U.Today: Read the top three stories from U.Today to find out what's happening in the world of cryptocurrencies.
On the verge of the biggest breakout in price history
As can be seen from the chart provided by TradingView, Ripple’s affiliated token, XRP, appears to be gearing up for the biggest breakout in its price history. On the chart, one can see a symmetrical bullish triangle pattern that has formed over the past six years of XRP price performance; two converging trendlines met at the apex as a result of the price showing lower highs and higher lows. The pattern generally indicates that the price may breakout in the direction of the existing trend, which is bullish, if we still follow the case of 2018 (as a reminder, in 2017-2018, during the 315-day rally, the price of XRP surprisingly increased by 60,000%). This suggests that once the breakout occurs, XRP’s bullish momentum will continue. According to the XRP price chart, there is not much left until the pattern is complete. However, the end did not come this year, and most likely it will not come in the first half of 2025 either.
Shibarium close to reaching another important milestone
Inu’s layer-2 solution, Shibarium, is set to hit a major milestone. Data from Shibariumscan indicates that after about a year since its launch, the total number of blocks on Shibarium has reached 6,398,912. With this new record, Shibarium is nearing the 6.5 million milestone, which is a significant step for the layer-2 solution. Meanwhile, total network transactions have increased to 418,989,504, with wallet addresses totaling 1,812,422. Additionally, Shibarium witnessed significant developments last week. As reported by U.Today, Shibarium now has a burn portal to remove excess SHIB tokens from circulation. Another recent development for the layer-2 solution is the introduction of on-ramp features for BONE tokens with Visa (NYSE:) and Mastercard (NYSE:).
risk-free asset, but Samson Mow clarifies crucial nuances
JAN3 CEO and prominent Bitcoin maximalist Samson recently took to the X platform to explain why Bitcoin is a risk-free asset and which groups of market participants it is for, in particular. According to Mow, there are four types of investors for whom the flagship cryptocurrency is undoubtedly a less risky investment than others. These investors are people who have a low time preference, understand money, may suffer from inflation, and/or live in countries with oppressive governments. However, these four factors do not necessarily have to coincide in one person. In addition to the aforementioned post on X, Mow also published another one, in which he stated that the ability of “the plebs” (as he calls average retail investors) to absorb the supply of Bitcoin circulating in the market should not be underestimated.
This article was originally published on U.Today
