What Happened Today: XRP Hit Coinbase, Citadel Is Entering The World of Crypto, & More

Yesterday, the Whale Alert Transaction tracker noticed a huge XRP transfer carrying a total of 29,532,534 tokens. The overall valuation of these tokens is close to $75.38 million. The transaction eventually landed on Coinbase, a major US-based crypto exchange. However, the origin of the transaction is unknown, as it was done via an unknown wallet named r9ZMd. 

Such a huge movement of funds generally indicates a potential sell-off. Some suggest that this is a possible cashout movement. However, some other sources suggest that this is a routine transfer done by Coinbase and not part of any trades. Even though there is limited detail about the transaction, transactions like this can change the landscape completely. 

64 Million USD Hedge Fund 

In other news, reports shared by Bloomberg suggest that Citadel Securities, a hedge fund holding $65 million in assets, is looking to enter the crypto industry. Sources suggest that the firm is looking to become a market maker for exchanges like Coinbase.  As a result, the company is all set to test the waters outside of the USA.  

James Lavish, a popular hedge fund manager took to the X to confirm the news. Lavish wrote, “With over $60 billion of assets and one of the 10 largest hedge funds in the world, Citadel is now looking to make markets in Bitcoin and crypto. Do not let the noise drown out the signal. This is signal.” Therefore, this move could change the very landscape of crypto.  

Some More News 

On the other hand, SHIB is standing at a crucial precipice as its price has fallen below $0.000015 for the first time since 2024. This decline has put significant selling pressure on the coin. As a result, the token is not showing any significant bullish movement. Historically speaking, the $0.000015 stage generally works like a price floor. Therefore, XHIB falling beneath this level has raised some concerns among investors.  

Regardless of price movement in the past few days, SHIB has not shown any real momentum. In fact. Technica details also suggest that SHIB is on a downward trend with no sign of slowing down. This reveals the volatile nature of the coin and how it can get affected as people lose their interest.