200 Billion SHIB Suddenly Land in Gemini's Wallet, BlackRock Makes History as $2.1 Billion Enter BTC Market; DOGE, XRP Surprisingly Outperform All Cryptos: Crypto News Digest by U.Today

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U.Today has prepared the top three news stories over the past day.

200 billion Shiba Inu (SHIB) suddenly land in top U.S. exchange's wallet

According to a recent X post by Spot On Chain, Gemini, one of the largest cryptocurrency exchanges in the U.S., has transferred significant funds into a new multisignature custody wallet created only 18 days ago. The wallet quickly accumulated a variety of altcoins, including a massive acquisition of 200 billion Shiba Inu (SHIB) tokens worth around $3.39 million. Additionally, the wallet holds 42,000 ETH worth $103.8 million; 350,000 LINK valued at $3.77 million and 400 billion PEPE tokens worth $3.29 million. At the moment, Gemini manages assets worth $6.05 billion and handles an average daily turnover of $53.98 million. By securing a substantial amount of SHIB, the exchange signals growing institutional interest in the token, which could enhance its attractiveness to both new investors and existing holders.

BlackRock makes history as $2.1 billion enter Bitcoin market

BlackRock's iShares Bitcoin Trust (IBIT) can boast of a significant development, as it registered the largest weekly net inflows since March 2024, when Bitcoin reached all-time highs of about $74,000. Ki Young Ju, CEO at CryptoQuant, highlighted this event on X platform, noting that $2.11 billion flowed into the Bitcoin market. As a reminder, over the past week, BlackRock's Bitcoin fund experienced an outstanding net inflow, with $872 million entering the IBIT on Wednesday, hitting a daily record. This inflow stands as one of the largest since the fund's inception, marking a new all-time high for BlackRock. Despite reaching a peak of $73,624 last Tuesday, Bitcoin faced a downturn, dropping to lows of $67,444 by Sunday. Currently, Bitcoin is changing hands at $68,763, down 0.12% over the past 24 hours, per CoinMarketCap.

DOGE, XRP surprisingly outperformed all cryptos

As the crypto market is experiencing a slowdown after the bullish activity of "Uptober," some established digital assets are showing strong performance. One of them is Dogecoin (DOGE); yesterday, the dog-themed meme coin's market capitalization gained 3.7%, reaching over $23 billion. Over the past week, Dogecoin (DOGE) has outpaced all its competitors with a 9% increase. The worst performer among meme coins is Popcap (POPCAT), whose value decreased by 11.7% overnight. Floki (FLOKI), Pepe (PEPE) and Based Brett (BRETT) are also experiencing declines, with Floki seeing its market capitalization fall below $1.2 billion. In contrast, XRP is shining bright, adding 1.7% and nearing a market capitalization of $30 billion.