U.Today – Don't miss out on anything happening in the world of cryptocurrencies with U.Today's top three stories of the past day.
Mt. Gox started sending $2.4 billion in (BTC)
According to a recent post by Lookonchain, yesterday, July 16, the defunct Mt. Gox exchange transferred 44,527 BTC worth $2.84 billion to an internal wallet. The most likely reason behind this move by the exchange is its preparation to return funds to those who were victims of the notorious 2014 hack. Later that day, Mt. Gox was seen moving 48,641 BTC worth $3.1 billion to the Kraken exchange. This development confirms the aforementioned theory of an upcoming return, considering that Mt. Gox chose Kraken as one of the exchanges to help distribute the lost BTC to creditors. Meanwhile, the movement of such large amounts of Bitcoin sent shockwaves through the market, resulting in rapid increases in volatility in the BTC price. Following the transactions, Bitcoin quickly dropped from roughly $65,000 to $63,315; However, the flagship cryptocurrency managed to return to the $65,000 level, where it is currently trading.
Shibarium's 's skyrockets with 450% new users
Data from Shibariumscan shows that yesterday, the number of new accounts on Shibarium, Shiba Inu’s layer 2 solution, increased by 450%; while the day before, this metric stood at just 6; in the next 24 hours, it reached the mark of 27. The increase in new users indicates the growing popularity of the network. In addition, there was a 23% increase in the total number of active accounts, from 489 to 602. The increase in new users occurred at the same time as the increase in the amount of tokens paid as fees using BONE. Thus, transaction fees increased from 19.31 BONE to 40.14 BONE. Against the background of the influx of new accounts and the increase in transaction amounts, the network’s transactional activity also increased. Thus, the number of transactions has skyrocketed to 4,319 daily, which is 35.6% more than the previous day.
Garlinghouse says the company is hiring “much less” in the United States
Ripple CEO Brad Garlinghouse made an appearance at Fortune’s flagship Brainstorm Tech summit on Tuesday, July 16. Among other things, Garlinghouse spoke about the company’s hiring strategy, mentioning that 75% of Ripple’s hires had been outside the United States over the past two years. “That’s a sad reality,” he added. The CEO also stated that 95% of Ripple’s customers are not from the United States. According to Garlinghouse, the company saw a high level of staff turnover following the December 2020 lawsuit issued by the SEC against Ripple. However, the company managed to achieve record growth numbers since expanding outside the US. “The products that we sell, the solutions that we enable are very global,” Garlinghouse explained.
This article was originally published on U.Today
