U.Today has put together a cryptocurrency news roundup featuring the highlights of the weekend.
Elon Musk shakes up the Doji community with his tweet – or does he?
On Sunday, billionaire and best-known Dogecoin fan, Elon Musk, announced that he will be sharing a new photo of Shiba Inu’s puppy, Floki. The last time this happened, Floki Inu, one of the many Dogecoin fakes, rose by 100% to the great delight of coin proponents.
However, as the crypto community sees today, coins are becoming less sensitive to Elon Musk’s tweets. After the Tesla CEO posted a photo of his charming pup, Dogecoin added 3.49% but quickly gave up its gains, Shiba Inu barely budged and Floki Inu is currently only 5% up.
Grayscale releases new report on Cardano
As part of a series of cryptocurrency educational overviews called “Building Blocks,” Grayscale has released a new report on Cardano, describing the main advantages of ADA and some of the major risks associated with it.
Among the reasons for the blockchain boom, Grascale calls Cardano’s strong community, broad accessibility and decentralization. The main risk factor is competition in the smart contract space, with Etherum, Solana and Avalanche vying for dominance.
Ripple Pulls 1 Billion XRP From Collateral, Restores 600 Million XRP
On October 1, the San Francisco-based fintech giant collected another billion XRP from its escrow account. Later in the weekend, Ripple returned 600 million of that amount and closed it. This time, the company returned a much smaller amount of XRP; Usually it is 800-900 million XRP.
Bitcoin Hash Rate Shows Amazing Recovery Despite Crypto Ban in China
According to Blockchain.com, on Saturday, October 2, the Bitcoin hash rate rose to 177.5 EH/s. After a significant drop in late June due to the ban on bitcoin mining in several Chinese provinces, the scale has finally managed to recover. It took less than three months for the Bitcoin hash rate to bounce back.
Whale grabs large amounts of SHIB
Over the weekend, an anonymous crypto whale added 276 billion Shiba Inu to the six trillion SHIB purchased last Thursday, giving the coin a 4.39% boost after the purchase. Other whales are interested in a grizzly, too. Now, the SHIB community expects Robinhood to list the cryptocurrency, with a Change.org petition signed by nearly 200,000 people.