U.Today – Check out the top three stories from last weekend, brought to you by U.Today.
0 (SHIB) in 24 hours, what's going on?
On Saturday, September 21, the SHIB community spotted unusual figures for the Shiba Inu burn rate. According to data provided by the Shibburn X account, on the aforementioned day, 0 SHIB tokens were burned, implying an extraordinarily bearish reading for this metric. It is unclear how such a situation occurred, particularly given the low price of SHIB, which typically encourages token burning. The anomaly in the number of tokens destroyed raised questions about the effectiveness of the recently launched ShibTorch portal, which was intended to automate the token burning process, either due to the portal not working as projected or due to the decline in transactions on the network, leading to a relatively smaller number of tokens being burned. However, according to a recent update by U.Today, later on September 21, the burn rate figures increased by 547%, with as many as 1,746,465 SHIB burned.
Satoshi Era Wallet Activated After 13 Years
After more than 13 years of inactivity, an ancient Bitcoin wallet containing 59 Bitcoin valued at approximately $3.8 million woke up last Friday, September 20. The activation coincided with a significant surge in the Bitcoin price, during which the flagship cryptocurrency briefly crossed the $64,000 mark for the first time since late August. However, the wallet’s awakening is unlikely to be directly related to the recent price surge, as no consistent pattern has been observed with such reactivations. It is interesting to note that this is the first time that a Bitcoin wallet with such an impressive period of inactivity (over 13 years) has become active during this month. However, later in the weekend, another ancient wallet followed suit; as U.Today reported, on Sunday, a BTC address containing 50 Bitcoins emerged from a hibernation lasting 14 years.
Bitcoin (BTC) and BlackRock (NYSE:) Victory Commented on by Top Bitcoiner Angel Investor
Last Friday, the SEC approved BlackRock’s Bitcoin options, which will be traded on the Nasdaq under the ticker IBIT. The development caught the attention of prominent figures in the cryptocurrency world, including MicroStrategy co-founder Michael Saylor, who praised the approval, stating that it would “greatly accelerate institutional adoption of Bitcoin.” This allows institutional investors to interact with Bitcoin without the complexities of directly owning the cryptocurrency. Anthony Pompliano, an angel investor and Bitcoin advocate, echoed Saylor’s sentiment, suggesting that this move will increase institutional adoption, while also reducing Bitcoin’s volatility and limiting its “explosive upside.” However, Pompliano cautioned investors to temper their expectations regarding future returns, as Bitcoin may not generate the same high returns seen in the past.
This article was originally published on U.Today
