Analysis News Today TheBitTimes.com

BlackRock’s spot Bitcoin ETF continued to attract heavy investor demand even as the cryptocurrency market plunged. Data from October 6 to October 10 shows that the firm’s iShares Bitcoin Trust (IBIT) logged five straight days of inflows totaling roughly $2.63 billion, according to the latest on-chain data retrieved by Finbold from Coinglass on October 12. According to ETF inflow data, IBIT recorded $970 million on October 6, $899.4 million on October 7, $426.2 million on October 8, $255.5 million on October 9, and $74.2 million on October 10. U.S. spot Bitcoin inflow chart. Source: Coinglass The consistent inflows made IBIT the clear standout among U.S. spot Bitcoin ETFs, while several peers such as GBTC and FBTC saw redemptions on multiple days. The buying spree came amid a sharp market downturn that wiped out hundreds of billions in crypto value.  Notably, Bitcoin briefly dipped below $110,000 as panic selling swept through leveraged positions, trigge...

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Shibarium’s network activity has soared by 54% this month making investors believe that massive burns are on the cards soon. The dog-themed token is currently hovering around the $0.00001325 mark and is mostly trading sideways this year. Shiba Inu has a circulating supply of 589 trillion SHIB tokens and the majority needs to be removed from circulation to make its price sustainably scale up in the indices. Also Read: How Much of the World’s Population Owns Shiba Inu (SHIB)? SHIB: Burning 20 Trillion Shiba Inu Tokens a Year Can Make Its Price Reach $0.001? Source: Pixabay Technically, yes. Burning 20 trillion tokens a year can make Shiba Inu reach the $0.001 mark someday. Theoretically, no. Sending that many tokens a year can be challenging as even Shibarium is not capable of handling that much capacity. Here’s a breakdown of whether yearly burns of 10 trillion SHIB could drive the price to $0.001. The Hypothesis: 20 Trillion Tokens Burned Per Year Current total supply of SHI...