Crypto Circus: XRP Shrinks, Shiba Explodes & the SEC Grants Craigslist for Crypto

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SEC Gives Crypto Folks a Goodie Bag: In-Kind Redemptions for Bitcoin & Ethereum ETFs

Well, folks, the SEC finally decided to stop playing hide and seek and approved in-kind redemptions for Bitcoin and Ethereum ETFs. That’s fancy talk for you can now exchange real crypto for ETF shares, instead of just throwing dollar bills in the kids’ lemonade stand. 🎩💸

  • What’s the big deal?: Now you can create and redeem ETF shares using actual crypto—no more cash, no more fuss.

This here change makes crypto folks breathe a little easier—less fiddling with cash, more about the real stuff under the hood. The industry has been pining for this day, dreaming of efficiency and lower costs, like a boy dreams of his first bicycle.

Coinbase Tosses 40% of XRP into the Wind (Well, into Cold Storage, Anyway)

Now, hold your horses—why did Coinbase, that grand US exchange, suddenly yank almost half of its XRP hoard? Rumor has it, they went on a bit of a diet, slimming down their cold storage from 52 wallets to just 35. That’s a lot of XRP shrinking faster than my Uncle Silas’ beard after a week in the wilderness.

  • Big change on the ledger: From roughly 970 million XRP down to whatever remains—somewhere around 58 million short of a million, by the looks of it.

Real-time watchers are keeping a hawk’s eye on this, tracking every ripple and wave of XRP being sent around. Back in June, wallets held millions of XRP each. Come July, most of that has evaporated or been sent flying like a flock of startled chickens, including a hefty 16.8 million XRP move from a wallet called “Cold Wallet 400” to a hot one—hot meaning it’s ready for action, not just sitting around.

Shiba Inu (SHIB) Goes Nuts: Outflows Skyrocket 8,866%

And now for the most astonishing bit: Shiba Inu, that meme coin with more attitude than a street preacher, suddenly saw whale activities spike like a fireworks display. Only instead of light and sound, it was just big wallets draining out a mountain of SHIB—an increase of a staggering 8,866% in a single day! 💥🎆

  • What’s really happening?: On July 27, only about 9.27 billion SHIB slipped out of the biggest wallets, but by July 28, that number ballooned to 798.22 billion. That’s enough tokens to make a cat chase its tail for a hundred years.

What’s curious is that the price of SHIB didn’t budge an inch, hangin’ around $0.000013 to $0.000014 like a cow in the shade. The large outflows—whales and exchanges pulling their tokens—suggest only one thing: the big fish are moving their loot, possibly to hide or bank some profit, while the little fish are just staring confused at the waves.

  • Who are these “big” wallet owners?: According to wise folks at IntoTheBlock, they include Coinbase, Binance, Robinhood, and Upbit. That’s right—big exchanges and the whales behind them—sometimes folks wonder if these big wallets are just giant treasure chests stored in a warehouse or if it’s all a game of hide and seek.

So, it ain’t panic sellin’, just a bunch of whales shuffling their fish around—probably planning a bigger sneeze for the markets someday soon. Or maybe just cleaning house.

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2025-07-31 01:03