Pakinomist – Here are the top three news stories of the past day, brought to you by Pakinomist.
Society Gets Important Warning About New Threat: Details
XRPScan, a popular XRP Ledger Explorer, has recently issued an important warning to the XRP community on the X platform. The warning concerns speculation about an XRP account allegedly linked to the US Treasury Department. The platform urged users to exercise caution and to “do their own 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 flagged the suspect account as spam as a temporary measure.
BlackRock (NYSE: ) CEO suggests the price could reach $700,000
During a discussion with Bloomberg’s Francine Lacqua at Bloomberg House in Davos, BlackRock CEO Larry Fink stated that Bitcoin’s price could rise to $700,000 with wider institutional adoption. Fink shared insights from a recent conversation with a sovereign wealth fund; the fund asked the BlackRock executive whether it should have a 2% allocation or a 5% allocation. “If everyone adopted this conversation, it would be $500,000, $600,000, $700,000 per Bitcoin… I’m not promoting it, by the way. It’s not my promotion,” he said. As previously reported by Pakinomist, Fink consistently argued that Bitcoin can serve as an alternative to gold, as well as a hedge against currency depreciation and political instability. According to SoSoValue, BlackRock’s iShares Bitcoin Trust ETF has now surpassed $60 billion in net assets.
SHIB burns skyrocket by 5,785%
According to recent data from Shibburn, the SHIB community disposed of over 3.2 million SHIB tokens in the previous 24 hours. Thanks to their actions, the burn rate of the dog-themed meme crypt increased by 5,785%. However, despite this significant increase in combustion activity, the price of SHIB has remained relatively stagnant. Over the past week, the total amount of SHIB destroyed reached approximately 63.3 million tokens, although the burn rate, compared to the previous week, has seen a decrease of 6.81%. On January 21st, SHIB experienced a temporary price increase of 7.71% to reach $0.00002126, but then decreased by 3.85% to $0.00002043. This price fluctuation appears to be correlated with movements of Bitcoin, which also reached a recent high before experiencing a decline. Earlier today, SHIB lost its crucial $0.00002 level, but the token eventually managed to return to what is currently trading at $0.00002035, per CoinMarketCap.
