XRP Goes From 1.1 Billion to 100 Million, Shiba Inu Holders Receive Urgent Security Alert, Tesla's Net Income Boosted by Bitcoin Profits: Crypto News Digest by U.Today
2025-01-31
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Here are the top three news stories from the previous day brought to you by U.Today.
XRP goes from 1.1 billion to 100 million: What happened?
XRP has experienced a significant decline in on-chain volume, with payments dropping from 1 billion to just 100 million, raising concerns about the asset's liquidity and market health. Despite this sharp decrease in transaction volume, XRP's price has remained relatively stable, hovering around the $3.10 mark. The asset has maintained its bullish momentum following a powerful breakout earlier this year, trading above key moving averages and holding a strong position above the 50 EMA. Resistance levels at $3.20 and $3.50 are critical to watch, as surpassing these could lead to a potential rally toward $4. However, the decline in on-chain activity and the reduction in active accounts suggest a cooling ecosystem, which may impact future demand and price stability.
Shiba Inu holders receive urgent security alert: Details
Yesterday, Jan. 30, the SHIB community received an urgent security alert from Susbarium | Shibarium Trust Watch, an X account dedicated to protecting Shiba Inu enthusiasts from scams. The warning comes after reports surfaced about fake websites impersonating official SHIB platforms. Per these reports, these fraudulent sites aim to deceive users into providing sensitive information, such as private keys and wallet credentials. Thus, Susbarium urged the SHIB community to stay vigilant while sharing three crucial tips that could help them stay safe: verify URLs, keep private keys confidential and seek clarification from trusted sources when in doubt. "Stay safe and protect your assets! Together, we can keep the community secure," wrote Susbarium in the conclusion of its post.
Tesla's net income boosted by Bitcoin profits
According to СNBC, Tesla, the leading e-car manufacturer, has reported a profit of $600 million from its Bitcoin holdings in the fourth quarter. This is attributed to a new accounting guideline from the Financial Accounting Standards Board (FASB) that allows reporting holdings at their current market value. Initially purchasing Bitcoin in 2021, Tesla has since sold approximately 75% of its holdings; at the moment, the company's total Bitcoin holdings stand at $1.1 billion, with no sales occurring in the fourth quarter. Had Tesla not liquidated a significant portion of its Bitcoin, its holdings would currently be valued at around $2.4 billion. Shares of Tesla (TSLA) were up more than 4% in premarket trading. Without the positive impact of Bitcoin profits, Tesla's earnings per share (EPS) would have fallen short of meeting consensus estimates.