The XRP community has been warned about a potentially fraudulent account linked to the U.S. Treasury, urging caution in transactions on the XRP Ledger. Meanwhile, BlackRock CEO Larry Fink suggested that Bitcoin could soar to $700,000 with increased institutional adoption, highlighting its potential as a gold alternative. In the SHIB community, a significant burn of over 3.2 million tokens led to a 5,785% increase in burn rate, although the token’s price remains relatively stable.
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Bitcoin and Ether ETFs See Significant Inflows After Holiday Slump
U.S. spot Bitcoin ETFs saw a significant turnaround with net inflows of $475.2 million on December 26, following a $1.52 billion outflow over four days. The Fidelity Wise Origin Bitcoin Fund led the inflows, while Bitcoin’s price dipped to just above $96,000.Ether ETFs also performed well, recording $117.2 million in inflows, driven by Fidelity and BlackRock. With only three trading days left in 2024, the crypto ETF market shows increasing investor interest and optimism for 2025, despite recent price volatility.
read moreBlackRock Surpasses Ethereum Foundation in ETH Holdings Amid Price Analysis
BlackRock has surpassed the Ethereum Foundation in ETH holdings, reaching 318k coins, and is on track for nearly $1 billion in net inflows with its ETHA product. Analysts suggest that the recent drop in ETH gas fees could indicate a mid-term price bottom, historically followed by a rebound, especially with a potential Fed rate cut in September. Currently, ETH is trading between $2500 and $2750, with its next price movement likely influenced by Bitcoin’s direction.
read moreEthereum ETFs Experience Mixed Performance in Early Trading Days
US Ethereum ETFs saw mixed performance on their second day, with significant outflows from Grayscale’s Ethereum Trust impacting overall figures. While some new ETFs experienced net inflows, Grayscale’s ETHE faced substantial outflows following its conversion to a spot Ether fund. Ethereum’s price decline, influenced by broader market trends, also contributed to the ETFs’ performance.
read moreBitcoin Surges Over 3% Despite Sell-Off Events; Altcoins Follow Suit
Bitcoin prices surged over 3% to reach USD 65,758, driven by increased investor interest and positive sentiment following an event related to US presidential candidate Donald Trump. Major altcoins like Ethereum, XRP, and others also saw gains, contributing to an overall optimistic sentiment in the crypto market. Despite Mt. Gox’s significant BTC movement, Bitcoin remained stable above the $65K mark. Bulls are now eyeing the $71,500 level as key resistance.
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