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Cardano Critic Admits Buying ADA, Says ADA Could See Biggest Gains Among Top Assets, Targeting $5

Sam Wisdom Raphael
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Cardano Critic Admits Buying ADA, Says ADA Could See Biggest Gains Among Top Assets, Targeting $5

A prominent Cardano critic has admitted to loading up on ADA, suggesting the altcoin could deliver the most gains among top tokens.

Alex Becker, a well-known crypto investor and YouTube analyst, has surprised market participants by continuously endorsing Cardano (ADA) as one of the top assets for the current bull market, despite repeatedly expressing his distaste for its community. 

Known for his candid and often controversial takes, Becker has nevertheless doubled down on ADA’s upside potential, identifying it as a standout among major altcoins and predicting price targets as high as $4 and $5.

Cardano Has Biggest Upside Potential

In one of his more recent analyses, Becker positioned Cardano as the most likely among top-layer one projects to deliver outsized gains during the current bull cycle. 

He emphasized that while coins like Solana have already experienced massive price runs, moving from $12 to over $100, Cardano has yet to reflect similar upward momentum. According to him, this sets the stage for ADA to catch up and potentially outperform.

Becker believes that Ethereum still has room to grow, projecting a potential 3- 5x return for ETH in an optimistic scenario. He suggested that Ethereum could soar to a range of $5,000 to $10,000. 

However, according to him, should Ethereum hit an ATH, assets below it, including ADA, would see massive rallies. Becker called attention to several altcoins, such as Avalanche (AVAX), Sui, Dogecoin (DOGE), XRP, and Cardano. He believes they all have some upside potential.

ADA to $5?

Nonetheless, he argued that ADA could see the highest upside, arguing that its surge could be significantly greater than Ethereum’s, possibly boasting 5- 7x gains. He hinted at a bullish target of $4. However, in a previous disclosure, he suggested Cardano could go as high as $5. 

A rally to $5 for ADA would mark a 681% increase from the current levels. Barely two weeks ago, Becker admitted that the Cardano blockchain was “fast as hell,” reiterating his $5 target. Market expert Decode and crypto exchange CoinW have also projected a $5 target for ADA.

Further, besides his $5 prediction, Becker has continually acknowledged the strengths of the Cardano chain despite his dismissive attitude toward ADA holders. He noted that Cardano’s technology is solid, even hailing the project’s founder, Charles Hoskinson, for his outspoken nature, which he ironically described as a bullish sign. 

Meanwhile, Becker’s change of stance on Cardano is also evident in his portfolio strategy. In February, he openly stated that he had exited his Solana position entirely and shifted those funds into Ethereum and Cardano. 

Notably, he acknowledged that Solana had strong performance but felt that its recent price surge had already priced in much of the upside. In contrast, Cardano, according to Becker, still offered “layup” returns with a clear path to significant appreciation.

Becker Admits to Procuring Cardano

Also, throughout the past several months, Becker has consistently highlighted Cardano’s promising technical foundation and undervaluation compared to its peers. While he has often joked about his dislike for ADA holders, his investment actions tell a different story. 

In multiple updates between January and March, Becker confirmed that he had been accumulating large quantities of Cardano, describing it as one of his biggest portfolio moves, alongside projects like TAO, ONDO, and Chainlink.

Cardano Founder Prepares for High-Risk Journey After Cardano Achieved Full Decentralization

Lele Jima
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Cardano Founder Prepares for High-Risk Journey After Cardano Achieved Full Decentralization

IOG CEO and founder Charles Hoskinson reflects on Cardano longevity and commitment to decentralization, saying those were his life’s work.  

Over the weekend, the Cardano founder appeared in a live stream titled ‘See You on the Other Side.’ During the live stream, he reflected on his leadership role at IOG and how the team achieved major milestones, positioning Cardano as a fully decentralized project capable of ‘standing the test of time.’ 

Cardano Governance System Evolution 

He highlighted how Cardano’s governance system has evolved from a centralized approach to full decentralization. Hoskinson suggested that Cardano achieved this feat under the Voltaire governance framework, which commenced in Q3 2024. 

Following the launch of the Voltaire era, Hoskinson said Cardano passed a new constitution, validated through an on-chain ratification process and constitutional convention. 

He added that Cardano now has nearly a thousand registered Delegated Representative Entities (DREs), with the network’s decision-making power distributed among them. Based on this measure, the broader Cardano community now has the authority to make key decisions and determine the project’s future direction. 

Cardano Free From Centralization 

Given this milestone, Hoskinson emphasized that he and the team have removed all elements of centralization from Cardano, positioning it as a fully decentralized project. Notably, the concept of decentralization is a core principle that many blockchain projects strive to achieve. 

Further, he stated that Cardano is designed to last and stand the test of time, much like Bitcoin. This indicates that Hoskinson views Cardano as a resilient platform that can survive harsh conditions. As a result, he took pride in Cardano’s achievements, noting that they were ‘his life’s work.’

Despite celebrating the milestone, he signaled that his work was not complete. He hopes to see Cardano’s decentralization and resilience ‘get to the next level.’ 

Hoskinson to Embark on a High-Risk Trip 

For context, Hoskinson appeared on the livestream after his short trip to Paris, France. While still recovering from the trip, he revealed plans to embark on another journey to somewhere he called ‘dangerous.’ 

The Cardano founder suggested that the journey is dangerous to the extent that it could lead to death. Given the risks involved, Hoskinson said he chose to do the weekend livestream just in case he did not make it back home. 

Nonetheless, he is fulfilled with his efforts at Cardano, describing its attainment of decentralization and resilience as his life’s work. 

Top Pundit Says XRP and Cardano are Pretty Underrated at the Moment

Elendu Benedict
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Top Pundit Says XRP and Cardano are Pretty Underrated at the Moment

The Modern Investor, a prominent crypto pundit, has made a bold claim regarding three prominent crypto giants: Bitcoin, XRP, and Cardano.

The cryptocurrency market has rebounded extensively from last week’s sideways trend as negative macroeconomic impacts dwindle. XRP, for instance, has appreciated 31% from an intra-week low of $1.614 the previous week, with most other digital assets following a similar path.

Nonetheless, most top-tier cryptocurrencies remain considerably lower than last year’s closing prices. Assets like Bitcoin and Cardano are down 10.61% and 24.26%, with XRP receding 37% from its January high of $3.399.

Meanwhile, prominent market pundit the Modern Investor has asserted that the three assets mentioned earlier are selling at a massive discount. In a recent tweet, he insinuated that they would see far higher prices in the near and long term, citing developing bullish traction.

Prominent Blue-Chips Pretty Underrated

The analyst affirmed a bullish disposition towards Bitcoin, Cardano, and XRP. He branded them “pretty underrated” at their current market price, insisting on a sustained upward momentum to higher prices.

His Saturday post highlighted an earlier update from March 4, which maintained a similarly bullish stance. The prominent pundit stated in the commentary that those not holding XRP, Cardano, and Bitcoin might be in financial ruin this year.

The YouTube video mentioned a few reasons for this bias, including Donald Trump’s establishment of the US crypto reserve. The pro-Bitcoin president, who vowed to make America the crypto capital of the world, announced XRP and Cardano as part of the national stockpile on March 2.

The Modern Investor highlighted that the fact that any government could consider cryptocurrencies like XRP and Cardano as a hedge against their local fiat currency is a precursor for massive adoption.

Furthermore, the analyst highlighted the bullish momentum around the XRP ecosystem following Ripple’s strategic partnership with 12 central banks and world governments to use XRP and facilitate the creation of central bank digital currencies (CBDC) and stablecoins using the XRP Ledger.

For context, a report emerged that Ripple is in contact with over 30 countries to adopt its CBDC platform. Notably, the firm has confirmed partnerships with five of them, including Colombia, Bhutan, and Hong Kong, while making considerable progress with other nations.

The Modern Investor believes this development makes XRP and Cardano wise bets, predicting a price explosion in the near term. Yesterday, he reiterated this stance while urging market users to consider aping into the blue-chip assets.

Possible Targets for XRP and Cardano

Meanwhile, the analyst is not alone in his undervaluation theory regarding XRP and Cardano. For context, millionaire pundit Alex Becker has insisted that most major crypto assets sell at an unnatural discount, urging massive accumulation. Specifically, he asserted that Cardano could easily skyrocket to $5.

Additionally, analyst Dr. Cat has stressed that XRP’s minimum peak price for the cycle is $4.5, with other targets like $20, $50, and $100 still realistic targets for the XRPL native token.

At the time of writing, XRP holds the all-important $2 price mark, trading at $2.13. ADA, on the other hand, exchanges hands at $0.64.

Cardano Google Search Surge Fuels Talks of 300% ADA Price Breakout

Albert Brown
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Cardano Google Search Surge Fuels Talks of 300% ADA Price Breakout

Notable market watchers recently highlighted that Cardano search interest in Google Trends matches the levels last seen in November 2024.

This has raised expectations of a potential price breakout for ADA. Notably, Cardano saw significant price growth between April 7 and April 14, 2025, with its value increasing by 22.86%, from approximately $0.54 to $0.66.

However, the price has dropped slightly over the past 24 hours. Despite this minor pullback, ADA’s overall momentum remains relatively strong.

Cardano Google Search Surge

In a tweet, market commentator “Angry Crypto Show” pointed to the surge in Cardano search volume as a potential bullish signal. According to the commentary, global search interest for Cardano on Google Trends closely mirrors a spike observed on November 2, 2024.

Notably, ADA’s price jumped nearly 300% during that previous surge, climbing from around $0.36 on November 2 to $1.14 by November 23.

The latest uptick in search volume has led some to speculate that Cardano could be poised for a similar rally. A commenter to the post shared this perspective, adding to the expectations of a possible breakout.

However, an analysis by The Crypto Basic clarified that the reported spike in Cardano’s search interest actually occurred in early March. At the time, ADA was trading above $0.75. Since then, search interest on Google has declined, reflecting the asset’s price drop over the past 30 days.

Cardnao google search interest
Cardnao Google search interest

Factors Behind Cardano Interest Surge

Notably, several key developments are shaping the continued interest in Cardano. On April 12, Charles Hoskinson, the platform’s founder, revealed that it has now achieved full decentralization. 

This milestone marks the culmination of over ten years of development efforts. During a live stream, “See you on the other side,” Hoskinson reflected on Cardano’s journey and highlighted the accomplishments under the Voltaire governance framework.

He also indicated that he might step back from his active role in the ecosystem. Along with this message, IOHK’s product manager shared that Cardano had processed an impressive 15.5 billion transactions in just 24 hours.

This surpasses the daily transaction capacity of Visa, which handles approximately 65,000 transaction messages per second.

Cardano Long-Term Price Stagnates

However, despite these advancements, Cardano’s price has continued to trade below $1. Analyst Jesse Olson shared a chart on X showing that ADA is trading in the same price range of $0.55 to $0.60 where it traded 1,519 days ago. 

Several surges and corrections have marked this long-term stagnation. However, ADA has yet to achieve a new all-time high. The analysis emphasized that past performance does not assure future success, questioning the belief that long-term holding through multiple market cycles guarantees profits.

Here Are Top News and XRP Price Predictions for the Previous Week

Abdulkarim Abdulwahab
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Here Are Top News and XRP Price Predictions for the Previous Week

The previous week in the crypto industry saw major reports surrounding XRP and bullish developments related to the coin.

Although the price of XRP has been slow to react to these developments, proponents remain hopeful that the token’s future is bright and that higher prices will eventually emerge.

Major XRP Development from Ripple’s Lawsuit

One of the most pivotal XRP-related events from last week was the agreement between Ripple and the SEC to pause their appeal processes. Both parties are now pursuing agreeable settlement terms.

Notably, Ripple has negotiated reduced fines from the SEC as well as the lifting of its ban on future XRP sales to institutions. While the agency has temporarily agreed to this request, the agreement is still subject to a vote from the SEC commissioners.

Final approval would end the nearly five-year-long lawsuit, an outcome many see as highly bullish for XRP.

Ripple’s Biggest Deal Ever and What It Means for XRP

Beyond legal developments, XRP also experienced a major milestone on the partnership front last week. The most significant of these was Ripple’s announcement of its largest acquisition to date: the purchase of Hidden Road for $1.25 billion.

Ripple’s Chief Technology Officer, David Schwartz, confirmed that the acquisition would significantly benefit XRP’s blockchain, the XRP Ledger (XRPL), and, by extension, its native token, XRP.

Some analysts have speculated that this development could allow the XRP Ledger to handle $1.5 trillion in annual transaction volume. Such a high level of capital flow through XRPL is viewed as highly bullish for the XRP coin.

Interestingly, XRP enthusiasts have highlighted Ripple CEO Brad Garlinghouse’s comment that the deal could help financial institutions like BlackRock enter the crypto space more easily. His mention of BlackRock sparked speculation about a potential partnership.

XRP ETF Debut

Additionally, an XRP ETF debuted in the U.S. market last week with significant momentum. Notably, this was the XXRP, a 2x leveraged ETF by Teucrium. On its first day of trading, it recorded a massive $5.4 million turnover, even in a largely bearish market. This figure was four times higher than that of a Solana ETF on its debut day.

This impressive ETF launch attracted industry-wide attention, with many interpreting it as further confirmation that demand for XRP products in the U.S. is underestimated. Commentators like John Deaton used the moment to suggest that XRP could rise in value to become the second-largest cryptocurrency after Bitcoin.

Bold Price Prediction from a Multinational Bank

Also last week, the XRP community welcomed bold price predictions from Standard Chartered, a multinational bank. Notably, the bank projected that XRP could reach $5.50 in 2025, which would mark a new all-time high. Looking further ahead, the bank forecasted that XRP could surpass $12 by 2028.

SBI Confirms Ripple’s Latest Acquisition, Highlights Its Impact on XRP and RLUSD

Lele Jima
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SBI Confirms Ripple’s Latest Acquisition, Highlights Its Impact on XRP and RLUSD

Japanese financial services company SBI Holdings has drawn public attention to Ripple’s acquisition of fast-growing prime broker Hidden Road. 

This came days after Ripple announced it spent $1.25 billion to acquire Hidden Road. Ripple portrayed the acquisition as one of the biggest in the digital asset industry. Following the acquisition, Ripple became the first crypto company to own and operate a multi-asset prime broker. 

The deal sent shockwaves across the financial industry, with SBI Holdings and its subsidiary SBI Ripple Asia highlighting the milestone.

SBI Highlights Ripple’s Latest Acquisition 

SBI stressed that Ripple paid $1.25 billion for the acquisition using a multi-faceted payment method that included XRP, treasury stock, and cash. The announcement from SBI Holdings highlighted Ripple’s plans to infuse billions of dollars into Hidden Road’s operations.

Specifically, Ripple will infuse the funds into Hidden Road’s clearing, prime brokerage, and finance platform. SBI indicated that the rationale behind this infusion is to meet capital needs on a rapid scale.

Interestingly, the press release mentioned the role of Ripple’s USD-pegged stablecoin (RLUSD) in the acquisition. 

According to the announcement, RLUSD will be the first stablecoin to facilitate efficient cross-margining between crypto and traditional assets. This functionality will bolster RLUSD’s role as a suitable enterprise-grade USD-backed stablecoin. 

Hidden Road to Utilize XRPL for Its Post Trades

Further, SBI Holdings noted that Hidden Road will transition its post-trade activities to the XRP Ledger, endorsing XRPL as a leading blockchain for decentralized finance and financial institutions. 

Last week, Ripple CEO Brad Garlinghouse confirmed that Hidden Road clears about $3 trillion annually for more than 300 global financial institutions. The prime broker achieved the feat through fiat rails despite experiencing slower transaction speed and high fees. 

However, following Ripple’s acquisition of Hidden Road, Garlinghouse expects the prime broker to clear a portion of its $3 trillion flows using XRPL and its native token XRP for faster and lower-cost settlements. 

Meanwhile, SBI’s comments demonstrate how the Japanese financial services company views the acquisition. The acquisition is a strategic move that could benefit Ripple and its partners, including SBI Holdings.

Notably, in the press release commenting on the Hidden Road acquisition, SBI Holdings referred to Ripple as its ‘important partner.’ It first partnered with Ripple in 2016, creating SBI Ripple Asia, which leverages XRP for cross-border settlements. 

Interestingly, SBI Holdings stayed with Ripple despite battling a multi-year lawsuit with the SEC. With the lawsuit nearing its conclusion, SBI expects Ripple to experience significant growth. 

Cardano Founder Slams Investing in Newer Tokens Over ADA as Mantra’s OM Plummets Over 90%

Elendu Benedict
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Cardano Founder Slams Investing in Newer Tokens Over ADA as Mantra’s OM Plummets Over 90%

Cardano founder Charles Hoskinson has reacted to the recent OM token fallout, reiterating Cardano’s consistency amid transparency concerns in the Mantra ecosystem.

The Cardano founder weighed in on the Mantra token dump in an X post. While some expected his expert thoughts on what actually happened, Hoskinson focused on Cardano’s consistency over the years despite widespread criticism.

Hoskinson Slams Anti-Cardano Preachers

Per the tweet, the Input Output Global CEO seemed to taunt key opinion leaders (KOL) who branded Cardano a “dionchain” or “ghost chain” and touted a dollar-cost average (DCA) into the “next big thing” like Mantra. He references the recent occurrence as proof of Cardano’s consistency.

The Cardano network is not new to widespread criticisms. Several comments have branded the layer 1 network a ghost chain with outdated technology.

One such comment came from a 2021 CoinDesk report, which sparked a reaction from Hoskinson. The media described Cardano as a vaporware network with fading relevance in the blockchain industry.

Furthermore, Macro Investor Global’s CEO, Raoul Pal, previously argued that Cardano is dead, advising crypto enthusiasts to divest from “cults” like ADA and XRP to newer tokens with better potential. Nonetheless, the ecosystem has remained generally bullish despite this, with many other such analysts redressing their steps later on to acknowledge Cardano’s giant strides.

The Cardano founder had this in mind while taunting prominent market players whose call to DCA into tokens like Mantra has backfired.

What Happened with Mantra?

The layer 1 network’s native token, OM, was in the news over the weekend over transparency issues, which saw its token crash by over 90%. The OM token plummeted from $6.35 on Sunday to $0.37 in a few hours, reliving the Terra Luna capitulation in 2022.

OM Crash
OM Crash

While market participants have made several claims, the most recurring in their statements has been massive sell-offs due to skepticism from the transparency of the Mantra team.

For context, prominent market watcher Gordon stated that the crash occurred amid speculations that the Mantra team had a larger supply of the OM token and dumped them, steering holders to flee to caution.

Specifically, research analyst Choze alleged that the team held 90% of the asset’s 1.81 billion circulating supply and sold them all, sparking the token’s sharp fall. Furthermore, other alleged occurrences, like the team deleting the project’s official Telegram handle, contributed to the over $6 billion wipeout.

Mantra’s Team Reacts

Meanwhile, through its official X (formerly Twitter) handle, Mantra has attempted to clarify things. A late Sunday tweet insisted that the project is “fundamentally strong,” tying the downside to reckless liquidation rather than rumors that the team rug-pulled investors.

Mantra’s co-founder, JP Mullin, also fronted similar claims. In a parallel tweet, he claimed that the team neither sold their token allocation nor deleted their official Telegram account, sharing a wallet address to back his assertion.

Furthermore, he blamed the massive sell-off on an uncalculated account closure initiated by centralized exchanges on OM. He stressed that its timing on a Sunday evening, marked with low-liquidity supply, showcased the lack of rationale by the involved exchanges.

Nonetheless, OM has continued its downward trend today, correcting 22% to trade at $0.78 at the time of writing. Notably, the Mantra ecosystem recently inked a $1 billion tokenization deal with real estate conglomerate firm DAMAC.

Here’s What Happened On-Chain Before Mantra’s OM Token Collapsed Over 90% in an Hour

Albert Brown
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Here’s What Happened On-Chain Before Mantra’s OM Token Collapsed Over 90% in an Hour

The OM token from the Mantra chain saw a catastrophic price collapse, dropping by over 90% in just one hour. 

This sudden downturn wiped out $5.5 billion in market value, sending shockwaves through the crypto community. While the Mantra team maintains minimal involvement, the chain of events suggests that a series of internal and external factors contributed to the dramatic crash.

OM Token Deposit That Triggered Market Movement

According to one X report, the trouble began when a wallet possibly associated with the OM team deposited 3.9 million OM tokens on the OKX exchange. This event caught the attention of the crypto community, as the OM team controlled nearly 90% of the total token supply. 

Image

Over the past year, the team has faced criticism for allegedly using market manipulation tactics to inflate the price of OM. However, this latest deposit appeared to set off a chain reaction that would send the token’s value in a downward spiral.

Soon after the deposit, large-scale selling began, raising suspicions of prior over-the-counter (OTC) deals made at steep discounts, possibly as high as 50%.

These deals would have placed significant amounts of OM into the hands of major holders, who now found themselves underwater when the price dropped by half.

As the token’s value continued to fall, panic selling took hold. Fearing further losses, investors rushed to sell their positions, causing a cascading liquidation event that pushed the price to its breaking point.

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A screenshot showing massive liquidations of OM tokens on OKX exchange

Exchange Actions Fuel the Crisis

In the aftermath of the crash, Mantra co-founder JP Mullin addressed the situation, confirming that the market plunge was triggered by “reckless liquidations.” 

According to Mullin, exchange actions, such as closing positions without warning, margin calls, or adequate notice, exacerbate the situation. 

According to JP Mullin, the crash did not result from the team, its investors, or its core advisors selling tokens. He clarified that their tokens remain locked and are subject to the published vesting periods.

Mullin also emphasized that MANTRA has endured multiple market cycles and continued building when others stopped, and this situation is no exception.

OKX to Prepare Relevant Reports

Meanwhile, OKX CEO Star Xu described the OM token collapse as a major scandal for the entire crypto industry. He noted that all on-chain unlocking, deposit, collateral, and liquidation data are publicly available and can be investigated across major exchanges. 

Star added that OKX would prepare and release all relevant reports, following a report revealing that 17 wallets had deposited 43.6 million OM tokens, worth $227 million, to exchanges before the crash, with two wallets linked to Laser Digital, a strategic investor.

Community Reactions

Notably, Mantra’s official communication sought to reassure its community. The team emphasized that they were not responsible for the crash, stating that no team tokens had been moved during the incident. To calm the fears of their investors, Mantra reiterated that the project remained fundamentally strong despite the price collapse. 

However, the damage had already been done. Many investors expressed disappointment, with some calling for clearer explanations from the team about what led to the massive sell-off.

Crypto sleuth ZachXBT also weighed in, expressing concerns about the scale and speed of the crash. He questioned the logic behind the massive drop and noted that the explanation provided by the Mantra team did little to clarify the situation.

Expert Sends Wake-Up Call to XRP Investors, Says XRP Not going To Moon On Ripple Case Resolution News

Lele Jima
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Expert Sends Wake-Up Call to XRP Investors, Says XRP Not going To Moon On Ripple Case Resolution News

A popular community figure has issued a wake-up call to XRP holders, urging them not to expect any immediate price upsurge once the SEC and Ripple case officially ends.

‘All Things XRP’ emphasized that investors expecting XRP’s price to skyrocket immediately after the SEC case ends are late. The commentator suggested that the anticipated price rally from the lawsuit’s resolution has already happened. 

Therefore, they believe XRP will not experience any major spike after the SEC officially closes the lawsuit against Ripple. 

Potential Opportunity for an XRP Rally 

However, All Things XRP indicated that Ripple’s next move after the lawsuit’s resolution will be instrumental in driving XRP’s price. 

They emphasized that the ‘real move’ will come from certain Ripple-related actions, which might involve the company forming new partnerships with top entities, enhancing XRP’s utility, and potentially making some ‘big plays.’   

Further, the commentator encouraged the community to stay alert and watch out for these actions rather than anticipating an explosive rally after the lawsuit ends. 

XRP Post-Election Price Action 

Recall that XRP recorded steady gains following the re-election of President Donald Trump. XRP skyrocketed from around $0.5 to a multi-year high of $3.3472 on January 20, marking an increase of 569%. 

Investors’ anticipation of the lawsuit’s conclusion following Trump’s victory was a major driver behind the rally. This anticipation climaxed on Inauguration Day on January 20, when XRP reached $3.3472. 

However, XRP has not experienced any major rally ever since. Instead, it lost most of its post-election gains and slumped below $2 despite Ripple announcing that the parties had agreed to drop the lawsuit. 

In a recent filing, the SEC also confirmed that negotiations are underway to resolve the case. The parties jointly requested to halt the litigation for two months. Despite this, XRP did not experience any significant price spike. 

As a result, All Things XRP believes the anticipated rally from the potential resolution of the SEC v. Ripple case has already priced in. Hence, they do not expect XRP to stage any major rally immediately after the lawsuit ends. 

However, they expect Ripple’s future actions, including significant partnerships news, to usher in the ‘real move’ for XRP. 

Next Steps for Resolution of Ripple Case 

Meanwhile, the SEC needs to approve its settlement with Ripple before the lawsuit can be concluded. The SEC will communicate its decision to the Second Circuit. 

Should it decide to settle the case, the SEC and Ripple will jointly file a motion to Judge Analisa Torres stating their settlement terms, which include dismissing the permanent injunction and the defendants paying a reduced fine of $50 million. 

Legal commentators like Attorney Fred Rispoli of Hodl Law expect the Ripple case to be fully resolved by late May 2025. 

WallStreetBets Founder Says Shiba Inu Supply Remains Unchanged Despite SHIB Burns

Lele Jima
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0
WallStreetBets Founder Says Shiba Inu Supply Remains Unchanged Despite SHIB Burns

The founder of WallStreetBets, Jaime Rogozinski, critiques the impact of token burns on Shiba Inu’s overall supply. 

In an April 11 tweet, Rogozinski pointed out that Shiba Inu’s supply has remained unchanged despite the community’s commitment to burns. This indicates that the number of SHIB tokens burned so far might be too small to impact Shiba Inu’s supply. 

Notably, the expert undercut the significance of burns on a token’s economic value. Rogozinski suggested that a token’s underlying potential matters, not its size or quantity.  This suggests that crypto enthusiasts should focus more on improving the quality of a token rather than reducing its size through burns. 

Shiba Inu Burn Efforts

For context, Shiba Inu community members started burning SHIB soon after the cryptocurrency’s launch in August 2020. Shiba Inu was launched with a total supply of 1 quadrillion tokens. So far, about 410.75 trillion SHIB, or 41% of the total supply, have been burned.

While this is commendable, it is important to note that Ethereum co-founder Vitalik Buterin burned most of these tokens. In May 2021, Buterin sent about 410 trillion SHIB to the official burn address in a single transaction.

Despite the Shiba Inu community burning SHIB regularly since Buterin’s incineration, the token’s total supply has not changed much, currently standing at 589.25 trillion. This suggests that less than 1 trillion SHIB tokens have been destroyed in the past four years.

Kusama Proposes Only Way to Boost SHIB Value

While some community members are still advocating for more burns to drive Shiba Inu’s value upward, the project’s leader, Shytoshi Kusama, has a different mindset. In his view, burning SHIB is not the only factor that could increase its value.

He believes that the only way to increase SHIB’s price is to drive adoption by developing real-world use cases for SHIB. According to him, once SHIB becomes valuable, it would be difficult for users to even consider burning the token.

The team has remained focused on driving Shiba Inu’s adoption and has unveiled several projects to integrate into the ecosystem to achieve this feat. Shiba Inu, which launched as a token in 2020, has evolved into an ecosystem with multiple projects.

Some of these projects include Shibarium, ShibaSwap, and Shib games like Shiba Eternity, SHIB: The Metaverse, and Shib Marketplace. While most of these projects are operational, the team is still developing others to drive SHIB’s adoption potentially.

SHIB Team Efforts For Burns

Interestingly, the team has also contributed to reducing SHIB’s enormous supply via Shibarium. A portion of the blockchain’s fees is used to buy and burn SHIB. So far, this approach has helped permanently remove over 50 billion SHIB from circulation. It has now automated the process of burning SHIB via Shibarium by introducing a burn portal named Shib Torch.

In addition, the Shiba Inu ecosystem team organizes certain events to raise funds to support SHIB burns. For instance, it introduced a contest on its collectible card game that will enhance SHIB burning. The competition, launched in February, is expected to burn 10 billion SHIB tokens daily.

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