U.Today – Check out the top three stories from the past day brought to you by U.Today.
The price turns the bull green on Christmas Eve
Yesterday, on Christmas Eve, the crypto market experienced a positive change, with many digital assets, including XRP, seeing an increase in value. Ripple's combined asset value grew by more than 5.1%, reaching $2.325. Traditionally, the holiday season brings a fiery atmosphere to the market, which can affect trading behavior. However, as traders and fund managers complete their year-end accounts, the impact of traditional financial practices may affect the cryptocurrency landscape, especially with the involvement of large institutions such as BlackRock (NYSE:) and Fidelity. At the time of writing, XRP is trading at $2.29, down almost 1% in the last 24 hours, according to CoinMarketCap.
SHIB heats up the fall as price makes an unexpected pivot
According to Shibburn blockchain tracker data, the burn rate has dropped significantly. Although the burning activity decreased by more than 64%, the SHIB community managed to burn 3,166,691 SHIB meme coins in the last 24 hours. This was achieved through six burning transactions, with large transfers of 1,040,537 and 1,008,249 SHIB coins. On Monday, SHIB enthusiasts collectively burned about 10,000,000 SHIB by sending it to unused wallets. At the moment, the current burning rate does not seem to affect the value of SHIB, which has increased from $0.00002117 to $0.00002336. Currently, SHIB is changing hands at $0.000023, up 0.12%, according to CoinMarketCap.
$2,200,000 each – Max Keizer estimates
Max Keiser, a famous Bitcoin maximalist and former financial journalist, made a very bad price prediction for Bitcoin, suggesting that it could reach $2,200,000 per coin in the long term. Keiser's prediction comes as a comment in an X post discussing Bitcoin holdings in various countries, including El Salvador, where he lives and works as an adviser to President Nayib Bukele. The first post of X assumed that if many large countries began to actively collect Bitcoin, its value could increase significantly in 12 to 24 months. Keiser's new estimate marks a tenfold increase from his previous estimate of $220,000 per Bitcoin.