Check out U.Today’s News Digest to stay updated on the latest crypto happenings!
U.Today has compiled the top four news stories of the past.
Dogecoin is now available on FTX Japan
As per its official announcement, FTX Japan, one of the top crypto exchanges, started handling Dogecoin in its physical transactions (sales office/exchange) and perpetual transactions on Tuesday, July 5th, 2022. In the future, FTX Japan also intends to offer DOGE trading opportunities, according to a statement on the company’s website. Since Dogecoin’s fame in 2020, Mem Crypto has been listed by several crypto exchanges. In July 2020, OKEx listed a perpetual DOGE/USDT pair. In the same month, Bitfinex announced the listing of MegaDogecoin (MDOGE), which represents one million “normal” DOGEs. The years 2021 and 2022 have also been fruitful for DOGE as it has been accepted by major trading platforms such as Coinbase, Bitso and Kraken.
Shiba Inu burn rate up 155%, over 208 million SHIB sent to dead wallet
data provided by Shibburn The website yesterday demonstrated a significant increase of 155% in the SHIB burn rate, with 208 million meme coins reportedly destroyed. According to data from IntoTheBlock, large SHIB holders joined the action as there was a 153% increase in large transactions during Monday, July 4. An analysis of whalestats of the top 100 Shiba Inu holders also revealed a 6.8% increase in the average Shiba Inu. The balance resulting from the handling of billions of Shiba Inu of crypto whales and an increase in large transactions. In addition, the average Shib price has also increased by 9.4%.
In addition to the good news about the Shiba Inu, You Today reported that the canine coin’s chief dev, shyotoshi kusamaProviding an update on the Shiberium and SHI stablecoins, he said that the latter will be launched in early 2022.
Cardano Makes 13,000 GitHub Commits in June, Becomes Most Evolved Project in the Crypto Industry
cardano It has become the top project by development activity in the last 30 days, receiving a record-breaking amount of money on its GitHub page. This comes as some developers are preparing their applications for the new functions of the upcoming Vasil hard fork, and others are trying to find something to improve on Cardano directly. Additionally, Cardano saw an increase in the number of wallets on the network, Cardano’s network activity is also showing signs of growth and the number of transactions reached 44.8 million in the past month. However, such strong fundamental growth has not helped Cardano’s native asset outperform the market. At the moment, ADA is changing hands at $0.45.
Bank of America Sees Huge Drop in Crypto Users
According to a recent report of bank of america, its usage has seen a drop of more than 50%. The banking institution claims that as of May, the number of customers with cryptocurrency exposure had dropped from less than 500,000 people. For comparison, it reached over one million active cryptocurrency users in November. The most recent data piece emphasizes the deteriorating sentiment of the industry, which was brought on by a significant reduction in market prices. According to David Tinsley of Bank of America, the collapse of the Terra stablecoin led to a correction in the market.
Unlike some other US-based US banking organizations, Bank of America has yet to try its hand at crypto services. CEO Brian T. Moynihan explained in a recent interview with Yahoo! Finances that he didn’t believe the world’s biggest bank was “losing” anything.