Top Cryptocurrency Updates: Major Bitcoin Withdrawal, Ripple Stablecoin Burn, and Shiba Inu Gaming Expansion
Major Bitcoin Withdrawal from Coinbase
Recently, Coinbase, a prominent U.S. cryptocurrency exchange, experienced a staggering withdrawal of nearly $500 million in Bitcoin. This substantial transaction involved 7,999 BTC moved from the exchange's cold wallet to an address identified by the code "13F8P8." Subsequently, these funds were distributed to 50 different addresses, each receiving 157 BTC. The motive behind this significant activity remains unclear, though speculation suggests potential involvement by Bitcoin ETF issuers accumulating crypto amidst market volatility.
Ripple's Stablecoin Token Burn
Ripple has taken a notable step in its stablecoin operations by burning 185 Ripple USD (RLUSD) tokens. These tokens were destroyed by returning them to the issuer account at the RLUSD Treasury. Ripple has been testing its stablecoin in private beta, with minting initiated a week ago. Currently, access is limited to enterprise partners, but the stablecoin will be available to the public post-beta testing.
Shiba Inu's Gaming Expansion
Shiba Inu leader Shytoshi Kusama has highlighted a significant development in their gaming initiative. The project, initially known as Shiba Eternity, has been rebranded to PlayWithShib. This change is part of a broader strategy to expand beyond its original NFT card game. The Shiba Eternity team plans to launch multiple games on Shibarium, a layer-2 solution, marking its transition from Web2 to Web3. This expansion signifies Shiba Inu's dedication to enhancing its presence in the gaming industry.
Stay updated with these key developments in the cryptocurrency world as they indicate significant movements and strategic shifts within the industry.
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