Upexi Treasury raises $23M to expand SOL holdings

The Dogecoin ETF has had a disappointing launch, failing to meet market expectations and underperforming compared to the XRP and Solana ETFs, which have seen significant inflows. The Dogecoin ETF only managed to generate $1.41 million in trading volume on its debut day, raising concerns about its attractiveness to investors.

Crypto exchange-traded funds (ETFs) have seen a significant rebound with combined inflows of $260 million, indicating a renewed interest among investors in cryptocurrency products. This resurgence follows a period of substantial outflows, particularly for Bitcoin and Ether ETFs, which faced billions in redemptions.

Institutional investors have recently shifted their focus from Bitcoin, Ethereum, and Solana to XRP, resulting in significant outflows from the former and inflows into the latter. A CoinShares report highlighted that Bitcoin, Ethereum, and Solana experienced outflows totaling $1.27 billion, $589 million, and $156 million respectively, while XRP saw a notable increase in investments.

Tether has responded to S&P Global Ratings' downgrade of its stablecoin USDT to the lowest score, emphasizing its substantial assets, including $135 billion in Treasuries and $13 billion in profit, as well as its critical role in global payments.

Conor McGregor has publicly accused Khabib Nurmagomedov of deceiving fans through a $4.4 million NFT sale, igniting a controversy that underscores the ethical dilemmas associated with digital asset transactions in the sports industry. This accusation reflects ongoing tensions between prominent sports figures over the legitimacy of their ventures in the cryptocurrency space.

S&P Global has downgraded Tether's stability rating for its USDT stablecoin to the lowest level, citing concerns over reserve exposure and governance issues. This downgrade reflects growing apprehensions regarding Tether's financial practices and asset management, particularly in light of its increasing vulnerability to market fluctuations, especially in Bitcoin prices.

Tom Lee, co-founder of Fundstrat, has identified $2,500 as a critical exhaustion point for Ethereum sellers, suggesting that a dip to this level could present a significant buying opportunity. This prediction comes amid a broader market correction that has affected various cryptocurrencies, including Ethereum, which has seen fluctuations in its price recently.

PayPal has launched a Bitcoin raffle for US users, offering weekly prizes of up to $100,000 through purchases or mail-in entries until December. This initiative aims to engage users in the cryptocurrency space and promote the use of Bitcoin within its platform.