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CashNews: Shiba Inu, EU’s Crypto Rules and Linear Finance ALARM🚨

CashNews: Shiba Inu, EU’s Crypto Rules and Linear Finance ALARM🚨

Shiba Inu Burn Rate Hittin’ the Sky with a 320% Surge 🚀 Over 130 Million Tokens Got Wiped in the Last 24 Hours!

So, according to Shibburn, our fav memecoin, Shiba Inu, is seeing a wild upswing in the number of tokens getting yanked from its circulating supply. We’re talking a 317% leap in its burn rate in just the last 24 hours! 📈 The total SHIB tokens sent to a dead wallet in the last 24 is 130,529,064. That’s almost a 320% uptick from the stats on September 20. Plus, the coin’s burn rate for the last week nearly hit 500 million assets. 🔥


Shiba Inu is among those crypto projects that have gone for a burning program to shrink the asset’s circulating supply, aiming to make SHIB rarer and more valuable. 🐕 The coin has a staggering token supply of 999,992,188,828,143, with over 41% already destroyed, says Shibburn’s data. This recent 317% burn rate bump isn’t as hefty as the 821% spike Shiba Inu saw on September 6. Back then, most of the burn was done by wallet 0x4be2b2c4, knocking off 71 million SHIB out of the 79 million tokens gone.


But, despite the burn program rolling, the coin’s price hasn’t seen any major gains lately. It’s up just 1.1% weekly and over 8% down for the past 30 days. 📉


EU’s MiCA Crypto Rules Dropping in July 2022, Aiming to Kick Out All Stablecoins in Europe by June 30 🚨

Per Foresight News, the European Union’s MiCA (Markets in Crypto-assets) rules are going live in July 2022, laying down the law for stablecoins in the EU. 🇪🇺 Marina Parthuisot, Binance’s French Legal Director, spilled in an online public hearing by the European Banking Authority (EBA) that no projects got the green light yet, and they’re planning to delist all stablecoins in Europe by June 30, 2022.


Linear Finance Sounding the Alarm 🚨: Don’t Trade LUSD Due to a Suspected Attack!

According to Foresight News, Linear Finance has thrown out a warning on the X platform, telling users to hold off on buying or trading LUSD as it might have been hit. The squad is currently digging into the issue. Liquidation is on pause, but user accounts are chillin’, no risks there.


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