What’s new in the crypto world? See the U.Today news summary to find out!
Don’t miss any event in the crypto industry with four of the best news of the past weekend provided by U.Today.
SHIB will now be burned through Amazon
On Friday, May 27, Travis Johnson’s Twitter account SHIB Burning Games announced that SHIB Super Store, a regular dog coin burner, has been added to Amazon’s affiliate program. From now on, the store intends to use profits from 1 to 20% to buy SHIB, which will be burned every Sunday. At the moment, the total number of tokens burned by the project stands at 2,036,128,785 SHIB. To achieve amazing results, SHIB Super Store uses a portion of its revenue from in -game advertising, the sale of SHIB branded merchandise and a YouTube channel with a SHIB theme.
Elon Musk got a warning about Dogecoin and the SEC from the founder of CryptoLaw
John Deaton, founder of CryptoLaw, is concerned Elon Musk frequent Dogecoin promotions on Twitter accounts. Thus, Deaton decided to warn Tesla’s bosses about the potential dangers of the activity, noting that it could cause legal issues similar to Ripple and XRP tokens. It all started with Twitter user @JayBlessed901 complaining about the unfairness of the SEC’s long -standing suit against Ripple, while Musk freely drove the DOGE price with tweets. The complaint attracted the attention of lawyers because they suggested that the SEC could sue the centibillionaire. According to Deaton, Gensler and the SEC may recognize Dogecoin as an investment contract with Musk and his company.
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Terra launches a new block after the turbulent phase
Terra, a collapse-surviving project, announced reaching a new milestone: the production of the brand new Block 1 Terra blockchain. Now, those eligible for LUNA airdrop can see their wallet balances on the new chain. On their official Twitter account, the team behind the project wrote that the event marks “the next thing for the Terra community,” that Terra’s potential is unlimited. However, the optimism of the project was not shared by everyone. Billionaire investors Mark Cuba criticized the new Terra blockchain before its launch, with Billy Markus and BitGo Dogecoin CEO Mike Belshe doubting Terra’s future success. Hartmann Capital Felix Hartmann, on the other hand, believes that the new initiative is worth watching, but it will also require a lot of grinding on the part of the founders because they no longer have a billion -dollar market valuation.
Cardano has the potential to be a rare asset like Bitcoin
At Cardano a community -focused Twitter user called @cardano_whale stated that the ADA could follow a path like BTC and become a rare asset at some point in the future. He believes that Bitcoin gets the dynamics right because of its fair distribution, its value remains low to allow for a lot of buying and a constant supply. Cardano, like Bitcoin, has a limited supply limit, with only 45 billion ADA to be made during the coin’s existence. According to CoinMarketCap, there are currently 33.82 billion ADAs in circulation, accounting for 75% of the maximum supply, with 34.27 billion ADAs made to date. However, users are advised not to fill out the ADA due to persistent market conditions and demand that everyone be prepared “maybe a few months back negatively twice.”
