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Here are the four most important news stories from the past day, brought to you by U.Today.
XRP is up 26% on the week, here are two factors that contributed to the recent surge
The latest on-chain data shows that the price of the Ripple-linked XRP token is up 26% over the past week. The token has outperformed top cryptocurrencies like Bitcoin and Ethereum, which are currently down 5% and 11%, respectively, over the past seven days. One of the reasons for such an increase in value is increased trader optimism, with positive developments in the ongoing Ripple lawsuit and the CFTC commissioner’s visit to Ripple Labs contributing to this. Another reason is the high whale movement over the past few days: according to WhaleAlert, Ripple moved 30 million XRP on September 21, while the previous day another 261 million XRP coins were moved by whales between wallets on various top exchanges.
If Ripple Wins Against SEC, Entire Crypto Industry Will Go Parabolic: David Gokhshtein
Former US Congressional candidate David Gokhshtein recently commented on how Ripple’s potential victory over the SEC could affect the crypto industry. He believes a victory for the fintech giant will inspire the entire space to soar. This isn’t the first time Gokhshtein has expressed this type of narrative. Earlier this month, he tweeted that if Ripple wins, not only XRP will withdraw, but every legitimate crypto platform as well. And a year ago, the founder of Gokhshtein Media shared the same thought. Additionally, Gokhshtein agreed with Ripple CEO Brad Garlinghouse that the outcome of a potential Ripple win would also signal the emergence of clarity around crypto regulation.
Cardano’s big day is coming, whales grab ADA at the last minute
Yesterday, the Cardano community celebrated the successful implementation of the long-awaited Vasil hard fork. Hours before the upgrade, ADA returned to the top 10 cryptos for the top 100 BSC whales thanks to their rush to collect as many tokens as possible. ADA is currently trading at $0.4515. The Vasil network upgrade took place in epoch 365 on September 22 at 21:45 UTC, and the Plutus V2 cost model network upgrade will take place in epoch 366 around September 27 at 9:45 clock (UTC). Vasil introduces a new version of Plutus, Cardano’s native smart contract language. The IOG team and the Cardano Foundation have been preparing for the upgrade for months, working around the clock to bring the five-year-old platform to a new era.
Shiba Inu developer shares new details about burning SHIB with winnings from the game
Shiba Inu lead developer Shytoshi Kusama recently announced that 5% of profits from the new game Shiba Eternity will be burned. He also assured the community that he would not pocket the rest of the profits. According to Kusama’s latest tweet, he’s being extra cautious until he has a perfect explanation of what’s happening outside of the burn. As reported by U.Today, Kusama announced burns from the game last week. After some complained that the percentage of future profits allocated to burning SHIB was too low, the lead developer responded to the criticism by advising the curious to look at earnings from similar games like Hearthstone and ” to recalculate”.