- Shibarium, Shiba Inu’s layer-2 solution, experiences a 500% spike in transaction fees due to heightened network activity and investor interest.
- Despite a significant price plunge in April, top analyst Michael van de Poppe suggests Bitcoin is nearing the end of its correction.
- Robinhood announces the availability of the Robinhood Connect feature on Uniswap wallet, enhancing accessibility for crypto investors.
From a shocking surge in Shiba Inu token transaction fees to Bitcoin’s predicted end of correction and Robinhood’s latest announcement for Uniswap users, here’s a roundup of the top crypto news.
500% Spike in Shiba Inu Token Transaction Fees Shocks Shibarium
On May 1, Shibarium, Shiba Inu’s layer-2 solution, saw a significant increase in transaction fees. Data from Shibariumscan reveals that gas commissions paid in BONE surged from 12 BONE to 61.47 BONE, marking a 500% growth. This increase can be attributed to heightened network activity and the rising popularity of Shiba Inu tokens amid market instability. The network’s active accounts also saw a 211% increase, from 1,724 to 3,650, over the same 24-hour period.
Bitcoin (BTC) at End of Correction, Top Analyst Suggests
Despite April being Bitcoin’s worst month since October 2023 due to a substantial price plunge, renowned market analyst Michael van de Poppe believes that the flagship crypto is at the end of its correction. In a recent post, van de Poppe noted that BTC has plummeted by 20% from its recent highs, and there may be more downsides for the coin in the future. However, he anticipates a potential recovery for Bitcoin from this point, suggesting that investors should closely watch the green zones between $56,000 and $58,000 in the event of a further drop. At the time of writing, Bitcoin is trading at $59,156, up 3.27% over the past 24 hours, according to CoinMarketCap.
Robinhood Makes Important Announcement for Uniswap Users
Robinhood, a popular online brokerage, recently announced that the Robinhood Connect feature is now available on Uniswap wallet. This integration allows Uniswap mobile app users to purchase crypto assets with a debit card, via bank transfer, or directly from their Robinhood balance. However, this option is only available to users from the United States. To celebrate this integration, Robinhood introduced a limited-time offer where first-time Robinhood Connect customers who buy at least $10 of crypto using Robinhood Connect in the Uniswap mobile app can get $10 in USDC as a reward. This development marks a significant step forward in enhancing accessibility and convenience for crypto investors.
Conclusion
The crypto market continues to evolve with significant developments in Shiba Inu’s transaction fees, Bitcoin’s market correction, and Robinhood’s new feature for Uniswap users. These developments highlight the dynamic nature of the crypto market and its potential for future growth.
