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Impact of Token Burning on SHIB Price

Tuesday. February 4 at 10:00 PM

1 min. read

Shibburn's Ethereum chain data reveals a significant surge in Shiba Inu (SHIB) token burning over 24 hours. Despite the increased burn rate, SHIB prices plummeted following a recent spike. The SHIB community burned 4,618,788 tokens in a day, marking a 567.83% rise in burn rate. Major transactions eliminated large amounts of SHIB tokens from circulation, with a total of 1,913,509 and 1,425,595 tokens moved to inactive wallets. Weekly burns totaled 1.163 billion tokens, with a 3.829% increase in burn rate. The circulating supply of SHIB currently stands at 584.28 trillion tokens. The token burning frenzy, initiated by Ethereum co-founder Vitalik Buterin, has not translated into the anticipated price surge for SHIB. Despite recent gains, SHIB prices dropped by 11% in response to market fluctuations, including Bitcoin's movements and global economic factors.

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Impact of Token Burning on SHIB Price

Tuesday. February 4 at 10:00 PM

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Exploring Crypto Airdrops: Notable Opportunities for Investors

Monday. February 3 at 6:00 PM

As the crypto markets head into the second month of the year, Bitcoin's price hints at potential downside. Analysts anticipate increased market volatility, making crypto airdrops an attractive option for investors. Airdrops, which distribute free tokens to expand a project's user base, offer a way to benefit without upfront investments. This week, four noteworthy airdrops are worth monitoring. Buzz.fun, a Meme Coin Exchange, is set to revolutionize token launches and trading. XOS, a Layer 2 solution on Solana, focuses on scalability and performance. MetaBrawl combines blockchain tech with competitive gaming. Venice, a decentralized AI platform, prioritizes user privacy. These airdrops present an exciting opportunity for crypto enthusiasts to engage with new projects and earn tokens. However, investors should conduct thorough research before participating.

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Scottie Pippen's Crypto Journey

Monday. February 3 at 12:00 PM

Basketball icon Scottie Pippen has recently made waves in the crypto world with his unique and intriguing statements and images. Pippen's foray into the crypto space began with a project to tokenize a basketball from his career, evolving into a 'trash-talking AI sports agent.' His posts include AI-created images with bold claims about Bitcoin and even dreams of meeting Satoshi Nakamoto. Pippen's bold assertions, such as meeting Satoshi in 1993, have garnered attention, including a viral moment with Michael Saylor. He views Satoshi as an idea that emerged during the Chicago Bulls' era. As crypto markets surge, Pippen continues his 'bull-posting,' drawing connections between the Bulls and crypto. His recent posts extend beyond Bitcoin to include Ethereum's Vitalik Buterin. While some question the accuracy of his depictions, Pippen's unique expression in the crypto world has captivated many.

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Ripple's Q4 2024 XRP Markets Report Overview

Sunday. February 2 at 5:00 PM

Ripple's latest report for Q4 2024 highlights a significant resurgence in on-chain activity, trading volume, and institutional demand for XRP. Despite a slight decline in transaction count on the XRP Ledger, overall network engagement increased. The introduction of the Automated Market Maker feature led to a substantial surge in swap volume, boosting trading on the XRPL DEX. Network adoption reached record highs, with a notable increase in new wallet registrations. XRP's price saw a substantial rise, resulting in higher transaction fees and token burns. The report also mentions the surge in meme coin activity on the network and the accelerated issuance of new tokens on XRPL. Ripple attributed this growth to the easing regulatory environment and XRP's strong performance post the US presidential election. The surge in trading volume was driven by long-term buyers, reflecting growing confidence in XRP's future amidst improving regulatory clarity and institutional interest.

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