U.Today – U.Today brings you the top three cryptocurrency news stories from the last day.
XRP price drops after SEC appeal
After keeping the XRP community in suspense until almost the last minute before the October 7 deadline, the US SEC has officially decided to appeal the Ripple ruling. We recall that last year, Judge Analisa Torres ruled that secondary sales of XRP are considered non-securities, which was considered a major victory for the San Francisco-based company. Stuart Alderoty, Ripple’s chief legal officer, previously stated that he would not be surprised if the SEC filed an appeal, adding that he believed it would have no impact on the legal status of the XRP token. Following the announcement, the price of XRP dropped significantly; At the time of writing, XRP is trading at $0.52, down 10.85% in the last 24 hours, according to CoinMarketCap.
When does Uptober actually start? price history reveals everything
October got off to a rocky start, with Bitcoin falling 3.98% and the total altcoin market cap dropping by $41.67 billion. However, according to Bitcoin analyst Timothy Peterson, Bitcoin may not see green candles yet this month. In a recent post on X, Peterson wrote that the so-called “Uptober” may not start until after October 19. While historical data indicates that Bitcoin has typically performed well in October, with an average gain of over 14% and a median return of around 13%, it is significant to note that each month that ended in positive territory has previously been profitable from the start. Thus, October may have started disappointingly and failed to meet the usual “Uptober” expectations, but historical data suggests that it is worth withholding final judgments for at least two weeks, as the median of its 11-year history public quotations indicate that better days may still lie ahead. coming on the horizon.
(SHIB) will explode by 2.944% in a massive raise in bull whale activity
According to the latest data provided by IntoTheBlock, yesterday the Shiba Inu witnessed a significant raise in the network flow of vast holders; in 24 hours, this rate skyrocketed by over 2,944%. If you put it into numbers, the total net flow of Shiba Inu tokens into the whale wallet was 322.7 billion SHIB, which is a drastic change from the negative flow of -10.96 billion SHIB the previous day. This suggests that the whales have become bullish and are accumulating the token. Moreover, during the reporting period, the special rate of inflows reached SHIB 2.67 trillion, outpacing outflows of SHIB 2.35 trillion. The driving force behind netflow’s growth is the price of SHIB or growing interest in it. The renewed interest in SHIB comes after a 40% price surge after the token snapped out of a six-month downtrend. However, there was a slight deterioration: a decline of 19% and then a rebound of 6%. This correction is seen as robust and could set the stage for further price increases, especially as many delayed investors have withdrawn from the market.
