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Shibarium Sees 500% Spike in Transaction Fees, Bitcoin at End of Correction, Says Top Analyst, Robinhood Makes Important Announcement for Uniswap Users: Crypto News Digest by U.Today

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Thu, 2/05/2024 – 16:03

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500% spike in Shiba Inu token transaction fees shocks Shibarium

Yesterday, May 1, transaction fees on Shibarium, Shiba Inu’s layer-2 solution, saw a significant increase. According to data by Shibariumscan, gas commissions paid in BONE surged from 12 BONE to 61.47 BONE, demonstrating 500% growth. The increase in fees on Shibarium can be explained by a number of factors, with the primary one being heightened network activity. Due to the recent rise in popularity of Shiba Inu tokens amid market instability and heightened investor interest, the demand for transactions on the Shibarium network has surged. The confirmation of this online activity spike is an extraordinary increase in active accounts, which jumped up by 211%, from 1,724 to 3,650 over the same 24-hour period.

Bitcoin (BTC) at end of correction, top analyst suggests

Despite April being Bitcoin’s worst month since October 2023 due to a substantial price plunge, Michael van de Poppe, renowned market analyst, believes that the flagship crypto is at the end of its correction. In his recent X post, van de Poppe wrote that BTC has plummeted by 20% from its recent highs, and there may be more downsides for the coin in the future. Even though a potential recovery is anticipated for Bitcoin from this point, the analyst stated that in the event of a further drop, one should closely watch the green zones between $56,000 and $58,000. Concluding his post, van de Poppe projected that altcoins will likely rebound before Bitcoin. At the time of writing, Bitcoin is trading at $59,156, up 3.27% over the past 24 hours, per CoinMarketCap.

Robinhood makes important announcement for Uniswap users

Robinhood, a popular online brokerage, has recently taken to X platform to announce that the Robinhood Connect feature has become available on Uniswap wallet. Thanks to the integration, users of the Uniswap mobile app are now able to purchase crypto assets with a debit card, via bank transfer or directly from their Robinhood balance. This option is available only to users from the United States. To celebrate this integration, Robinhood introduced a limited-time offer; the first time Robinhood Connect customers who buy at least $10 of crypto using Robinhood Connect in the Uniswap mobile app can get $10 in USDC as a reward. This development marks a significant step forward in enhancing accessibility and convenience for crypto investors.

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