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Crypto

Analyst draws line on Shiba Inu 1-cent outlook, says hard under current conditions

An analysis said Shiba Inu is structurally unlikely to reach its long-discussed long-term target of $0.01. Analyst Szymanski cited the token’s circulating supply and the market capitalisation required at that price as the main obstacles. Shiba Inu’s current price and supply would imply a multi-trillion-dollar valuation, exceeding the total crypto market and bitcoin’s market cap. He said Shiba Inu can still rise in a bull market, but $0.01 is difficult under current conditions.

Crypto

Ripple\'s XRP officially launches on Solana

Ripple\'s XRP has launched on Solana as an official cross-chain asset, appearing on the network in wrapped form, Cryptopolitan reported. Solana announced the official inclusion of XRP on X. The new XRP was released in cooperation with Ripple and Hex Trust and is similar in structure to WBNB and wrapped ether. It can trade across Solana venues including Phantom wallet, Jupiter DEX and Meteora.

Crypto

21Shares files second amendment for Hyperliquid spot ETF THYP

Asset manager 21Shares has moved a step further in its bid to launch a Hyperliquid spot exchange-traded fund. The firm filed a second amended S-1 registration statement with the U.S. Securities and Exchange Commission, with the filing saying the ETF is expected to trade on Nasdaq under the ticker THYP. The registration statement also details pre-listing seeding plans and a staking approach for a portion of the HYPE tokens held, while leaving the sponsor fee undisclosed.