U. Today’s Weekend News Digest has already ended; Don’t miss this piece!
To inform you, U.Today has rounded up the top four news stories from last weekend.
Shiba Inu, Dogecoin accepted for payment by food delivery company Uber Eats
Both Shiba Inu and Dogecoin Communities are celebrating a new use case for their beloved crypto adoption, as Uber Eats, a well-known food delivery service, accepts Mem coins as a means of payment through Bitpay. According to a blog post by Bitpay, since Uber Eats does not yet accept direct cryptocurrency payments, this method of payment is exclusive to Bitpay gift cards and Bitpay cards. Furthermore, Panini America, a company specializing in game collection, has announced the upcoming launch of its crypto wallet that will support cryptocurrencies such as Shiba Inu, Bitcoin and others in collaboration with Bitpay. At the moment, SHIB is trading at $0.00010 and DOGE at $0.067 on CoinMarketCap.
Bitcoin, Ethereum and altcoins show signs of an impending price move
The most popular metric of sentiment, the MVRV divergence, suggests that Bitcoin, Ethereum and other altcoins are currently “underbought”. According to the on-chain analytics company, these crypto assets have hit the historical MVRV level at which the price can be expected to reverse the current losses. However, it is difficult to predict when this will happen. According to Glassnode, several floor formation signs are currently glowing for Bitcoin. However, it is worth noting that all models and historical precedents can be tested when it comes to determining a bear market for BTC. Cryptocurrency analyst and economist Alex Kruger believes that bitcoin may have surrendered during the market crash two weeks ago. He emphasized that trading volume reached its peak at this time, a sign of capitulation, producing a significant bottom.
Ripple: Colombian Government Ready to Use XRPL Blockchain for Land Registry
PeerSist Technology, A Wave The Barcelona-based partner and software development company has announced the launch of Colombia’s first National Land Registry on the XRPL blockchain. The solution is implemented for Colombia’s national land agency, “Agencia Tierras” and is based on the XRP stamp, which enables digital assets to be registered on XRPL and their authenticity to be verified with a QR-code. Meanwhile, Ripple CTO David Schwartz has shared the release of Cleo 1.0, an XRP Ledger API server that aims to increase the scalability of access to XRPL data. The released XRP Ledger API Server hopes to improve throughput for API requests, reduce memory usage and storage overhead, and allow for easier horizontal scaling.
“Black Swan” Writer Says Bitcoin Will Fail Even If It Reaches $100,000
In a recent tweet, naseem taleb Poured cold water on the flagship cryptocurrency, bitcoin. The famous mathematician said that even if the flagship crypto rises to $100,000 during another bull run, it will still be a failure. He believes that bitcoin, in his opinion, has not delivered as a hedge against inflation and even operates with the opposite properties. Taleb has also targeted so-called “bitidiots” such as El Salvador’s President Nayib Bukele who still claim bitcoin is cheap. Last week, Bukele bought another 80 bitcoins, despite the fact that El Salvador lost more than $50 million due to his poorly timed bitcoin purchases. Taleb reacted to the purchase of the country by thanking people on the other side of the business for “selling cheap”.