U.Today – Don’t miss anything happening in the crypto world with the top three U.Today news stories from the last day.
Satoshi predicted that he would lose his crown by Christmas
In his October 15 X post, Bloomberg’s leading ETF expert Eric Balchunas predicted that Bitcoin ETFs will overtake Satoshi Nakamoto as the largest holder of Bitcoin by Christmas. Currently, their total resources include 938,533 BTC. Previously, U.Today reported that Bitcoin saw inflows of around $550 million, meaning the ETF’s net inflows approached the $20 billion milestone. Despite the massive inflows, the price of the largest cryptocurrency has remained rather disappointing, and Balchunas has an explanation for this: “The price is the net result of buyers and sellers, so if ETFs were the buyers, the only answer is that other holders were selling as or more. Once again, the call is coming from inside the house,” he said. According to FalconX head of research David Lawant, there is a “statistically significant” relationship between changes in ETF flows and prices, which currently stands at 0.30. Lawant believes that if the market finds a sustainable direction, this correlation “could continue to intensify.”
president comments on RLUSD use cases as launch approaches
During the annual Ripple Swell event, Ripple CEO Monica Long highlighted an important milestone for the company, focusing on the future use of its stablecoin RLUSD. In her post, X Long outlined the applications of RLUSD in financial sectors such as payments, DeFi and tokenization, highlighting its role, alongside XRP, in facilitating cross-border payments. Ripple’s payment solutions currently reach over 90 countries, enabling over 37 million transactions worth almost $70 billion. Additionally, RLUSD aims to provide users with a stable means to convert fiat currencies to cryptocurrencies and vice versa, alleviating concerns about price volatility. Long also noted that RLUSD is designed as an enterprise-grade solution to meet the needs of Ripple’s partners and customers.
$206 million in 24 hours, SHIB confirmed?
As Shiba Inu trading volumes increase, bullish sentiment appears to have returned to the SHIB community; in the last 24 hours, the indicator saw an increase of 21.21%, reaching $206.48 million, which sparked discussion about a potential price increase. Over the past month, the coin’s price has increased by an impressive 39.29%, reflecting growing interest despite the broader market slowdown. A sharp increase in trading volume signals increased market activity, often preceding significant price movements. This increase in SHIB activity aligns with the overall uptrend in the cryptocurrency market, supported by Bitcoin’s recent surge to $67,000, which tends to benefit altcoins like SHIB. Investor confidence appears to be growing, supported by a recovery in the broader cryptocurrency market and a potential increase in buying pressure on SHIB as investors look for opportunities beyond Bitcoin.
