SHIBA INU Rises 17% Whereas Bitcoin, Ethereum and Dogecoin Slip

The crypto sector witnessed some of the largest cryptocurrencies, Bitcoin, Ethereum, and Dogecoin slip, whereas SHIBA INU surges 17%.

Bitcoin prices fell below $61,000, with the world’s crypto giant by market capitalization trading at $60,935, down more than 3%. The biggest cryptocurrency has gained 109% year-to-date and previously reached new all-time highs. 

This happened also to Ether, the second-biggest crypto and the unit connected to ETH blockchain, which fell over 1% to $4,158.

Dogecoin prices dropped more than 2% to $0.25 while Cardano prices were slightly lower at $2.15. 

Over the previous 24 hours, other digital assets such as Binance Coin, XRP, Uniswap, Litecoin, and Solana have been mixed.

SHIBA INU, on the other hand, was up almost 17 percent to $0.00004843, as reported by CoinGecko.

The first Bitcoin ETF, also known as ProShares Bitcoin ETF (BITO), was launched in the US and began trading what resulted in crypto funds receiving inflows of $1.47 billion last week, the highest on record, as reported by CoinShares. 

Last week, Bitcoin received 99% of all inflows, totaling $1.45 billion. Moreover, last year’s record of $6.7 billion is now surpassed by this year’s inflows at $8 billion. 

For the third week in a row, Ethereum witnessed $1.4 million in outflows. As the price approaches an all-time high, this is little profit-taking, according to the digital asset manager, CoinShares. 

In other developments, Robinhood Markets’ stock dipped below its initial public offering price in after-hours trading on Tuesday. This happened after the retail broker announced lower-than-expected third-quarter revenue as trading volumes for cryptocurrencies such as Dogecoin decreased.

Bitcoin surged to a new high of $66,974 last week, following a six-month decline from its previous high of $64,895. The recent rally resulted from the launch of the ProShares Bitcoin Strategy ETF.

Also Read: Shiba Inu Price Prediction October 2021: Will SHIB Reach A New All-Time High?