U.Today – Weekend News Summary

Check out the top three news stories from the past weekend presented to you by U.Today.

1. Shiba Inu (SHIB) Burn Rate Anomaly

On Saturday, Sept. 21, the SHIB community observed an unusual figure for Shiba Inu's burn rate. According to data from the Shibburn X account, 0 SHIB tokens were burnt that day, suggesting a concerning bearish trend. This situation remains unclear, especially given SHIB's low price, which typically drives token burning. The anomaly raised questions about the recently launched ShibTorch portal, designed to automate burning processes. It’s possible that the portal is malfunctioning or that decreased transactions are resulting in lower token destruction. However, later that day, the burn rate surged by 547%, with 1,746,465 SHIB burnt.

2. Satoshi-era Bitcoin Wallet Activates After 13 Years

An ancient Bitcoin wallet holding 59 BTC, valued at approximately $3.8 million, was activated on Friday, Sept. 20, after over 13 years of inactivity. This activation coincided with Bitcoin's price surge, briefly crossing $64,000 for the first time since late August. However, no consistent link between price surges and wallet activations has been observed. Notably, another wallet holding 50 BTC emerged from 14 years of dormancy on Sunday.

3. BlackRock Bitcoin Options Approved

On Friday, the SEC approved BlackRock’s Bitcoin options, set to trade on Nasdaq under the IBIT ticker. This approval garnered praise from key crypto figures, including MicroStrategy cofounder Michael Saylor, who believes it will accelerate institutional Bitcoin adoption. Angel investor Anthony Pompliano echoed this sentiment, noting that such steps ease institutional engagement without the need for direct cryptocurrency holdings. However, he warned investors to manage expectations regarding future Bitcoin returns, suggesting volatility and reduced explosive gains might follow.

This article was originally published on U.Today