Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Take a look at what happened in the world of crypto by reading U.Today’s top three news stories.
Bloomberg: US companies might reconsider role of crypto in treasury management
According to Bloomberg Intelligence strategists Lu Yeung and Breanne Dougherty, public companies might rethink the role of Bitcoin in corporate treasury management due to its resilience. While Bitcoin tends to trade in tandem with the U.S. stock market, this correlation has begun to wane since "Liberation Day." Bitcoin demonstrated surprisingly good performance during recent tariff-related turmoil, which led to speculations about potential decoupling. BTC's 10-day volatility is lower than that of major stock market indices. The strategists argue that corporate leaders could "revisit" Bitcoin's role as a hedge against the U.S. dollar amid increasing macroeconomic uncertainties. As stated by David Lawant, head of research at FalconX, while Bitcoin is not yet moving independently, it is no longer amplifying equity risks like it used to. "That's the real and important signal," he wrote.
Gamza Khanzadaev12 million RLUSD tokens destroyed by Ripple
As reported by the Ripple Stablecoin Tracker X account, on Wednesday, April 23, Ripple burned 12 million Ripple USD (RLUSD) tokens. The incineration was followed by the minting of the same amount of tokens at the RLUSD Treasury. As a reminder, earlier this month, Ripple created more than 100 million tokens in response to increasing demand. According to data provided by CoinMarketCap, the market capitalization of RLUSD is nearing the $300 million mark; at press time, this metric is standing at $294 million. Ripple aims to position RLUSD among the top five stablecoins by market cap by the end of this year. The stablecoin is available on such platforms as Bitstamp, Kraken and Bullish.
$912.7 million: Bitcoin ETFs score largest daily inflows since BTC ATH in January
This week, spot Bitcoin ETFs experienced their largest inflows since Bitcoin reached its all-time high of over $109,000, according to Spot On Chain X account. This happened on the same day Donald Trump was inaugurated as U.S. president, on Jan. 20. As revealed by the aforementioned source, on April 22, Bitcoin ETFs saw a remarkable total of $912.7 million in inflows. Interestingly, BlackRock’s IBIT ETF did not lead the inflow rankings this time; instead, the largest inflow was registered by Ark 21Shares with $267.1 million, followed closely by Fidelity with $253.8 million. BlackRock's IBIT ETF came in third with an inflow of $193.5 million. For Ark 21Shares, this was the second-largest daily inflow since its trading began last year following SEC approval.
Vladislav Sopov
Dan Burgin