4,999,999,999 DOGE Withdrawal Stuns Binance, Shiba Inu Goes From Billion to 13 Trillion SHIB, Ripple USD (RLUSD) Earns Praise From Cardano Founder: Crypto News Digest by U.Today
2024-12-18
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Don't miss anything happening in the world of crypto with U.Today's top three news stories over the past day.
4,999,999,999 DOGE withdrawal stuns world's largest exchange
According to Whale Alert's X post from Dec. 16, a substantial DOGE withdrawal took place on Binance, the world’s biggest crypto exchange by volume. The transaction involved a withdrawal of Dogecoin valued at over $2 billion. Specifically, 4,999,999,999 DOGE were transferred to an undisclosed wallet, amounting to approximately $2,029,427,748 at the time of the transaction. Per Whale Alert's data, the transfer consisted of numerous smaller transactions, all directed to a wallet address ending in AguBr5; currently, the address holds a total of 5,565,060,612 Dogecoin worth $2,219,680,076. The size of this withdrawal stunned the DOGE community, sparking various theories; some speculate that it may have been an internal transfer within Binance, although blockchain data does not support this claim.
Shiba Inu goes from billion to 13 trillion SHIB: Major support ahead
Shiba Inu is seeing the approach of the critical support level of 13 trillion SHIB, which may significantly influence its future price trajectory. This level serves as a crucial obstacle for sellers while offering a potential opportunity for bulls aiming to initiate a rally. However, the overall sentiment surrounding SHIB remains cautious, as it has failed to hold a price above $0.00002800, indicating a loss of upward momentum. If the SHIB price closes below the current support, it may decline toward the next key levels at approximately $0.00002249 and $0.00002031. To prevent more severe corrections, bulls need to protect these areas of strong psychological and technical support. Additionally, Shiba Inu sees a major decline in trading volume, indicating diminishing interest from both buyers and sellers, making a short-term recovery for SHIB less likely. However, if buying activity increases and SHIB maintains the 13 trillion SHIB support level, a relief rally could occur, with $0.00003000 as a potential resistance point.
Ripple USD (RLUSD) earns praise from Cardano founder
In a recent X post, Charles Hoskinson, the founder of Cardano, praised Ripple's RLUSD stablecoin, calling it "awesome." He indicated plans to make RLUSD available on the Cardano blockchain, further enhancing its reach in the crypto market. Approved by the New York State Department of Financial Services last week, the stablecoin went live on XRP Ledger and Ethereum yesterday, to the great delight of Ripple enthusiasts. According to CryptoQuant crypto analytics platform, in the past two weeks, approximately $66 million worth of RLUSD tokens have been minted. Ripple's Jack McDonald highlighted the stablecoin's potential applications, such as instant settlement, collateralization and DeFi integration. The stablecoin was also praised by Ripple President Monica Long; she stated that the RLUSD launch is a milestone for both Ripple and XRP Ledger.