Blackrock Spot Bitcoin ETF Makes Record With 12,000 BTC Inflows, DOGE Bleeds Market Share to Viral DeFi Crypto 

Despite the downturn in the broader market, Blackrock is continuing to buy BTC at a record pace. On the other hand, DOGE is dumping as traders switch to utility tokens.

While retail traders have been panic dumping their BTC in the previous week, institutions like Blackrock are continuing to acquire Bitcoin at historic rates. The IBIT Spot Bitcoin ETF made history with an acquisition of over 12,000 BTC on 31 October. This supposed Over-the-Counter (OTC) trade has been a signal of growing Wall Street interest in the decentralized sector. On the other hand, a new viral DeFi platform is attracting large inflows from Dogecoin (DOGE) holders.

Blackrock Hoards BTC Supply With Over $870 Million Inflows 

Financial giant Blackrock is continuing to aggressively acquire BTC through the IBIT Spot Bitcoin ETF. In the latest update, IBIT inflows showed over $870 million in single-day inflows on 31st October 2024. This record-breaking development could signal a potential supply squeeze building for BTC on exchange – a development that could lead to a price surge above $100,000.

Since its launch on January 5, the Spot Bitcoin ETFs have cumulatively become the 2nd largest holder of BTC after Satoshi Nakamoto. This demand has pushed Bitcoin price above $70,000 and experts now think that BTC could be set to hit new highs later this year.

DTX Exchange Attracts $1.3 Million in 24 Hours From DOGE Wallets 

Unified trading platform DTX Experience is seeing a major increase in demand as Dogecoin (DOGE) traders are aggressively buying the ongoing presale. The early presale round allows traders to become part of the DTX Exchange platform at a massive 80% discount from the listing price.

DTX Exchange (DTX) is the first unified trading platform that features stocks, cryptos, ETFs, and forex under the same umbrella. This saves users from the hassle of having to switch between different applications for asset management. The platform has been comprehensively audited by security firm SolidProof and is expected to receive regulatory clarity in over 40 regions.

It is not surprising to see why DTX is in such massive demand from Dogecoin investors. The platform is the first retail trading option that offers No-KYC trading for over 100,000 financial instruments with up to 1000x leverage. Additionally, users can use the latest Phoenix Wallet to self-custody assets without requiring centralized oversight.

Thanks to these innovative features, along with profit shares and priority feature roll-out for presale community members, DTX is currently the fastest-growing altcoin in the market. The DTX token is selling-out fast at $0.08 in the 4th round with over 60% of the supply already bought by enthusiastic traders. Considering the listing price of $0.20, early backers are set to make a minimum gain of over 120%, making DTX a no-brainer choice in the market.

Dogecoin (DOGE): Traders Continue to Switch From Memecoins 

While memecoins attracted massive hype through the first three quarters of this year, the trend is now switching back towards utility coins. Dogecoin (DOGE) is suffering from this sentiment shift, with a daily decline of over 1.63%.

Source: TradingView

DOGE is currently trading at $0.165, down over 77.5% from its all-time high of $0.73 in 2021. While this steep decline has seen a minor recovery on the monthly charts, DOGE still needs to break past critical resistance at $0.20 to push towards a bullish rally. Analysis of Dogecoin wallets shows a major shift towards DTX Exchange as traders attempt to recapture exponential growth similar to the memecoin in 2021.

Conclusion 

With Spot Bitcoin ETFs like IBIT seeing historic inflows, altcoins could be set for a historic rally. However, to make the most gains, it is essential to position yourself in the right altcoins. DOGE whales are switching to DTX Exchange for the platform’s attractive entry price and utility features. However, given the current demand, supply could run out fast. If you’re keen to become an early adopter, make sure you check out the DTX platform.

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