Valeria Blokhina
Take a closer look at what’s happening in the world of crypto with U.Today’s news digest!
Here are the top three news stories presented to you by U.Today.
Ripple attracting institutional investors in Dubai: Sologenic report
Even though the SEC lawsuit is still far from being over, Ripple continues reaching new markets around the world, with a particular focus on Dubai and the MENA region. In a recent X post, UAE native firm Sologenic shared its latest report, highlighting Ripple’s efforts to attract institutional investors in Dubai. Sologenic boasted onboarding over 200,000 customers onto the XRP Ledger, expressing its delight at contributing to Ripple’s goal. Earlier this year, in May, Ripple opened a new office in the Dubai International Financial Centre (DIFC). Also, the company’s CEO, Brad Garlinghouse, stated during the Dubai Fintech Summit that XRP Ledger (XRPL) now has over 4.8 million wallets, with 20% of clients coming from the MENA region.
Cramer issues major Bitcoin price warning
During his appearance on CNBC’s “Squawk Box” on Tuesday, billionaire investor Paul Tudor Jones stated that Bitcoin, as well as gold, continues to be a reliable hedge. Prominent CNBC host Jim Cramer disagreed with Jones’s view, arguing that the flagship crypto is facing a significant downturn. “…Mr. Bitcoin is about to go down big,” he said. Many crypto enthusiasts rushed to comment on Jim Cramer’s bearish forecast on Bitcoin. Blockchain.com CEO Peter Smith hinted in a joking manner that BTC will potentially see an “Uptober” following Cramer’s pessimistic outlook. At the moment of writing, Bitcoin is changing hands at $26,687, down 1.41% over the past 24 hours, per CoinMarketCap.
Mysterious Shiba Inu whale buys billions of SHIB as token price takes dip
While SHIB’s value is experiencing a decline, the market witnessed the appearance of a mysterious Shiba Inu whale. Etherscan data shows that yesterday, the address “0xD6” acquired over two billion SHIB, and this enormous purchase coincided with the meme token’s lowest value since mid-June. This investor stands out not only because of the impressive amount of SHIB it purchased but also because of the newness of the address, as its first transaction was made less than a month ago. Currently, this anonymous investor owns a staggering 2.13 billion SHIB. The figure behind the address and the motive of such a move remain unknown.
