SHIB Drops Following $2.3B In Transfers By Whale – November 4

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $61,755

Bitcoin price has fallen back into the $61,000s. following yesterday’s brief revisit of the $63,000 mark.

Top-20 altcoins have also mostly fallen, as Ethereum drops 2%, Cardano falls 5% and Shiba Inu tumbles 14%.

Top Stories for November 4, 2021 πŸ”₯

πŸ‘‰ SHIB Drops Following $2.3B In Transfers By Whale

Shiba Inu (SHIB) price has fallen significantly after a single entity made four transactions in the token totalling a whopping $2.3 billion.

The SHIB “whale” sent four transactions of more than 10 trillion SHIB to separate wallets, each transaction worth $586 million at market prices.

Social media users had speculated that the owner of the wallet had lost access to its private keys, after turning an initial $3,400 purchase into $1.55 billion.

πŸ‘‰ Coinbase Now Allowing Users To Borrow Up To $1M Against BTC Holdings

Publicly traded crypto exchange Coinbase now enables customers to borrow up to $1 million in fiat currency against their Bitcoin holdings.

Users can take out up to 40% of their Bitcoin’s value, with an annual percentage rate of 8%, with no credit checks required. The cash can be obtained using PayPal or a regular bank account.

πŸ‘‰ SEC Looks For Comments On Grayscale ETF Proposal

The Securities and Exchange Commission (SEC) is seeking public comments on Grayscale’s ETF proposal, which would turn its GBTC fund into an exchange-traded fund.

Grayscale’s proposal was filed on October 19, with a decision possible as early as Christmas Eve. SEC extensions on Bitcoin product applications, however, are common.