SEC Veteran Pours Cold Water on XRP Community, Shibarium Breaks All-Time High With 1,557% Spike in Activity, Stellar (XLM) Transfers Now Supported on Robinhood: Crypto News Digest by U.Today
2024-10-24

Let's take a look at what happened in the world of crypto by reading U.Today’s top three news stories.
SEC veteran pours cold water on XRP community
In a recent development in the Ripple-SEC case, the Second Circuit Court of Appeals issued a notice of default, which was perceived as another nail in the SEC's coffin by some in the XRP community. Previously, the regulator was reported to possibly miss the deadline to file its Form C in the appeals process. However, as clarified by former SEC director in San Francisco Marc Fagel, the notice was addressed to Ripple, not to the regulator. "This has NOTHING to do with the SEC. It's directed at defendant/appellee Larsen, whose counsel has not made a timely appearance in the matter," he wrote. Thus, according to the notice, if Ripple fails to address this within 14 days, it may be barred from presenting oral arguments unless granted permission by the court.
Shiba Inu's Shibarium suddenly breaks all-time high with 1,557% spike in activity
According to recent data provided by Shibariumscan, Shiba Inu's layer-2 solution, Shibarium, saw a remarkable 1,557% spike in activity yesterday. In a single day, the active accounts rose dramatically from 1,685 to 26,237, largely due to older accounts, with only 3,814 new addresses being created. Notably, this seems to be a new all-time high for active Shibarium accounts. The sudden burst in active accounts resulted in an increase in the number of new daily transactions by nearly 1,380%, from 128,047 to 1.76 million, marking the highest transaction volume since March. However, despite this impressive uptick in transactions and active accounts, the total value locked within the Shibarium blockchain experienced a decrease during the same period.
Stellar (XLM) transfers now supported on Robinhood: Details
As recently announced by Robinhood Crypto EU X account, Robinhood Crypto is now supporting transfers of XLM, Stellar's native token. From now on, users will be able to withdraw and deposit the digital asset. To celebrate this new feature, the company is offering a limited-time 1% deposit bonus for users transferring XLM to the platform. Robinhood launched its crypto trading service, Robinhood Crypto, in the EU in December of last year, allowing users to buy and sell cryptocurrencies. However, the company restricted it from transferring assets to external wallets or third-party platforms. This changed at the beginning of October, when Robinhood announced that it would begin allowing its European customers the ability to transfer cryptocurrency into and out of its app. Alongside Stellar, Robinhood has also introduced support for Solana SOLUSD transfers, offering the same 1% deposit reward until Nov. 30.