Here are today’s top crypto headlines from U.Today!

Ripple locks 700 million XRP tokens in escrow

First up: Ripple has just secured 700 million XRP in escrow, according to a report from Whale Alert on April 2. This move is part of Ripple’s established program, where they usually release one billion XRP each month to maintain a predictable supply. These released XRP tokens are used for various operations, including institutional sales and covering expenses. Notably, Ripple often returns a portion of these tokens to escrow. For instance, last month on March 1, they put back 700 million XRP into escrow, although that was done without the usual billion-token release. These new 700 million tokens were created from XRP already in Ripple’s possession. As XRP analyst Leonidas Hadjiloizou explained, “Ripple used some of its current XRP holdings to create escrows… Ripple holds a few billion XRP not in escrow.”

SHIB burns skyrocket 12,278% — What’s happening?

Next, let’s talk Shiba Inu! The SHIB community is turning up the heat with token burns. Data from Shibburn, a blockchain tracker, reveals an incredible five-digit surge in the Shiba Inu burn rate over the last 24 hours. We’re talking a whopping 12,278.89% increase! This massive jump is thanks to over 115 million SHIB being removed from circulation. This burn activity included five transactions in total, with two particularly large burns of 92,644,446 SHIB and 20,250,401 SHIB each. This burn surge also coincides with Shibarium, Shiba Inu’s layer-2 solution, hitting over one billion transactions – a truly impressive milestone! Since 2021, the SHIB community has collectively burned a staggering 410,747,625,781,618 SHIB, leaving approximately 584,365,723,302,499 SHIB still circulating. As of writing, SHIB is trading at $0.00001206, which is down 3.08% according to CoinMarketCap.

$94 million Bitcoin (BTC) mystery stuns major U.S. exchange

Finally, our top story: A $94 million Bitcoin move just raised eyebrows at a major U.S. exchange! The ever-watchful Whale Alert, a top transaction tracker, has registered a sudden Bitcoin transfer from a wallet initially flagged as “unknown” to Coinbase, the largest crypto exchange in the U.S. This transfer involved a hefty 1,097 BTC, equivalent to $94 million. However, the mystery quickly unraveled thanks to Arkham Intelligence, which identified the sending wallet as belonging to ARK Invest, specifically tied to their Bitcoin ETF, ARKB. This revelation shifts the perspective entirely, especially considering Bitcoin ETFs have been experiencing significant outflows, totaling $145.58 million in the past 24 hours. These ETF outflows mean holders are selling, prompting issuers to liquidate their BTC reserves. Therefore, ARK Invest’s transfer of Bitcoin to Coinbase likely reflects this ongoing selling pressure affecting ARKB. Strengthening this theory, data from Lookonchain indicates that ARKB itself experienced outflows of 1,027 BTC during the same period.