Cardano Founder Makes Unexpected Bitcoin Statement, Shibarium Secures New Milestone, XRP Surges 4,586% in Liquidations: Crypto News Digest by U.Today


U.Today has prepared summaries of the top three news stories over the past day.

Shibarium just secured massive new milestone

In a recent development, Shibarium, Shiba Inu’s layer-2 solution, has surpassed three million blocks, thus achieving a significant milestone. At the moment of writing, their number stands at 3,033,711. The platform’s other metrics are also forging ahead; according to data provided by website, Shibarium’s total transaction count comprises 337,275,822, with its wallet addresses totalling 1,350,436. Additionally, the number of daily transactions has reached 2.28 million. The average block time on Shibarium equals five seconds, and gas fees stand at zero. The total number of accounts stands at 63,272, with the total number of tokens supported by the platform at 8,981. These numbers demonstrate the platform’s capacity to accommodate a wide variety of tokens and applications. 

Cardano founder makes unexpected Bitcoin statement

In response to a recent X post by Muneeb, co-creator of Stacks, on Bitcoin L2, Cardano founder Charles Hoskinson shared his observation regarding a certain narrative that has occurred three times in more than 10 years following Bitcoin halving. Hoskinson wrote that every Bitcoin L2 venture frequently faces the challenges associated with Bitcoin’s inability to adapt enough in order to support the components necessary for a vibrant L2 environment. By contrast, Ethereum and Cardano are continuously upgrading to provide developers with more options for deploying effective, efficient, reliable and secure L2s. To back up his argument, Hoskinson cited the addition of BLS support to Cardano’s Plutus V3 as well as the Hydra and Mithril projects, adding that Ethereum also has a vibrant ecosystem of L2s. Per the Cardano founder, BTC will not change or add any additional functionality, meaning that it will be extremely difficult to achieve some things with Bitcoin L2s, which often require centralized or federated infrastructure to operate.

XRP jumps 4,586% in liquidations in sudden rally against bulls

XRP, the sixth largest crypto by market capitalization, has experienced a period of intense volatility over the past few days. Following its failure to surpass the crucial dynamic price support level, XRP took a significant hit, with its valuation dropping by 4.22% at the moment of writing. As a result of this event triggering a chain reaction, a significant number of traders’ XRP positions were automatically liquidated. Data provided by CoinGlass shows that over the previous 24 hours, XRP trading witnessed an astounding $1.08 million in liquidations, with $1.06 million of this total representing long positions. This marks an astonishing 4,586% surge when compared to the liquidations of short positions in dollar terms. During this turmoil, XRP secured a notable position on the list of liquidated assets, trailing behind only crypto giants like BTC, ETH, SOL and LINK.


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