Crypto News Digest by U.Today
Don’t miss out on the fast-changing world of crypto with the latest news roundup from U.Today!
U.Today has prepared summaries of the four best news stories of the last day. Follow current events in the crypto industry!
The Cardano founder makes staggering predictions about Bitcoin
Charles Hoskinson, founder of the Cardano blockchain and Input Output CEO, made an astounding prediction about Bitcoin during a recent YouTube livestream. According to Hoskinson, in five years there will be more Bitcoin outside the main chain than inside the main chain. He believes that Bitcoin will be used by all kinds of decentralized applications, smart contracts and even nation states. At the same time, Hoskinson complained about the “inordinate” amount of electricity that Bitcoin uses, adding that there is no need for the energy-hungry PoW consensus algorithm as there are synthetic versions of BTC that can work on other blockchains. “Wrapped Bitcoin is Bitcoin,” said the Cardano founder.
XRP can make everyone cry, says this trader
Crypto Rand, pseudonymous trader and investor with more than 300,000 followers on Twitter, has shared an optimistic post regarding XRP cryptocurrency. He wrote that the Ripple-linked token could potentially “load a moonshot,” which would make “everyone cry.” Along with this prediction, he shared an XRP price chart showing that the token appears to have formed a symmetrical triangle. Such patterns are usually formed during periods of consolidation. The current trend is moving upwards, which is good news for the bulls. At the time of writing, XRP is trading hands at $0.48, up 3% in the last 24 hours and up 12% in the last week.
The SHIB Metaverse team reveals an important new update
The team behind Shiba Inu Metaverse has recently unveiled the “Canyon” concept art, a new digital location that will be crucial for metaverse users. As the team explained in its recent blog post, the Canyon hub will provide the full digital experience of being in the countryside or at a campsite, with rivers, canyons, mountains and other elements of “fantastic nature” and something similar to a “Burning” Man Party Area.” So far, concept art for the hub has only been presented in black and white. In September, developers shared the concept art for two other hubs crucial to the community and the metaverse – WAGMI Temple and Rocket Pond.
BabyDoge easily passes strong resistance level after 10% breakout
Yesterday, BabyDog demonstrated outstanding price performance as it broke out of the local resistance level, showing some signs of an upcoming acceleration. The meme token showed a return of 12% despite a drop of 2-4% every few hours. After the breakout above the 50-day moving average, BabyDoge will most likely move towards the 200-day moving average, considering the improbability of a “1-day rally.” The trading volume suggests that the asset appears to have all the support necessary for a significant price increase. The only thing that could cause the asset’s price to fall from this point on would be an increase in selling pressure from private or short-term investors.
