U.Today – Check out the top three stories of the past weekend from U.Today.
0 (SHIB) in 24 hours, what’s happening?
On Saturday, September 21st, the SHIB community noticed some unusual numbers regarding the Shiba Inu burn rate. According to data provided by the Shibburn X account, 0 SHIB tokens were burned on the aforementioned day, suggesting an extremely bearish reading for this metric. It is still unclear how this situation occurred, especially considering the low SHIB price that usually encourages token burning. The anomaly in the number of tokens destroyed raised questions about the effectiveness of the recently launched ShibTorch portal, which was supposed to automate the token burning process, either due to the portal not working as expected or due to the decreasing number of transactions on the network leading to the burning of relatively fewer tokens. However, according to U.Today’s latest update later on September 21st, the burn rate metrics increased by 547%, with 1,746,465 SHIB tokens burned.
Satoshi-era wallet activated after 13 years
After more than 13 years of inactivity, an archaic Bitcoin wallet containing 59 Bitcoins worth around $3.8 million woke up last Friday, September 20. The activation coincided with a significant run in Bitcoin prices, during which the flagship cryptocurrency briefly crossed the $64,000 mark for the first time since overdue August. However, it is unlikely that the wallet’s revival is directly related to the recent price rally, as no consistent pattern has been observed for such reactivations. Interestingly, this is the first time a Bitcoin wallet with such an impressive dormancy period (over 13 years) has been activated this month. However, later in the weekend, another archaic wallet followed suit; as reported by U.Today, on Sunday, a BTC address containing 50 Bitcoins emerged from hibernation that had lasted 14 years.
Bitcoin (BTC) BlackRock (NYSE): Victory Commented on by Leading Bitcoin Angel Investor
Last Friday, the SEC approved BlackRock’s Bitcoin options; they will trade on the Nasdaq under the symbol IBIT. The development caught the attention of notable figures in the cryptocurrency world, including MicroStrategy co-founder Michael Saylor; he praised the approval, stating that it will significantly “accelerate institutional adoption of Bitcoin.” This allows institutional investors to get involved in Bitcoin without having to own the cryptocurrency directly. Anthony Pompliano, an angel investor and Bitcoin advocate, echoed Saylor’s sentiment, suggesting that the move will boost institutional adoption while also reducing Bitcoin’s volatility and limiting its “explosive growth potential.” Pompliano, however, cautioned investors to temper their expectations regarding future returns, as Bitcoin may not deliver the same high returns we’ve seen in the past.
