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Shiba Inu: Millions of Bitcoin Profits Set to Flow Into SHIB
Bitcoin reached $44,000 on Thursday making it touch a yearly high in 2023. BTC began the year trading at a low of $16,500 and sustainably scaled up in price despite the odds. The leading cryptocurrency is now attracting bullish sentiments by receiving a large inflow of funds from various quarters, including institutional investors. Bitcoin’s rise is also helping leading altcoin and other cryptocurrency tokens such as Shiba Inu (SHIB), among others.The king cryptocurrency Bitcoin is now pushing Shiba Inu (SHIB) to delete a ‘zero’ in the indices. Shiba Inu was trading at $0.000007 levels before BTC shot up in price but is now nearing the $0.00000971 mark. Another leg-up could send SHIB to the $0.00001 level making it delete its fifth ‘zero’ due to Bitcoin’s help.A handful of investors who reaped profits from Bitcoin are also now investing in leading altcoins such as Ripple’s XRP, Cardano (ADA), VeChain (VET), and Shiba Inu, along with its competitor Dogecoin. The overall cryptocurrency market is now brimming with fresh enthusiasm making investors reap decent profits.
This isn’t the first time that Bitcoin has driven other altcoins to move in tandem with its steady price rise. BTC has been the market leader and any signals indicating its rise and made other tokens rally along with it. Therefore, Bitcoin profits have a trickle-down effect, and the spillover benefits Shiba Inu, XRP, ADA, and other cryptocurrencies.
Also Read: The Race to $1: Will Shiba Inu or Dogecoin Get There First?
Additionally, the Bitcoin halving is on April 20, 2024, and BTC is expected to rise in the next four months. Read here to know more details about the Bitcoin halving and how the development helps the cryptocurrency markets to spike.
At press time, BTC was trading at $44,000 and up close to 1% in the 24-hours day trade. On the other hand, Shiba Inu was trading at $0.00000971.
Additionally, the Bitcoin halving is on April 20, 2024, and BTC is expected to rise in the next four months. Read here to know more details about the Bitcoin halving and how the development helps the cryptocurrency markets to spike.
At press time, BTC was trading at $44,000 and up close to 1% in the 24-hours day trade. On the other hand, Shiba Inu was trading at $0.00000971.#ContentStar##HotTopicDiscussion##ContentMining##HotColumn##Gate post Highlights# Block, Jack Dorsey's Company, Opens Pre-Orders for Its Bitkey Self-Custody Bitcoin Wallet
Block, Jack Dorsey's fintech company, has announced the pre-order availability of its self-custody bitcoin wallet, Bitkey, in over 95 countries. Bitkey consists of a mobile app, hardware device, and recovery tools, allowing customers to make bitcoin transactions via their mobile phones and store their assets offline. The wallet uses three keys, with one stored on Bitkey's servers for transaction verification and wallet recovery purposes. Pre-orders are expected to be shipped in early 2024. #HotColumn#Ethereum Whale Realizes 670% Profit, Moves Millions to Kraken
A previously inactive Ethereum (ETH) holder has recently emerged, seemingly to capitalize on substantial gains of nearly 700% on over 47,260 ETH they acquired between June and August 2017 at an average price of $240 per token.
According to the on-chain analysis service Lookonchain, this individual has now transferred the remaining 39,260 ETH, valued at $87.5 million, to the popular cryptocurrency exchange Kraken. This significant increase in value is in contrast to the initial worth of around $11.34 million when they originally acquired the assets, resulting in a potential net profit of $78 million, representing a gain of approximately 670%.
This move coincides with a period during which institutional investors have notably increased their holdings of ETH, demonstrating renewed confidence in the cryptocurrency’s long-term potential. This trend has been analyzed by the analytics firm CryptoQuant, which has observed a growing pattern of institutional investors investing in the second-largest cryptocurrency by market capitalization through various channels, including trusts, exchange-traded products, and investment funds.
According to CryptoQuant’s analysis, the surge in institutional interest in Ethereum reflects a strong belief in its enduring value and its potential for further growth in the market. These investors are not merely reacting to current market trends but are also considering Ethereum’s promising future, including the anticipated implementation of Ethereum 2.0 and other enhancements, which are seen as significant drivers of its potential success. $SUIP jumps over 38% as SuiPad partners with Uxlink
Gate.io News: $SUIP, the native crypto of the SuiPad launchpad, is up over 38% in the past 24hours, & now trades around $0.06671, with inflow of $116.01k, as per Gate.io chart.
This comes after SuiPad recently announced its partnership with Uxlink, a platform that seamlessly combines social networking, AI-powered tools, & socialised trading. This will enable users join the next-gen social experience by creating their spaces, connecting with friends, trading & investing in the age of web3 networks & utility token rewards. 
