Crypto News Digest by U.Today By U.Today

U.Today – The first weekend of September was quite eventful for the cryptocurrency industry. Don’t miss the most important news with U.Today’s top four stories.

Shibarium surpasses one million wallets as millions of SHIB go up in flames

On Saturday, Sept. 2, Layer 2 solution hit a new record in terms of the total count of wallets. According to data by Shibariumscan.io, this metric surged to one million, adding about 300,000 just overnight. Currently, Shibarium can boast of 1,100,823 wallets. The count of transactions also saw an impressive increase — from 700,000 reached on Friday to 990,016 at the moment of writing. On the same day, the SHIB army managed to send 43,163,517 SHIB to dead-end wallets, which pushed the burn rate up by more than 71%.

founder Vitalik Buterin makes mystery move with large ETH transfer

The official X handle of Spot on Chain monitoring platform has recently reported some intriguing financial moves by Ethereum cofounder . Over the weekend, he transferred ($1.63 million) between well-known Ethereum addresses. In addition to this, Buterin also sold 500 Maker (MKR) tokens worth $580,000 for 353.4 ETH, which he then moved to another address. The reasons behind the cofounder’s actions remain unknown, which led some to wonder if this could be an indicator of future market moves.

lead Kusama: Do not expect Shibaswap immediately

SHIB lead developer has recently shared an update on Shiba Inu’s key components’ progress on his Telegram channel. He announced that Wrapped Bone (WBONE) token, which makes BONE compatible with smart contracts and dApps on the Shibarium, is complete, also adding that verified contracts are done. Then Kusama stated that the launch of Shibaswap decentralized exchange should not be expected “immediately,” as the team wants to let other Shibarium-based projects take off first.

price history rings bell as BTC nears halving

As halving is less than 220 days away, prominent crypto analyst Benjamin Cowen has pointed out some concerning statistics on the flagship crypto. Cowen wrote that BTC’s return in August, which was -11.31%, is quite similar to the -11.71% average of the last two pre-halving years. Referring to historical data, the analyst found that the average return for Bitcoin in all prior Septembers during prehalving years was -17.29%, with an average price of $21,400. Only the last two Septembers demonstrated less severe losses, at -5.66%, with an average price of $24,400. Per Cowen’s observations, BTC tends to show negative dynamics ahead of halving.

This article was originally published on U.Today