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U.Today has gathered three significant news items from the last 24 hours.
29,532,534 XRP Transferred on Prominent U.S. Exchange Coinbase: What Took Place?
On the previous day, a whale alert trading monitor identified a substantial XRP transaction involving 29,532,534 tokens valued at around $75.38 million. This transaction was executed on the renowned U.S. cryptocurrency exchange Coinbase, originating from an unidentified wallet recognized as r9ZMd. Such a considerable asset transfer raises alarms about a possible sell-off, as it frequently suggests that an individual is getting ready to liquidate. Nevertheless, this occurrence could also be a standard transfer on Coinbase rather than a trading maneuver. Despite the scant details surrounding the transaction, the cryptocurrency market may still respond to these significant transfers, as they can incite speculation and doubt. Regarding the XRP price, at the moment of writing, it was trading at $2.18, having decreased by 10.76% in the last 24 hours, according to CoinMarketCap.
$64 Billion Hedge Fund Intends to Venture into Crypto Analyst Evaluates Solana and Ethereum Across Eight Essential Benchmarks Trading
As per a report by Bloomberg, Citadel Securities, a hedge fund overseeing $65 billion in assets, is contemplating engaging in crypto trading.
The firm intends to establish itself as a market influencer for prominent exchanges such as Coinbase. This major player based in Miami is planning to explore markets beyond the U.S. while monitoring domestic regulatory developments. Former hedge fund executive James Lavish highlighted the significance of this strategy, advising market participants not to allow distractions to overshadow the essential information. Citadel, which oversees more than $60 billion in assets and ranks among the top ten hedge funds worldwide, is now aiming to engage in Bitcoin and cryptocurrency trading. “Do not let distractions obscure the essential information,” Lavish stated in a recent update on X. Citadel Securities has not always held a positive view of cryptocurrencies; back in 2017, the company’s founder, Ken Griffin, denounced Bitcoin as a bubble similar to the tulip mania. Nevertheless, in 2022, he acknowledged that his perspectives on cryptocurrencies were incorrect.
Shiba Inu (SHIB) has dropped below a critical price threshold for the first time since 2024, falling beneath $0.000015. This decrease follows a phase of speculative excitement but now encounters substantial selling pressure and a deficiency of bullish momentum. Traditionally, the $0.000015 level has acted as a price support, and breaking through it raises worries about additional declines, with the subsequent support level around $0.000012. Despite previous optimism regarding the Shiba ecosystem, including advancements like Shibarium, the token has faced challenges in regaining traction, with technical indicators reflecting weak demand. While the cryptocurrency market is extremely unpredictable and abrupt changes can happen, the near-term outlook seems grim unless SHIB can swiftly recover above $0.000015. At present, SHIB is priced at $0.00001355, down 6.60% over the last 24 hours, as per CoinMarketCap.
