200 Billion SHIB Suddenly Land in Gemini's Wallet, BlackRock Makes History as $2.1 Billion Enter BTC Market; DOGE, XRP Surprisingly Outperform All Cryptos: Crypto News Digest by U.Today

U.Today has prepared the top three news stories over the past day.

200 billion Shiba Inu (SHIB) suddenly land in top U.S. exchange's wallet

According to a recent X post by Spot On Chain, Gemini, one of the largest cryptocurrency exchanges in the U.S., has transferred significant funds into a new multisignature custody wallet created only 18 days ago. The wallet quickly accumulated a variety of altcoins, including a massive acquisition of 200 billion Shiba Inu (SHIB) tokens worth around $3.39 million. Additionally, the wallet holds 42,000 ETH worth $103.8 million; 350,000 LINK valued at $3.77 million and 400 billion PEPE tokens worth $3.29 million. At the moment, Gemini manages assets worth $6.05 billion and handles an average daily turnover of $53.98 million. By securing a substantial amount of SHIB, the exchange signals growing institutional interest in the token, which could enhance its attractiveness to both new investors and existing holders.

BlackRock makes history as $2.1 billion enter Bitcoin market

BlackRock's iShares Bitcoin Trust (IBIT) can boast of a significant development, as it registered the largest weekly net inflows since March 2024, when Bitcoin reached all-time highs of about $74,000. Ki Young Ju, CEO at CryptoQuant, highlighted this event on X platform, noting that $2.11 billion flowed into the Bitcoin market. As a reminder, over the past week, BlackRock's Bitcoin fund experienced an outstanding net inflow, with $872 million entering the IBIT on Wednesday, hitting a daily record. This inflow stands as one of the largest since the fund's inception, marking a new all-time high for BlackRock. Despite reaching a peak of $73,624 last Tuesday, Bitcoin faced a downturn, dropping to lows of $67,444 by Sunday. Currently, Bitcoin is changing hands at $68,763, down 0.12% over the past 24 hours, per CoinMarketCap.

DOGE, XRP surprisingly outperformed all cryptos

As the crypto market is experiencing a slowdown after the bullish activity of "Uptober," some established digital assets are showing strong performance. One of them is Dogecoin (DOGE); yesterday, the dog-themed meme coin's market capitalization gained 3.7%, reaching over $23 billion. Over the past week, Dogecoin (DOGE) has outpaced all its competitors with a 9% increase. The worst performer among meme coins is Popcap (POPCAT), whose value decreased by 11.7% overnight. Floki (FLOKI), Pepe (PEPE) and Based Brett (BRETT) are also experiencing declines, with Floki seeing its market capitalization fall below $1.2 billion. In contrast, XRP is shining bright, adding 1.7% and nearing a market capitalization of $30 billion.