SHIB Lead Issues Important Warning to Community, Cardano Might Hit Major New Record, Ripple Makes Progress in Singapore: Crypto News Digest by U.Today

U.Today - Here are the top three news stories over the past day presented to you by U.Today.

Shiba Inu (SHIB) lead issues important warning to community

In a recent tweet, Shiba Inu lead shared an important warning with his fellow SHIB community members. The warning concerns two tokens that Kusama is planning to introduce, SHI and TREAT. SHI is meant to be a stablecoin used to operate on both Ethereum and Shibarium through the volatile and fluctuating cryptocurrency market, while TREAT is intended to become a reward token. The Shiba Inu lead reminded the community that these two tokens are not available yet, urging SHIB enthusiasts not to fall for scams. Echoing Kusama's words, ShibArmy Scam Alert's Twitter account a screenshot showing a scammer sharing fake contract addresses for TREAT and SHI and a fake launch date for Shibarium.

Cardano (ADA) might hit enormous new record

dominance, a key indicator of its market strength, is about to set a new record. This indicator has been steadily growing as of late and currently stands at 0.93%, the highest value seen in a month. The rising dominance of ADA may be a sign of increased investor interest and confidence in Cardano. If this trend persists, ADA's dominance could soon surpass the important threshold of 1%. It is interesting to note that ADA's price performance mirrors its growing dominance. Cardano has added 20% to its value and is displaying an upward trend in trading volume. This uptick in volume suggests heightened activity and interest, which often fuels positive price action.

Ripple makes progress in Singapore

As by Ripple on its official Twitter handle, the San Francisco-based blockchain company in-principle approval from the Monetary Authority of Singapore (MAS). The license allows the company to offer regulated digital payment token services. Additionally, thanks to this license, Ripple will be able to increase the transnational movement of its associated cryptocurrency, XRP, primarily serving its banking and financial institution clients. Ripple CEO took to Twitter to express his delight regarding the achievement, writing that the company is proud to be one of a handful of firms honored to receive a license from MAS.

This article was originally published on U.Today