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400 Million XRP Unlocked From Escrow, XRP Reacts Unexpectedly. A whale transaction involving 400 million XRP, worth approximately $213.9 million, was unlocked from an escrow wallet. According to Whale Alert, the 400 million processed on the Ripple blockchain is between two unknown wallets. The transaction is creating a buzz in some quarters of the XRP community. Some consider this a dump while others see it as a signal of incoming inflation. Ripple's "lock" and "unlock" of escrow. As per the data shared by Whale Alert, the transaction had a nominal fee of 0.0001 XRP. The Ripple escrow system launched in December 2017, is a way to ensure predictability and stability of the XRP market while providing liquidity. On Friday, May 3, Ripple Labs shifted 800 million XRP into an escrow wallet to rebalance the circulating supply of the digital currency in three tranches. The lock-up did not result in the recovery of losses incurred in the previous week. Ripple's escrows typically unlock approximately 1 billion XRP each month, with any unspent portion returned to escrow. The unlocking of 400 million XRP is sparking speculation as to the XRP market trajectory in the coming days. Market response to 400 million XRP unlock. Despite the sizable unlock, the reaction within the XRP market has been relatively calm. Although large unlocks can lead to volatility due to increased liquidity and potential market speculation, at the time of writing, the XRP price as shown on CoinMarketCap reveals that XRP is up 1.9 3% at $0.5303. While the 400 million XRP unlock did not cause significant market turmoil, industry watchers advise investors to keep monitoring Ripple's escrow activity and its potential impact on the broader cryptocurrency market. The ongoing legal battles Ripple faces with the U.S. Securities and Exchange Commission (SEC) continues to trail the exchange. Ripple recently filed a crucial reply to the SEC's remedies briefing in April where the regulatory authority sought disgorgement of profits derived from XRP sales and civil penalties.

400 Million XRP Unlocked From Escrow, XRP Reacts Unexpectedly.

A whale transaction involving 400 million XRP, worth approximately $213.9 million, was unlocked from an escrow wallet.

According to Whale Alert, the 400 million processed on the Ripple blockchain is between two unknown wallets. The transaction is creating a buzz in some quarters of the XRP community. Some consider this a dump while others see it as a signal of incoming inflation.

Ripple's "lock" and "unlock" of escrow.

As per the data shared by Whale Alert, the transaction had a nominal fee of 0.0001 XRP. The Ripple escrow system launched in December 2017, is a way to ensure predictability and stability of the XRP market while providing liquidity.

On Friday, May 3, Ripple Labs shifted 800 million XRP into an escrow wallet to

rebalance the circulating supply of the digital currency in three tranches. The

lock-up did not result in the recovery of

losses incurred in the previous week.

Ripple's escrows typically unlock approximately 1 billion XRP each month, with any unspent portion returned to escrow. The unlocking of 400 million XRP is sparking speculation as to the XRP market trajectory in the coming days.

Market response to 400 million XRP unlock.

Despite the sizable unlock, the reaction within the XRP market has been relatively calm. Although large unlocks can lead to volatility due to increased liquidity and potential market speculation, at the time of writing, the XRP price as shown on CoinMarketCap reveals that XRP is up 1.9 3% at $0.5303.

While the 400 million XRP unlock did not cause significant market turmoil, industry watchers advise investors to keep monitoring Ripple's escrow activity and its potential impact on the broader cryptocurrency market.

The ongoing legal battles Ripple faces with the U.S. Securities and Exchange Commission (SEC) continues to trail the exchange. Ripple recently filed a crucial reply to the SEC's remedies briefing in April where the regulatory authority sought disgorgement of profits derived from XRP sales and civil penalties.

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Is Ethereum (ETH) in Danger of Price Drop? Ethereum might drop below a crucial price level, especially if the historical support level does not hold. For now, Ethereum is moving at the $3,760 price level, with support at $3,720. In case of a drop below the aforementioned support, the 26 EMA is the next level for a bounce. Potential volatility is indicated by Ethereum's current price action. Since the $3,720 support level has already been put to the test multiple times, bulls must protect it. The 26 EMA, which is currently at $3,568, is the next major support if this level is broken. It will be carefully observed if this moving average can offer support, as it has in the past during corrections. The signals from the technical indicators are conflicting. The fact that the RSI is circling 62 indicates that ETH is not yet in overbought territory, but more downside is possible before oversold levels are reached. The low volume, on the other hand, suggests that there is not much buying interest to drive prices higher. Additionally, it is generally regarded as a bearish signal that Ethereum has been moving in a consolidation for more than a week. This implies that there may be a slowing of the recent upward momentum. In comparison to other cryptocurrencies, Ethereum has performed rather well, considering the larger market environment. External variables though, like news about an ETF or notable changes in the price of Bitcoin, might have an effect. However, the market is relatively bullish, which could be beneficial to ETH.
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Shytoshi Kusama Reveals Big Reason for His Recent Social Media Absence. The mysterious leader of the Shiba Inu team known within the SHIB community as Shytoshi Kusama has emerged on the X social media platform after a period of low activity. He revealed where he has been over the past week, when he hardly posted on the X platform. SHIB lead returns to X from travel. Shytoshi Kusama unveiled the reason for his absence - the SHIB lead had been traveling to the Middle East, where he had been having "an incredible time meeting and understanding the culture of my cousin." Kusama accompanied his tweet with a #shibarmystrong and #inshallah hashtags. The latter suggests that he had been visiting a Muslim country or countries. Over the past week, Kusama's activity on X was brought down mainly to reposting tweets from other X users, and he also published a bullish tweet on May 29, when the SHIB price soared by more than 19% within 24 hours. SHIB representative posts Shibarium Warren Buffett joke. The SHIB community has reacted to the recent wave of tweets trolling the renowned investor Warren Buffett, who is a rigorous anti-Bitcoiner. The share price of his investment fund, Berkshire Hathaway, appeared to plunge by almost 100% as a result of a technical glitch on Monday. The incident happened to the Hathaway A- Class shares, which collapsed from $624,400 to $185.10 per share, along with the share prices of 40 other assets yesterday morning on the NYSE. The official marketing leader of Shiba Inu, Lucie, shared a screenshot of a tweet, seemingly from Warren Buffett's X account, where he stated: "Fudge fudders! Shibarium will win!" The post is dated 3 June 2029. In the comments, Lucie clarified that this was a joke. Among the notable figures in the cryptocurrency community, who also responded to Warren Buffett's company's news, was the infamous U.S. whistleblower Edward Snowden and tech billionaire Elon Musk. Snowden commented on the news by saying, "Bitcoin fixes this."
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200 Million DOGE: Here's What Dogecoin Whales Are Doing. According to Ali, a crypto analyst, the last five days have seen a significant level of accumulation of Dogecoin by large holders, or whales. Ali stated that since May 30, whales have added a whopping 200 million DOGE to their holdings, indicating accumulation. Meanwhile, the Dogecoin price has consolidated in a range since this date. After attaining highs of $0.174 on May 26, Dogecoin declined to trade in a range, a trend that continues to the present. The accumulation of Dogecoin by large holders is no less surprising, given that whales typically buy during periods of declines or consolidation, with the intent to acquire at a discount. The trend of accumulation among Dogecoin whales became noticeable in late May, with blockchain data trackers observing significant DOGE transactions from wallets and exchanges. Ali reported that on May 31, Dogecoin whales bought over 700 million DOGE within a 72-hour time frame, worth $112 million at the time. The massive accumulation might suggest that these whales, or large holders, might be positioning themselves for a significant price shift as the Dogecoin price consolidates. Dogecoin price action. Currently, Dogecoin faces its next major resistance near $0.174. Ali predicts that once this barrier is overcome, DOGE has the potential to double, with the next key resistance around $0.322. At the time of writing, Dogecoin was down 2.83% in the last 24 hours to $0.157. A break below the 50-day SMA at $0.1541 might swing the short-term advantage in favor of the bears, which might lead to a drop toward $0.14. Meanwhile, a possible scenario remains that of consolidation, with Dogecoin trading in a range between $0.18 and the 50-day SMA for a while. On the other hand, if Dogecoin rebounds, the price might aim next to the $0.174 level. A sustained breach might aim for the $0.21 level in the short term.
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Shocks Shiba Inu's 52% Drop in Key Metric Shibarium. The Shiba Inu blockchain, Shibarium, has seen a dramatic drop in activity over the past 24 hours. As data from Shibariumscan shows, transaction fees collected on this layer-2 blockchain have dropped by 52% in the last 24 hours, from 46.5 BONE to 22.33 BONE. For those unfamiliar with the Shiba Inu ecosystem, it is important to clarify that Shibarium facilitates the transfer of Shiba Inu tokens, using BONE tokens to cover transaction fees. Specifically, each transaction contributes to the burning of SHIB tokens, with a portion of the BONE transaction fee being converted to SHIB tokens and sent to the burning wallet. The drop in fees at Shibarium was naturally caused by a drop in transaction fees on the Shiba Inu blockchain. In the last 24 hours, the number of transactions through Shibarium dropped from 9,181 to 4,751. In addition, the number of active accounts interacting on the network of Shiba Inu decreased from 1,077 to 616. As you can see from all of this data, the Shiba Inu network has seen a decline on all fronts. What this is due to is an open question. It is likely that current market participants, including Shiba Inu enthusiasts, do not see opportunities or interest in active participation in Shibarium. As we know, the crypto economy is highly dependent on attention, and if there is any conclusion to be drawn, it is that the Shiba Inu network and the entire ecosystem built around a popular meme-inspired cryptocurrency is not attracting it enough.
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Bitcoin (BTC) Futures Trading Intensifies With Growing Bullish Sentiment. In a recent development that underscores the growing optimism on the cryptocurrency market, Bitcoin (BTC) futures trading has seen a marked increase in activity, driven by a shift in market sentiment toward bullishness. Matrixport, a prominent player in the digital asset space, highlighted the trend in a tweet, noting that Bitcoin's funding rate had been positive during the last few weeks, as sentiment had shifted more toward bullishness. They mentioned that futures trading positioning had also increased in the last 24 hours, signaling that fast traders (futures traders) were expecting Bitcoin to continue to rally. The positive funding rate for Bitcoin futures is a critical indicator of market sentiment. A positive funding rate means that traders holding long positions (betting on a price increase) are paying a fee to those holding short positions (betting on a price decrease). This scenario typically reflects bullish market sentiment, as it suggests that the majority of traders are confident that the price of Bitcoin will rise. The increase in futures trading positioning within the last 24 hours is another significant signal. It suggests that futures traders, who are often known for their quick reactions to market movements, are positioning themselves for a continued rally in Bitcoin's price. This behavior indicates a strong belief in the upward momentum of Bitcoin, bolstering the overall bullish sentiment on the market. Current market performance. Despite the bullish sentiment and increased futures trading activity, the current price of Bitcoin stands at $68,883, reflecting a slight decrease of 0.32% in the last 24 hours. However, it is important to note that Bitcoin's price has surged by 8.63% over the past 30 days, showcasing a robust performance amid fluctuating market conditions. The 24-hour trading volume of Bitcoin also provides a lens into the heightened market activity. Currently, the trading volume is up by 20.70%, standing at $29.3 billion.
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