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Shiba Inu Gains Support From British Red Cross, Ethereum ETFs May Be Approved by July 2, Top Expert Says, Bitcoin Whales Go Insane: Crypto News Digest by U.Today

Published 2024-06-17, 12:37 p/m
© Reuters Shiba Inu Gains Support From British Red Cross, Ethereum ETFs May Be Approved by July 2, Top Expert Says, Bitcoin Whales Go Insane: Crypto News Digest by U.Today

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

Shiba Inu (SHIB) gains support from British Red Cross

According to a recent article by the Shib Daily news portal, the Shiba Inu meme cryptocurrency has gained support from the British Red Cross; from now on, the worldwide humanitarian charity organization accepts SHIB as a currency for donation. This became possible thanks to the British Red Cross's partnership with Giving Block, a platform specializing in cryptocurrency donations for nonprofits, which supports the dog-themed token along with other popular digital assets. Users who choose to donate Shiba Inu to the Red Cross can do so with about 1% to 3.9% charges through the Giving Block, depending on the amount. The donated sum is sent to the British Red Cross every week. Shiba Inu's recognition as a valid form of donation underscores its growing utility and acceptance.

Ethereum ETFs may be approved by July 2, top expert reveals

Following a recent hint by SEC Chair Gary Gensler that the regulatory agency may approve S-1 forms for spot Ethereum ETFs "sometime this summer," many experts shared their prognoses on when this major development is going to take place. Bloomberg's senior ETF analyst Eric Balchunas also jumped on the bandwagon; in his latest X post, Balchunas suggested that the likely date for S-1 registration form approval could be July 2. The analyst noted that SEC staff recently sent issuers minor comments on the forms and asked for responses within a week. Thus, according to Balchunas, there is a good chance the regulator will make up its mind before Independence Day weekend, which makes July 2 the most likely date for approval.

Bitcoin whales go insane, unloading $4.1 billion in BTC

According to a recent X post by renowned crypto analyst Ali Martinez, over the last 10 days, large Bitcoin whales and miners have dumped an astonishing amount of BTC. To illustrate this, Martinez attached a chart by Santiment market intelligence platform to his post. The first group of market players sold more than 50,000 BTC, which is valued at approximately $3.30 billion. In turn, the second group, BTC miners, sold more than 1,200 BTC, worth almost $80 million. Together, they got rid of more than $4 billion worth of Bitcoin. Miners regularly sell BTC in order to pay for their operating costs and cash out profits from their mining ventures. That often happens when Bitcoin hits a new local high.

This article was originally published on U.Today

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