As another week concludes, the crypto community witnessed significant changes in the landscape. Leading the pack, Cathie Wood’s Ark Invest made a bold move, offloading a substantial portion of its Coinbase Global Inc (NASDAQ:COIN) shares amid a cooling crypto rally. Meanwhile, Bitcoin is facing a possible downturn, according to a crypto analyst.
On the brighter side, meme token BONK (CRYPTO: BONK), a Dogecoin rival, recorded a steep increase in trading volume, while the supply of the self-proclaimed ‘Dogecoin killer,’ Shiba Inu (CRYPTO: SHIB), dwindled on exchanges, potentially laying the groundwork for gains. Let’s delve deeper into these developments.
Ark Invest Sells Off Coinbase Shares Amid Crypto Slowdown
Earlier this week, Cathie Wood-led Ark Invest made headlines by selling 82,255 Coinbase shares, valued at approximately $11.48 million. The decision came in the wake of a downturn in the crypto market, prompting a strategic pivot in Ark Invest’s portfolio. Notably, the shares were sold through ARK Innovation ETF ARKK, ARK Next Generation Internet ETF ARKW, and Ark Fintech Innovation ETF ARKF. Read the full article here.
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