U.Today – Here are the top three news stories presented by U.Today.
MicroStrategy’s Saylor reacts to surge above $80,000
Bitcoin continues its stunning rally, with its price hitting a new high of $89,000 on CoinMarketCap earlier today. This feat cannot leave any player in the crypto market indifferent, especially a strong supporter of Bitcoin like former MicroStrategy CEO Michael Saylor. Last weekend, when BTC was in the early stages of its rise and had just reached an all-time high of $80,772 on Bitstamp, Saylor celebrated on social media by sharing the piece of music by Lil Bubble, “There Is No Second Best”. The track was inspired by Saylor’s phrase, used in one of his videos, in which he advocated Bitcoin maximalism. The MicroStrategy co-founder is fully committed to investing in Bitcoin, rejecting any interest in altcoins. Currently, the company’s Bitcoin holdings are valued at around $23 billion, following the asset’s latest price surge.
Sensational 21,000 billion (SHIB) in 24 hours: all records are broken
On Monday, November 11, Shiba Inu reached a milestone with 21 trillion transactions in 24 hours. This rise led to a significant increase in its price and a renewed focus on the meme coin. According to recent data provided by IntoTheBlock, SHIB network activity is driven by high trading volumes and growing investor interest, suggesting a breakout fueled by fear of missing out (FOMO) among investors. However, increased whale activity may indicate that large holders are making profits, which could impact the market by moving their assets. The current high trading volume raises concerns about possible downward pressure on the SHIB price, particularly if whales continue to sell their holdings. As SHIB continues to grow, it will be important for investors to keep an eye on resistance levels, while remaining alert to the possibility of market corrections.
and ADA ETF Deposits Predicted by Top Analyst
In a recent X article, Nate Geraci, co-founder of the ETF Institute, made a prediction that several cryptocurrency ETF filings are going to be filed this week in the United States. These ETF products are expected to focus on altcoins such as XRP, (SOL) and (ADA). Geraci believes there is no “downside” to ETF issuers becoming aggressive. As U.Today reports, SEC Chairman Gary Gensler is expected to resign soon, with Dan Gallagher, Robinhood’s (NASDAQ:) top lawyer, a top candidate to succeed him. Under Gensler’s leadership, the SEC approved various Bitcoin ETF products, despite criticism from the cryptocurrency community. Notably, Gensler also recently approved spot ETFs, and filings for ETFs targeting other altcoins, such as Solana and XRP, have already begun.