SHIB Team Member Shares Initial Reason Behind Creation of BONE, Ripple CLO Teases Resolution of XRP Case, Max Keizer Says Bitcoin’s ‘Divine Candle’ is Coming: U.Today’s Crypto News Digest

SHIB Team Member Shares Initial Reason Behind Creation of BONE, Ripple CLO Teases Resolution of XRP Case, Max Keizer Says Bitcoin's 'Divine Candle' is Coming: U.Today's Crypto News Digest

Guru-Investinggives you an overview of the previous day’s crypto events with the top three news stories.


Guru-Investinggives you an overview of the previous day’s crypto events with the top three news stories.

Here’s why BONE was created in the first place: Team member reveals Ryoshi’s initial plan

Yesterday, May 8, Shiba Inu Marketing Lead Lucie used the X platform. reveal the true plan behind the creation of the BONE token. Initially, SHIB founder Ryoshi wanted to make BONE as a reward token for SHIB holders. However, later, the purpose of the token was changed to facilitate SHIB burns using Shibarium, Shiba Inu’s layer 2 solution. Lucie did not share whether the decision preceded or followed Ryoshi’s departure from the project in May 2022. Currently, BONE tokens are used to power transactions on Shibarium, and serve as a means to pay gas fees. As a conclusion for her. x publicationLucie stressed the importance of each token playing its own role in the Shibarium ecosystem.

Billions of Shiba Inu (SHIB) in the last 24 hours: what are they doing?

Ripple CLO Teases XRP Case Resolution: “We Are Closer Than Ever”

According to a recent post on X by James K. Filan, in the latest development in the Ripple v. SEC, the regulatory agency filed its brief redacted response on remedies and its supporting exhibits. The news caught the attention of Ripple CLO Stuart Alderotywho turned to social networks comment about these legal maneuvers. Alderoty criticized the SEC for failing to “faithfully apply the law” and attempting to mislead the judge overseeing the case. He then accused the agency of disrespect toward financial regulators outside the US. On the optimistic side of Alderoty’s position, the CLO hinted at the imminent resolution of the Ripple case, saying the company is “closer than ever” to leave the lawsuit behind. . However, he added, while Ripple is nearing the end of its lawsuit journey, many companies are unfortunately just getting started.

Ripple’s stablecoin project is already attacked by the SEC

Bitcoin’s ‘God’s Candle’ Is Coming, Says Max Keizer, Revealing the Main Reason

In a recent x publication, prominent Bitcoin supporter Max Keizer shared an optimistic prediction about Bitcoin price. Keizer’s post is a comment on X user @Vivek4real_’s observation, which states that the supply of Bitcoin held on exchanges has reached all-time lows and a “supply shortage” is looming. To this, Keizer responded by revising his favorite “Bitcoin at $220,000” prediction, saying that this price level is “still in play.” However, this time he provided a new reason to believe that this outcome is quite possible; According to the Bitcoin advocate, the asset’s “demand shock meets supply shock.” Furthermore, Keizer stated that he expects to reach $220,000 as a result of the “God candle” on the Bitcoin chart. At the time of writing, Bitcoin is changing hands at $62,032, down less than 1% in the last 24 hours, according to CoinMarketCap.

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