Tag: Million

$400 Million XRP Offloaded in Just 48 Hours, What’s Behind the Massive Sell Pressure?

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XRP has been hit by one of its most aggressive sell waves this year, with on-chain data revealing that major whale wallets offloaded nearly 200 million XRP, roughly $400 million, within just 48 hours. Related Reading: Ethereum Dead Cat Bounce Puts Price At $3,400, But What’s The Ultimate Target? According to Santiment analytics, wallets holding between one million and ten million tokens were the primary contributors, adding significant sell-side liquidity to an already fragile market. This sudden influx of supply arrived at a time when XRP was already battling bearish…

BlackRock’s Bitcoin ETF Bleeds Over $500 Million In Its Biggest One-Day Outflow

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Nearly two years after the inception of the Bitcoin ETF sector in the United States, these funds are currently grappling with significant challenges, exacerbated by mounting concerns regarding a potential bear market in the coming months.  This turmoil is exemplified by the BlackRock iShares Bitcoin Trust ETF (IBIT), which experienced its largest single-day withdrawal since launch, further contributing to the decline in Bitcoin’s price. Profit-Taking And Caution The recent outflows from BlackRock’s Bitcoin ETF highlight the severity of the current selloff within the Bitcoin market, which has experienced a substantial…

BlackRock Bitcoin ETF Sees Record $523 Million Outflow as BTC Drops Below $90,000

Key Notes November marks the worst month for Bitcoin ETFs with cumulative outflows surpassing all previous monthly records since launch. Average spot Bitcoin ETF purchase price sits at $90,146, leaving many investors at breakeven or loss levels amid current prices. Despite massive withdrawals, IBIT maintains market leadership with $87.63 billion in assets under management as of Nov 19. Investors pulled approximately $523 million from BlackRock‘s iShares Bitcoin Trust (IBIT) on Nov. 18, marking the fund’s largest outflow since its debut in January 2024, according to data from Farside Investors. This significant…

Famous Trader Bets $27 Million That The XRP Price Will Crash

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A famous trader is betting on a significant XRP price crash amid this recent market downtrend. The altcoin continues to struggle despite the recent launch of Canary’s XRP ETF, with popular analyst Ali Martinez suggesting it could soon drop below the psychological $2 level.  Famous Trader Opens $27 Million Short Position On XRP In an X post, the on-chain analytics platform Lookonchain revealed that a famous trader is shorting the market again, opening a 20x short on XRP worth $27.4 million. The trader has also opened short positions of 40x…

Crypto ATM Operator Charged in $10 Million Laundering Scheme

Key Notes The Chicago-based company operated crypto ATMs throughout the United States where criminals deposited illicit cash and converted it to cryptocurrency. Prosecutors allege Isa knew the funds were derived from fraud and transferred converted cryptocurrency to wallets to conceal ownership. Isa faces a maximum 20-year prison sentence if convicted and was released on $250,000 bond after pleading not guilty. U.S. federal prosecutors charged the founder of a Chicago cryptocurrency company with money laundering conspiracy. Firas Isa, 36, of Frankfort, Illinois, and his company Virtual Assets LLC face charges involving…

Kraken Achieves $20 Billion Valuation With $200 Million Investment From Citadel

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Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration…

Analyst Breaks Down Why There Can’t Be 7 Million XRP Holders

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A recent comment from crypto analyst CryptoTank has brought attention to a long-standing misconception about the size of the XRP community. His post focused on the widely quoted figure of seven million XRP wallets and explained why this number does not represent the number of real holders.  The clarification arrives at a time when XRP is now positioned to start to receive institutional inflows from the recently launched Canary Spot XRP ETF. Related Reading Why Wallet Count Does Not Equal Holder Count CryptoTank noted that nearly 7 million wallets holding…