ETH Active Supply Falls while Ripple’s Former CTO Resumes Dumping XRP
ETH Active Supply Falls while Ripple’s Former CTO Resumes Dumping XRP.Surging prices, anticipation, and steady coin interest round out today’s headlines.
BlackRock Files with the SEC, Plans to Allocate Funds to Bitcoin Futures
Two filings with the United States Securities and Exchange Commission (SEC) suggest that BlackRock, one of the world’s largest asset managers, will soon allocate a portion of their trillions to Bitcoin.
The fillings, the BlackRock Funds V and BlackRock Global Allocation Fund, Inc., revealed that the firm is interested in Bitcoin derivatives, specifically Futures.
Although the asset manager, controlling trillions, highlighted some risks associated with Bitcoin futures like illiquidity concerns, since they are not widely traded like other futures in the traditional markets, this, judging from the fillings’ language, won’t stop the giant from delving.
In this, they will only participate in cash-settled Bitcoin futures offered by an exchange regulated by the United States Commodity Futures Trading Commission (CFTC).ETH Active Supply Falls while Ripple’s Former CTO Resumes Dumping XRP
Even so, they didn’t specify when or the amount they will allocate to Bitcoin. However, from historical fillings, these applications often predate heavy investments in the world’s largest cryptocurrency.
Active ETH Supply Falls to a Three-Year Low
Despite the ETH/USD price tanking after registering a new all-time high, the number of ETH inactive supply (at exchanges) is at a new three-year low, data from Santiment reveals.
Concurrently, more whales are keen on holding their assets while those with less than 10,000 opt to take profits at spot levels.
Their action, market forces suggest, could explain the recent contraction, an opportunity for more believers to ramp up purchases, supporting prices.
According to a Grayscale executive, Michael Sonnenshein, investors are buying into Ethereum for diversification reasons, a net positive for bulls aiming at $10k in the medium-term.
Founder of Stellar Lumen Resumes Dumping of XRP
The former CTO of Ripple, a for-profit company, continues to dump millions in XRP, on-chain data reveals.
Jed McCaleb owned 9 billion XRP and has been selling the coin, founding the Stellar blockchain.
In the last four days, Jed sent 120 million to Bitstamp, worth approximately $4 million.
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