$213 Million Bitcoin Dump Stuns Largest US Crypto Exchange, Shiba Inu Sees 360% Whale Activity Surge, Ripple Taps Major License in Dubai: Crypto News Digest by U.Today

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As a seasoned researcher who has navigated through countless crypto market fluctuations, I must say that today’s headlines have piqued my interest. The $213 million Bitcoin dump on Coinbase is a stark reminder of the volatile nature of the crypto market. It’s like watching a rollercoaster in action – exhilarating and nerve-wracking at the same time!

U.Today presents to you the top three stories over the past day; don’t miss this piece!

$213 million Bitcoin (BTC) dump stuns largest U.S. crypto exchange

As a researcher delving into the cryptocurrency realm, I find myself pondering over the potential challenges Bitcoin may face in maintaining its upward trajectory. The reason being, there seems to be an escalating selling pressure from some whales, as suggested by the recent data from Whale Alert. Specifically, a BTC whale transferred 3,333 BTC (equivalent to around $213 million) from his private wallet to Coinbase, which could imply that he intends to liquidate these coins to cash in on profits. Given that Bitcoin is still hovering at higher levels compared to its recent positions over the past couple of months, such transactions might exert short-term market pressure.

Shiba Inu (SHIB) sees 360% whale activity surge: Details

Lately, there’s been a significant spike in whale transactions involving Shiba Inu, making it one of the preferred cryptocurrencies among large investors. This surge might hint at an upcoming price rise, as whales typically impact trading trends in smaller digital currencies such as SHIB. The escalation in whale activity suggests that the meme coin could be gearing up for a significant shift, possibly aiming for $0.00002. However, it’s crucial to remember that whale presence does not ensure consistent growth, and Shiba Inu’s price continues to be unpredictable. At the time of writing, SHIB is being traded at $0.00001665, marking a decrease of 1.09% over the last 24 hours according to CoinMarketCap.

Ripple Labs taps major license in Dubai

Based on information from a press release dated October 1st, Ripple is broadening its worldwide presence by securing a substantial operating license in Dubai. According to the announcement, Ripple has been given preliminary approval by the Dubai Financial Services Authority (DFSA) to extend its operations from the Dubai International Financial Centre (DIFC). This license enables the company to strengthen its payments network within the Middle East and offer services to regional clients. Furthermore, this license serves to validate Ripple’s commitment to regulatory compliance in various geographical areas. Notably, this fintech corporation has been embroiled in a legal battle with the U.S. SEC over compliance-related allegations for more than three years.

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2024-10-02 19:19