Crypto News Digest
Stay updated with the latest happenings in the crypto world! Here are the top three stories making waves today:
XRP on the Verge of Historic Breakout
According to a TradingView chart, the Ripple-affiliated token XRP is gearing up for its most significant price breakout in history. A symmetrical bullish triangle pattern has formed over the past six years, marked by lower highs and higher lows. This pattern typically indicates that the price may break out in the direction of the existing trend â which is upward. Historically, during the 2017-2018 rally, XRP surged by an astonishing 60,000%. As the completion of this pattern approaches, XRP's bullish momentum is expected to continue, but the end of this pattern is not likely to arrive until the first half of 2025.
Shibarium Nears Another Major Milestone
The Shiba Inu layer-2 solution, Shibarium, is on track to achieve a significant milestone. Data from Shibariumscan shows that the total number of blocks has reached 6,398,912 since launch. With this new record, Shibarium is closing in on the 6.5 million milestone. The network has also seen a surge in total transactions, now at 418,989,504, with 1,812,422 wallet addresses. Recent developments include the introduction of a burn portal for SHIB tokens and the addition of on-ramp features for BONE tokens with Visa and Mastercard.
Samson Mow Clarifies Bitcoin's Risk-Off Asset Status
Samson Mow, CEO of JAN3 and a prominent Bitcoin maximalist, has taken to the X platform to explain why Bitcoin is considered a risk-off asset. He identifies four types of investors for whom Bitcoin is a less risky investment than others: those with low time preference, those who understand money, those affected by inflation, and those living under oppressive governments. Importantly, these factors do not need to converge in a single individual. Mow emphasizes that we should not underestimate the ability of average retail investors to absorb the circulating Bitcoin supply.
For more insights and updates from the crypto world, stay tuned!
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