Crypto News Digest: XRP ETF Rumours, Massive SHIB Hack, and Bitcoin Predictions

Bloomberg’s James Seyffart debunks XRP ETF launch date rumours, the hackers swap 150 billion SHIB tokens raising concerns, and Presto predicts Bitcoin could hit $210,000 by 2025 amid strong institutional demand.

In the latest crypto news, three major stories have captured attention recently, ranging from ETF debunking to alarming hacker activity and Bitcoin’s bullish predictions. Here’s a closer look at what’s been happening in the digital currency sphere.

First off, Bloomberg’s analyst James Seyffart has dashed hopes regarding the anticipated launch of ProShares’s futures-based XRP ETFs. He took to the X platform to clarify that these ETFs will definitely not be launching on April 30 as some had assumed. The confusion seems to stem from an outdated regulatory filing from mid-April that some outlets misinterpreted as a sign of imminent launch. Seyffart stated, “We don’t have a confirmed launch date yet but we believe they will launch — and likely launch in the short or possibly medium term.” So, for now, XRP ETF fans will have to hold off on their excitement.

In another twist, the PeckShield blockchain security firm has revealed that hackers recently engaged in a massive swap of approximately 150 billion Shiba Inu (SHIB) tokens, plus 756 million Holochain (HOT) tokens, trading them for around 1,500 Ethereum (ETH). What’s particularly concerning is that after the exchange, a large portion (1,050 ETH) was sent to TornadoCash, known for obscuring transaction histories. Presently, the hackers possess 5,111 ETH and about 16 million DAI, equating to nearly $25.5 million. The hacking event traces back to a cyberattack on Bitrue this year, which incurred losses around $23 million. This trade’s sheer volume could impact SHIB’s price and lead to further market instability, making it crucial for investors to monitor the situation closely.

Lastly, on a more positive note, Bitcoin seems to be on a bullish trajectory. Peter Chung, head of research at Presto, reiterated in a recent “Squawk Box Asia” interview on CNBC that Bitcoin’s price target is peaking at $210,000 by 2025, driven primarily by institutional demand and improved global liquidity. Currently, Bitcoin is priced at about $95,098, making a comeback to the $95,000 mark following significant ETF inflows noted just last week. Bitwise CEO Hunter Horsley remarked that this recovery is largely steeped in the activity of institutional investors, with everyday traders appearing to be more cautious. Chung even referred to the recent market correction as “healthy,” suggesting Bitcoin’s stability resembles gold amidst the ongoing macroeconomic challenges.

So, there you have it – from clarified ETF launches to shadowy hacker dealings and optimistic Bitcoin forecasts, these unfolding stories offer a vivid snapshot of the current crypto landscape right now. Investors and enthusiasts alike are advised to stay informed as things can shift rapidly in this volatile market.