Crypto News Digest by U.Today

The last days of summer were rich with crypto events. Take a look at the most important of them with U.Today’s top four news stories.

JPMorgan says you should sell your crypto

According to Bloomberg’s recent report, JPMorgan’s chief strategist David Kelly stated that investors should get rid of their crypto holdings. He believes the Fed’s hawkishness will create more problems for digital assets. Kelly is also bearish on major technology stocks. This year, Bitcoin has traded in line with the tech-heavy Nasdaq 100 index, and has not acted as an inflation hedge. At the time of publication, the first cryptocurrency is exchanging hands at $20,315, a decrease of almost 6% in the past week. Bitcoin took a sharp nose dive after Fed Chairman Jerome Powell’s speech at the Jackson Hole conference, where he said the central bank would continue its aggressive campaign.

Shiba Inus BONE rises 130% in two days with these events

ShibaSwap’s main token, LEG, showed a 110% price increase in two days. Such a widespread spike was most likely caused by the wave of news and speculation about BONE entry on large centralized crypto exchanges. First, Gate held a vote for BONE listing, and then BlueBit officially announced the start of token trading. Thanks to the token’s low liquidity and the announcement of the listing, the crypto community got very excited and started actively buying BONE. This resulted in the coin breaking away from its historical highs by 100%, and it is still unknown where the price discovery will end.

SHIB Metaverse crucial upgrade finally revealed

SHIB Metaverse’s developers has announced that they are going to add a crucial upgrade to the project: the WAGMI Temple HUB. This is just one of many HUBs that the THIRD FLOOR (TTF) studio and the Metaverse team are working on together. This particular HUB is meant to be similar to a Zen-like world, where users will be able to experience calming experiences and practice meditation and “spiritual connections to the world.” The WAGMI Temple design has been influenced by many temples around the world, such as the Byodo-In Temple and the Temple of Heaven in China, for example. In total, the SHIB Metaverse will contain 100,595 plots of virtual land.

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Cardanos Input Output Announces Research Center at Stanford

Cardano developer Input Output invested $4.5 million in Stanford University’s new research hub. The company will provide funding over three years. In a recent interview with Coindesk, Charles Hoskinson said that the new research hub will enable blockchain development to grow at a faster pace. The mark of a prominent university will bring much sought after validity to the cryptocurrency sector. Input Output has collaborated with a number of universities around the world. Back in 2017, it sponsored similar blockchain labs at the Tokyo Institute of Technology and the University of Edinburgh.