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Here are the top three news stories from the previous day brought to you by U.Today.

XRP goes from 1.1 billion to 100 million: What happened?

XRP has experienceda significant decline in on-chain volume, with payments dropping from 1 billion to just 100 million, raising concerns about the asset's liquidity and market health. Despite this sharp decrease in transaction volume, XRP's price has remained relatively stable, hovering around the $3.10 mark. The asset has maintained its bullish momentum following a powerful breakout earlier this year, trading above key moving averages and holding a strong position above the 50 EMA. Resistance levels at $3.20 and $3.50 are critical to watch, as surpassing these could lead to a potential rally toward $4. However, the decline in on-chain activity and the reduction in active accounts suggest a cooling ecosystem, which may impact future demand and price stability.

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Shiba Inu holders receive urgent security alert: Details

Yesterday, Jan. 30, the SHIB community receivedan urgent security alert from Susbarium | Shibarium Trust Watch, an X account dedicated to protecting Shiba Inu enthusiasts from scams.The warning comes after reports surfaced about fake websites impersonating official SHIB platforms. Per these reports, these fraudulent sites aim to deceive users into providing sensitive information, such as private keys and wallet credentials. Thus, Susbarium urged the SHIB community to stay vigilant while sharing three crucial tips that could help them stay safe: verify URLs, keep private keys confidential and seek clarification from trusted sources when in doubt. "Stay safe and protect your assets! Together, we can keep the community secure," wrote Susbarium in the conclusion of its post.

Tesla's net income boosted by Bitcoin profits

According toСNBC, Tesla, the leading e-car manufacturer, has reporteda profit of $600 million from its Bitcoin holdings in the fourth quarter. This is attributed to a new accounting guideline from the Financial Accounting Standards Board (FASB) that allows reporting holdings at their current market value. Initially purchasing Bitcoin in 2021, Tesla has since sold approximately 75% of its holdings; at the moment, the company's total Bitcoin holdings stand at $1.1 billion, with no sales occurring in the fourth quarter. Had Tesla not liquidated a significant portion of its Bitcoin, its holdings would currently be valued at around $2.4 billion. Shares of Tesla (TSLA) were up more than 4% in premarket trading. Without the positive impact of Bitcoin profits, Tesla's earnings per share (EPS) would have fallen short of meeting consensus estimates.

Coinspeaker Cardano Founder Destroys 900 Billion ‘Charles’ Meme Coins, Price Crashes 72%

Cardano (ADA) founder Charles Hoskinson burned 900 billion ‘Charles’ meme coins that had been airdropped to him. The destruction of that staggering amount, which had an estimated value of $80 million, sent shockwaves through the market.

An anonymous creator behind the meme coin had transferred 90% of its total supply to Hoskinson, likely aiming to generate hype. Instead of engaging, he swiftly sent the tokens to a burner address, permanently removing them from circulation. The market reacted instantly — what once held a market cap of $6.7 million plunged to $574,000, according to Tap Tools.

Addressing the matter in a video on X on January 30, 2025, Hoskinson described the situation as absurd, expressing disbelief at the staggering quantity of tokens assigned to him.

“So I’m sitting on 900 billion of that. You’ve lost your damn mind,” Hoskinson said.

The emergence of the Charles meme coin originated from a paper wallet demonstration by Input Output, the research and development firm behind Cardano. During the showcase, Hoskinson asserted the wallet’s security, emphasizing that even public exposure of the QR code would not compromise its contents.

Charles Meme Coin Plunges 72%: $71B Hype Burns Out

Before the burn, the fully diluted value of the Charles meme coin reached an astonishing $71 billion, driven purely by speculation with minimal liquidity in the market. Hoskinson justified burning the tokens as a demonstration of the contrast between hype and real value.

Declaring himself no longer associated with the coin, he emphasized a lack of personal financial interest, expressing frustration over the situation. Eliminating the tokens erased a potential multi-million-dollar windfall, reinforcing his claim of acting with integrity.

Crypto traders who had invested in the Charles token reacted negatively. The coin’s price plummeted by 72% within a single day, wiping out millions in market capitalization. Some community members voiced disappointment, arguing that funds could have been allocated to charitable causes or other constructive initiatives. 

Conversely, had Hoskinson opted to sell instead of burn, accusations of betraying investors by profiting at their expense would have likely followed.

2,000,000% Surge Vanishes Overnight

Designed in the style of meme-based coins like Hosky and SHARL, the token rapidly gained popularity within the Cardano community. Early speculation fueled an astronomical price surge of nearly 2,000,000%.

Source: Taptools

At its highest valuation, Charles token reached a market capitalization of $6.7 million with 769 holders. However, a significant token burn erased any prospects of a supply-driven price increase. The subsequent collapse in value left many investors questioning the rapid shift in market dynamics.

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Cardano Founder Destroys 900 Billion ‘Charles’ Meme Coins, Price Crashes 72%

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