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Bitcoin, Ethereum, and XRP Win Big as Crypto Investment Products See 10th Straight Weekly Inflows of $3.23B

Lele Jima
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Bitcoin, Ethereum, and XRP Win Big as Crypto Investment Products See 10th Straight Weekly Inflows of $3.23B

Crypto investment products record another weekly streak of inflows totaling $3.23 billion, with Bitcoin, Ethereum, and XRP emerging as the biggest gainers. 

Leading digital asset manager CoinShares disclosed this in its latest report, providing insights into crypto-backed investment vehicles. According to the report, crypto investment products recorded an astounding $3.23 billion in inflows last week. 

10th Consecutive Inflows with Bitcoin Leading the Charge 

This marked the 10th consecutive week of positive flows into crypto investment products. Consequently, the total year-to-date (YTD) flows soared to a jaw-dropping $44.5 billion, four times the figure recorded in previous years. In addition, the asset under management (AUM) across all crypto investment products stands at $167.41 billion. 

Expectedly, Bitcoin-backed investment products received the most inflows, accounting for $2 billion of the total weekly inflows. 

Since the U.S. election, Bitcoin has significantly boosted total inflows into crypto investment products, attracting about $11.5 billion. 

Per the data, Bitcoin’s month-to-date (MTD) inflow stands at $4.67 billion, with YTD inflows of $38.58 billion. With the latest inflow of $2 billion in the past week, Bitcoin’s AUM soared to $135.02 billion.

Ethereum Registers Seventh Consecutive Weekly Inflows 

Meanwhile, Ethereum saw its seventh consecutive weekly inflow last week after investment vehicles tied to ETH registered $1.09 billion in inflows. These products have attracted $3.7 billion in investments within the past seven weeks. 

The MTD flows into Ethereum products stand at approximately $2.25 billion, while YTD inflows have soared to $4.45 billion.

XRP and Other Assets Weekly Inflows 

Interestingly, XRP also saw strong institutional interest over the past week, as its weekly inflows hit $145 million. CoinShares attributed this surge to growing anticipation for a U.S.-listed spot-based ETF tied to the asset.

As reported earlier, several asset managers, including WisdomTree and Bitwise, have officially applied with the SEC to launch XRP ETFs in the United States. 

Although the SEC has not acknowledged any of the applications exclusively focused on XRP, speculation indicates that the agency will approve at least one of these filings under a new SEC leadership. 

Other crypto assets with positive inflows in the past week include Short Bitcoin ($14.6 million), Polkadot ($3.7 million), Litecoin ($2.2 million), Cardano ($1.9 million), Solana (SOL), BNB ($700,000), and Chainlink ($700,000). 

Conversely, multi-asset investment products ended the past week in outflows totaling $31 million, according to data from CoinShares. 

Regional Flows 

In terms of regional flows, the United States accounts for $3.13 billion of the total inflows recorded in the past week. Most of these investments went into U.S.-listed ETFs linked to Bitcoin. 

While investors poured $1.51 billion into the BlackRock iShares Bitcoin Trust (IBIT), they also invested $598 million in the Fidelity Wise Origin Bitcoin ETF (FBTC). 

Furthermore, BlackRock and Fidelity U.S.-listed Ethereum ETFs attracted investments worth $523 million and $258 million, respectively, in the past week. 

Other countries with substantial inflows over the past week include Switzerland, Germany, Brazil, Hong Kong, Canada, and Australia. They saw positive netflows worth $35.6 million, $32.9 million, $24.7 million, $9.7 million, $4.9 million, and $3.8 million, respectively. 

Shiba Inu Makes Key MetaMask Ranking Despite Stalling Rally

Okoya David
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Shiba Inu Makes Key MetaMask Ranking Despite Stalling Rally

MetaMask confirms that interest in Shiba Inu among market participants remain high despite the ongoing consolidation phase.

After rising over 98% from about $0.00001687 to highs around $0.00003343 after the U.S. election, Shiba Inu’s (SHIB) rally appears to be stalling.

Last week, for example, the popular doggy-themed meme coin declined by over 15% from an opening price of $0.00003219 to close at about $0.00002788. Despite this lackluster price showing, interest in the token remains significantly high, at least according to a recent MetaMask ranking.

Shiba Inu (SHIB) Swaps Remain High

SHIB was among the most swapped tokens by MetaMask users last week. According to the popular Ethereum wallet, it was the fifth most swapped token on the platform during the period in question.

Other tokens in the top five rankings were Pepe Unchained (PEPU), Pepe (PEPE), Baby Doge (BabyDoge), and HEX (HEX), in first, second, third, and fourth place, respectively.

SHIB’s appearance in the ranking highlights high interest among traders. The metric holds even more weight, considering MetaMask’s large customer base. The wallet is widely regarded as the most used Ethereum wallet, with over 30 million monthly users. 

Interestingly, with the latest development, SHIB has now appeared in the MetaMask ranking for three consecutive weeks.

A Potential High Return Play?

The sustained interest in SHIB despite recent price slumps comes as some investors may see the asset as a potential high-return play. 

That’s because despite SHIB’s impressive November 2024 rally, it still significantly underperformed meme coin market leader Dogecoin (DOGE). Specifically, while SHIB rose up to 98% after the election, DOGE surged 220%, suggesting the former may even have more latent bullish potential.

Amid these speculations, one market commentator has recently suggested that SHIB is at a critical point, testing the upper bounds of a years-long downtrend.

According to the analyst, the meme coin could kick off a 150% rally or decline from here, depending on whether or not the resistance holds. At the time of writing, the token exchanges hands for about $0.00002689.

XRP Can Reach $1.2T Cap, Top Analyst: Here’s What XRP Would Look Like in Such a Case

Abdulkarim Abdulwahab
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CrediBULL, a widely followed technical analyst, has suggested that XRP could reach a $1.2 trillion market cap as the ongoing bull run progresses into the new year.

The seasoned analyst made this prediction in a recent commentary on X, discussing the short-term fluctuations observed in XRP’s price.

For context, XRP surged nearly 500% in recent weeks, particularly between mid-November and early December. However, the asset’s bullish momentum lost steam after XRP reached a price of $2.87. Specifically, XRP has struggled around the $2 mark over the past two weeks, even dipping to $1.90 at one point before recovering.

Commenting on XRP’s recent price action, CrediBULL advised non-traders to “zoom out” and focus on the bigger picture. He emphasized that XRP’s structure looks exceptionally clean and bullish from the current position, describing it as “insane.”

The analyst urged holders to ignore the short-term fluctuations, calling them mere “noise” for non-traders. He reassured them that the broader market outlook is “incredibly and unequivocally bullish.”

XRP to $1.2T Market Cap by Early 2025

CrediBULL referenced a historical XRP chart, pointing out that the asset is largely in a long-term uptrend and is now undergoing a brief consolidation. He believes a breakout from this consolidation is inevitable, in line with past patterns.

Notably, the chart CrediBULL shared depicted XRP’s potential path through 2025, suggesting the possibility of reaching as high as $22 in the first quarter. Currently, XRP is trading at $2.39, with a market cap of $137 billion.

Reaching $22 would require an additional 820% increase from its current level, boosting XRP’s market cap to $1.26 trillion.

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CrediBULL XRP chart

When asked to confirm this projection, especially regarding the first-quarter timeline, CrediBULL responded affirmatively. However, he noted that the timeline could extend into the second quarter of 2025.

Clarifying the Insight from the Chart

Meanwhile, he also cautioned that, as with all charts, the time and price aren’t shown in exact proportion. He advised taking things step by step, noting that this chart is meant to illustrate how early XRP is in the context of a larger, higher-timeframe impulsive structure.

Additionally, another commenter asked for CrediBULL’s thoughts on potential triggers for XRP’s price beyond the chart, such as the upcoming RLUSD stablecoin and lower interest rates.

CrediBULL responded that it’s impossible to know the exact driving force behind the price action. He agreed that multiple factors could influence buying behavior but explained that it’s too difficult to quantify the effect of each fundamental catalyst. 

Therefore, it’s best to focus on the chart and the unfolding structure. According to CrediBULL, the specific causes of the price movement don’t matter as much as the broader market structure.

Will PEPE Surge Following a Triangle Breakout to $0.0000314?

Albert Brown
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Will PEPE Surge Following a Triangle Breakout to $0.0000314?

As a triangle pattern holds the fate of PEPE, the underlying volatility signals a potential breakout toward a new all-time high.

Despite the inverted head-and-shoulders pattern and breakout from the consolidation range, the sudden loss of momentum in the PEPE rally has resulted in price compression. This indicates a potential for increased volatility in the near term.

Currently, the PEPE coin is trading at $0.00002389, marking a 4% drop over the past 24 hours. This decline has undermined the recovery from last night.

PEPE Price Analysis

Amid increasing pressures, the PEPE coin price is forming a symmetrical triangle pattern on the 4-hour chart. As the price approaches the apex of the triangle, the meme coin appears to be preparing for a breakout that could set a decisive trend in motion.

PEPE price chart
PEPE price chart

Currently, PEPE’s price is testing the local support trendline. Furthermore, the MACD and signal lines are struggling to maintain a positive trend, as the bearish candle signals a potential merger. This suggests a possible bearish crossover with a new wave of negative candles.

According to the pivot levels, overhead resistance aligns with the center pivot level at $0.00002472. A breakout above this level would mark a key turning point for the PEPE coin price.

Thus, PEPE must maintain a strong close above this critical level to trigger a decisive bullish rally. Successfully doing so would confirm short-term bullish dominance.

This would also break the lower-high formation on the 4-hour chart. Conversely, a failure to break bullishly could see PEPE fall toward the local support trendline near $0.00002310.

Triangle Breakout Targets for PEPE

In case of a bullish breakout, the crucial resistance levels for PEPE are at the R1 and R2 resistance pivot levels, $0.00002780 and $0.00003144, respectively.

However, in case of a breakdown, the nearest support level is the S1 pivot level at $0.00002107. In such a case, traders should remain cautious as the downside risks become significant. Hence, the downside risk remains at 11.65%.

Messari Co-founder Blasts XRP and Cardano Communities as Bot Groups

Okoya David
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Messari Co-founder Blasts XRP and Cardano Communities as Bot Groups

Messari’s Ryan Selkis takes a jab at the XRP and Cardano communities.

Despite being among the oldest and most prominent Layer 1 blockchains by several metrics, the XRP Ledger and Cardano are often regarded with disdain in the crypto community, with critics often questioning their use cases.

One of the loudest voices in this campaign against these leading Layer 1 chains in recent months has been Messari co-founder Ryan Selkis. Over the past two days, the controversial crypto figure has reignited hostilities with the communities behind these blockchains with a fresh tirade.

No Users?

Ryan Selkis has again taken aim at the XRP and Cardano communities. In an X post on Saturday, December 14, Selkis dismissed the XRP and Cardano communities as loud and worthless “bot groups on X.” He suggested that both blockchains lacked products and users.

The recent tirade likely follows the backlash the former crypto executive faced after a virulent attack on Ripple Chief Legal Officer Stuart Alderoty and the XRP community on the same day.

In an X post filled with references from the 1994 crime thriller “Pulp Fiction,” Selkis attempted to dispel any narrative that Ripple had any strong ties to the incoming Donald Trump administration in response to a picture of Alderoty with Vivek Ramaswamy. He further slammed XRP as “a piece of shit” while dubbing Ripple “the drowning victim of crypto.”

The weekend rants are the latest in a growing list of outbursts from the Messari co-founder against XRP and Cardano.

No Love Lost

There is no love lost between Selkis and the XRP and Cardano communities. 

The Messari co-founder has long labeled XRP as centralized, and in several posts over the past month, he has maintained that the only purpose of XRP was to enrich insiders, namely Ripple executives.

The controversial former crypto executive has increasingly voiced this view, citing perceived risks to crypto from the association of Ripple with the Trump administration.

As for Cardano, Selkis has been at war with the community since Messari failed to mention the blockchain in its 200-page “CRYPTO THESES 2024” report. The then-Messari CEO argued that the network did not meet the report’s economic activity benchmark.

Unsurprisingly, Selkis’ views continue to receive pushback from the XRP and Cardano faithful.

His most recent scathing commentary on X has been rebuffed with a community note showing that just two days prior, on December 12, Cardano recorded over 280,000 transactions, representing 20% to 60% of the transactions processed by Ethereum and Bitcoin while boasting only 2% to 8% of their market cap.

Is Justin Sun Planning Another 52,905 Ethereum Dump? Here’s What We Know

Elendu Benedict
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Is Justin Sun Planning Another 52,905 Ethereum Dump? Here’s What We Know

Tron network founder, Justin Sun, may be on course for another round of Ethereum dump after applying to unlock a substantial amount of ETH on Monday.

Ethereum has shown remarkable recovery in the past week amidst a bullish uptick to the $4,000 price mark. The altcoin king had been a contrarian play for most of the year but recently gained bullish momentum.

However, a new development has raised skepticism within the Ethereum community. Just when the market was relieved from the Ethereum Foundation and co-founder Vitalik Buterin’s incessant dumps, Justin Sun might be looking to carry out his own sales.

Sun Plans Ethereum Dump

On-chain tracker Spotonchain drew the crypto community’s attention to Sun’s latest attempt to unlock his staked Ethereum. The platform confirmed that the HTX exchange advisor applied to Lido Finance to unstake 52,905 ETH.

Spotonchain buttressed that the $209 million worth of Ethereum is a portion of the 392,474 ETH that Sun allegedly acquired between February and August. Notably, the founder reportedly bought the ETH stash at an average cost of $3,027 per coin, realizing a 29% ($349 million) profit at the current market price.

Meanwhile, the recent development has sparked market observers’ curiosity about the implications of Sun’s incessant Ethereum sales. The withdrawal came a few days after Sun sent 29,920 ETH ($120 million) to HTX as Ethereum neared the $4,000 price level.

In the meantime, Ethereum has maintained bullish momentum, briefly trading above $4,000 today before a slight consolidation. The second-largest cryptocurrency by market cap trades at $3,942, up 2.2% in the past 24 hours.

Profit-Taking Sun

Notably, Ethereum is not the only crypto asset that Sun is looking to dump. Data confirms that the Tron founder is also depositing Eigen to HTX for a possible sale.

Spotonchain shows that Sun moved 198,380 EIGEN, worth $964,000, to HTX on Monday. Meanwhile, the exchange’s advisor has dumped 9.37 billion EIGEN ($37.3 million) since October 1, profiting massively from the asset’s over 100% monthly performance.

At press time, EIGEN trades at $5.13, up 10% in the past 24 hours.

Shiba Inu DEX ShibaSwap Prepares to Welcome Liquid Staking

Lele Jima
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Shiba Inu DEX ShibaSwap Prepares to Welcome Liquid Staking

The Shiba Inu decentralized exchange (DEX) ShibaSwap is gearing up for a major upgrade with the anticipated introduction of liquid staking.  

Shibarium Updates (@Shibizens), an X channel focused on Shibarium ecosystem disclosures, alerted the public to the upcoming upgrade over the weekend. 

“Liquid staking is coming to ShibaSwap,” the channel remarked, describing the upgrade as the next level of DeFi. 

According to the latest disclosure, the development was unveiled on Shiba Inu’s rebranded website. 

Liquid Staking on ShibaSwap 

Notably, the liquid staking feature will enable ShibaSwap users to stake their tokens on the DEX while retaining liquidity. Through the feature, users can earn rewards on their staked assets and still gain access to their locked assets. 

Upon staking their tokens through the liquid staking feature, users will receive liquid tokens representing their staked assets. Interestingly, users can utilize the liquid tokens for trading and as collateral on DeFi platforms. 

In the ShibaSwap case, @Shibizens disclosed that users will receive liquid Treat tokens (veTREAT) when they stake their TREAT tokens using the liquid staking feature. 

Aside from representing users’ stakes, veTREAT also grants holders governance power to control the allocation of rewards for liquidity mining. It bears mentioning that TREAT is not yet available for public use. 

Karma Point System 

Another upcoming feature from the ShibaSwap update is a Karma Point system, where users earn points by participating in certain activities. One such activity is transferring Shiba Inu ecosystem tokens, such as SHIB, BONE, LEASH, and TREAT. 

Furthermore, providing liquidity on ShibaSwap is another way to earn Karma points on the DEX. The points users earn in the Karma system help to enhance their voting power within the Shib Doggy DAO. 

It bears mentioning that the Shib Doggy DAO is not live yet. Nonetheless, the team plans to launch the decentralized autonomous organization before the end of next year, potentially allowing token holders to vote on key initiatives related to Shiba Inu.  

No Official Launch Date for Liquid Staking on ShibaSwap 

Meanwhile, the Shiba Inu ecosystem team has yet to reveal a timeline for liquid staking launch on ShibaSwap. In the meantime, users who wish to stake their tokens using the liquid staking feature can do so on K9 Finance, a Shibarium-based liquid staking and derivative platform. 

The team behind the project remains the official liquid staking partner of the Shiba Inu ecosystem. 

Since its September 18 launch on Shibarium, K9 Finance has registered 248 stakers, who have successfully staked 2,426,390 (2.42 million) BONE. At press time, K9’s liquid staking token, knBONE, has a market cap of $1.45 million. 

ShibaSwap Upgrades

ShibaSwap has welcomed significant upgrades since it launched on Ethereum in July 2021. It transitioned to Shibarium earlier this year, making the DEX a multi-chain decentralized crypto exchange. 

The migration allows users to swap their tokens between the Ethereum and Shibarium networks while enhancing SHIB burns.  

In October, the development team behind the Shiba Inu ecosystem launched the highly anticipated ShibaSwap 2.0, introducing new features like seamless migration and centralized liquidity pools. 

 

Binance (BNB) Coin Price Triangle Breakout Targets $850

Albert Brown
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Binance (BNB) Coin Price Triangle Breakout Targets $850

As the bull market regains momentum over the weekend, Binance (BNB) is preparing for a triangle breakout that could lead to a potential new all-time high.

With Bitcoin recently setting a new all-time high of $106,533, the crypto market is seeing a significant surge in buying pressure. Amid this recovery, BNB is gearing up for a potential breakout rally.

Will this breakout rally in Binance (BNB) price result in a new all-time high above $800? Let’s find out.

BNB Coin Price Analysis

The price action of the Binance coin currently exhibits a symmetrical triangle pattern. This pattern suggests market indecision but also signals the possibility of an upcoming breakout. The positive cycle within the triangle has tested the resistance trendline.

Binance Price Chart
Binance Price Chart

The BNB coin price is struggling to overcome the overhead supply, maintaining a declining trend near the resistance level. Amid the formation of a morning star pattern, BNB continues to hold above the psychological $700 mark.

Currently, the BNB coin price is trading at $712, up 0.28% over the past four hours. The bullish momentum is challenging the recently formed bearish engulfing candle.

Despite this, the BNB price remains resilient, staying above the center pivot level of $703.8. Supporting the bullish outlook, the 4-hour RSI line shows a bullish diagonal trend and is preparing for a double-bottom reversal from the halfway line.

Binance (BNB) Coin Price Targets

If a bullish breakout occurs, BNB’s price could soar above the current all-time high of $794.3. According to the pivot levels on the 4-hour chart, the immediate target for a new all-time high is the R3 resistance level at $850, indicating a potential upside of nearly 20% for BNB.

However, if the breakout fails, traders should be prepared for a retest of key support levels. Specifically, a failure to maintain dominance above the $800 mark could trigger a retest of the critical support trendline of the triangle pattern. This bearish scenario has a downside risk of 5.7%, potentially testing the $672.6 level.

As Bitcoin Rally Stalls at $106K, Could $110K Be Next?

Albert Brown
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As Bitcoin Rally Stalls at $106K, Could $110K Be Next?

After setting a new all-time high, Bitcoin is poised for a breakout rally with a target of $110K this December.

The buying pressure in Bitcoin has significantly surged overnight, pushing the price to an all-time high of $106,533. Amid this strong rally, BTC registered a notable recovery, with a 3% surge on Sunday.

As the residual momentum hints at a potential breakout from its current channel, Bitcoin finds itself at a crossroads. Will the price push beyond $110,000, or will resistance cause a pullback?

Bitcoin Price Analysis

With a streak of bullish candles in the 4-hour chart, the BTC price tests the rising channel’s resistance. The boost in trend momentum comes after the breakout of an inverted head-and-shoulder pattern. 

Bitcoin Price Chart
Bitcoin Price Chart

This breakout resulted in a massive bullish engulfing candle, driving the 24-hour high above $106,000. However, despite the surge in demand, the overhead supply led to a swift bearish reversal, delaying a full bullish breakout.

Currently, Bitcoin is trading at $104,842 after failing to close above the resistance trendline. Along with the trendline, the 38.20% Fibonacci level at $105,587 remains a critical resistance point.

Additionally, a modest 0.27% recovery over the past four hours brings Bitcoin closer to this crucial resistance. The exponential moving averages (EMAs) remain positively aligned, supporting the likelihood of a breakout rally.

Furthermore, the MACD and signal lines maintain a bullish trend, with new positive histograms indicating a continuation of upward momentum. As a result, technical indicators suggest a bullish bias for Bitcoin.

BTC Price Targets

If Bitcoin closes strongly above the 38.20% Fibonacci level on the 4-hour chart, the price will likely surge, potentially setting a new all-time high. Additionally, with the release of trapped momentum from the rising channel, the immediate target for Bitcoin is the 50% Fibonacci level at $110,375.

However, if the bulls fail to break through the crucial Fibonacci resistance, a downside risk of 2.5% could materialize. In that case, the key support trendline, combined with the 20-EMA at $102,264, could offer the next potential reversal point.

Shiba Inu Officially Issues New Warning About Shiro Neko

Lele Jima
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0
Shiba Inu Officially Issues New Warning About Shiro Neko

Susbarium, the Shiba Inu community-driven scam alert channel, issues a new warning, distancing SHIB from the newly launched cat-themed memecoin Shiro Neko (SHIRO). 

The controversy surrounding Shiba Inu’s relationship with Shiro Neko continues to gain momentum, with Susbarium adding a new twist. 

Expert Claims Shiba Inu Is Backing Shiro Neko, But Susbarium Says Otherwise  

Over the weekend, widely followed market observer Ash Crypto promoted SHIRO on X, linking Shiba Inu to the project. Ash claimed that Shiba Inu is backing the Shiro project, indicating that SHIRO has room for growth based on its market cap difference with SHIB.

The expert anticipated an upcoming bull cycle for memecoins, noting that SHIRO could emerge as one of the top beneficiaries. Despite promoting SHIRO, Ash issued a disclaimer, revealing that they have an advisory partnership with the token. 

Ash’s post elicited reactions from the broader crypto community, with Susbarium correcting a misconception about Shiba Inu’s relationship with SHIRO. 

According to Susbarium, Shiba Inu does not officially support nor back SHIRO. It suggested that even though top Shiba Inu influencers and the handler of SHIB’s official X account, @shibtoken, have promoted SHIRO, the developers of shib.io, the cryptocurrency’s website, have already distanced themselves from the cat-themed memecoin. 

SHIB Is Not an X Account 

Furthermore, the community-driven scam alert channel made clear that millions of SHIB holders do not back SHIRO. It also highlighted a distinction between the Shiba Inu project and @shibtoken, emphasizing that ‘SHIB is not an X account’. 

This suggests that information emanating from @shibtoken does not represent the views of the entire Shiba Inu ecosystem. Hence, @shibtoken’s endorsement of SHIRO or any other project does not imply that Shiba Inu backs them.  

Shiro Neko’s Controversial Relationship with Shiba Inu 

For context, the relationship between Shiba Inu and Shiro Neko has been marred with controversy. Shiro Neko made its presence known to the Shiba Inu community after it initiated a massive burn of 5.58 billion SHIB in a single transaction on October 31. Afterward, it requested to form an alliance with Shiba Inu. 

However, Susbarium warned the community to be cautious when interacting with SHIRO, advising investors to only invest in the token after conducting due diligence. 

A month later, @shibtoken promoted Shiro Neko on its account, indicating that the project has collaborated with Shiba Inu for a dual-staking initiative. 

The staking exercise, which involves staking SHIRO to earn SHIB and vice versa, went live after the token’s December 2 launch. 

Despite @shibtoken’s promotion, Shiba Inu’s leader, Shytoshi Kusama, still denied affiliations with Shiro Neko. He issued the clarification after some community members taunted him about SHIRO’s legitimacy, given Susbarium’s warning about the project. 

At press time, SHIRO is trading at $0.0000003843, with its market cap standing at $384.02 million. The token is down 56.47% from its all-time high (ATH) of $0.0000009038, registered on December 2.  

On the other hand, SHIB is priced at $0.00002754. It is ranked as the 14th biggest cryptocurrency on CoinMarketCap and is valued at $16.23 billion. 

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