Are you ready to learn about the latest developments in the cryptocurrency market? Dive into the top three news stories from the past weekend brought to you by U.Today.
Unusual activity was spotted in the SHIB community on Saturday, Sept. 21, with 0 SHIB tokens burnt in 24 hours. This unexpected occurrence raised concerns about the effectiveness of the ShibTorch portal and the token burning process. However, later in the day, the burn rate surged by 547%, with over 1.7 million SHIB tokens destroyed.
In a surprising turn of events, a dormant Bitcoin wallet holding 59 Bitcoins worth $3.8 million was activated after 13 years of inactivity. This awakening coincided with a spike in Bitcoin's price, but no direct correlation was observed. Additionally, another ancient wallet containing 50 Bitcoins emerged from hibernation on Sunday after 14 years.
Last Friday, BlackRock's Bitcoin options received approval from the SEC and will be traded on the Nasdaq under the IBIT ticker. This move was praised by crypto influencers like Michael Saylor and Anthony Pompliano, who believe it will accelerate institutional Bitcoin adoption. However, Pompliano advised investors to manage their expectations regarding future returns.
In conclusion, these developments highlight the volatility and unpredictability of the cryptocurrency market. It is essential to stay informed and cautiously navigate these trends to make informed investment decisions that align with your financial goals.