379,270,000,000 SHIB Stun World's Largest Crypto Exchange, RLUSD Surges 2,000% in Key Metric, Enormous ADA Buying Spree Happening Right Now: Crypto News Digest by U.Today
2025-01-06
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Check out the top three news stories from the first weekend of 2025 presented to you by U.Today.
379,270,000,000 Shiba Inu stun world's largest crypto exchange
On Saturday, Jan. 4, Binance, the world's largest crypto exchange, recorded a significant flow of Shiba Inu SHIBUSD tokens, totaling 379.27 billion. This trading surge may have been prompted by a more than 5% rise in SHIB's price that day. Currently, the meme token is changing hands at $0.00002404, up 1.66% over the past 24 hours, per CoinMarketCap. The price of Shiba Inu has been fluctuating between $0.00002319 and $0.00002486; even though the dog-themed coin is below its previous price of $0.00003215 from a month ago, some analysts believe that this rebound is noteworthy, especially as it has defied a death cross pattern. According to experts, if SHIB surpasses the key resistance level of $0.000025, it could trigger further bullish momentum, supported by the heightened trading activity observed.
Ripple USD (RLUSD) surges 2,000% in key metric
Ripple USD (RLUSD), the newly launched stablecoin from Ripple, experienced a remarkable 2,000% surge in trading volume yesterday, Jan. 5. The token's total trading volume reached $611 million, making it the fourth most-traded stablecoin, despite a market cap of only $53 million. Some users on social media have raised doubts regarding the accuracy of these figures, as it seems unlikely that RLUSD could achieve such significant traction in such a brief time frame. Notably, Bullish trading platform, backed by PayPal co-founder Peter Thiel, represents over 96% of the stablecoin’s trading volume, having listed six trading pairs with RLUSD just last week. Vet, a validator on XRP Ledger (XRPL), has noted that the trading volume recorded on the RLUSD/USD pair at Bullish appears disproportionately high; the pair has low liquidity, which means that only a few large players are responsible for such staggering numbers.
Enormous Cardano ADAUSD buying spree happening right now
According to the latest on-chain data, Cardano has seen a major increase in wallet activity and accumulation. Over the past year, there has been a 237.44% rise in wallets holding $1 to $100 worth of ADA, with wallets containing $10 to $100 also growing by 18%. Based on the increase in smaller wallet activity, retail interest appears to be increasing. Meanwhile, larger wallet categories ($1,000 to $10,000 and $10,000 to $100,000) have experienced declines. The price of ADA has performed well, breaking through key resistance at the 50 EMA and trading around $1.08, although trading volume has consistently decreased, suggesting a lack of strong market support for these price movements. Additionally, balances in addresses with less than $10 have increased, while higher categories saw their balances declining. To benefit from this momentum, Cardano will need to maintain steady trading volume and broader market support, with $1.00 as a critical support level and $1.20 as a key resistance point for future price movements.