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Crypto News Digest by U.Today
Valeria Blokhina
Don’t miss U.Today’s news digest featuring the most interesting stories from last weekend!
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U.Today has prepared the three main news stories of last weekend.
Edward Snowden Issues Crucial Warning About Bitcoin: ‘The Clock Is Running’
As recently disclosed by the post on the official X handle of Wasabi Wallet, a leading player in Bitcoin privacy solutions, zkSNACKs, the pioneer company in the development of Wasabi Wallet, has decided to cease its coordination service starting from June 1st 2024. The move has caused considerable concern among members of the crypto community, and for good reason, as this will affect not only Wasabi Wallet users but also users of other wallet clients linked to the zkSNACKs coordinator, such as Trezor Suite and BTCPayServer. Even though its coinjoin coordination service has been discontinued, Wasabi Wallet will continue to function as a Bitcoin wallet, but with reduced privacy features. The news attracted the attention of Edward Snowden, the world-famous whistleblower; in a post on X, he wrote to warn Bitcoin developers for 10 years that privacy must be guaranteed at the protocol level. “This is the final warning. Time is running out,” Snowden urged at the conclusion His place.
DOGE has officially been added to Tesla’s payment options, but there’s a problem
Dogecoin, the dog-themed meme cryptocurrency, was recently added as an official payment option on the website of Tesla, an electric car company run by Elon Musk. However, those who wish to use their Dogecoin on the Tesla website can only do so in the online Tesla Shop to purchase merchandise. The Payment, Checkout, and Pricing sections in Tesla Shop resources He says: “Dogecoin may also be accepted on select products.” However, this modest development was enough to ignite enthusiasm in the Dogecoin community; Following the news, the price of DOGE increased by more than 21% on Saturday, May 4, reaching $0.159. At the time of writing, however, DOGE is trading at $0.156, down 2.70% over the past 24 hours, according to CoinMarketCap. Recall that the first experimental adoption of DOGE by Tesla was attempted in January 2022. Then, in March 2024, Elon Musk stated that they should add DOGE as a payment option in the future.
Will Shiba Inu erase the zero? 110 trillion SHIBs are the key to a 100% price increase.
Shiba Inu may be ready to do it a significant change in its price action, with a threshold of 110 trillion SHIB being the key to doubling the value of SHIB prices. Data provided by IntoTheBlock’s break-even price indicator shows that 110.27 trillion SHIBs were purchased from 327,200 Shiba Inu addresses between $0.000026 and $0.000051 at an average price of $0.000034, which is pretty close to the Shiba Inu’s current price range. This suggests that over 327,000 addresses would need the SHIB to reach $0.00005 to break even. While the 110 trillion SHIB tokens represent a strong barrier, they are also the key to a possible price increase. Based on current Shiba Inu prices, a jump to $0.00005 would indicate a 100% increase in SHIB value. What gives this threshold additional significance is that a successful breach above it could potentially help SHIB remove a zero from its price. At the time of writing, SHIB is trading at $0.0000243, down 2.43% over the past 24 hours.
About the author
Valeria Blokhina
Valeria is the community manager of U.Today. She is a cryptocurrency enthusiast and believes that cryptocurrency is the future of finance. Valeria currently covers the latest news in the world of cryptocurrencies and blockchain.