Crypto News Digest by U.Today

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Here are the top four news stories of the last day presented to you by U.Today.

Shiba Inu: Japanese crypto exchange announces SHIB listing

Still more SHIB listing news comes from the “land of rising sun” as one of the largest cryptocurrency exchanges in Japan, BitFlyer, has announced on its Twitter account that it will soon add support for the meme token. However, the exchange has not yet specified the date when SHIB will be available for trading. Despite this fact, in a subsequent tweet, BitFlyer announced a SHIB handling markup with a prize pool of 10,000 yen for 20 eligible winners. As the translation of the tweet from Japanese reads, the promotion will start on March 22 and end the moment it starts dealing with SHIB. Earlier this year, on February 28, OkCoinJapan, the Japanese subsidiary of San Francisco-based exchange OkCoin, listed the Shiba Inu token.

XRP options are now available on major exchanges after the price has moved further

According to a recent announcement by leading cryptocurrency exchange Binance, it expanded its line of XRP-focused investment products. As stated on the exchange’s website, all users will have access to weekly option contracts for XRP/USDT. Apart from XRP, such a product is only available for BTC, ETH and BNB. However, one should note that the contracts are European, which means that their execution is strictly linked to a predetermined future price and date. The first XRP/USDT options with an expiration date on the last day of the month have become available today, March 23, and will be updated every Thursday. It is interesting to note that new XRP investment options were made available on Binance the day after the token demonstrated the best price action among major cryptoassets: on March 21, XRP increased by more than 30%, reaching its four-month high of $0.493.

Shiba Inu (SHIB) burn rate up a whopping 4600%, what’s going on?

Per recent on-chain data, Shiba Inu saw a significant increase in the burn rate, which rose to almost 5000%. Nevertheless, such an impressive growth seems to have no effect on the asset’s price as it showed no noticeable change in the last two weeks. Theoretically, the sharp increase in Shiba Inu’s burn rate should lead to an increase in the token’s price due to the dwindling supply. However, the price has remained relatively stable, confusing investors. While analyzing the Shiba Inu’s price movement, it is also important to consider the influence of so-called whales. With SHIB’s stagnant price despite the increased burn rate, it is possible that these large investors are closely watching market conditions and waiting for a strong indication of the token’s future price before making their next move.

Fashion brand Guess now accepts Bitcoin (BTC), Tether (USDT) in Lugano

Plan B, a joint initiative of the Swiss city of Lugano and Tether, announced a partnership with the global fashion brand Guess. Thanks to this partnership, Guess will now be able to accept cryptocurrency payments in Bitcoin (BTC) and Tether (USDT) in its stores in Lugano. Apart from that, more than 150 shops and businesses in the Swiss city, including McDonald’s, accept Bitcoin, Tether and LVGA, in addition to fiat currency, as payment for their goods and services. Customers will be able to purchase clothing and accessories at the Guess store using a POS system with Bitcoin Lightning Network technology and the three digital currencies: Bitcoin, Tether and LVGA.