Crypto News Digest by U.Today

Top Three News Stories from the Crypto World

Potential Launch of SHI Stablecoin Hinted by SHIB Team
On September 26, Lucie, the marketing lead for the Shiba Inu project, shared insights about the SHI stablecoin in a social media update. She clarified that SHI is still under development and has not yet been released. Originally introduced by the SHIB creator Ryoshi in 2021, SHI aims to serve as a stable and decentralized currency. The plan is to peg SHI at $0.01, though the specifics of this mechanism are yet to be finalized. Lucie noted that SHI is expected to enhance liquidity, engage users within the Shibarium ecosystem, and function as a key asset in decentralized finance (DeFi) applications. The stablecoin is anticipated to help stabilize transactions and attract new users by reducing the risks associated with cryptocurrency price volatility. As for the launch timeline, Lucie mentioned that the Shib ecosystem plans to integrate SHI once the infrastructure is fully prepared to ensure stability and utility in decentralized finance.

XRP Community on Edge Following Co-founder Chris Larsen’s Wallet Activity
In an unexpected turn of events, the wallet of Chris Larsen, co-founder of Ripple, became active for the first time in 11 years on September 20, with a transfer of 50 million XRP, valued at over $29 million, to an unknown wallet. Following this, XRP supporters began tracking the movements of Larsen’s funds, discovering that a portion was sent to the Binance exchange, leading to speculation regarding its potential use in Ripple’s On-Demand Liquidity (ODL) service. However, it was later revealed that some XRP were moved to various exchanges, including a transfer of 30 million XRP to Coinbase. This has raised concerns within the community about Larsen’s intentions—whether he is planning to sell the XRP or use it for ODL. Some even speculated about a possible hack, although Larsen has not yet commented on the situation.

Activation of Old Bitcoin Wallets Raises Eyebrows
Recently, there has been a notable increase in the activation of long-dormant Bitcoin wallets. According to Whale Alert, a wallet containing 28 BTC, valued at around $1.8 million, was activated after 13 years of inactivity. Additionally, another early Bitcoin address with 24 BTC reemerged on September 24, and on September 22, some of the earliest mined Bitcoins were transacted for the first time in over 15 years. However, on-chain analysis suggests that these coins are unlikely to be linked to Bitcoin’s creator, Satoshi Nakamoto. The Bitcoin community is buzzing with theories about this sudden increase in activity, with speculations ranging from possible hacks to users simply rediscovering their old passwords.