3.6 Billion XRP in 24 Hours, Samson Mow Expects 'Super Bullish Bitcoin News' Soon, Ethereum ETFs Witness Massive Outflows: Crypto News Digest by U.Today
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U.Today presents the top three news stories over the past day.
3.6 billion XRP in 24 hours, What's happening?
Yesterday, XRP token managed to leave the waters of the "sea of red," with its price seeing modest 0.95% growth and reaching $0.6090 over the previous 24 hours. Additionally, the token's trading volume saw an astonishing increase; according to CoinMarketCap data, the volume surged 47% to $2,238,753,637. Among the factors that contributed to the uptick is rumors about a settlement or decision in the Ripple v. SEC lawsuit. According to these rumors, the regulating agency and the fintech giant are allegedly meeting behind closed doors. Despite the fact that previous settlement arrangements were unsuccessful, there are signs that both parties may have the conversation at any moment. Currently, however, both XRP's price and its trading volume are seeing a drop; the Ripple-affiliated token is changing hands at $0.5904, down 4.45% over the past 24 hours.
Super bullish Bitcoin (BTC) news coming in next few days: Samson Mow
Samson Mow, Jan3 CEO and Bitcoin enthusiast, has taken to X platform to make yet another bullish statement regarding the flagship cryptocurrency. This time, Mow stated that over the next few days, the BTC community should expect "some super bullish Bitcoin news." The CEO has not provided any details about what kind of news this could be; however, he added that the "market should be a bit more green." Mow's post drew the attention of prominent trader Willy Wo; in a comment, he reminded Mow that Bitcoin fundamentals "play out in the long time frames" and "in the long time frames BTC is nothing but green." Wo also advised the CEO and BTC enthusiasts not to focus on short-term time frames, saying that that is "the domain of degen traders."
Tomiwabold OlajideIt is over: Ethereum ETFs disappoint community with massive outflows
Data provided by Farside Investors shows that on the second day of trading, Ethereum exchange-traded funds (ETFs) saw outflows totaling over $133 million. Even though Fidelity's FETH registered $74.5 million worth of inflows, Grayscale's mini ETF $45.9 million and BlackRock's ETHA $17.4 million, these inflows were insufficient to counteract the enormous outflows recorded by Grayscale's ETHE, which lost $326 million on Wednesday. The outflows are expected due to ETHE's huge 2.5% fee. As previously reported by U.Today, Ethereum ETFs entered the scene with "very solid" inflows. However, it appears that these products might be having trouble maintaining their momentum. Yesterday, Ethereum dropped as low as 8%, but today it is making a slow recovery, changing hands at $3,251, up 3.59% over the past 24 hours.
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