Shiba Inu Gains Support From British Red Cross, Ethereum ETFs May Be Approved by July 2, Top Expert Says, Bitcoin Whales Go Insane: Crypto News Digest by U.Today

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As a seasoned crypto investor with a keen interest in staying updated on the latest developments in the industry, I find the top three news stories over the past weekend quite intriguing. Let me share my perspective on each of these stories based on my life experience and knowledge.

U.Today has prepared the top three news stories over the past weekend.

Shiba Inu (SHIB) gains support from British Red Cross

A recent article published by Shib Daily reports that the Shiba Inu meme cryptocurrency has been endorsed by the British Red Cross. Starting now, this renowned humanitarian charity in the UK accepts SHIB as a form of donation. This new opportunity arose due to the British Red Cross’ collaboration with Giving Block, a specialized platform for nonprofits that facilitates cryptocurrency donations. With Giving Block, users can donate Shiba Inu and other popular digital assets, incurring fees ranging from 1% to 3.9%, depending on the amount donated. The weekly collected funds are then transferred to the British Red Cross. The acknowledgment of SHIB as a valid donation option emphasizes its expanding utility and recognition within the community.

Ethereum ETFs may be approved by July 2, top expert reveals

Based on SEC Chair Gary Gensler’s recent indication that the regulatory agency might approve spot Ethereum ETFs’ S-1 forms “some time this summer,” various experts have shared their predictions regarding the timeline for this significant development. Bloomberg’s senior ETF analyst Eric Balchunas posits that the approval could occur on July 2. He explains that SEC staff recently sent issuers minor comments on the forms and requested responses within a week. Consequently, Balchunas believes there is a strong possibility the regulator will make its decision prior to the Independence Day weekend, making July 2 the most probable date for approval.

Bitcoin whales go insane, unloading $4.1 billion in BTC

Based on a recent post by crypto analyst Ali Martinez, large Bitcoin holders and miners have offloaded a significant amount of Bitcoin over the past 10 days. As evidence, Martinez included a chart from Santiment market intelligence. The initial group of market participants sold over 50,000 BTC, equivalent to around $3.3 billion. In parallel, Bitcoin miners sold approximately 1,200 BTC, representing close to $80 million. Collectively, they disposed of roughly $4 billion worth of Bitcoin. Miners typically sell Bitcoin to cover their expenses and realize profits from their mining activities. This often occurs when Bitcoin reaches a new local peak.

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2024-06-17 19:44