Crypto News Digest by U.Today

Valeria Blokhina

Read about the latest happenings in the industry in U.Today’s news feed!

U.Today presents the top four new stories from the past day:

Thus, the SHIB price can reach $0.01

Bigger Entertainment owner Steven Cooper believes he knows how to push the SHIB price to $0.01. According to Cooper, the best way to get dog mint to the desired level is to build an ecosystem in which people burn SHIB “without knowing it” through entertainment. By this, the business owner meant selling NFTs, merch and event tickets for SHIB and then destroying them during so-called ‘burn parties’.

The next fire feast will take place on February 14, Valentine’s Day.

India’s crypto account will not be introduced in budget session

The Indian government appears to have eased its stance on cryptocurrencies. As reported by the Hindu Business Line on Monday, the bill seeking to ban all privately issued cryptocurrencies, such as Bitcoin and Ethereum, will not be introduced during the budget session. Instead of banning cryptocurrencies, the government now plans to regulate them. As recently reported by U.Today, India proposed tax rules for crypto: digital assets are taxed with a 30% income tax.

ADA Approaching $1, IOHK Provides Updates On Cardano Ecosystem

In a series of tweets, IOHK provided an update on the latest news and announcements from Cardano-based projects. Atomic swap, ADAX Pro, MinSwap DEX, Muesliswap, Flint wallet and others have all reached major milestones in the past week, according to the update. The launch of a Cardano-based NFT game engine was also a major highlight.

Meanwhile, ADA is slowly drowning to hit the $1 mark after falling from the $1.64 high reached on Jan. 18. Right now, according to CoinMarketCap, the altcoin is changing hands at $1.06. However, despite the falling price action, Cardano whales seem to be piling up on the dip since the massive price drop in the market started on Jan. 17.

100 Million XRP Shifted With Binance’s Participation

According to WhaleAlert, an anonymous user yesterday sent 50 million XRP tokens to Binance, the world’s largest crypto exchange by trading volume. Moments later, however, the same amount of XRP was transferred to another “unknown” crypto wallet. Some in the comment section speculated that this is a whale sending its XRP to sell on Changpeng Zhao’s platform. The aforementioned XRP data service saw another big transaction. A total of 45 million XRP were shifted by Bithumb, the leading crypto exchange in South Korea.

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