XRP beats Bitcoin, Ethereum, Solana and Dogecoin in 24-hour ETF flows
XRP is beating assets from the Big Three and even smaller meme coins in ETF flows.
XRP has surprisingly surpassed Bitcoin, Ethereum and other significant assets in daily ETF inflows. The data shows that XRP-linked products saw net inflows of about $3.3 million, while Bitcoin ETFs experienced a significant outflow of $159 million, and Ethereum products saw outflows of $64 million.
This appears to be a significant relative victory for XRP on paper, but the market context is important. First off, XRP is not taking over as the primary institutional asset. It reflects rotation under pressure more accurately.
Following periods of dominance, Bitcoin and Ethereum are seeing capital outflows, with some of that capital temporarily moving into smaller, more neutral assets like XRP. XRP is advantageous because it occupies a middle ground: it is big enough to be liquid, but it is not linked to the same narratives that are currently affecting ETH and BTC.
The ETF structure for XRP is more sensitive and smaller. Just because the baseline is lower, a few million dollars in inflows can drastically distort the daily comparison. When XRP outperforms Bitcoin in a single-day flow metric, it indicates that Bitcoin is currently losing money more quickly rather than attracting more capital overall.
Shiba Inu burn rate rockets 3,230% as price flips bullish
SHIB sees steady network growth as its burn activity continues to surge at skyrocketing pace, signaling increased demand for the meme token.
Shiba Inu is making waves as its network activity continues to flash bullish signals, and its trading price has begun to reclaim previous highs.
While the broader crypto market has become intensely bullish over the past day, the Shiba Inu burn metric has also skyrocketed as demand intensifies.
Shiba Inu’s supply has continued to plummet as SHIB burn activity shows a notable daily surge, reducing the amount of tokens left in circulation.
On Wednesday, April 8, Shibburn provided data revealing that the Shiba Inu burn rate has surged by a massive 3,230% over the last 24 hours.
While further data revealed that the amount of SHIB burned over the period is worth only about $24, per SHIB’s market value, the move is bullish for its price as it signals growing demand from investors. Thus, it marks a major increase compared to the tokens burned on the previous day.
Saylor names key reason why Back is not Satoshi
A bombshell investigative report published by The New York Times claiming to have finally unmasked Bitcoin's pseudonymous creator, Satoshi Nakamoto, has been met with skepticism from the cryptocurrency industry.
Renowned investigative journalist John Carreyrou has named Blockstream CEO and cypherpunk veteran Adam Back as the elusive inventor of Bitcoin after an 18-month investigation.
However, Strategy founder Michael Saylor was quick to point to a glaring historical flaw that effectively debunks the theory.
Carreyrou's investigation relies heavily on a forensic technique known as "stylometry." The statistical analysis of linguistic style, phrasing, and writing patterns.
After Satoshi's known forum posts and whitepaper with Adam Back's historical writings, Carreyrou concluded that the two are the same person.
However, Saylor pointed to the most obvious piece of evidence contradicting the Times report: Satoshi and Back actively communicated with one another.
"Stylometry is interesting, but not proof," Saylor stated. "The contemporaneous emails between Satoshi and Adam Back suggest they were distinct individuals."
Dan Burgin
U.Today Editorial Team
