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Crypto News Digest by U.Today
Valeria Blokhina
Don’t miss U.Today’s news roundup with the hottest stories from this past weekend!
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U.Today has prepared the top three stories from last weekend.
Edward Snowden issues crucial warning about Bitcoin: “The clock is ticking”
As recently known from the post on the official X handle of Wasabi Wallet, a leading player in Bitcoin privacy solutions, zkSNACKs, the company that pioneered the development of Wasabi Wallet, has decided to close its coordination service as of June 1, 2024. The change has generated significant concern among members of the crypto community, and for good reason, as it will affect not only Wasabi Wallet users, but also users of other wallet clients connected to the zkSNACKs coordinator, such as Trezor Suite and BTCPayServer. Although its coinjoin coordination service has been discontinued, Wasabi Wallet will continue to function like a Bitcoin wallet but with reduced privacy features. The news caught the attention of Edward Snowden, the world-famous whistleblower; In an X post, he wrote about warning Bitcoin developers for 10 years that privacy needs to be provided at the protocol level. “This is the final warning. Time is running out,” Snowden urged as he concluded the your post.
DOGE has been officially added to Tesla’s payment options, but there’s a problem
Dogecoin, the dog-themed meme cryptocurrency, was recently added as an official payment option on the website of Tesla, an electronic car manufacturing company run by Elon Musk. However, those who wish to use their Dogecoin on the Tesla website can only do so at the Tesla online store to purchase merchandise. The Payment, Checkout, and Pricing sections in Tesla Shop features it says: “Dogecoin may also be accepted on select products.” However, this modest development was enough to spark enthusiasm among the Dogecoin community; Following the news, the price of DOGE rose over 21% on Saturday, May 4, reaching $0.159. At the time of writing, however, DOGE is trading at $0.156, down 2.70% in the last 24 hours, according to CoinMarketCap. As a reminder, Tesla’s first experimental adoption of DOGE was attempted in January 2022. Later, in March 2024, Elon Musk stated that they should add DOGE as a payment option at some point in the future.
Shiba Inu to erase zero? 110 trillion SHIB is the key to a 100% price jump
Shiba Inu may be ready to do a significant change in its price action, with a cap of 110 trillion SHIB being the key to the price of SHIB doubling in value. Data provided by IntoTheBlock’s breakeven price indicator demonstrates that 110.27 trillion SHIB were purchased by 327,200 Shiba Inu addresses between the range of $0.000026 and $0.000051 at an average price of $0. 000034, which is quite close to the Shiba Inu’s current price range. This suggests that over 327,000 addresses would need SHIB to increase to $0.00005 to break even. Although the 110 trillion SHIB tokens represent a strong barrier, they are also the key to a possible price increase. Based on current Shiba Inu prices, a jump to $0.00005 would indicate a 100% increase in the value of SHIB. What gives this threshold additional significance is that a successful breach above it could help SHIB remove a zero from its price. At the time of writing, SHIB is trading at $0.0000243, down 2.43% in the last 24 hours.
About the author
Valeria Blokhina
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news from the world of cryptography and blockchain.