Recovery may be on the horizon as a whale accumulates millions of dollars worth of Shiba Inu and Pepecoin.
The recent market downturn drew skepticism among market participants as Bitcoin and altcoins have failed to live up to the October hype. For instance, Shiba Inu is almost 18% away from its $0.00002169 high late last month.
Meanwhile, a whale has looked past the short-term FUD in the market, accumulating a massive amount of Shiba Inu and Pepecoin. Data from blockchain analytics firm Lookonchain shows that a wallet withdrew 83.36 billion SHIB and 101.8 billion PEPE from Binance.

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In a remarkable turn of events, the political campaign of Kamala Harris has received over 1 million XRP as donations.
This development came to light on Friday and has been confirmed by CNBC and FOX Business News. The substantial donation in XRP tokens, which will finance the reelection of an administration that has faced criticism from crypto holders—particularly XRP investors—has raised significant eyebrows in the crypto community.
Ironically, the donation came from Chris Larsen, co-founder and chairman of Ripple, according to new FEC filings. The filing revealed that Larsen contributed $1 million in XRP tokens to a prominent super PAC backing Kamala Harris. Specifically, he donated 1,754,815.29 XRP to Future Forward USA to support Harris’ campaign. It is worth noting that the donation was received in August, but documentation of this action only became public yesterday. The receipt indicated that the donated XRP tokens were not liquidated but retained in their original form when Larsen made the payment.

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Shiba Inu lead Shytoshi Kusama reacts to an NFT commercial from automobile manufacturer DeLorean featuring a Shiba Inu.
The crypto scene and pop culture recently collided in a unique way, as “Back to the Future” star Christopher Lloyd appeared in a DeLorean NFT commercial that also featured a Shiba Inu dog. This cameo didn’t go unnoticed by Shytoshi Kusama, the Shiba Inu lead developer, who took to X to express his excitement.

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The long-awaited October breakout for Bitcoin has stalled as long liquidations hit a 28-month high, with whales selling 24.1K BTC at a loss.
Bitcoin’s highly anticipated gains for October have failed to materialize, leaving market participants disappointed. Despite starting the business week on a strong note, briefly surpassing $64,400, Bitcoin’s upward momentum proved to be short-lived.
The asset soon began to retreat, with its price falling to $62,000 by midweek. As the decline intensified, Bitcoin plummeted to $60,400 on Thursday, reaching a multi-week low of $58,800 later that day.

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Bitcoin and Ethereum are on the verge of witnessing significant options expiries amid weak market conditions.
Specifically, on October 11, approximately 18,000 Bitcoin options are set to expire, with a put-call ratio of 0.91. The max pain point for Bitcoin is $62,000, while the total notional value of the options expiring reaches $1.1 billion.
Simultaneously, Ethereum faces the expiry of 212,000 options, with a put-call ratio of 0.4 and a max pain point of $2,450. The notional value of these Ethereum options is $510 million. The impending expiry occurs during a period of overall market weakness. Bitcoin is trading close to the crucial $60,000 level, a price that has become increasingly contested. Ethereum is also hovering near its long-term support line of $2,300.
These levels are drawing attention from traders and analysts as the market seeks to find its next direction. With both Bitcoin and Ethereum in a critical phase, the potential for a market shift is becoming more pronounced.

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Michael Saylor, the founder of MicroStrategy, has revealed what the business intelligence firm aims to achieve with its incessant Bitcoin purchases.
According to a Friday client note from brokerage firm Bernstein, MicroStrategy intends to ultimately become a Bitcoin bank. Bernstein’s digital asset lead, Gautam Chhugani, cited an interview with Saylor in the recent disclosure.
Michael Saylor has incessantly asserted that Bitcoin is a superior asset and the best in the 21st century. He often describes the largest cryptocurrency by market cap as a store of value and a proper hedge against inflation. Notably, MicroStrategy’s Bitcoin strategy has become a template most companies adopt. The software firm adopted the premier asset as its primary treasury reserve in 2020 and has acquired 252,220 BTC at the time of writing. The Friday release has finally revealed Saylor and MicroStrategy’s broader picture in its ploy to purchase as much Bitcoin as it possibly can.

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Bitcoin whales procure more than $90 billion worth of BTC tokens over a six-month period despite the range-bound movements in the market.

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Ripple CEO Brad Garlinghouse expresses frustration over the SEC’s stringent crypto regulatory approach after the agency sued Cumberland for operating as an unregistered securities dealer. 
In an X post yesterday, the Ripple CEO called the public’s attention to fresh comments from SEC commissioner Mark Uyeda, who criticized the agency’s approach to the crypto industry as a disaster. 

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With less than 26 days until the U.S. presidential election, the likelihood of Donald Trump emerging victorious is surging, leaving Kamala Harris behind, according to a widely followed prediction poll.
According to Polymarket, the leading decentralized prediction market, Trump’s chances of winning the 2024 election are now at 56%. This figure marks a 2.1% uptick in the last 24 hours.

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Crypto derivatives exchange Bitnomial has sued the US SEC, claiming it has overreached its jurisdiction with the latest attempt to prevent the listing and trading of XRP futures.
According to the filing, Bitnomial claimed that XRP futures were a contract under the jurisdiction of the Commodities Futures Trading Commission. However, the US SEC claims that the futures product is a securities product and requires joint approval from it and the CFTC.
Bitnomial stated in the lawsuit that the SEC argued that listing the XRP futures contract violated federal securities law. The SEC also required that it meet certain requirements before listing, including registering as a securities exchange. For context, Bitnomial revealed it filed for an XRP US Dollars Futures product with the CFTC in August after a court ruled that XRP was not a security. As a result, offering a futures contract tied to the XRPL native token does not constitute an investment contract.

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