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SEC Greenlights Two Crypto ETFs, Samson Mow Warns About Bitcoin Supply Shock Ahead, 200 Million Dogecoin Stun Binance in Major Move: Crypto News Digest
In the latest developments from the crypto sphere, the Securities and Exchange Commission (SEC) has given the green light to two new cryptocurrency exchange-traded funds (ETFs). This news comes as a significant boost for the industry, providing investors with more options to access digital assets.
However, amidst this positive development, Samson Mow, co-founder of Moonpay, has issued a warning regarding Bitcoin’s supply. According to Mow, there is a potential shortage in supply that could have catastrophic consequences on the market. With this alarming prediction, it remains to be seen how the crypto community will react.
On a different note, a massive 200 million Dogecoin (DOGE) transfer has taken place on Binance, sparking curiosity and speculation among traders. Such large transactions can indicate various intentions, including potential trading or selling activities. Although the specific reason for this move remains unclear, it may be related to preparations for liquidity provision.
Earlier in the week, Dogecoin dropped below its 50-day simple moving average (SMA) at $0.36 and fell as low as $0.262 before rebounding significantly. At press time, DOGE is trading at $0.309, down by approximately 0.56% over the past day, with a 23% decline since last week.
If this downward trend continues, Dogecoin could potentially plummet to $0.23 or lower.
Source: u.today
