U.Today – Check out the top three U.Today news stories from the last day.
introduces cryptocurrency vaults for banks in a phase of significant expansion
As CNBC reported on Thursday, October 10, fintech giant Ripple has expanded its cryptocurrency custody business with recent services aimed at helping banks and financial technology companies store digital assets for their customers. These services include pre-configured operational settings, XRP Ledger integration, AML risk monitoring, and an improved user interface. Thanks to this initiative, Ripple can expand its services beyond established payment settlement. Additionally, it allows the company to successfully compete with established companies such as Coinbase (NASDAQ:), Gemini and Fireblocks in the deposit solutions market.
Shibarium is finally waking up in DeFi
The Shiba Inu project is actively working to expand its presence in the DeFi sector, particularly through its Layer 2 scaling solution Shibarium launched last year. Although progress is relatively tardy, recent data shows promising developments in the Shibarium DeFi ecosystem. According to DefiLlama, Shibarium’s total value locked (TVL) has reached $4.37 million, following a recent record high of $4.81 million. This raise represents a notable raise from the previous record of $3.9 million recorded earlier in March, highlighting the shift in retail dominance. The largest decentralized application (dApp) remains ShibaSwap, which currently has $2.22 million in TVL, while the newly launched K9 Finance DAO ranks second, suggesting renewed optimism about Shibarium’s potential as a key player in the DeFi landscape.
the whale depreciates with $424 million in BTC
Bitcoin struggled to break through the $61,000 range, remaining below its all-time high of $73,780 in March, leaving some investors concerned. According to a recent report by Spot On Chain, a vast Bitcoin whale was forced to sell some of its holdings due to BTC’s indigent performance; this investor withdrew 8,510 BTC from Bitfinex in June and August this year, but has now deposited 1,500 BTC back to the exchange. The estimated value of these sold coins is approximately $92.95 million, with the whale suffering a loss of approximately $30.54 million because the sale price is lower ($61,965) than the average purchase price ($64,434). With 7,010 BTC still in its wallets, worth approximately $424.6 million, it is speculated that the whale may continue selling ahead of a possible market downturn. This selling behavior may indicate panic, which could further push Bitcoin’s price higher in the near future.
