BitMine acquires $70M worth of Ether for treasury: on-chain data

Ripio, a cryptocurrency exchange, has announced the establishment of a $100 million crypto treasury, making it the second largest in Latin America. The treasury includes holdings in bitcoin and ether, which have been managed through trading and hedging strategies since 2017.

Solana has experienced a significant inflow of $55 million, coinciding with a positive shift in Bitcoin ETFs, which have broken a losing streak. This surge in investment reflects growing confidence in Solana amidst a challenging cryptocurrency market, where Bitcoin and Ether have faced substantial outflows. The recent developments indicate a potential shift in investor sentiment towards alternative cryptocurrencies.

The Fusaka Upgrade represents a significant strategic shift for Ethereum, aligning its protocol development with economic objectives and enhancing the value proposition for ether. This upgrade is expected to strengthen the overall ecosystem and attract more institutional interest.

Spot SOL exchange-traded funds (ETFs) have continued their inflow streak since launching on October 28, marking the second-largest inflows for November. In contrast, Bitcoin and Ether ETFs have faced significant outflows, totaling hundreds of millions of dollars during the same period.

The SEC is advancing Bitwise's cryptocurrency ETF proposal, which includes XRP and Solana as key components. This move reflects a growing acceptance of cryptocurrencies in traditional finance, as the SEC's approval could pave the way for more institutional investment in these digital assets. The positive sentiment surrounding XRP and Solana indicates their resilience in a fluctuating market.