Top Crypto News: SHIB and XRP Delisting, Bitcoin's $30K Target, SHIB Burn Rate

SHIB and XRP Pairs Face Delisting

A major crypto exchange plans to gradually cease support for BUSD products, impacting SHIB and XRP trading pairs. These pairs will be delisted, and users are encouraged to convert BUSD assets to other stablecoins by February 2024. The decision follows the SEC's allegations against the exchange's stablecoin, leading to a halt in further minting. Notably, SHIB/BUSD and XRP/BUSD pairs are significant in trading volume, ranking fourth and sixth respectively across platforms.

Bitcoin Eyes $30,000 Milestone

Bitcoin aims for the $30,000 price level, influenced by recent market developments. Insights suggest a potential climb to this target, driven by factors such as on-chain data showing substantial BTC purchases between current prices and $30,000. However, market sentiment will play a crucial role. A bearish trend could trigger increased sell volumes, while strong bullish momentum could push Bitcoin to the anticipated level.

Shiba Inu's Burn Rate Surge

The Shiba Inu community is actively working to reduce the token's circulating supply through strategic burns. Recent data indicates the incineration of over 86 million SHIB in multiple transactions. The initiative aims to make SHIB more scarce, potentially boosting its value. Despite this, the team acknowledges that decreasing supply doesn't guarantee a price increase. The launch of Shibarium is expected to further enhance burn rates, potentially affecting trillions of SHIB weekly.

These developments highlight ongoing efforts and challenges within the crypto market, as major players and communities navigate regulatory and market dynamics.