U.Today – Discover the latest news that shook the cryptocurrency market in the past 24 hours.
Nearly $500 Million BTC Withdrawal Stuns Coinbase
Whale Alert data reveals a jaw-dropping withdrawal of almost half a billion dollars worth of Bitcoin from leading U.S. exchange Coinbase. A whopping 7,999 BTC, equivalent to $472.8 million, left the exchange’s cold wallet in multiple transactions to an address with the code “13F8P8.” The funds were later distributed to 50 undisclosed addresses in precise amounts of 157 BTC, or $9.27 million each. The motive behind this significant movement remains a mystery, with speculations pointing towards big players like BlackRock accumulating crypto assets despite recent market volatility.
Ripple Burns Stablecoin Tokens
A total of 185 Ripple USD (RLUSD) tokens were burned at the RLUSD Treasury, as reported by @RLUSD_TRACKER. These tokens were destroyed by returning them to the issuer account. Ripple had recently initiated private beta testing for its stablecoin, with 185 RLUSD minted during the process. Access to this new product is currently restricted to select enterprise partners, but it will soon be available to the general public after the completion of beta testing.
Shytoshi Kusama Applauds Shiba Inu’s Gaming Expansion
In a recent announcement, lead Shytoshi Kusama praised Shiba Inu’s transformation into PlayWithShib, along with its shift towards broader gaming ventures beyond NFT card games for smartphones. The project plans to release multiple games on Shibarium, a layer-2 solution, and is gearing up for a significant update transitioning the game from Web2 to Web3 technology. The community is thrilled with these groundbreaking developments in the gaming sphere.
Analysis:
The cryptocurrency market experienced significant movements in the past day, with a massive Bitcoin withdrawal from Coinbase, Ripple burning stablecoin tokens, and Shiba Inu expanding its presence in the gaming sector. These events highlight the evolving nature of the digital asset space and the growing influence of major players like BlackRock and innovative projects like Shiba Inu. Investors should stay informed about such developments to make well-informed decisions and capitalize on emerging opportunities in the market.