XRP Hits Ultra Rare Golden Cross Versus Bitcoin, 6.51 Trillion SHIB Anomaly Stuns Shiba Inu, Ethereum’s Buterin Says Pectra Will Double L2 Capacity: Crypto News Digest by U.Today

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XRP hits ultra rare golden cross versus Bitcoin

XRP has recently demonstrated curious activity on its price chart, raising questions about whether this signals the beginning of "something bigger" or just another fluctuation on the volatile crypto market. The token has experienced a remarkable 367% increase against Bitcoin since November, a performance that is hard to ignore. Now, the asset has formed a golden cross on the weekly time frame, a technical indicator that typically suggests strong bullish momentum. However, the unpredictable nature of the crypto market complicates the outlook. Currently, XRP is valued at 0.000026 BTC, reflecting a 33.8% rise over the previous 24 hours, although it remains far from its record high of 0.00025 BTC set in May 2017. Achieving such heights would require XRP’s market cap to exceed $1 trillion, which would result in the asset’s price surpassing $24.7.

6.51 trillion SHIB anomaly stuns Shiba Inu coin

According to recent data from IntoTheBlock, there has been a significant anomaly in the Shiba Inu token’s on-chain activity. Whale wallets experienced a 673% increase in outflows, totaling 6.51 trillion SHIB in just 24 hours. What makes this a rare occurrence is that this surge in outflows was matched by an equal amount of inflows (also about 6.51 trillion SHIB). Detailed data indicates that outflows slightly exceeded inflows, resulting in a net total for the period of 3.29 billion SHIB. At the price of $0.000015, this amount is worth approximately $50,000, which has minimal impact on the overall market. The data suggests a divided opinion among wealthy SHIB holders, as both selling and buying activities are occurring at significant levels. Currently, SHIB’s price remains stable within a tight range of $0.0000147 to $0.000017, with ongoing market dynamics determining where the meme token goes next.

Ethereum’s Buterin says Pectra will double L2 capacity

In his recent X post, Ethereum cofounder Vitalik Buterin stated that the upcoming Pectra hard fork is set to double the capacity of layer-2 networks. This will be achieved by increasing the blob target from 3 to 6. "Blobs" are large data packets introduced with the Dencun hard fork in early 2024 that aim to enhance scalability for these networks. Buterin emphasized the necessity of scaling to retain users, warning that "if Ethereum does not offer this, then people will find it elsewhere." The Pectra hard fork, which includes a slew of various Ethereum improvement proposals (EIPs), is scheduled for release in March. It was initially planned as the most ambitious Ethereum upgrade with 20 improvement proposals. However, it was later divided into two. Additionally, Buterin suggested that the blob target should be subject to staker voting, allowing for adjustments in response to technological advancements without waiting for future hard forks.

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