Digest of Cryptocurrency News by Ailtra

Hey there, let’s dive into the latest top three news stories from the wonderful world of cryptocurrencies brought to you by Ailtra.

Discover the Truth Behind Peter Schiff’s “Bitcoin is dead” Claim, According to Peter Brandt

After Bitcoin’s recent surge of 9.3% to $67,000, Peter Schiff, a well-known economist with a skeptical outlook on crypto, took to X platform to express doubts about the significance of BTC’s recovery. Schiff pointed out that while silver saw an increase of over 21% since early April, Bitcoin only managed a mere 2% growth during the same period. Labeling Bitcoin as a failed investment, Schiff boldly declared it to be “dead,” suggesting that silver offers better returns. Veteran trader Peter Brandt was quick to dismiss Schiff’s comments, arguing that such statements are merely a ploy for attention and followers rather than a true understanding of the situation. Brandt believes that Schiff, despite his critiques, does recognize the value of crypto but prefers to stick with silver due to personal biases. In response, Schiff defended his viewpoint on BTC, likening betting on Bitcoin to betting on an “imaginary horse” and warning investors of potential significant losses.


A Half Trillion Shiba Inu (SHIB) in 24 hours: What’s Going on with Shiba Inu (SHIB)?

Recent on-chain data has revealed a surge in activity for Shiba Inu over the past 24 hours, with various entities like crypto exchanges and whales actively moving their SHIB holdings. Notable transactions include the transfer of 45.01 billion SHIB, valued at $1.13 million, from one Robinhood hot wallet to another. Additionally, Symbolic Capital Partners MEV Bot conducted several transactions, each involving around 50 billion SHIB, with values ranging from $1.23 million to $1.26 million per transaction. Uniswap also experienced a spike in volume, with transactions of 50.8 billion SHIB ($1.26 million) and 50.4 billion SHIB ($1.23 million) recorded. The increased activity, along with a rise in whale transactions, could signify a major price shift or an imminent breakout on the horizon. At the time of writing, SHIB is trading at $0.00002394, showing a 0.95% decline over the past 24 hours, according to CoinMarketCap.


Mysterious 7,000 ETH Transfer to Robinhood Coincides with Ethereum Surpassing $3,000

On May 17, an unknown wallet moved 7,000 ETH, equivalent to $21,630,557, to Robinhood, as Ethereum crossed the $3,000 mark, reaching a new milestone. Speculation abounds regarding the reasons behind this significant transaction and its potential impact on the market. Some believe it could be a precursor to a major market shift as investors position themselves ahead of the Ethereum ETF decision. Another theory suggests that a whale or large holder might be utilizing Robinhood for trading or custodial purposes, as tokens are often moved to exchanges for selling. It’s also possible that the transfer aims to boost liquidity on Robinhood’s platform. However, the true motive behind the move remains shrouded in mystery. At the time of reporting, Ethereum is priced at $3,087, showing a modest 0.38% increase over the past 24 hours, as per CoinMarketCap.

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