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.
Cardano founder criticizes XRP
The Cardano founder also recently criticized Ripple CEO Brad Garlinghouse over his support for the CLARITY Act.
Charles Hoskinson, the outspoken founder of Cardano, has reignited his long-standing feud with the XRP community following a harsh personal attack on social media.
The dispute began when an X (formerly Twitter) user insulted Hoskinson, claiming his personal reputation was hindering Cardano's institutional adoption.
The user contrasted Hoskinson with Ripple CEO Brad Garlinghouse, stating, "News flash, your products aren’t hated, you are... Why would large-scale, professional organisations want to pair up with this, the face of the product?"
Hoskinson fired back with a sharp rebuke, using the insult to highlight what he views as a fundamental difference between the architecture of Cardano and XRP: decentralization.
Adam Back denies Satoshi rumors again
Adam Back pushes back on claims he is Satoshi Nakamoto.
Adam Back has once again refuted rumors that he is connected to Satoshi Nakamoto, providing a thorough and remarkably open response that clarifies both his involvement in early cryptographic research and the wider beginnings of Bitcoin.
Back acknowledged his early involvement in cryptography, privacy tech and electronic cash discussions dating back to the early 1990s, making it clear in a series of posts that he is not Satoshi.
His work on Hashcash, a proof-of-work system, is frequently cited as a key component of Bitcoin, which helps to explain why rumors about his identity keep coming up. But Back's denial is not enough.
He draws attention to confirmation bias, a serious problem. His digital footprint is far greater than that of many of his contemporaries because he was very active on cypherpunk mailing lists and regularly discussed e-cash concepts.
David Schwartz explains why no one alive likely has Satoshi's keys
Ripple CTO Emeritus argues that Satoshi Nakamoto's Bitcoin keys were likely lost or destroyed years ago, removing any future market risk from the dormant one million BTC holdings.
Amid a new wave of discussions about who actually created Bitcoin, triggered by a recent investigation by the New York Times, CTO Emeritus of Ripple David Schwartz delivered a rather sobering statement, saying that the debate over who exactly is behind the pseudonym Satoshi Nakamoto is secondary compared to the technical reality — access to the legendary one million Bitcoins has most likely been permanently lost.
Schwartz’s arguments are simple. He believes that over 17 years, anyone’s views change radically, and the idea that someone could consciously ignore a fortune of at least $70-$80 billion without making a single transaction looks implausible.
Therefore, in his view, the genesis keys were most likely destroyed or forgotten back when Bitcoin had no market value, making Satoshi’s holdings dead weight that will never put pressure on the market.
SHIB extends price rally amid 237% surge in burn activity
Shiba Inu's circulating supply continues to deflate as network activity remains strong amid rising burn activity.
Shiba Inu has continued to show strong network activity with its steady deflationary mechanism, which reflects sustained demand for the leading dog-themed meme token.
While its price is currently trading sideways with little to no major increase over the last day, the Shiba Inu network activity suggests that momentum is still building.
Following the steady increase in the Shiba Inu burn activity, data provided by blockchain tracker Shibburn shows that a total of 15,509,996 SHIB has been removed from circulation as of Saturday, April 11.
Compared to the amount of tokens burned in the previous day, the figure marks a massive 237% surge in the SHIB burn rate over the last 24 hours. The burns happened in 10 separate transactions, with batches of millions and thousands of SHIB.
The massive burn activity comes as Shiba Inu is barely showing positive price moves as its price has only surged by 0.24% over the last day, bringing its price to $0.000005917 at the time of writing.
Dan Burgin
U.Today Editorial Team
