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Below are the top 3 news stories of the past day from U.Today.
Shiba Inu (SHIB) withdraws from Trionaire Club as of today.
Yesterday’s on-chain data demonstrated that the total amount of Shiba Inu has decreased to 895.12 billion SHIB, resulting in the meme coin leaving the trillionaire club. The cause of this change in the situation was a decrease in the volume of transactions in the whale layer, with the number of large transactions dropping to a low of 44 in 24 hours. The decline in whale activity threatens the Shiba Inu’s short-term prospects, as large investors typically do. Provides significant price support through significant buy-in. The market is now more reliant on retail traders, and with the whales no longer involved, it will be difficult for SHIB to reach its previous highs. According to technical analysis, Shiba Inu is close to important support levels and there are no strong positive signals. This indicates a possible downtrend unless whale investors re-enter the market to increase trading activity.
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Ripple CTO puts an end to concerns about using XRP
As Ripple prepares to launch its RLUSD stablecoin, many in the XRP community have begun to wonder if XRP is still needed in the XRP Ledger (XRPL). The community’s concerns caught the attention of Ripple’s CTO, David Schwartz. In a recent X post, XRP remains essential to maintaining network security against spam attacks because the public ledger requires limited assets to ensure only valid transactions are processed. I explained that there is. If XRP were not required for each transaction, XRPL would face a huge number of requests and the ledger could become unstable. Schwartz’s remarks make it clear that despite the introduction of RLUSD, the role of XRP is important and has not changed. Overall, his comments reaffirm that XRP remains the core of XRPL’s operations, even as new assets are added.
If the Litecoin ETF hype causes unexpected inflows, what happens next?
Currently ranked as the 19th-ranked cryptocurrency, Litecoin (LTC) has seen significant inflows recently, largely due to excitement over the potential of Litecoin exchange-traded funds (ETFs). Last week, LTC had an inflow of $1.8 million, bringing the monthly total to $4.5 million and the year to $43 million, increasing total assets under management to $151 million. Interest in Litecoin increased after Canary Capital filed with the SEC to register the creation of an LTC ETF, with the price of LTC increasing by 7.5% following the announcement. Additionally, Litecoin has reached a significant milestone with the highest average number of transactions among the top cryptocurrencies over the past six months. These developments demonstrate strong community support and a positive outlook for Litecoin, especially considering the potential for ETF approval.
