MicroStrategy's Saylor Pitches $600 Million Bitcoin Buy to Jeff Bezos, Almost No New XRP Investors Coming, SHIB Burns Jump 936%: Crypto News Digest by U.Today
2024-12-24
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Take a look at what happened in the world of crypto by reading U.Today’s top three news stories.
MicroStrategy's Saylor pitches $600 million Bitcoin buy to Jeff Bezos
In a recent article, the "Daily Mail" reported that Amazon founder Jeff Bezos is preparing to marry his fiancée, Lauren Sanchez, in a ceremony expected to cost around $600 million in Aspen, Colorado. According to information provided to the British tabloid by several sources, Bezos has acquired an expensive sushi restaurant to accommodate up to 180 guests and has rented several luxurious mansions for high-profile guests. However, soon after the publication, the Amazon founder took to social media to state that the story published by the "Daily Mail" is "completely false." Still, this did not stop MicroStrategy cofounder Michael Saylor from replying to Bezos's denial of the "Daily Mail's" claims; in his comment, Saylor suggested that Bezos should consider investing $600 million in Bitcoin rather than spending lavishly on his upcoming wedding. "$600M would buy a lot of Bitcoin," Saylor wrote.
Almost no new XRP investors coming
Recent on-chain metrics indicate a concerning trend for XRP. According to data provided by XRP Scan, the number of new accounts being created has sharply declined. In contrast to the peak activity observed earlier in the year, when more than 30,000 new accounts were activated in a single day, only 1,756 new accounts were created on Dec. 22, 2024. This significant drop suggests that XRP is not attracting new investors. Meanwhile, transaction activity on the XRP Ledger has also decreased, further reflecting waning engagement from both retail and institutional users. Currently, XRP is struggling to break free from a descending triangle pattern, with its price hovering around $2.30. This negative outlook is worsened by a decrease in user growth and network activity, which raises concerns about the asset's future in the crypto market. However, there is still hope for a reversal — possibly through major partnerships or network upgrades.
SHIB burns jump 936%, price reacts unexpectedly
Data revealed by the Shibburn tracking platform demonstrates that the rate at which SHIB meme coins are being removed from circulation has significantly increased, with millions transferred to dead-end wallets. Yesterday, Dec. 23, 6,690,287 SHIB were incinerated by the Shiba Inu community, which resulted in a remarkable 936.52% surge in the daily burn rate. The two largest transactions accounted for 3,507,923 and 2,300,437 SHIB, respectively. However, despite this surge in burning activity, the weekly burn figures are currently negative, showing a nearly 60% decline, with 62,381,241 SHIB coins locked in unspendable wallets over the past seven days. At the moment of writing, SHIB is changing hands at $0.00002303, up 8.05% over the past 24 hours, per CoinMarketCap.