Read the top three news stories over the last weekend of March, and stay updated with U.Today!
Tim Draper teases 10-year return on his epic Bitcoin (BTC) bet
Tim Draper, prominent investor and Bitcoin supporter, has recently taken to X platform to reveal the details of his Bitcoin bet. In his post, Draper wrote about investing 300 BTC for 4% of a start-up, which earned him 15 BTC in 10 years. Despite the fact that this figure seemed tiny to many members of the crypto community, the investor emphasized that, when expressed in dollars, the obtained returns represented a 15x return on his investment. Draper's recent revelation has validated the thesis on why Bitcoin is a better hedge against inflation he shared earlier this year, in which he predicted total Bitcoinization of the world. Moreover, the investor believes that by 2025, the flagship crypto could surge to $250,000, and the likelihood of this happening is growing day by day.
Surprising Ethereum long-term indicator for price emerges as ETH dips
While Ethereum witnesses a brief price decline, a notable pattern has surfaced, suggesting possible long-term implications for ETH's value. In recent weeks, market watchers could see an increase in the number of whale transactions, which is viewed as an indicator of the cryptocurrency's long-term price trends by some analysts. Thus, renowned crypto analyst Ali Martinez stated that despite Ethereum's price correction over the past few weeks, ETH whale transactions are on the rise, which is a bullish indicator for future ETH price movements. Whale activity has historically been linked to notable changes in price; huge transactions frequently indicate institutional interest or accumulation. With that said, the current spike in whale transactions may be regarded as a bullish signal for Ethereum, suggesting underlying confidence in its prospects despite short-term price volatility.
XRP alert: 16 million XRP bought by single whale on major Korean exchange
Data provided by Whale Alert tracking service shows that 16 million XRP were moved from Upbit, one of South Korea's largest cryptocurrency exchanges, to an unknown wallet. Such a substantial transaction ignited speculation among the crypto community, with some suggesting the possibility of a whale buying XRP. Then, Whale Alert spotted another massive transaction, carrying 18 million XRP from Upbit to an unknown wallet. In both cases, the unknown destination of the XRP moves may indicate that whales could be accumulating a position. Another suggestion for the reason behind these moves could be that whales are enlarging their XRP holdings in anticipation of positive developments, potential price movements or as part of a longer-term investment strategy. Interestingly, the timing of these transactions also coincides with reports of a possible settlement between Ripple and the SEC; Fox Business journalist Eleanor Terrett wrote in a recent X post, citing Court Listener documents, that there was a "settlement conference" scheduled for March 29.
Gamza Khanzadaev
Yuri Molchan
Arman Shirinyan
