$1 Billion Bitcoin Mystery Stuns Crypto Market, Shiba Inu on Verge of Becoming Profitable Again, 400 Million XRP Moved in 24 Hours: Crypto News Digest by U.Today

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As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself intrigued by the recent happenings in the market. The $1 billion Bitcoin mystery has certainly piqued my curiosity; it’s like following a trail of digital breadcrumbs, trying to decipher the origin and purpose of such large transactions. The potential link to Fidelity Custody adds an interesting twist, given their recent foray into the Bitcoin ETF market.

U.Today presents the top three new stories over the past day.

$1 billion Bitcoin mystery stuns cryptocurrency market: What happened?

Based on recent blockchain activity, there have been substantial Bitcoin transfers occurring in the last few days, with a notable instance being the transfer of approximately one billion dollars’ worth of BTC; these funds were moved from several undisclosed wallets to newly created ones, in increments of 2,000 BTC. The reason and source behind these transactions are unknown at this time, although one sender address seems to be connected to Fidelity Custody, a well-known cryptocurrency custodian. It’s worth noting that Fidelity launched its Bitcoin spot ETF, FBTC, earlier this year. These sizeable transfers could suggest an internal asset shuffling or they might foreshadow increased inflows into Bitcoin ETFs and growing interest in BTC, which could lead to a potential increase in the cryptocurrency’s value. At present, BTC is being traded at $64,883, marking a 1.79% rise over the past day, as reported by CoinMarketCap.

Shiba Inu (SHIB) on verge of becoming profitable again

According to data from IntoTheBlock, roughly half of Shiba Inu (SHIB) owners are currently earning a profit at the price point of $0.00001718, implying that further price increases could lead to increased profits. Moreover, about 73% of SHIB’s significant investors fall under the category of “whales,” meaning their trading activities can have a substantial impact on price fluctuations. The price trends of Shiba Inu are generally linked with the wider cryptocurrency market, particularly Bitcoin, because of their strong correlation. Although there are mixed signals regarding the future of SHIB, rising demand on trading platforms is evident, as evidenced by a significant jump of 128.19% in imbalance between bids and asks. Investors should monitor the crucial price level of $0.00001700 closely, since crossing this threshold might lead to stronger upward momentum and improved profitability for SHIB investors.

400 million XRP in 24 hours – What’s happening?

On September 25th, large amounts of XRP were moved in several transactions as tracked by Whale Alert, a well-known platform for monitoring significant crypto transfers. Specifically, about 400 million XRP were transferred in five separate instances, with four of them happening consecutively between two blockchain addresses. Three of these transfers contained 95 million XRP each, approximately equating to $55.5 million, while the fourth transfer moved around 98.8 million XRP, or roughly $57.8 million. In total, these four transactions represented a movement of $224.2 million worth of XRP. These transfers are believed to be either internal platform activities or a major XRP holder rearranging their XRP holdings. Additionally, 17.2 million XRP were sent from an unidentified wallet to the Bitstamp exchange, potentially connected to Ripple‘s global remittance endeavors.

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2024-09-26 19:22