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$213 million Bitcoin (BTC) dump stuns largest U.S. crypto exchange

Bitcoin may face challenges in maintaining its bullish trend due to increased selling pressure from whales. The community is optimistic for gains in October, often called “Uptober.” Recently, Whale Alert reported a transaction where a BTC whale moved 3,333 BTC (worth about $213 million) to Coinbase (NASDAQ:COIN). This transfer suggests the whale intends to sell the coins for profit as Bitcoin remains higher than previous months. While profit-taking is common, such large transactions may induce short-term market pressure, but they do not indicate a negative overall market outlook.

Shiba Inu (SHIB) sees 360% whale activity surge: Details

Shiba Inu has experienced a 360% increase in whale activity, making it one of the most traded cryptos among large investors. This surge could hint at a potential price recovery, given that whales often influence market dynamics in smaller assets like SHIB. With whale actions suggesting a possible move toward $0.00002, investors should remain cautious due to SHIB’s volatility. Currently, SHIB trades at $0.00001665, reflecting a 1.09% decline over the last 24 hours, according to CoinMarketCap.

Ripple Labs taps major license in Dubai

Ripple is expanding its global presence by securing a significant operating license in Dubai. According to a press release dated Oct. 1, Ripple received in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its services from the Dubai International Financial Centre (DIFC). This license will enhance Ripple’s payments network in the Middle East and provide services to regional clients, aiding in cross-border payment solutions while demonstrating regulatory compliance. This comes after Ripple’s long-standing battle with the U.S. SEC over compliance issues.

This article was originally published on U.Today