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U.Today brings you the top three news stories from the past day.
SHIB issues 324 million tokens in one week with 1,020% burn rate spike
Data provided by the Shibburn On Monday, October 21st, this indicator surged by 389%, with 6,314,537 SHIB sent to inactive wallets. Meanwhile, the burn rate spiked 1,020% over the past seven days, with a total of 324,982,323 SHIB burnt. This strong performance demonstrated the community’s commitment to reducing supply and served as a reliable indicator of SHIB’s market resilience. Overall, the sharp increase in burn rate contributed positively to SHIB’s price stability. According to CoinMarketCap, at the time of writing, SHIB is down 0.55% in the past 24 hours, trading at $0.00001822.
The number of active wallets on the XRP Ledger has skyrocketed
According to Santiment, the XRP Ledger has recently seen a significant increase in the number of active wallets, with the number of unique active wallets increasing to 35,799, the highest level in three months. Additionally, the ledger has recorded a peak in newly created wallets per day since March 14th. The reason for this sudden spike in activity is still unknown. Meanwhile, this surge in activity comes in the wake of the SEC’s appeal in the Ripple case, which caused a sharp drop in the price of XRP and led to increased negativity towards the asset. At the moment, XRP is trading at $0.53, a small drop of 2.03% over the past 24 hours. This indicates that the increase in wallet activity has not had a significant impact on the price of the token. In particular, a small number of major wallets dominate transaction activity, with 10 wallets accounting for 58% of all transactions.
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Vitalik Buterin announces four major milestones for Ethereum
In a recent speech at a Shanghai event, Vitalik Buterin outlined four major benchmarks that Ethereum aims to achieve over the next few years. Initial benchmarks reach over 100,000 transactions per second through a layer 2 solution, significantly increasing Ethereum’s scalability and efficiency for decentralized applications (dApps). Second, enabling cross-chain transfers within 2 seconds allows cross-chain transactions to occur almost instantly. The third benchmark is ensuring a uniform user experience across the ecosystem. This is highlighted by new standards such as the ERC-7683 protocol to reduce errors in cross-chain transactions. Last but not least, Ethereum Virtual Machine (EVM) is subject to cross-chain security. According to Buterin, having robust cross-chain security is paramount. Successful realization of these goals could positively impact Ethereum’s market position and attract more developers and institutional investors.
