Crypto News Digest by U.Today
Let’s see what the last weekend of the month has brought us in terms of crypto news with U.Today’s top four stories.
SHIB tweets mysterious teaser, community is excited
On Friday, the official Twitter account was created Shiba Inu posted a teaser tweet, saying “Shib is …” implying that followers are sharing what the SHIB token means to them. The tweet quickly caught on among the SHIB army, garnering 5,053 comments with a variety of responses, such as “Doge killer,” “hope,” “the best cryptocurrency,” etc. The official Shiba Inu Twitter handle frequently posts updates about SHIB ecosystem and hints related to its metaverse. Meanwhile, the big, long-awaited Layer 2 upgrade “Shibarium” is still incomplete and hasn’t been released yet, despite users constantly asking “wen Shibarium?”
Is Ripple Ready? SWIFT, payment platforms to adopt upgrade in the coming months
According to an official announcement, SWIFT, a global financial messaging service, has accepted its community request to start ISO 20022 migration in March 2023. ISO 20022 is a global data standard for modern payment messages between financial institutions and payment systems. While most payment systems in both Europe and the US plan to migrate to this standard either in the spring of 2023 (ESB, Clearing House Automated Payment System [CHAPS]FedNow) or spring 2025 (Fedwire), RippleNet the network was designed from the start with ISO 20022 standards in mind. In 2020, Ripple joined the ISO 20022 Registration Management Group (RMG) standards body, becoming the first member to focus on Distributed Ledger Technology (DLT).
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DOGE finally has use case, says Cardano founder; The Dogecoin creator strikes back
Elon Musk’s closing of the Twitter purchase has created a lot of excitement all around Dogecoin and its potential adoption by the social media giant. Following this, Cardano founder Charles Hoskinson created a poll, asking his followers if he and his team should pitch to Twitter post-quantum ultrafast DOGE on Cardano and create a new use case for the meme coin. Although 80% of participants voted in favor of the initiative, not everyone liked it, especially Dogecoin’s Billy Markus. In his response to Hoskinson, Markus called the Cardano creator “#massivehypocrite”, and asked him if he suddenly stopped hating DOGE. Back in April 2021, Hoskinson recorded a video where he extremely harshly called DOGE a bubble.
SHIB burn rate rises 443% as price hits six-week high
According to the website Shibbur, on Saturday, Shiba Inu’s the burn rate increased by 443%, with only 14 million SHIB burned the previous day. Meanwhile, the price of its Dogecoin competitor hit its highest value in over six weeks – $0.00001283. A year ago on October 28, 2021, Shiba Inu made an impressive bull run to reach the record $0.000088. Despite the impressive move, SHIB is still down 86% from its all-time highs, trading similarly to other cryptocurrencies that have been hit by bearish market conditions. At the time of writing, SHIB has changed hands at $0.0000123, down 1.26% in the last 24 hours. Shiba Inu also reclaimed its position as the 13th largest cryptocurrency.
