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Shytoshi Kusama Shares Crucial Update on Long-Term Shiba Inu Plans, Peter Brandt Unveils His Trading Secrets, $34 Million in ETH Shifted in 24 Hours: Crypto News Digest by U.Today

Wed, 10/07/2024 – 16:37

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

Shiba Inu lead shares crucial update on SHIB’s long-term plans

In a recent X post, Shytoshi Kusama, pseudonymous lead of the Shiba Inu project, revealed long-term plans for the dog-themed meme token and its ecosystem. Kusama hinted at the core use case for TREAT, the upcoming unreleased token. According to the lead, by using TREAT, Shiba Inu members will be able to access all the ecosystem’s advanced features. Additionally, Kusama wrote that the SHIB team is currently finalizing partnerships to “grant full power” to the system they have created. The lead also reminded SHIB enthusiasts that he would eventually have to step away from the project’s limelight, as Shiba Inu is approaching the completion of Ryoshi’s plan for a decentralized system with no leader. Last but not least in Kusama’s X post was the announcement of SHIBACON 2024, the project’s own conference that will take place in Bangkok, Thailand, around the same time as DevCon.

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Legendary Bitcoin trader Peter Brandt unveils his trading secrets

X followers of Peter Brandt, a prominent trading expert with 50 years experience, have recently had an opportunity to learn some of his trading secrets. Replying to a comment under his post from July 9, Brandt unveiled a list of strategies that he does not use in his futures and forex trading. The expert wrote that he avoids trendlines, most indicators, day trading and taking losses. Also, he ignores market fundamentals, win rates and the actions of his trading peers. Besides, Brandt stated that he is risking no more than 70 basis points per trade and that he does not worry about getting stopped out or becoming obsessed with a certain market or asset class.

$34 million in Ethereum (ETH) in 24 hours, What’s happening?

As uncertainty continues to unfold on the crypto market, Ethereum whales began making major moves. According to data provided by Whale Alert tracker, yesterday, an unknown wallet moved 11,215 ETH to Coinbase crypto exchange. This massive transaction is valued at approximately $34.35 million. The whale appears to have shifted this immense amount of ETH in order to start a sell-off. Moreover, the timing of this sell-off is crucial as it comes amid the recent market crash. Over the last 30 days, Ethereum’s price has dropped 16.68%. This demonstrates the severity of the market dump, which is affecting popular coins like Bitcoin and Ethereum. Even though many still hope for ETH’s price recovery,  it appears that some traders are dumping their holdings; in the case of this Ethereum whale, they have almost $34.35 million in ETH. Given the size of the transaction, it may further impact the market and drive the ETH price down.

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