U.Today – U.Today brings you the three most popular stories from the last day; don’t miss this piece!
A $213 million (BTC) airdrop stuns the largest US cryptocurrency exchange
Bitcoin may struggle to maintain its bullish trend due to increased selling pressure from some whales. This comes as the crypto community eagerly awaits further gains in Bitcoin in October, often referred to as “Uptober.” According to the latest data from Whale Alert, the BTC whale transferred 3,333 BTC (worth approximately $213 million) from his private wallet to Coinbase (NASDAQ:). The transfer indicates that the whale is planning to sell the coins to book profits as Bitcoin continues to trade at all-time highs compared to the previous levels seen over the past few months. While selling for profit is common among investors, such huge transactions can create short-term market pressure. Still, this doesn’t necessarily have a negative impact on the overall market outlook.
(SHIB) Sees 360% Increase in Whale Activity: Details
As a result of its recent development, Shiba Inu has witnessed an impressive 360% enhance in whale activity, making it one of the most traded cryptocurrencies among huge investors. This could indicate a potential price recovery as whales often influence trading patterns in smaller digital assets such as SHIB. The enhance in whale activity could signal that the meme coin is gearing up for another major move, potentially towards $0.00002. Investors should always exercise caution, however, as the presence of whales does not guarantee sustainable growth and the price of the Shiba Inu breed remains volatile. At the time of writing, SHIB is changing hands at $0.00001665, down 1.09% in the last 24 hours, according to CoinMarketCap.
Labs obtains master license in Dubai
According to Ripple’s press release on October 1, the company is expanding its global reach after obtaining a significant operating license in Dubai. Ripple has received in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its services from the Dubai International Financial Center (DIFC), according to a press release. The license will enable the company to develop its payment network in the Middle East and provide services to customers in the region. In addition to enhancing cross-border payment solutions, the license helps Ripple demonstrate compliance with regulatory standards in various jurisdictions. To recall, the fintech giant has been battling the US SEC over compliance-related allegations for over three years.
