XRP Listed by Major Japanese Exchange, Shiba Inu Whale Activity Skyrockets 171%, Jim Cramer Provides Explanation for Crypto Market Bloodbath: Crypto News Digest by U.Today

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

XRP support added by major Japanese exchange

Yesterday, CoinCheck, a Japanese crypto exchange ranked 48th on the CoinMarketCap list of the world's crypto exchanges, announced on its X handle that it is adding support for XRP. Along with the Ripple-affiliated token, five more digital assets were listed on the platform the same day - Ethereum (ETH), Shiba Inu (SHIB), NEM (XEM), IOST (IOST) and Enjin Coin (ENJ). CoinCheck first teased the upcoming listing on Aug. 30, stating that the assets will be added on Sept. 4; as we can see, the listing came around as planned. 

Shiba Inu (SHIB) skyrockets 171% in whale move

Despite the broader crypto market going through a major sell-off, Shiba Inu's whale activity saw a remarkable surge over the past day. Data from IntoTheBlock indicates that large transaction volumes for Shiba Inu have jumped by 171%, hitting $25.81 million, equivalent to 1.97 trillion SHIB tokens. Whale addresses belonging to institutional traders tend to be most active during times of significant market volatility. The recent surge in SHIB whale transactions could suggest that large holders are either increasing their token holdings or transferring substantial amounts to different wallets.

Crypto market bloodbath explanation provided by Jim Cramer

Jim Cramer, the host of CNBC's Mad Money and a financial commentator, shared his insights on the reasons behind the ongoing market sell-off in a recent X post. With both stock and crypto markets experiencing declines, Cramer attributes the downturn to sell-offs in several key areas, including AI and computing, housing, oil and "some companies leveraged to infrastructure." Cramer’s X post regarding the sell-off of AI-related assets came in the context of the U.S. Department of Justice starting to issue subpoenas to the microchip giant Nvidia as part of a growing anti-trust investigation.