Crypto News Digest by U.Today

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Check out the top three news stories from the past day.

Binance CEO Faces SHIB Community’s Request to Burn Tokens

A recent post by Binance CEO Richard Teng, which focused on ETFs and the growing interest in Bitcoin, has caught the attention of the SHIB community. Instead of commenting on Bitcoin-related topics, SHIB enthusiasts urged Teng to consider initiating token burns similar to those performed for LUNC tokens, funded by trading fees. Binance has been actively burning LUNC since 2022 to help rejuvenate the Terra Luna Classic project following its significant downturn that year. The SHIB community’s appeal did not go unnoticed, as the team behind Shibburn tagged Binance in a post asking, "Imagine Binance burning from the SHIB trading fees just like they do for LUNC. Could it happen?"

Bitcoin Miners in Capitulation, but There’s Hope

Ki Young Ju, founder and CEO of CryptoQuant, recently addressed Bitcoin miners on social media. He indicated that the ongoing capitulation—a situation where miners sell off their Bitcoin holdings due to plummeting prices and low fees—is still in effect. Ju explained that historical data shows this capitulation typically concludes when the daily average mined value dips to 40% of the annual average. Currently, it sits at 72%. Ju forecasts that the market may experience a lack of excitement in the next two to three months, encouraging investors to maintain a long-term bullish outlook while being cautious of excessive risks.

John Bollinger Offers Key Portfolio Advice

John Bollinger has shared valuable investment and portfolio management strategies on his social media page. The renowned technical analyst, who developed the Bollinger Bands indicator, advised investors to avoid including “cruft” assets in their portfolios, emphasizing that this approach would facilitate better management of remaining investments. With the cryptocurrency market saturated—housing over 2.4 million different assets and a collective market cap of $2.14 trillion—Bollinger’s guidance on optimizing portfolios is particularly timely and beneficial for investors feeling overwhelmed by the vast number of options available.

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