99,999,980 XRP at Go; BlackRock Sets XRP ETF Aside; Cardano Price Super Cycle Predicted by Top Analyst: Crypto News Digest by U.Today
2024-12-16
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U.Today presents the weekend's three most significant and trending stories; check them out!
99,999,980 XRP at go: What's going on?
XRP has recently experienced a notable increase in whale activity. According to Whale Alert data, on Friday, Dec. 13, a large transfer took place, carrying 99,999,980 XRP, valued at approximately $234.4 million. The transaction was part of a broader trend of substantial XRP transactions over the two previous days. In addition, other large transactions were recorded, including 39 million XRP worth around $95 million moved to Coinbase and 380,000,000 XRP worth $915,171,133 transferred from Ripple to an unknown wallet. While the identities of the wallets involved remain unknown, it could be suggested that these transactions may involve whales, exchanges, custody platforms or institutional investors. The transactions may represent OTC deals, occurring outside of crypto exchanges. Various entities could be reallocating XRP among different wallets for purposes of security or strategic planning.
BlackRock sets XRP ETF aside, here's what's happening
Recent reports indicate that BlackRock has no plans to introduce any new ETFs based on XRP or other cryptocurrencies. Wu Blockchain X account, citing Bloomberg ETF analyst Erich Balchunas, shared in a recent X post that the head of BlackRock’s ETF department, Jay Jacobs, emphasized that the company's current focus remains on expanding its spot Bitcoin and Ethereum ETFs, which have yet to reach a significant portion of their customer base. Wu Blockchain also noted that U.S. regulators, and the SEC in particular, are anticipated to approve ETFs, like SOL and XRP, by the end of next year. As a reminder, last month, an incident occurred involving a false filing attributed to BlackRock regarding an XRP ETF, which the company promptly denied. Meanwhile, other asset managers, including WisdomTree, Bitwise, 21Shares and Canary Capital, have submitted legitimate filings for spot XRP ETFs this year.
Cardano ADAUSD price super cycle predicted by top analyst
Despite cautious market sentiment, Cardano ADAUSD remains above the $1 threshold. Thus, market analyst and Crypto Capital Venture founder Dan Gambardello has expressed an optimistic outlook for ADA in his recent X post. Gambardello predicted that the asset could reach prices as high as $14, supported by current trends observed on the daily chart. "The Cardano milestones of $3, $7, and $14 do not look far at all," he wrote. Gambardello suggests that ADA is on the verge of entering a "supercycle," characterized by sustained upward movement and minimal retracements. Gambardello’s supercycle prediction is consistent with ADA’s current price trend. Although ADA's price has experienced a steady increase over the past month, it is currently consolidating between $1.00 and $1.17. Currently, ADA is changing hands at $1.07, down 2.07% over the past 24 hours, per CoinMarketCap.