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Ripple Sent 100M XRP To Unknown Wallets

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A total of 100 million XRP worth almost $50 million was moved to unknown wallets by blockchain major Ripple, data from Whale Alert showed.

Just a few days ago, whale movements were at their peak when a whopping 975 million XRP tokens were transferred in less than two hours according to the blockchain tracking platform.

The largest transaction ever was the transfer of 500 million XRP, or $230.36 million, from an unidentified wallet to a Ripple Escrow wallet. It was instantly locked in “escrow” at the Ripple Escrow wallet, a function that enables users to set conditional cryptocurrency payments.

A transfer of 300 million XRP, or $138.56 million, from an anonymous wallet to Ripple was the second-largest transaction that was seen.

Anonymous wallets deposited 54.23 million XRP, or about $25 million, to the cryptocurrency market Bitso in Mexico. Per data, a whale transferred 60 million of the above asset, or around $28 million, from a secret wallet to the Bitstamp cryptocurrency exchange in Luxembourg.

Reason Behind Massive XRP Tokens Transfer

In the hours leading up to the time of publication, the recipient’s identity is still unclear. The transfer, however, is anticipated to be linked to the On-Demand Liquidity [ODL] program offered by the blockchain corporation.

Ripple might have transferred the funds to a user of its ODL solution. It is important to note that Ripple’s ODL utilizes XRP as a bridge currency for international payments.

The token noted another uptick in the on-chain metric count.

Data from CoinMarketCap revealed that the token’s trading volume recently experienced a dramatic increase of 1,500%. However, the price of the coin was unaffected, leading the crypto community to speculate.

Increased volatility often results in higher trading volumes as seasoned traders buy and sell big amounts of cryptocurrency to make profits. However, as the coin has been consolidating in a range since Oct. 20, this was not the case for XRP this time.

Investors who wanted to purchase the asset at its present range in expectation of a significant price change may have been the most likely cause of the spike. As of the time of writing, XRP is trading at $0.49, a marginal increase of 1.28% over the last 24 hours.

Polygon (MATIC) Shoots to New Heights, Gains Over 20% in 24 Hours

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Polygon (MATIC), the 11th-ranked cryptocurrency by market cap, has been exhibiting a bullish trend over the last 24 hours, achieving new highs since August with an astonishing gain of over 24%.

According to the statistics from CoinMarketcap, the token increased in value rapidly today and broke through its $1 threshold, which it had been at since August this year. Additionally, the token has demonstrated a considerable growth of about 27.88% in the past seven days.

MATICUSDT 2022 11 04 06 32 00
Source: Tradingview

The previous two days have seen MATIC steadily increase in value as the latest positive news comes out of Instagram and banking giant JPMorgan.

This ongoing pattern advanced following Santiment’s announcement that MATIC has recorded the highest number of transactions for whales above $100,000 since February.

In addition, the company’s analytics team speculates that the fact that whales’ MATIC holdings increased to over 10 million in the middle of October may have “foreshadowed” the peak in transaction volume.

However, on November 2nd, the parent company of Instagram, Meta, selected Polygon to launch its latest non-fungible token (NFT) tools, allowing users to create and trade digital collectibles “both on and off Instagram.”

Meanwhile, one of the world’s largest banks- JP Morgan- employed Polygon to conduct its first live transaction worth about $71,000. It was an important milestone for cryptocurrency integration into traditional financial frameworks.

Polygon (MATIC) Upside Ride

MATIC tokens started gaining momentum in early February when they rose to new price levels. They spiked by 602% after four weeks, going up from $0.35 to a record high of $2.45 during that time period. In May, they dropped to $1.09 before rebounding to $2.21 at the end of the month.

The coin price suffered after reaching its peak in May and experienced a wild journey. When it was announced that the top Ethereum app, Uniswap, has released on Polygon, it then reached a new record high of $2.92 on December 27th, 2021.

MATICUSDT 2022 11 04 06 34 53
Source: Tradingview

Since then, as seen in the graph above, the token’s price has fallen more than 61.0% from its all-time high, falling to $1.3802 in March 2022 amid the global crypto market crises.

Nevertheless, announcing a partnership with Polygon for its new Web3 wallet and enabling users to send and receive MATIC on its brokerage, Robinhood, helped the token again gain momentum in October.

Coinmarketcap’s data indicates that the token steadily rose in price throughout October, and as the new month of November starts, it becomes bullish following the aforementioned exciting news.

Furthermore, as per Nomics data, the market capitalization of MATIC has grown by about 24% during the past 24 hours, and the volume of trade during that time has also significantly increased by approximately 67%.

Related Reading |  ETH, BLUNT, and XRP Are on the Watchlist of Crypto Whales

Shiba Inu Burn Rate Skyrockets Over 14,000% as Price Recovers

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Shiba Inu (SHIB) recently experienced a sharp increase in burn rate with very few tokens burned. The SHIB Burn tracker shows that over the previous 24 hours, the burn rate of the Shiba Inu increased by 14,267.59%. The increase occurs even though there haven’t been many tokens burned.

Around 14.07 million tokens were transferred to dead wallets in the last 24 hours, according to SHIB Burn. According to SHIB Burn data, the greatest burn transaction on the previous day was about 9.8 million SHIB. Additionally, the day before, only 97,991 tokens were burned.

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Shiba Inu Burn Rate Skyrockets Over 14,000% as Price Recovers 5

However, the burn rate has cooled down and is currently standing at 1934.01%. 14,896,832 SHIB has been burned in the last 24 hours as per the updated data.

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Shiba Inu Burn Rate Skyrockets Over 14,000% as Price Recovers 6

Shiba Inu price spikes in the last 24 hours

Shiba Inu has gained traction along with the most recent market rebound. According to statistics from CoinMarketCap, SHIB is currently trading at $0.00001157, up 10.8% over the previous day. The market value of SHIB has also surpassed $6 billion for the first time in the previous 17 days.

Shiba Inu which was standing at 14th ranking among other cryptos in terms of global market cap lost it to TRX recently and was standing at 15 till yesterday. However, the recent price spike has pushed it to the 13th rank on the basis of the global market cap.

Whale activity has recently increased in Shiba Inu at a never-before-seen rate. Instead of buying billions of SHIB, whales were purchasing trillions. The whales have also been trading privately and shifting, selling, and buying back SHIB.

These routine actions are now regularly carried out by some unnamed whales. A whale anonymously transferred 3.3 trillion SHIB to another wallet, according to data from Whale Alert.

3,367,037,381,943 SHIB have been dumped by an anonymous wallet, according to Whale Alert statistics. The unknown is the precise nature of the transfer. It’s unclear if the transfer represents a genuine sell-off or merely a typical movement of the token between the whale’s wallets.

The global crypto market cap has finally regained $1 trillion as all the major coins are trading in the green.

Shiba Inu Is Now Available to the US Customers via BitStamp Listing

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As per the cryptocurrency exchange Bitstamp’s announcement, trading Shiba Inu (SHIB) tokens is now possible in the United States. After the biggest European exchange began offering SHIB trading in other markets, this happened.

American users of Bitstamp will be able to exchange the well-known meme cryptocurrency for dollars and euros. Early in June, Shiba Inu was finally made tradable on the major European cryptocurrency platform.

The listing was first disclosed by the well-known trading platform in December. Fans of SHIB, however, had to wait half a year before they could trade their preferred cryptocurrency on Bitstamp due to technical issues.

Trillions of Shiba Inu swapped in the last 24 hours

11 trillion SHIB or 11,182,405,061,512 SHIB have been swapped in the last day, according to data from CoinMarketCap. After momentarily dipping to the $0.0000099 level, Shiba Inu (SHIB) has recaptured the $0.000010 level.

Shiba Inu was showing a slight boost at the time of publication, rising 5% to $0.0000105. The SHIB price dropped down to trade below this crucial level once more after hitting highs of $0.00001058 on Oct. 26 after a four-day upward trend.

On October 24, sellers drove SHIB to a low of $0.0000985. Shiba Inu is trying to establish a base at the $0.00000985 price level after prices failed to fall below it for the second day in a row today.

Before the next move, there may be range trading, since the RSI has flattened below the midway. According to CoinMarketCap data, the prices of the Shiba Inu ecosystem tokens BONE and LEASH have also seen slight gains in the last day.

Despite being down 88% from its peak, SHIB still draws a sizable number of investors. Shiba Inu currently has 1,230,068 holders, according to cryptocurrency data tracker WhaleStats, indicating that the number of SHIB holders has increased recently.

Since the beginning of 2022, the percentage of Shiba Inu “hodlers,” or addresses that have owned SHIB for more than a year, has increased from less than 4% to over 37% of holders.

37% of SHIB holders have held their SHIB for more than a year, 60% have held for less than a year, and 3% have held onto their tokens for less than a month, per IntoTheBlock’s data on holder composition by time held.

Dogecoin’s Unique Addresses Jump By 90% In 3 Months

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Dogecoin saw its unique address count surge by almost 90% in three months with 4.,459,717 holders in the month of Oct compared to 431718 in July 2022, as per data. This signifies investors’ anticipation for the token to rebound despite the sluggish price action.

According to the stats from CoinMarketCap, the tenth-ranked cryptocurrency by market cap has gained 88,936 new owners during the past three months.

On the pricing front, the meme currency continues to struggle with a sustained downward price trend, which has raised questions about the asset’s ability to return to its 2021 highs.

At the time of writing this post, DOGE is trading hands at $0.05951, rising marginally by almost 2% in the last 24 hours. Its current market cap stood at $7 billion.

Dogecoin’s Mismatch Is Due To This

There are a number of causes for the discrepancy between DOGE’s price and holder growth, including the expectation that the meme coin’s value would perhaps increase.

Notably, the ongoing acquisition of the asset by the whales and associated network activity that aims to increase the usefulness of the token underline the expectation of DOGE rallying once more.

However, in terms of computing power, Dogecoin hit its highest level in seven months as the deadline for DOGE proponent Elon Musk’s Twitter deal approaches.

Data from CoinWarz showed that the global hash rate of the blockchain has reached a value of around 815 TeraHashes per second [TH/s], TronWeekly reported.

Even though DOGE has failed to put any impact on the price, it remains investors’ preference. For instance, Gokhshtein Media’s creator and cryptophile David Gokhshtein recently admitted that he still holds a significant amount of Dogecoin.

He is also anticipating the parabolic rise of the leading meme coin. Since 2021, Gokhshtein has vouched for DOGE, claiming that it has made it possible for many people to invest in Bitcoin.

With another major DOGE proponent Elon Musk including the popular meme coin in his newy launched perfume, the token’s adoption has been rising steadily.

A few other examples are BigCommerce, a significant supplier of e-commerce software, collaborating with BitPay and CoinPayments. This partnership enabled hundreds of BigCommerce merchants to gain access to a wide variety of cryptocurrencies, including DOGE, SHIB, Ethereum, and Bitcoin.

Shiba Inu Trinity Arrives In Amazon & Netflix Via FCF Pay

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Shiba Inu along with Bone and Leash tokens can now be used to pay for Netflix’s streaming service and shop on amazon. This has been made possible by FCF Pay, a leading payment getaway.

Users can load their FCF Visa card with any of these cryptocurrencies, among a variety of others, and use it to make purchases on these platforms.

Launched in 2021, French Connection Finance, or FCF is a DeFi payment protocol that experienced success as a result of the demand for its services, and it has since expanded those services. The Shiba Inu meme coin’s most recent development has added more payment options.

Three months ago, SHIB, BONE, and LEASH token payments were added by FCFPay. Following the listing, more than 5 million online stores in 195 nations began to accept these three SHIB ecosystem tokens as payment methods.

SHIB’s widespread adoption is constantly expanding. Despite the ongoing bear market, the Shiba Inu token keeps achieving new milestones. Recently, Swissborg, a well-known cryptocurrency exchange with headquarters in Switzerland, listed the token.

The trading platform explained how the expanding Shiba Inu community inspired its decision to list the asset. Swissborg also revealed a quick play2earn quest initiative as a way of saying thanks to the SHIB community.

By bringing more users to the Shiba Inu platform, the most recent SHIB listing could be a key factor in boosting the token’s adoption. The extensive Shiba Inu roadmap, which has a number of new projects planned for this year, has caught the attention of crypto enthusiasts worldwide.

With Shibarium‘s potential launch by the end of 2022, SHIB intends to shed its meme coin status by transitioning into a full-fledged crypto ecosystem offering a range of crypto-related services.

Shiba Inu, BONE Gather Traction

In addition to Swissborg, BitMEX, a cryptocurrency exchange based in Seychelles, previously disclosed plans to list Shiba Inu on its network.

The SHIB army has rallied behind the BONE token calling for its listing on the world’s largest crypto exchange Binance. It should be noted that Shiba Inu’s BONE has recently gained a lot of traction and is now considered to be one of the most popular smart contracts among Ethereum whales.

XRP, ADA Riding High On “Crowd Bullishness” In Q4: Report

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XRP along with Cardano [ADA], Bitcoin [BTC], and Binance Coin [BNB] is savoring positive crowd sentiment for the approaching Quarter 4, data aggregator Santiment indicated.

“The crypto crowd is far from euphoric toward markets. But the persistent negativity and bearishness have faded as traders anticipate a rebound here in Q4. XRP, ADA, BTC, and BNB all indicate crowd bullishness,” while adding ETH has turned “slightly bearish”.

In particular, as of October 20, the trader sentiment was at its most bullish in a month, and are anticipating a price rebound for the mentioned coins in Q4, Santiment wrote.

Bitcoin has a weighted sentiment of 0.52 among the highlighted assets. Ethereum [ETH], the second-ranked cryptocurrency by market capitalization, is the only prominent digital asset highlighted by the behavior analysis platform that is slightly bearish.

Positive crowd sentiment does not, however, always translate into similar price action. The market intelligence firm recently used Twitter to elaborate on how social media buzz dampens potential cryptocurrency bounce.

The crypto market experienced its highest level of social media optimism in the past two months during the spike on October 19.

Santiment noted that the market quickly responded in opposition to the sentiment of the crowd by dropping prices in both the cryptocurrency and equity markets until the excitement subsided.

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XRP, ADA Riding High On "Crowd Bullishness" In Q4: Report 8

Although the long-term crowd sentiment has remained negative, it was noted that swing trades in October have been primarily influenced by the frequency of bullish and bearish calls.

Santiment concluded that cryptocurrency prices typically rise when social media platforms show that market sentiment is bearish. The opposite occurs, and prices decrease when the market sentiment is bullish.

The latest report, nevertheless, highlighted altcoins standing out in the crowd, especially the XRP token.

XRP Favourite Among Retail And Institutional Traders

The XRP token continues to be popular despite going through some difficult times. Many investors, both retail and institutional, use the asset to complete their various transactions.

The strength of RippleNet transactions is one of many elements that contribute to the XRP token’s success. In addition to this fact, the market’s outlook, an increase in whale activity, and listing updates are significant contributors to its expansion.

Shiba Inu Spikes in Price After Losing Its 14th Throne to TRX

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Shiba Inu price spikes after following the slump yesterday. The price of cryptocurrencies managed to recover by the conclusion of the trading session despite yesterday’s market slump brought on by inflation, and SHIB was no exception.

Shiba Inu replaced TRON in the CoinMarketCap list of the top coins by market capitalization thanks to significant price movement.

SHIB gained more than 7% in the second half of the day after concluding the first half of the day at a loss of 9.5% of the day’s beginning price.

Shiba Inu’s capitalization eventually managed to surpass Justin Sun’s TRON blockchain by $13 billion, reaching $5.6 billion. However, the regaining of the throne was short-lived.

TRX dethrones SHIB once again

Even though SHIB regained its throne, it was short-lived. TRX takes back the 14th position of SHIB on CMC.

Nevertheless, SHIB is still trading at relatively low levels, as it was in mid-September and in July. What will happen to SHIB next is difficult to predict after it tested the bottom end of its price range yesterday at $0.0000095. It’s possible that the Shiba Inu coin will keep trading sideways between that price and $0.000011.

In other news, SHIB whales are accumulating the meme coin. As one of the most well-known canine-themed cryptocurrencies rebounds off from a crucial support level placed at $0.0000098 on the daily chart, two Biggest Shiba Inu (SHIB) Whales have amassed a staggering $2.71 Million worth of SHIB in the last 24 hours.

Shiba Inu attempted to break through the critical support level ($0.0000098) on the daily chart on Thursday, but thankfully it was unsuccessful as two deep-pocketed Shiba Inu whales invested a staggering $2,721,464 ($2.72M) to buy 256,984,448,543 (256.98B) SHIB in three significant transactions, according to Etherscan.io.

SHIB burn rate soars

An unknown wallet destroyed 116.47 million coins, while 132.06 million SHIB were burned in 14 different transactions in a 24-hour period, sending the burn rate for Shiba Inu soaring by 590.44%.

In two consecutive transactions that were completed around an hour ago, the unknown wallet reportedly transferred a stunning 61,526,340 (61.52M) SHIB to the “inferno” addresses.

The anonymous wallet burnt an identical number of Shiba Inu tokens in each of the two transactions, or 30,763,170 (30.76M), according to Etherscan.io.

Solana DeFi Exploiter Will Return “Bad Debt”… On One Condition

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Solana-powered decentralized finance [DeFi] lending protocol Mango Markets recently suffered a massive exploit to the tune of $100 million, where the attacker reportedly manipulated the oracle’s smart contract.

After the team offered a bounty in exchange for the return of the stolen assets, the hacker/s made a proposal on Mango Governance that they would send back those assets but under one condition and that was utilizing $70 million USDC from Mango’s treasury to repay the “bad debt” within the protocol.

The negotiation agreement also specified that once the tokens are returned, no criminal investigations would be opened.

By voting for this proposal, mango token holders agree to pay this bounty and pay off the bad debt with the treasury, and waive any potential claims against accounts with bad debt, and will not pursue any criminal investigations or freezing of funds once the tokens are sent back as described above.

For the uninitiated, this bad debt is the result of a rescue plan developed by Mango Markets and the competing Solana lending platform Solend for a major Solana whale with $207 million in debt dispersed across several lending platforms.

The whale had once borrowed 88% of the USDC that was available on Solend.

The rescue was put together because of concern that the whale’s bets would be liquidated if the SOL token fell another 20%, which would spread and have a negative influence on the Solana ecosystem.

Solana Exploiter May Have Rigged The Voting Proposal

At the time of writing this post, 32 million “yes” was garnered from the attacker’s proposal. Meanwhile, crypto Twitter is abuzz with the proposal’s absurdity amidst speculations that the voting process has been rigged by the exploiters to favor them.

That being said, online sleuths continue to dig deeper into the exploit. According to the blockchain auditing website OtterSec, the attacker addresses were funded 5.5 million via FTX. Not just Solana oracles, the attacker also appeared to exploit prices across all exchanges.

Mango Markets is a Solana-based platform for trading digital assets on the Sol blockchain for spot margin and trading perpetual futures. The protocol is governed by Mango DAO.

Following the latest incident, its native token MNGO token has shed its value by more than 40% in the last 24 hours.

The team behind the DeFi trading platform later updated that withdrawals are temporarily halted to prevent any further unnecessary losses. “To make sure depositors of the Mango protocol are made whole and to try and salvage some value in Mango DAO and protocol to rebuild from here”, it added.

How To Burn the Entire Shiba Inu Supply? Shytoshi Kusama Sheds His Insights

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Shiba Inu burning was one of the notable initiatives by the SHIB developers. The initiative popped up in a mission to reduce the circulating supply of SHIB. This in turn is envisioned to create increased demand and a spike in the price of SHIB.

Various SHIB users have taken part in the SHIB burn initiative and the numbers are sometimes promising and sometimes not.

Lead Shiba Inu developer Shytoshi Kusama, who goes by the alias Shytoshi, responded to SHIB supporters’ accusations that he did nothing to burn the remaining stock of SHIB with passion.

Shiba Inu users accused Shytoshi of fewer burns

Kusama was accused of doing nothing except making pledges to destroy the remaining SHIB supply by JEF SHIBA INU SOLDIER and Johnarrow Hawkfeather. Shytoshi answered that he as well as the whole SHIB community doesn’t own the entire quantity of Shiba Inus that were now in circulation.

According to the developer, the community must purchase it in order to destroy the remaining supply. Then he asked them to go away, “stop shouting” at him, and give him space to do his work. Kusama later stated that Shibarium is the key to burning the last of the SHIB that is still in circulation.

Several projects are already acquiring SHIB for burning money made from in-game adverts. Travis Johnson buys SHIB and burns it once a week using the revenue from his Amazon advertising network and other income streams from gaming.

If the SHIB developers ramp up the burn game, it can definitely cause a spike in the value of SHIB when there is less supply. According to data from Shibburn, only 32,676,289 SHIB was burned in the last 24 hours. This is just a 66% hike in the burn rate in the last 24 hours. A total of 410,380,427,633,498 SHIB has been burned from the beginning.