Large XRP Whale Emerges With 104 Million XRP Shift, Shytoshi Kusama Publishes S.H.I.B. Proposal for US Government, Cardano Spotlights Growth Milestones: Crypto News Digest by U.Today

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

U.Today has prepared summaries of the top three news stories over the past day. Stay tuned for current crypto industry events!

Gigantic XRP whale birthed with 104 million XRP shift

Whale Alert blockchain tracker has recently spotted the emergence of a new XRP whale after a transaction involving 104 million XRP worth roughly $56 million. A total of 104,035,551 XRP tokens have been moved from an unidentified wallet to a newly created wallet. Notably, the identities of both the sending and receiving wallets remain unknown, which adds intrigue to the transaction. This whale's entry follows the crucial developments for Ripple and the XRP ecosystem, particularly Ripple's release of its Q3, 2024, XRP Markets Report, which indicates growth in both the XRP ecosystem and the broader crypto market. Additionally, in the most recent update to XRP Ledger, the XRPL oracle pricing amendment has gone live, allowing XRPL's native oracles to be able to provide real-time data for key DeFi features like the AMM and lending protocols.

Shytoshi Kusama publishes groundbreaking S.H.I.B. proposal for U.S. government

Shiba Inu lead Shythoshi Kusama recently published a blog post, in which he presented a proposal for establishing a Strategic Hub for Innovation and Blockchain (S.H.I.B.). The proposal constitutes a strategic plan to create such a hub in a single U.S. city, which can then potentially transform the entire country using blockchain technology. This plan, which will be presented to the next U.S. president, is estimated to cost between $1.3 billion and $2.35 billion over a five- to ten-year period. Interestingly, the SHIB coin itself is not mentioned in this concept. According to Kusama, the initiative aims to "stimulate economic growth, create high-quality jobs, enhance national security, and reinforce the United States' leadership in emerging technologies." In conclusion, the SHIB lead stated that investing in the S.H.I.B. project presents a transformative opportunity for the U.S, as it aligns with national priorities of economic growth, technological advancement, national security and sustainable development.

Cardano spotlights stunning growth milestones as Chang 2 upgrade nears

Cardano is preparing for the second phase of the Chang upgrade, which aims to implement the final features of Cardano’s minimum viable on-chain governance. In a recent X post, Input Output Global (IOG) highlighted significant achievements from October, noting that the number of token policies increased by 3,287, and the number of minted native tokens by 60,000. Plutus scripts grew by 3,358 to a total of 91,698. The total number of transactions also rose by 0.98 million, bringing the overall count to 97.92 million. Among the key developments of October are also the implementation of final improvements and fixes for the Conway ledger era and the release of Node v.10.1.1, which marks the first mainnet release node capable of passing the Chang #2 inter-era hard fork.