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Take a look at what’s happening in the world of crypto by reading U.Today’s top three news stories.
Shiba Inu (SHIB) partner Welly’s boasts major upgrade
In a recent post, @katametron1, the X account of developers of the Italian SHIB-themed fast food chain Welly’s, has shared a preview of the company’s new website, with the full version promised to arrive soon. The restaurant established a partnership with Shiba Inu almost right after opening its first establishment in Naples, Italy, in 2021. To commemorate this partnership, Welly’s decided to use the Shiba Inu dog as its official mascot. As the fast food chain is integrating with recently released Layer-2 solution Shibarium, the SHIB community hopes that Welly’s will start actively participating in the burning of SHIB tokens.
BTC, ETH whales playing waiting game, here’s how
Data provided by Santiment on-chain analytics firm reveals that large holders of Bitcoin and Ethereum, also known as whales, are playing the waiting game in anticipation of higher prices in the days ahead. Per the data, large transactions (transactions worth more than $100,000) are at their lowest levels so far in 2023. “This is a sign of whales likely waiting, and not necessarily disinterest,” Santiment concludes. The accumulating tendency was also spotted by Bitcoin analyst Charles Edwards, who wrote “They are accumulating for the next bull run.” He also noted that over 57% of BTC holders on the network have not moved their capital in over two years.
Shibarium set to hit big utility milestone
As the number of total transactions on Shibarium keeps growing, the Layer-2 network is inching closer to a major utility milestone. At the moment, Shibarium is less than 100,000 transactions away from surpassing the three million mark. If the daily transactions continue the ongoing trend, Shibarium might achieve this milestone in a few days. Since its relaunch in August, the Layer-2 network has witnessed impressive growth. Currently, it has reached 2,914,542 total transactions; 1,246,683 wallet addresses and 713,831 total blocks.