U.Today – Take a look at what's happening in the world of cryptocurrencies by reading the top three news stories from U.Today.
Michael Saylor Offers Crucial Advice As BTC Price Struggles
Enthusiasts in Prague recently had the opportunity to receive crucial BTC advice from Michael Saylor, former CEO of MicroStrategy, during his recent appearance at the Prague BTC event as a speaker. The topic of the billionaire's speech was “21 Rules of Bitcoin,” in addition to other important theses that Saylor wanted his audience to remember, such as “You'll never finish learning about Bitcoin” or “Bitcoin is for everyone.” In Saylor's opinion, anyone who owns Bitcoin should never sell it. “You don't sell your Bitcoin. What do I mean? Bitcoin is energy. Bitcoin is life. Don't waste your life. Conserve your energy… Don't let the fire go out. When the fire is what's keeping your family from freezing, Don't let the fire go, don't throw yourself off a cliff,” he said.
SHIB soars 12,842% in consumption rate with an unexpected price turn
According to the latest data provided by tracking platform Shibburn, the token burn rate saw a notable increase in the previous 24 hours. The increase came as a result of the SHIB community transferring 12,047,795 SHIB to dead-end wallets, with the three largest transactions transporting 5,072,279; 5,078,720 and 1,000,000 SHIB. This increased the burning rate by an impressive 12,842.37%. The increase in the burn rate came despite the dramatic drop in the price of SHIB that was observed since Monday morning. However, at the time of writing, the meme token managed to recover somewhat, trading at $0.00001813, an increase of 2.86% in the last 24 hours, according to data from CoinMarketCap.
(ADA) Soars 162% Despite $435 Million Market Drop
Data provided by CoinMarketCap shows that yesterday, Cardano trading volume skyrocketed by 162%, reaching $574.9 million. This increase is noteworthy, particularly in light of the overall market slowdown, which has resulted in $435 million in cryptocurrency liquidations. There could be several causes for the increase in ADA trading volume, but one possibility is that investor positioning is at play. Higher volatility frequently leads to higher trading volume as a result of traders buying and selling in large quantities. Cardano has reportedly recently gained popularity among institutional investors, which may also explain the increase in trading volumes. Currently, ADA is trading at $0.384, up 3.18% in the last 24 hours, according to CoinMarketCap.
This article was originally published on U.Today.
