3.6 Billion XRP in 24 Hours, Samson Mow Expects ‘Super Bullish Bitcoin News’ Soon, Ethereum ETFs Witness Massive Outflows: Crypto News Digest by U.Today

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As a seasoned crypto investor with several years of experience under my belt, I’ve learned to keep a close eye on the market and stay informed about the latest news and developments. Yesterday’s XRP price surge was an interesting turn of events that left me feeling both intrigued and cautious.

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

3.6 billion XRP in 24 hours, What’s happening?

Yesterday, XRP token broke free from the “red sea,” experiencing a modest 0.95% price increase and reaching $0.6090 within the last 24 hours. Notably, the token’s trading volume experienced a significant surge, according to CoinMarketCap data, amounting to $2,238,753,637, marking a 47% increase. The upward trend can be linked to rumors of a potential settlement or decision in the ongoing Ripple vs. SEC lawsuit. Allegedly, both parties are holding closed-door meetings. Although earlier attempts at settlements were unsuccessful, there’s speculation that they could engage in conversation imminently. Presently, however, XRP’s price and trading volume are declining. The token is currently priced at $0.5904, representing a 4.45% decrease over the last 24 hours.

Super bullish Bitcoin (BTC) news coming in next few days: Samson Mow

Samson Mow, the CEO of JAN3 and a Bitcoin advocate, recently shared an optimistic outlook about Bitcoin on X platform. He predicted that the Bitcoin community would soon be greeted with some highly positive news in the coming days. However, Mow did not disclose any specifics regarding the nature of this news. Willy Wo, a well-known trader, reacted to Mow’s statement and reminded him that Bitcoin’s underlying fundamentals tend to materialize over extended periods. According to Wo, Bitcoin is inherently “green” in the long term. He advised both Mow and other Bitcoin enthusiasts to steer clear of short-term perspectives as they belong to the realm of speculative traders.

It is over: Ethereum ETFs disappoint community with massive outflows

According to Farside Investors’ data, Ethereum ETFs experienced significant outflows amounting to over $133 million on their second trading day. Despite inflows of $74.5 million from Fidelity’s FETH, $45.9 million from Grayscale’s mini ETF, and $17.4 million from BlackRock’s ETHA, these amounts were not enough to offset the massive outflows recorded by Grayscale’s ETHE, which lost a staggering $326 million on Wednesday. The large outflows were anticipated due to ETHE’s high 2.5% fee. As previously reported by U.Today, Ethereum ETFs began with robust inflows. However, it seems these products are struggling to sustain their initial momentum. Yesterday, Ethereum plunged as much as 8%, but today it is gradually rebounding, currently priced at $3,251, representing a 3.59% increase over the previous 24 hours.

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2024-07-26 19:35