U.Today News Summary

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

Mammoth 144,045% SHIB Burn Jump Stuns Shiba Inu Community: Details

According to data provided by the Shibburn tracker, Shiba Inu recently saw a significant increase in its burn rate, reaching levels not seen for a long time. On Dec. 4, this metric surged by an astonishing 144,045%, with a total of 2,041,299,351 SHIB tokens shifted to unspendable wallets. This burn rate spike is primarily attributed to a major transfer of 2,020,624,700 SHIB made earlier this week, along with two smaller transactions. Additionally, the total SHIB burned within the last week reached an impressive 4,251,012,135 tokens, reflecting a weekly burn rate increase of 1,990.39%. The SHIB community reacted positively to this news, with many expressing their enthusiasm and optimism regarding the significant reduction in the circulating supply.

Ripple Breaks Silence on RLUSD Stablecoin Launch: Details

Ripple has officially addressed the speculation regarding the launch of its highly anticipated RLUSD stablecoin, specifically responding to rumors that it would debut on Dec. 4. As the date passed without the stablecoin's launch, the fintech company took to the X platform to clarify the situation. In its X post, Ripple reaffirmed that "RLUSD isn’t launching today," highlighting its commitment to working closely with the New York Department of Financial Services (NYDFS) to ensure regulatory compliance. "We’re in lockstep with the NYDFS on final approval and will share updates as soon as possible. We are fully committed to launching under the supervision of NYDFS and upholding the highest regulatory standards," Ripple stated. The company also promised to provide updates as progress is made.

Bitcoin Advocate Samson Mow Confirms $1 Million BTC Price Target

The crypto market recently witnessed a historic event as Bitcoin's price has surpassed the $100,000 mark. This milestone, achieved 15 years after Bitcoin's creation, has sparked Bitcoin advocate Samson Mow to predict a future price target of $1 million. In his X post, Mow wrote that he will not remove "laser eyes" (a symbol of optimism and future value of the flagship crypto in the BTC community) from his profile picture until Bitcoin reaches the $1 million level. The recent Bitcoin halving event, which has intensified scarcity by limiting the daily supply to approximately 450 units, supports this ambitious projection. Demand for Bitcoin is further bolstered by continuous acquisitions from companies such as MicroStrategy, which recently purchased 15,400 BTC, raising its total holdings to 402,100 BTC. Other companies, including Metaplanet and Semler Scientific (NASDAQ:SMLR), are also following suit, suggesting that the demand for Bitcoin could swell even further if major corporations like Microsoft (NASDAQ:MSFT) decide to enter the market.

This article was originally published on U.Today