$XRP $SHIB

Bitwise CIO Highlights XRP’s Key Strength; 30.49 Trillion SHIB Activated During $687M Market Sell-Off: Crypto News Digest

June 3, 2025 — U.Today Crypto News

In a rapidly shifting crypto landscape, major movements in XRP and SHIB have captured investor attention, while market-wide volatility led to a sharp $687 million sell-off. Bitwise CIO Matt Hougan weighed in on the resilience of XRP, pinpointing a critical factor behind its enduring relevance. Meanwhile, the staggering activation of 30.49 trillion SHIB tokens raised eyebrows during a turbulent market downturn. Here's the latest in today's crypto digest.

XRP’s Core Strength Revealed by Bitwise CIO

Matt Hougan, Chief Investment Officer at Bitwise Asset Management, has attributed XRP’s sustained success to one key factor: utility-driven demand. In a recent interview, Hougan stated that while many digital assets are driven by speculative hype, XRP has managed to retain a loyal user base due to its practical applications in cross-border payments.

> “XRP continues to hold ground because it solves a real-world problem,” Hougan emphasized. “Its integration into payment rails and partnerships with financial institutions give it a level of resilience few other assets can claim.”

This comment comes amid growing institutional interest in crypto solutions that provide functional value. XRP, supported by Ripple’s global network of banking partners, has proven useful in reducing transaction costs and speeding up cross-border remittances.

30.49 Trillion SHIB Tokens Suddenly Activated

Shiba Inu (SHIB), the popular meme coin, saw a massive 30.49 trillion tokens activated in a short timeframe, triggering speculation across the crypto community. Blockchain data revealed that dormant wallets holding massive SHIB quantities suddenly moved or re-engaged in network activity, coinciding with a broad sell-off across crypto markets.