U.Today – Check out the top three U.Today news stories from the past day.
Binance CEO Faces SHIB Army Requests to Start Burning SHIB, Here’s Why
Binance CEO Richard Teng’s recent post on ETFs and the general interest in BTC suddenly caught the attention of the SHIB army. However, SHIB enthusiasts took to the comment section of the post not to express their opinion on Bitcoin; instead, they asked the Binance CEO if the exchange could start burning tokens like it does with LUNC tokens, using its transaction fee revenue. As a reminder, Binance has been contributing to the LUNC burn since 2022 in order to revive the Terra Luna Classic (LUNC) project after the crash it faced earlier this year. The SHIB community’s plea did not go unnoticed by the official X handle Shibburn; the team behind it tagged Binance, writing, “Imagine Binance burning through SHIB transaction fees like they do with LUNC. Is it possible?”
Bitcoin Miners Are Capitulating, But There’s a Positive Side to This Situation
CryptoQuant founder and CEO Ki Young Ju recently took to the X platform with a statement regarding Bitcoin miners; according to Ju, their capitulation is still ongoing. The term “mining capitulation” refers to a period of time when miners are forced to sell their Bitcoin holdings due to falling prices and fees. In his post on X, the CEO referred to historical data that shows such capitulation ends when “average daily mining value is 40% of the annual average.” However, it currently stands at 72%. According to Ju, market participants should expect “boring” cryptocurrency markets for the next two to three months. The CEO also advised investors to “remain bullish in the long term” while avoiding excessive risk.
Legendary Bitcoin Trader John Bollinger Shares Important Portfolio Tip
John Bollinger recently provided some crucial investing and portfolio management advice on his site X. The prominent technical analyst and inventor of the Bollinger Bands indicator recommended that investors should keep “junk” assets out of their portfolios, stating that doing so will ensure that they effectively manage their remaining investments. Given how saturated the market is with various financial instruments (and cryptocurrencies in particular), Bollinger’s advice is especially relevant; there are currently over 2.4 million different crypto assets with a combined market capitalization of $2.14 trillion. So, given that this huge number of cryptocurrencies can be overwhelming for investors, Bollinger’s portfolio optimization recommendations may come in handy.
