CoinEfficiency

Top Crypto News: Saylor's XRP Shift, Bitcoin's Volatility, SHIB Burn Spikes

Discover the latest crypto updates: Michael Saylor endorses XRP in multi-token reserves, Bitcoin's price swings trigger liquidations, and SHIB sees a massive burn.
Published on 2025-03-05

Michael Saylor Shifts Stance on XRP and Altcoins

Michael Saylor, Strategy cofounder, surprisingly endorsed a multi-token cryptocurrency reserve including XRP during a CNBC interview. This marks a departure from his previous stance against altcoins. Saylor now views this approach as "progressive" and "bullish" for Bitcoin and the broader crypto market. However, this endorsement sparked backlash, with critics like Jake Chervinsky calling it a distraction from key issues like stablecoins and market structure.

Bitcoin's Volatility and Bollinger Bands Signal

Bitcoin's price swung wildly, surging 10% to $93,604 before dropping 5% to $89,100. The Bollinger Bands indicator pointed to this decline, as Bitcoin struggled above the middle band. This led to $1 billion in liquidations. At press time, BTC rebounded to $88,850, up 7.15% over 24 hours. The lower Bollinger Band at $83,400 remains a potential target if support falters.

SHIB Burn Reaches 20 Million Tokens

A massive SHIB burn occurred, with 20 million tokens moved to an unspendable address, contributing to a 34.24% daily increase. Over seven days, 122 million SHIB were burned, totaling 410.7 trillion destroyed. This effort slightly boosted SHIB's price, which rose 3.77% to $0.00001304. Bitcoin's upturn also influenced the meme coin's recovery, as altcoins often follow Bitcoin's movements.

What is Coinefficiency?

Coinefficiency is your go-to platform for optimizing cryptocurrency trading, investments and strategies. We provide a comprehensive suite of tools to analyze market trends, monitor price movements, and execute effective trading strategies. Whether you're a seasoned trader or new to crypto, Coinefficiency helps you maximize your profits with data-driven insights.

Why Use Coinefficiency?

  • Advanced market analytics to identify trading opportunities.
  • Compare markets relative performance.
  • Understand market cycles over time. See market levels.
  • Compare buy-and-hold, portfolio rebalancing, Dollar-Cost-Averaging trading strategies.

With Coinefficiency, you can stay ahead of the market and execute efficient trading strategies effortlessly.

Get Started with Coinefficiency

Ready to optimize your crypto investments? Take control of your portfolio with cutting-edge tools designed for both beginners and experts.