DOGE and XRP Tumble as Bitcoin ETFs Witness $80M Outflow, Shaking Crypto Markets

DOGE, XRP Lead Crypto Majors Decline as Bitcoin ETFs Bleed $80M

According to Yahoo Finance, the cryptocurrency market has been experiencing significant turbulence. Dogecoin (DOGE) and Ripple's XRP have led a decline among major cryptocurrencies amid substantial outflows from Bitcoin exchange-traded funds (ETFs). The report highlights that these ETFs saw an outflow of approximately $79 million recently, contributing to the downward pressure on crypto prices.

Cryptocurrency Prices Today: BTC Holds $67K, BEAM & POPCAT Surge 6%

CoinGape reports mixed movements in the cryptocurrency markets today with Bitcoin maintaining its position around the $67K mark despite broader bearish trends. Meanwhile, altcoins like BEAM and POPCAT defied this trend by surging over 6%. This comes amidst a general dip in global crypto market cap which fell by nearly 1% to stand at $2.31 trillion.

Ripple Co-Founder Chris Larsen Misses Key Deadline; XRP Slips Nearly 3%

An article from FXStreet reveals that Ripple co-founder Chris Larsen missed a crucial deadline related to his legal proceedings against the SEC. As a result of this oversight, there is speculation about potential negative impacts on Ripple’s defense strategy. Consequently, XRP experienced a near-3% drop in value early Wednesday morning.

Bitcoin Approaches All Time High Amidst Trump Election Speculations

A Forbes analysis discusses how Bitcoin is nearing its all-time high price levels while speculating on possible outcomes if Donald Trump wins another term as U.S President. Trump's administration could potentially bring regulatory changes favorable for cryptocurrencies such as Bitcoin due to their expressed support within his circle including Robert F. Kennedy Jr., Eric Trump, and Don Jr.

Ethereum Sees Sharp Drop In Transaction Fees - A Mass Adoption Incoming?

The latest insights from Bitcoinist highlight Ethereum's recent reduction in transaction fees, which may pave the way for increased adoption across decentralized applications (dApps) and DeFi protocols. Lower costs remove barriers previously faced by users engaging with network services frequently hindered by historically higher expenses associated with transactions. This development could positively impact overall ecosystem growth prospects significantly.

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Article Summary

The cryptocurrency market is experiencing turbulence with DOGE and XRP leading declines due to significant outflows from Bitcoin ETFs, while altcoins like BEAM and POPCAT surge despite a general dip in the global crypto market cap. Ripple's co-founder missing a legal deadline has led to further drops in XRP value, whereas Ethereum sees reduced transaction fees potentially boosting adoption.