Crypto News Digest by U.Today
Check out what’s happening in the world of crypto with U.Today’s top four news stories from the past day.
“Crypto Mom” Says New SEC Plan Threatens DeFi
SEC Commissioner Hester Peirce recently commented on the statement released by the SEC on Jan. 26, in which SEC Chairman Gary Gensler emphasized the importance of updating the rules for “increasingly electrified” systems that trade government securities. “Crypto Mom” claims the language of the agency’s new proposal is vague, and it could pose a threat to decentralized finances. Despite not mentioning cryptocurrencies, the proposal, Peirce says, could be used to expand oversight of crypto trading platforms.
Cardano records 15,000% increase in whale addresses since December
Ali Martinez, a prominent crypto analyst, shared recent data from Santiment showing that the number of Cardano addresses has increased by 15,000% since mid-December 2021 with a balance between 10,000 and 1,000,000 ADA. This means that since then about 3,900 wallets have joined the network. The number of ADA wallets is also poised to break the three million mark as the Cardano network records significant milestones.
One Billion XRP Unlocked As Ripple Puts More Coins Into Circulation
As expected on the first day of the new month, San Francisco-based tech decacorn Ripple has released another billion XRP from escrow, split into two pieces of 500 million coins each. Usually, Ripple holds about 200 million coins to cover operating costs and sends them to partner companies and banks or to crypto exchanges. In this way, the company adds more XRP to the circulation without negatively impacting the price.
According to WhaleAlert, Ripple has also transferred 20 million coins to one of its ODL corridors, the Coins.ph crypto exchange in the Philippines.
40,785 BTC transferred as Bitcoin reaches $39,000
According to Santiment on-chain analytics firm, 40,785 BTC worth nearly $1.56 billion left exchanges in the past week. Meanwhile, Bitcoin managed to hit $39,104 on Feb. 1, indicating a long-awaited upward move. The fact that Bitcoin has historically delivered positive returns in February may offer some relief to bullish traders.
Today, Santiment published two tweets suggesting two positive signs for the flagship cryptocurrency as Bitcoin address activity has had its best day this year.