Significant SHIB Burn, XRP Price Recovery, and Tether’s USDT Minting

Recent developments in the cryptocurrency market highlight a significant burn of 25,696,960 SHIB tokens, a stabilising trend in XRP prices, and Tether’s minting of 1 billion USDT on the Tron blockchain. SHIB’s burn does not noticeably influence its price, while XRP shows signs of recovery. Tether’s minting could lead to market liquidity enhancements, impacting Bitcoin and other assets.

In a rapid development, 25,696,960 SHIB tokens were burned within 24 hours, as reported by Shibburn’s on-chain tracker. This action marked a notable 116.76% increase in the token’s burn rate. The process involved six separate transactions, with the largest ones transferring 14,879,045 SHIB and 8,000,000 SHIB. Despite this burn effort, SHIB’s price remained stable at $0.00001291, reflecting a 3% increase over the same period.