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U.Today presents the three main news of the past day.
Billion-Dollar Bitcoin Mystery Stuns Cryptocurrency Market: What Happened?
According to the latest on-chain data, the crypto market has seen large Bitcoin transfers over the past few days, the latest episode being the transfer of $1 billion worth of BTC; funds were transferred from a number of unknown addresses to brand new wallets in batches of 2,000 BTC. The purpose and origin of these transactions remains unclear, although a sender’s address is potentially linked to Fidelity Custody, a major cryptocurrency custodian. As a reminder, this year, Fidelity presented its spot Bitcoin ETF, FBTC. Large transfers could indicate an internal reorganization of assets, or they could signal the start of a period of positive flows into Bitcoin ETFs and increasing demand for BTC, which could potentially increase the price of the crypto. At the time of writing, BTC is trading at $64,883, up 1.79% in the last 24 hours, according to CoinMarketCap.
Shiba Inu (SHIB) on the verge of becoming profitable again
Data provided by IntoTheBlock shows that 50% of Shiba Inu (SHIB) owners are currently profitable priced at $0.00001718, suggesting potential for profit growth if prices continue to rise. Additionally, 73% of large SHIB holders are whales, meaning these market participants could significantly influence price fluctuations via their buying and selling actions. Shiba Inu price movements are closely linked to the overall cryptocurrency market, especially Bitcoin, due to their high correlation. Despite some mixed signals regarding SHIB’s prospects, there are signs of growing demand across trading platforms, highlighted by a substantial 128.19% increase in bid-ask volume imbalance. Investors should keep an eye on the important $0.00001700 price level, as surpassing this threshold can trigger a more robust upward move and improve profitability for SHIB investors.
Related
400 million XRP in 24 hours – What’s happening?
YesterdayOn September 25, Whale Alert, a popular tracker of large crypto transactions, spotted a series of large transfers involving XRP. More than 400 million XRP was transferred in five transfers, four of which were made consecutively between two blockchain addresses. Of these transfers, three transactions each carried 95 million XRP, worth approximately $55.5 million, while the fourth transferred approximately 98.8 million XRP worth $57.8 million . A total of $224.2 million worth of XRP was transferred in these four massive transactions. The transfers likely represent internal platform movements or a significant cryptocurrency holder reallocating their XRP holdings. In a separate action, 17.2 million XRP was sent from an anonymous wallet to the Bitstamp exchange, possibly linked to Ripple’s international money transfer initiatives.
