U.Today’s daily news digest keeps you informed of the most important updates in the crypto industry
U.Today presents the top four news stories over the past day. Take a closer look at the world of crypto!
XRP forms its first “golden cross” in months: details
On Oct. 23, market watchers could see XRP’s daily moving average (MA) 50 crossing above the MA 200 for the first time in 15 months. This chart pattern is known as “golden cross,” which is regarded as a long-term bullish indicator. The last time XRP’s “golden cross” was spotted was on July 17, 2021, and was followed up by a 176% price rally later. Analysts and traders usually interpret the golden cross as a sign of a defined uptrend. Since trend-following traders may be more inclined to buy after the most recent cross, this could lead to further price gains.
ADA listing on FTX could turn into tragedy, Cardano founder and BitBoy discuss
On Tuesday, Oct. 24, well-known crypto influencer Ben “BitBoy” Armstrong shared his concerns regarding a threat that ADA listing on FTX could pose to Cardano. In his tweet, BitBoy wrote that with the listing of the spot pair, FTX could make a forced liquidation of all ADA positions open with the bankrupt crypto broker Voyager, whose asset sale deal was approved in favor of FTX. Cardano founder Charles Hoskinson replied to this, saying that if FTX includes ADA in its quotation lists, then ADA accounts on Voyager should not be liquidated. FTX head Sam Bankman-Fried has not yet commented on the situation.
Bitstamp brings Shiba Inu (SHIB) to U.S. customers
According to Bitstamp’s official announcement, it has listed popular meme cryptocurrency Shiba Inu (SHIB) in the U.S. This comes after the largest European exchange launched SHIB trading in other markets. From now on, Bitstamp’s American customers will be able to trade the popular meme cryptocurrency against the U.S. dollar and the euro. Initially, Shiba Inu became available for trading on Bitstamp in early June, with its listing announced last December. SHIB holders, however, had to wait half a year before they could trade their favorite cryptocurrency on Bitstamp due to technical issues.
Ripple shovels 100 million XRP as investors start frantically grabbing XRP-oriented products
According to WhaleAlert, yesterday, Ripple and other companies transferred an astounding 290.8 million XRP in six consecutive transactions. More than a half of it, 100,000,000 XRP, was shoveled by the San Francisco-based fintech giant to an anonymous wallet. Per Bithump data, these funds were sent to one of Ripple’s reserve wallets, RL18-VN. This address is usually utilized for sending XRP to third parties outside the company — crypto exchanges, banks, financial institutions and converters to get fiat and cover Ripple’s ongoing expenses. The other 191 million XRP were moved by crypto trading platform Bitstamp, Ripple’s major ODL corridor in Latin America Bitso, and Bittrex.