Keep an eye on the crypto industry’s happenings with U.Today’s news digest!
U.Today presents the top four crypto news stories over the past day.
Shiba Inu (SHIB) can now be traded against Korean won on Upbit
According to a recent announcement, Shiba Inu has become available for trading against the won on Upbit. Besides, the leading South Korean exchange now allows its users to trade the GAL token against Bitcoin (BTC). As previously reported by U.Today, last week, Upbit temporarily suspended deposits and withdrawals for the Stellar (XLM) cryptocurrency. Upbit is one of the country’s most popular exchanges. Launched in 2017 by Dunamu, Upbit has quickly grown to become one of the biggest digital asset trading platforms in Southeast Asia.
100 million XRP kicked over by Ripple, here’s what’s happening
According to Whale Alert crypto tracker, a massive transaction of XRP took place yesterday. The transfer was made by the Ripple fintech giant and comprised 100 million XRP worth $38,926,418 in fiat. The data shared by Bithomp shows that the funds were shifted to one of Ripple’s additional wallets to be moved further: one million XRP from that sum has already been transferred to an address with an unregistered owner. Meanwhile, XRP seems to be stuck in the $0.38 range, still impacted by the SEC-Ripple lawsuit, which is anticipated to be resolved later this year.
Ripple CEO to speak at WEF
In a tweet yesterday, Ripple CEO Brad Garlinghouse shared that he was going to discuss “Finding the Right Balance for Crypto” along with renowned global thought leaders at the World Economic Forum (WEF). Moderated by Bloomberg reporter Stacy-Marie Ishmael, the panel took place today at 3:00 p.m. CET. The virtual event is part of this year’s WEF Annual Meeting, which focuses on creating a new framework of global collaboration that combines economic advancement and social progress using technology solutions.
Shiba Inu L2 Shibarium launch might be surprisingly good for DOGE, analyst says
Popular crypto analyst @DefiIgnas has recently published a thread on Shibarium, an upcoming Layer 2 platform for Shiba Inu. In the thread, he shared a review of what we know so far about Shibarium and explained why its launch is a double-edged sword for the prospects of the SHIB narrative. According to the analyst, even though the community is eagerly awaiting Shibarium, it is unclear whether SHIB will benefit from it. On the one hand, it would become an example of how the protocols can build L2s themselves. On the other hand, if investors do not find SHIB tokenomics in 2023 attractive, its price will plunge. This hypothetical collapse could be beneficial for DOGE, says the analyst.