$1 Billion Bitcoin Mystery Stuns Crypto Market, Shiba Inu on Verge of Becoming Profitable Again, 400 Million XRP Moved in 24 Hours: Crypto News Digest by U.Today
2024-09-26

U.Today presents the top three new stories over the past day.
$1 billion Bitcoin mystery stuns cryptocurrency market: What happened?
According to the latest on-chain data, the crypto market has seen large transfers of Bitcoin over the past few days, with the latest episode being the shift of $1 billion worth of BTC; the funds were moved from a number of unknown addresses to brand new wallets in batches of 2,000 BTC. The purpose and origin of these transactions remain unclear, although one sender address potentially links to Fidelity Custody, a major crypto custodian. As a reminder, this year, Fidelity introduced its spot Bitcoin ETF, FBTC. The significant transfers might indicate an internal reorganization of assets, or they could signal the beginning of a period of positive flows into Bitcoin ETFs and rising demand for BTC, which could potentially boost the crypo's price. At the moment of writing, BTC is trading at $64,883, up 1.79% over the past 24 hours, per CoinMarketCap.
Shiba Inu SHIBUSD on verge of becoming profitable again
Data provided by IntoTheBlock shows that 50% of Shiba Inu SHIBUSD holders are currently profitable at a price of $0.00001718, suggesting a potential for profit growth if prices continue to rise. Also, 73% of SHIB's large holders are whales, which means that these market players could significantly influence price fluctuations via their buying and selling actions. The price movements of Shiba Inu are closely tied to the overall cryptocurrency market, especially Bitcoin, due to their strong correlation. Despite some conflicting signals about SHIB's prospects, there are signs of growing demand on trading platforms, highlighted by a substantial increase of 128.19% in bid-ask volume imbalance. Investors should keep an eye on the important price level of $0.00001700, as surpassing this threshold may trigger a more robust upward movement and enhance profitability for SHIB investors.
400 million XRP in 24 hours – What's happening?
Yesterday, Sept. 25, Whale Alert, a popular tracker of large crypto transactions, spotted a series of large transfers involving XRP. Over 400 million XRP were moved in five transfers, four of which were made consecutively between two blockchain addresses. Among these transfers, three transactions carried 95 million XRP each, valued at around $55.5 million, while the fourth one moved approximately 98.8 million XRP worth $57.8 million. In total, $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 were sent from an anonymous wallet to the Bitstamp exchange, possibly linked to Ripple's international money transfer initiatives.