Cardano’s Charles Hoskinson Reacts to Epic ADA Prediction, Elon Musk Presents Neuralink’s First Product, SHIB Burn Rate Jumps 1,530%: Crypto News Digest by U.Today

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

Cardano out of top 10? Charles Hoskinson reacts to epic ADA prediction

In a recent X thread devoted to crypto predictions for the year 2024, Eric Wall, prominent Bitcoin supporter, wrote two forecasts that caused a stir within the ADA community. According to them, this year, Cardano will be dropped out of the top 10 cryptocurrencies, with Polygon taking its place. However, many ADA enthusiasts rushed to the comments section to remind Wall of his earlier inaccurate forecasts in late 2021 and early 2023, refusing to take this audacious prognosis seriously. The predictions were not left unnoticed by Cardano founder Charles Hoskinson; he replied with a GIF showing the sarcastic caption, “Well… we’re waiting!” At the moment of writing, Cardano is holding eighth place on CoinMarketCap, with a market capitalization of $17.81 billion.

Elon Musk sparks crypto community’s enthusiasm with Neuralink’s first product

Yesterday, Elon Musk took to the X platform to introduce the first product created by his innovative company Neuralink. The product is called “Telepathy” and will enable users to control their phone or computer, and through them almost any device, “just by thinking.” The news followed Musk’s earlier post reporting that the day before, the first human received an implant from Neuralink and is “recovering well,” adding that the initial results show promising neuron spike detection. The sensational messages from Elon Musk were met with enthusiasm by crypto community members, among which were SafePal wallet and VanEck fund. SafePal asked Musk in the comments when “Telepathy” will be for sale for crypto, and VanEck’s account tweeted: “wen tesla teleportation?”

Shiba Inu (SHIB) burn rate jumps 1,530% in epic market turnaround

The price of Shiba Inu saw a jump yesterday, reaching highs of $0.0000096, which coincided with a significant increase in the SHIB burn rate. Per data provided by Shibburn tracking website, over the previous 24 hours, the burn rate surged by 1,530.16%, as 61,685,012 SHIB tokens were burned in 15 transactions. The market experienced a bullish turnaround as investors grew optimistic about the Federal Reserve’s interest-rate decision this week, having assigned approximately even odds to a drop in March. Major modifications to this outlook might have a big impact on Bitcoin and the rest of the crypto markets, given that they are sensitive to shifts in sentiment and perceptions of liquidity. At the moment of writing, the Shiba Inu token is changing hands at $0.000009054, down 2.02% over the past 24 hours, according to CoinMarketCap.

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