Latest Crypto News and Updates from Valeria Blokhina at U.Today
The crypto world is abuzz with the latest news, and one of the top stories making waves is the conversion of Binance’s SAFU assets to USDC. Binance, one of the leading cryptocurrency exchanges, announced yesterday that it has converted its Secure Asset Fund for Users (SAFU) into USDC stablecoin. The SAFU fund was established in 2018 to protect users in extreme situations and typically holds around $1 billion in various cryptocurrencies. The conversion to USDC ensures the stability of the fund even during market fluctuations, as USDC is pegged to the U.S. dollar and is known for its regulatory compliance.
In other news, Dogecoin (DOGE) price is expected to reach its all-time high following the resolution of a supply block. Data from IntoTheBlock shows that a significant amount of DOGE, distributed among over 950,000 wallets, is currently concentrated in a specific price range. Once the supply shock is resolved, analysts predict a potential surge in DOGE’s price, despite the current losses experienced by holders.
Additionally, Shiba Inu’s Shibarium, a layer-2 solution for the popular meme coin, has seen a 160% increase in key metrics recently. Daily transactions on Shibarium have spiked, indicating a recovery in its performance after a previous drop. The total number of completed transactions on Shibarium since its launch in August 2023 has reached an impressive 417 million, with the total wallet addresses growing to 1.783 million.
Stay tuned for more updates on the exciting world of cryptocurrency by following U.Today’s news digest. And don’t forget to check out our community manager, Valeria Blokhina, who covers the latest news in the crypto and blockchain space with enthusiasm and expertise.
