Read U.Today’s News Digest to know what’s going on in the industry!
To keep you updated on the events of the past days in the crypto world, U.Today presents the top four news.
56 million SHIB burned despite trouble with Robinhood and Coinbase
In a recent tweet, game developer Travis Johnson shared that he demonstrated another Shiba Inu Burnt with the profits of his “Super Shib Store”. This time around, a total of 56,000,000 SHIB tokens have been sent to the non-spend wallet. Johnson managed to complete his weekly burn despite “Robinhood, trouble with Coinbase” and MetaMask wallet. He didn’t give any details about what the problem was, but in one of his previous tweets, the game developer wrote that he had difficulty sending SHIB tokens through Robinhood. In addition, the “Super Shiba Store” managed to burn 16,525,821 Shiba Inu, which were purchased out of commission. amazon affiliate program Which was announced two weeks ago.
These are the ones who constantly dump bitcoin on the crypto market
data provided by mysterious research Analysts suggest that a certain set of traders and investors are responsible for exerting major selling pressure on the market. While Asian investors mostly pump in bitcoin, and European traders are seeing steady trading session returns, US traders are mostly abandoning their BTC holdings, which became the main sell-off driver in April. The data shows that BTC’s cumulative year-on-year returns declined from 4.22% on April 1 to 32.55% in May during US trading hours. With the US markets opening up, bitcoin and other digital assets are seeing an increase in selling volume, which can be used by retail traders to exit their positions or find better entries.
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Ripple concludes new partnership to expand into European luxury market
After gaining momentum in the Middle East, Wave It is also expanding its presence in Europe. The San Francisco-based fintech giant has partnered with Lunu crypto terminal operator to offer high-end German retailers the ability to receive payments in cryptocurrencies. The partnership is primarily focused on optimizing the exchange of cryptocurrencies for fiat money. Ripple’s Liquidity Hub will be used to solve this task. The combined employment of RippleNet and Lunu’s point-of-sale (POS) terminals will play a key role in providing an opportunity for high-end and luxury retailers to accept cryptocurrency payments in their stores in Europe and the United Kingdom.
UK on its way to becoming a global crypto hub
UK The Ministry of Finance has announced that next year, the country will begin testing blockchain technology in traditional finance operations such as stock trading and bond settlement. Gwyneth Nurse, director general of financial services at HM Treasury, says that the implementation of blockchain is a major way to modernize and improve the efficiency of the United Kingdom’s financial markets. However, according to industry representatives, the UK needs a proper digital currency to take advantage of the benefits of blockchain technology within the market infrastructure. Even though work on the digital pound is already underway, Nurse said that the CBDC under consideration will see the light in 2025.
