Over the weekend, several significant developments unfolded in the cryptocurrency space, as reported by various sources:
Shiba Inu (SHIB) Gains Recognition from British Red Cross
The meme cryptocurrency Shiba Inu (SHIB) has achieved a notable milestone with the British Red Cross now accepting it as a form of donation. This initiative is made possible through a partnership with Giving Block, a platform specializing in cryptocurrency donations for nonprofits. Donors can contribute SHIB to the British Red Cross with fees ranging from 1% to 3.9% through Giving Block. The donated funds are transferred weekly, highlighting SHIB’s increasing utility and adoption in charitable sectors.
Ethereum ETFs Anticipated for Approval by July 2
Speculation is rife regarding the approval of S-1 registration forms for spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC). SEC Chair Gary Gensler hinted at potential approval “sometime this summer,” prompting experts, including Bloomberg’s senior ETF analyst Eric Balchunas, to speculate on a possible decision by July 2. Balchunas pointed out that minor comments from SEC staff to issuers suggest a nearing decision, potentially before the Independence Day weekend.
Bitcoin Whales and Miners Sell $4.1 Billion in BTC
In a significant market move, large Bitcoin whales and miners have collectively offloaded over $4.1 billion worth of BTC over the past 10 days. Crypto analyst Ali Martinez highlighted that more than 50,000 BTC, valued at approximately $3.30 billion, were sold by whales, while miners sold over 1,200 BTC, worth nearly $80 million. Such sell-offs typically occur when Bitcoin reaches new local highs, allowing miners to cover operational costs and capitalize on profits from mining activities.
These developments underscore the dynamic nature of the cryptocurrency market, showcasing both its growing adoption in charitable sectors and the inherent volatility driven by large-scale transactions.
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