As a seasoned crypto investor with a decade of experience under my belt, I find myself intrigued by the recent developments in the market. The sudden appearance of 200 billion Shiba Inu tokens on Gemini’s new multisignature custody wallet is a clear indication that institutional interest in altcoins, particularly SHIB, is growing. This could potentially boost the token’s attractiveness to both new and existing investors.
U.Today has prepared the top three news stories over the past day.
200 billion Shiba Inu (SHIB) suddenly land in top U.S. exchange’s wallet
As per a recent update from Spot On Chain, Gemini – one of the major cryptocurrency exchanges in the U.S. – has moved considerable funds into a newly established multisignature custody wallet that was created just 18 days ago. This wallet swiftly gathered a diverse selection of altcoins, including an impressive purchase of approximately 200 billion Shiba Inu (SHIB) tokens valued at around $3.39 million. Moreover, the wallet holds 42,000 ETH worth over $103.8 million; 350,000 LINK valued at $3.77 million and 400 billion PEPE tokens worth $3.29 million. Currently, Gemini manages assets totaling $6.05 billion and processes an average daily turnover of approximately $53.98 million. By amassing a substantial amount of SHIB, the exchange suggests growing institutional interest in the token, which may boost its appeal to both new investors and existing holders.
BlackRock makes history as $2.1 billion enter Bitcoin market
The BlackRock iShares Bitcoin Trust (IBIT) has seen a major advancement, recording its largest weekly net inflows since March 2024 – a period when Bitcoin reached record highs of approximately $74,000. This significant investment flow into the Bitcoin market, amounting to $2.11 billion, was pointed out by Ki Young Ju, CEO at CryptoQuant on the X platform. Notably, over the past week, BlackRock’s Bitcoin fund experienced a remarkable surge in net inflows, with a daily record of $872 million entering IBIT on Wednesday. This inflow is among the largest since the fund’s inception and represents a new all-time high for BlackRock. However, after reaching a peak of $73,624 last Tuesday, Bitcoin experienced a downturn, dropping to $67,444 by Sunday. Currently, Bitcoin is being traded at $68,763, representing a 0.12% decrease over the last 24 hours, according to CoinMarketCap.
DOGE, XRP surprisingly outperformed all cryptos
In my research as a crypto analyst, I’ve noticed an interesting trend post the bullish “Uptober” period. While the overall market seems to be cooling down, some established digital assets are holding their ground impressively. One such coin is Dogecoin (DOGE), which saw its market capitalization grow by 3.7% yesterday, surpassing $23 billion. Over the past week, DOGE has outperformed all its peers with a 9% increase. On the other hand, meme coins like Popcap (POPCAT) have taken a hit, with a 11.7% decrease in value overnight. Coins such as Floki (FLOKI), Pepe (PEPE), and Based Brett (BRETT) are also facing declines. Notably, Floki’s market capitalization has dropped below $1.2 billion. In stark contrast, XRP is shining, adding 1.7% and coming close to a market capitalization of $30 billion.
Read More
- SOL PREDICTION. SOL cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- USD COP PREDICTION
- TON PREDICTION. TON cryptocurrency
- USD ZAR PREDICTION
- USD PHP PREDICTION
- Top gainers and losers
- ENA PREDICTION. ENA cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
2024-11-05 17:36