Crypto News Digest by U.Today


Valeria Blokhina

Don’t miss the latest happenings in the world of crypto with U.Today’s news feed!

U.Today presents the top four news stories from the past day.

278 million LUNA burned since Do Kwon posted a burning address

Last week, Terra founder Do Kwon shared a LUNA brand address with his Twitter followers. Shortly after posting, the wallet received nearly 280 million LUNA tokens. Interestingly, two days after the wallet was published, Kwon explained that there is no point in sending LUNA to that address and will only lead to a loss of tokens. The “revelation tweet” took effect: 254 million LUNA were sent to the wallet from the time the address was first published, and after Kwon admitted that burning LUNA is pointless, it received only 25 million. It is worth noting that destroying nearly 300 million tokens had little effect on LUNA’s price and market cap. Currently, LUNA is trading at $0.000193, while the project’s market cap is dangling at $1 billion.

Shiba Inu Metaverse’s Team Adds Former Technicolor Executive

According to an official announcement posted Monday, Marcie Jastrow, former senior vice president at Technicolor, has become part of the Shiba Inu Metaverse team. “It’s such an honor to be a part of such an amazing project,” Jastrow said in her statement, pledging to help build a place for the entire community to explore and call home. In her new role, the former Technicolor executive will be primarily responsible for building brand partnerships.

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Shiba Inu Metaverse was introduced in late March, despite originally being announced in February. In early May, SHIB Metaverse users were able to start purchasing tracts of land using the SHIB token.

Anthony Scaramucci takes major position in Algorand

As reported by Business Insider, Anthony Scaramucci, head of SkyBridge Capital, took a major position in Algorand (ALGO) and praised the project’s technology. In addition, Scaramucci commented on the current state of the market; he believes that since there is no extreme panic in the air, stock traders have yet to capitulate. When asked about Bitcoin’s price performance, SkyBridge Capital’s boss declined to make any predictions, adding that “anything could happen.” Scaramucci also advised investors to switch to the dollar-cost averaging (DCA) investment strategy. He is sure there is now a great buying opportunity for investors in the technology sector.

Three Factors That Will Prefer Bitcoin vs. Crude Oil This Decade: Bloomberg’s Leading Expert

Yesterday, Bloomberg’s Mike McGlone on his Twitter account opined the trajectory of the price of crude oil versus that of Bitcoin. According to the chief commodity strategist, Bitcoin will rise within this decade, unlike crude oil, thanks to three factors: acceptance, supply and demand. McGlone stated that the trajectory on the chart so far has been unfavorable for crude oil and favorable for BTC, adding that there is a good chance it will remain the same. Bitcoin adoption has grown rapidly in recent times as more financial institutions and retail investors have been buying BTC for long-term betting.

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