XRP Community Gets Important Warning on New Threat, BlackRock CEO Suggests Bitcoin Price Might Reach $700,000, Shiba Inu Burns Jump by 5,785%: 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.

XRP community gets important warning on new threat: Details

XRPScan, a popular XRP Ledger Explorer, has recently issued an important warning for the XRP community on the X platform. The warning concerns speculations about an XRP account allegedly linked to the U.S. Treasury. The platform urged users to exercise caution and to "do their own due diligence before trusting, buying, or selling tokens on the public ledger." XRPScan emphasized that, like any public blockchain, anyone can create an account on the XRP Ledger and set the fields to whatever they like, and that explorers serve as neutral platforms that do not censor information unless absolutely necessary. In light of these concerns, XRPScan flagged the suspect account as spam as a temporary measure.

BlackRock (NYSE:BLK) CEO suggests Bitcoin price might reach $700,000

During a discussion with Bloomberg’s Francine Lacqua at Bloomberg House in Davos, BlackRock CEO Larry Fink stated that Bitcoin's price could rise to $700,000 with broader institutional adoption. Fink shared insights from a recent conversation with a sovereign wealth fund; the fund was asking the BlackRock boss whether it should have a 2% allocation or a 5% allocation. "If everybody adopted this conversation, it would be $500,000, $600,000, $700,000 per Bitcoin…I am not promoting it by the way. That is not my promotion," he said. As previously reported by U.Today, Fink consistently argued that Bitcoin may serve as an alternative to gold, as well as a hedge against currency debasement and political instability. According to SoSoValue, BlackRock's iShares Bitcoin Trust ETF has now exceeded $60 billion in net assets.

SHIB burns skyrocket 5,785%

According to recent data by Shibburn, the SHIB community disposed of over 3.2 million SHIB tokens in the previous 24 hours. Thanks to their actions, the burn rate of the dog-themed meme crypto increased by 5,785%. However, despite this substantial spike in burn activity, the price of SHIB has remained relatively stagnant. Over the past week, the total amount of SHIB destroyed reached approximately 63.3 million tokens, although, compared to the previous week, the burn rate has seen a drop of 6.81%. On Jan. 21, SHIB experienced a temporary price surge of 7.71%, reaching $0.00002126, but it then plunged by 3.85% to $0.00002043. This price fluctuation appears to be correlated with movements of Bitcoin, which also reached a recent high before experiencing a decline. Earlier today, SHIB lost its crucial $0.00002 level, but the token eventually managed to return it, currently trading at $0.00002035, per CoinMarketCap.

This article was originally published on U.Today