Cryptocurrency News Digest Written by U.Today Written by U.Today

U.Today – Here are the top three news stories from the past day brought to you by U.Today.

Community gets important warning about new threat: details

XRPScan, a popular XRP Ledger explorer, recently issued an important warning to the XRP community on the X platform. The warning relates to speculation about an XRP account allegedly linked to the US Treasury. The platform urged users to be cautious and “do your due diligence before trusting, buying or selling tokens on the public ledger.” XRPScan emphasized that, like any public blockchain, anyone can create an account on the XRP Ledger and set the fields to whatever they want, and that explorers act as neutral platforms that do not censor information unless absolutely necessary. In light of these concerns, XRPScan has marked the suspected account as spam as a temporary measure.

The CEO of BlackRock (NYSE:) suggests the price could reach $700,000

During a discussion with Bloomberg’s Francine Lacqua at Bloomberg House in Davos, BlackRock CEO Larry Fink said that Bitcoin’s price could rise to $700,000 with broader institutional adoption. Fink shared his insights from a recent conversation with a sovereign wealth fund; The fund was asking the head of BlackRock whether it should have a 2% allocation or a 5% allocation. “If everyone embraced this conversation, it would be $500,000, $600,000, $700,000 per bitcoin… I’m not promoting it, by the way. That’s not my promotion,” he said. As U.Today previously reported, Fink has consistently argued that Bitcoin may serve as an alternative to gold, as well as a hedge against currency declines and political instability. According to SoSoValue, the net assets of BlackRock’s iShares Bitcoin Trust ETF have now exceeded $60 billion.

SHIB burns 5,785%.

According to recent data released by Shibburn, the SHIB community has dumped more than 3.2 million SHIB tokens in the past 24 hours. Thanks to their actions, the burn rate of the dog-themed cryptocurrency meme increased by 5,785%. However, despite this spike in burn activity, SHIB’s price has remained relatively stagnant. Over the past week, the total amount of SHIB destroyed reached approximately 63.3 million tokens, although the burn rate saw a 6.81% decrease compared to the previous week. On January 21, SHIB saw a temporary price rise of 7.71%, to $0.00002126, but then fell by 3.85% to $0.00002043. This price volatility appears to be linked to the movements of Bitcoin, which also reached a recent high before seeing a decline. Earlier today, SHIB lost the $0.00002 level, but the token eventually managed to make it back, and is currently trading at $0.00002035, per CoinMarketCap.

This article was originally published on U.Today