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U.Today presents the top four news stories from the past.
278 million LUNA burned since Do Kwon posted the burning address
Last week, Earth Founder Do Kwon shared a LUNA burn address with his Twitter followers. Shortly after posting, the wallet received approximately 280 million LUNA tokens. Interestingly, two days after the publication of the wallet, Kwon explained that sending LUNA to that address is pointless and only leads to the loss of tokens. The effect of the “revealed tweet” was: 254 million LUNA had been sent to the wallet since the address was first published, and Kwon admitted that burning LUNA did not make sense, it only received 25 million. It is worth noting that the burning of approximately 300 million tokens had little effect on LUNA’s price and market cap. At the moment, LUNA is trading at $0.000193, with the project’s market capitalization of $1 billion.
Shiba Inu Metaverse Team Adds Former Technicolor Executive
According to an official announcement posted on Monday, Marcy Jastro, Technicolor’s former senior vice president, has joined Shiba Inu Metaverse team. “It is quite an honor to be part of such an amazing project,” Justro said in his statement, promising to help make the entire community a place to find and call their home. In his new position, the former Technicolor executive will be primarily responsible for securing brand partnerships.
Despite originally being announced in February, the Shiba Inu metaverse was introduced in late March. In early May, SHIB Metaverse users were enabled to start buying pieces of land with the help of SHIB tokens.
Anthony Scaramucci takes big position at Algorand
As Business Insider reports, Skybridge Capital’s chief Anthony Scaramucci A large position took place at Algorand (ALGO), praising the project’s technology. In addition, Scaramucci commented on the current state of the market; He believes that since there is no extreme panic in the air, stock market traders are yet to surrender. When asked about bitcoin’s price performance, the boss of Skybridge Capital declined to make any predictions, though said that “anything can happen.” Scaramucci also advises investors to turn to a dollar-cost averaging (DCA) investment strategy. He is sure that now is a wonderful buying opportunity for investors in the technology sector.
Three Factors That Will Favor Bitcoin Vs Crude Oil This Decade: Bloomberg Chief Expert
yesterday, Mike McGlone of Bloomberg Considered the trajectory of crude oil price relative to bitcoin on his Twitter account. According to the Chief Commodity Strategist, within this decade, bitcoin will grow, unlike crude oil, due to three factors: adoption, supply and demand. McGlone said that, so far, the trajectory on the charts has been unfavorable for crude and favorable for BTC, adding that there is a good chance it will remain the same. Lately, the acceptance of bitcoin has been increasing rapidly, as more financial institutions and retail investors are buying BTC to make long-term bets on it.