusama keeps focus on Shibarium

Per WhaleStats’ data, yesterday, anonymous whale "BlueWhale0073" acquired almost 201 billion SHIB. This amount of meme tokens comprises $2,240,026 in fiat equivalent. The purchase follows as the asset has been demonstrating a weekly dip of 10%, according to CoinMarketCap. Apart from that, Shiba Inu lead dev Shytoshi Kusama recently tweeted that he intends to stop following any projects linked to Shibarium. He explained his decision by saying that the Layer 2 solution is becoming more and more falsely used to promote these projects. From now on, Kusama’s only focus will be Shibarium. The developer also reminded followers that once Shibarium launches, its only official decentralized exchange will be ShibaSwap.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.