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Ethereum Investor’s Sentiment Plunges Despite Merge Hype – Report

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Ethereum’s upcoming transition to a proof-of-stake [PoS] system which is scheduled for Sept. 19, has been the talk of the town, causing both hype and FOMO over the last week.

And to top that, ETH co-founder Vitalik Buterin recently laid out the next steps in the roadmap for the network with monikers Surge, Verge, Purge, and Splurge.

But as per a data analytics platform Santiment, the hype has so far failed to put any positive impact on the investors’ outlook.

The study highlighted that the asset is trading in severe negative sentiment territory as traders braced for a price drop in the upcoming Federal Reserve’s Federal Open Market Committee [FOMC].

The Fed’s meeting is slated to be on 26th and 27 July this week and is expected to raise interest rates by another 75 basis points, following in the footsteps of June’s rate hike.

The report also pointed out that any price rally of the coin would be short-lived and volatility would persist for some time.

“ETH had an up and down Sunday, jumping above $1,640 before dipping back down to $1,540. The trading crowd continues to not believe the hype and is expecting prices to fall heading into the FOMC meeting. ETH should continue to stay volatile.”

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Ethereum Investor's Sentiment Plunges Despite Merge Hype - Report 2

Ethereum Held On Exchanges Hit A 4-Year Low

In a separate study by Glassnode, Ethereum held on exchanges hit a four-year low after record staking figures on Ethereum 2.0 [the network’s incoming upgrade, recently rebranded to “Consensus Layer”].

Glassnode also found that centralized exchanges [CEX] currently hold over 19 million ETHs. The latest data is a little over 20 million back in July 2018, Glassnode suggested.

The sharp decline in Ethereum held across exchanges is likely due to the increasing number of Eth staked as the network prepares for its biggest upgrade yet.

Chainalysis, a blockchain data tracking platform, also reported similar findings: “The change in ETH held on exchanges experienced the largest one-day decrease in 202 days, decreasing by 432.84k ETH to 249.58k ETH.”

In contrast to the current network, Eth 2.0 is a proof-of-stake [PoS] network where validators stake 32 Eth to verify the network’s integrity.

Shiba Inu takes it to The Third Floor

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A significant collaboration between the Shiba Inu team and The Third Floor (TTF), the busiest visualization studio known for its work on numerous Marvel blockbusters, has been announced.
TTF will take charge of artistic development by assisting the creators of the well-known meme coin in defining the virtual worlds for the metaverse project.

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Source: Twitter

The American firm has contributed to a number of well-known films, including “Avengers: Infinity War,” “Wonder Woman,” “Thor: Ragnarok,” “Mad Max: Fury Road,” and others. TTF has also contributed to episodic television shows and video games like “Doom” and “Resident Evil 6.”

The Shiba Inu community’s artistically driven mission, according to TTF’s chief creative officer Dane Smith, is “inspiring.” According to Smith, the metaverse may be able to provide an infinite amount of opportunities and mixed-reality experiences.

At the time of press, Shiba Inu was priced at $0.00001178 with a daily hike of 0.73%.

Shiba Inu’s rival Dogecoin presents its Core 1.14.6

Dogecoin has a new iteration, and cryptocurrency users shouldn’t disregard it. The Dogecoin team published a new core version of the joke currency early on Thursday, enhancing the blockchain’s efficiency and security. On Twitter, the Dogecoin team announced,

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Source: Twitter

Along with security updates, the developers updated the pricing structure and other features. For instance, from 1 DOGE to 0.01 DOGE, the acceptable dust limit has been reduced. Other modifications included limiting the amount of addnode records that could be created to 800 and configuring a wallet backup directory.

Improved stopped transaction detection was one of the new features that will assist cut down on delays. In addition, adjustments were made to the UI’s pruning configuration and its management of connections without restarting.

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Source: Twitter

Elon Musk was one of the community members that wanted DOGE to change course and take on a more significant role in usability. We can view the outcomes of the investigation conducted by the Doge developers.

During Tesla’s earnings call, where they reported selling off 75% of its Bitcoin holdings but none of its Dogecoin holdings, the billionaire’s backing was evident.

Furthermore, at the time of press, Dogecoin was priced at $0.0689 with a rise of 0.72% over the last 24 hours.

Major Bitcoin holding dumped by Tesla

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Leading EV maker Tesla said during its results teleconference on Wednesday that it had converted 75% of its Bitcoin assets into cash.

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Source: Twitter

According to its Q2 report, Tesla possessed only about $218 million in cryptocurrencies at the conclusion of the second quarter.

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Source: tesla.com

In February 2021, the well-known e-car manufacturer said that it had bought $1.5 billion worth of Bitcoin, driving the price of the leading cryptocurrency to all-time highs. Shortly after, it made a tiny sale to test the marketability of Bitcoin.

The Elon Musk-run business ceased taking BTC as a form of payment in May 2021 because of ethical considerations.

At the end of 2021, Tesla stated that it has approximately $1.99 billion worth of BTC in its possession.

Third largest whale dumping Bitcoin too?

Recent rumors claim that the third-largest Bitcoin whale has begun selling his HODL holdings. In retrospect, members of the community have begun attesting that BTC would probably respond to the same and go below $10k.

The negative prognosticator “CryptoWhale,” which has a good track record of success, stated that the current stage for whales is “exit liquidity.” According to BitInfoCharts’ on-chain data, the whale discharged almost 15500 BTC on July 19. CryptoWhale claimed back then,

“I expect much more to be sold off very soon.“

As expected, the selling frenzy continued. The whale’s balance fell from 112,382.42 BTCs, valued at $2,643,251,736 in a sequence of transactions on Wednesday and Thursday, to 0.00999896 BTC, only worth $230.

CEO of on-chain data analytics startup CryptoQuant Ki Young Ju stated on Twitter that the transaction(s) are “simply internal” and suggested that the wallet may be either a cold or custodial wallet controlled by Gemini. He also claimed,

“What’s obvious is that it’s not a user deposit to exchange hot wallets for selling $BTC. Not at all.“

Similar mislabeling had happened before and caused market players to harbor misinformation. The misidentification of one exchange wallet as another’s by on-chain data providers was noted by CryptoQuant last year.

However, the world’s largest cryptocurrency currently trades at $22,690.09 with a daily plunge of 0.40%.

Dogecoin Blockchain Transactions Display a Spike as Market Turns Green

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Dogecoin creator, Shibetoshi Nakamoto called attention to the dramatic increase in the number of transactions on the chain. This was when the statistics unexpectedly reached approximately 70,000 operations in the previous 24 hours

The sudden rebound of the bitcoin market occurred after the rise in Doge transaction volume. The two biggest cryptocurrencies, Ethereum and Bitcoin, saw gains of 11% and 6%, respectively, over the weekend trading session.

Dogecoin gains as the market recovers

In terms of DOGE’s price performance, the meme currency is increasing in value by about 3.7%, which is a modest increase for such a fickle asset. The increasing activity of whales might be the cause of the surge in transactions on the Dogecoin network.

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Dogecoin Blockchain Transactions Display a Spike as Market Turns Green 9

Whales may be staking more DOGE in anticipation of a potential rebound run now that the market is beginning to show indications of improvement. Dogecoin made a higher low during its journey for the first time in the previous five months, indicating a probable market reversal.

As whales may start shifting their cash from cold wallets to exchanges, the sharp increase in network transactions might also be an indication of impending market selling pressure.

The current market situation is displaying signs of a recovery. But it is quite unsure whether the market will rebound and continue the prolonged bear market. Whales that had accumulated SHIB and DOGE during the lows have enjoyed some profits due to the spike.

One of the best performers over the last week was MATIC, which displayed over 60% growth over the last week.

Jed McCaleb’s Ripple (XRP) Wallet Hits Zero Finally

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Jed McCaleb, the former creator of Ripple Labs, has finally stopped selling off all of his Ripple (XRP) assets after eight years, and now only has 46.7 XRP in his infamous “tacostand” wallet.

The former creator of Ripple sent out his final payment of 1.1 million XRP, valued at $394,742.18, at 6:31 AM UTC on Sunday, as per blockchain explorer XRP Scan.

The account showed an “ACCOUNT DELETE” transaction a few hours later, indicating that it will be deleted from XRP’s ledger.

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Jed McCaleb’s Ripple (XRP) Wallet Hits Zero Finally 11

The final transaction puts an end to the Ripple sell-off spree

The transaction completes a 9 billion XRP sell-off McCaleb started in 2014 after leaving Ripple Labs to co-found the competing Stellar payment technology.

The crypto community has welcomed McCaleb’s releases throughout the past eight years, which make up about 18.6% of the total XRP quantity that is now in circulation.

On Twitter, XRP whale, an advocate for the cryptocurrency, said to their 57,500 followers that after the last sell-off, it is now possible to hold more XRP than McCaleb.

Some were led to assume on Friday by a parody piece from The Crypto Town Crier that McCaleb had chosen to save his final five million XRP “just in case it moons.”

McCaleb, who has sold several billions of XRP since leaving Ripple in 2014, claimed he suddenly realized he couldn’t let the remainder of his assets go on Thursday night after waking up in a cold sweat.

Where truth counts more than accuracy is the slogan of the parody news website The Crypto Town Crier. XRP is now trading at $0.3652, an increase of 4 percent over the previous day. Since reaching an all-time high of $3.84 in January 2018, the asset has decreased by over 90%.

Since late 2020, the United States Securities and Exchange Commission (SEC) has initiated a lawsuit against Ripple Labs, alleging that Ripple and its officials sold XRP as an unregistered security.

Shiba Inu Team Provides Crucial Update on Bone Farms

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The team behind Shiba Inu published key updates on the minting rate of BONE. According to the blog post, the new minting rate is set at 1 BPB [BONE per block] to prevent the over-minting of the crypto asset.

Instead of halting the minting process completely, slowing the BPB, ensures not only the integrity of the DAO vote but also the reward system, while safekeeping the agreed minting ratios voted in by the community at 230 million BONE, the team claims.

Earlier the community decided to place a limit on the maximum supply at the original cap of 250 million BONE by stopping its minting at 230 million.

In addition to that, this adjustment would also streamline ShibaSwap rewards of the upcoming reward token TREAT, which is slated to enter the ecosystem soon.

We understand reducing the BPB down may seem like a drastic approach to the rewards system right now, but beginning streamlining the future of ShibaSwap will allow the team to focus on the tasks that will bring these systems to life sooner rather than later.

“Tokenomics for TREAT have yet to be revealed”, the blog added. It then concluded the post by urging users to stay tuned to https://blog.shibaswap.com for upcoming releases.

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Shiba Inu Team Provides Crucial Update on Bone Farms 13

For those new, BONE is the governance token of the Shiba Inu ecosystem & is about to become the ‘gas’ of the Shibarium Protocol, which means that the token would be necessary to perform every function on Shibarium SHIB’s Layer 2 Solution.

As per recent updates shared by Unification last month, the Shibarium Public Beta TestNet is planned for deployment in Q3, 2022.

Shiba Inu ‘Whale’ Transactions Have Spiked By 85%

Per IntoTheBlock data, Shiba Inu whales, or large-scale investors, are on the go, as large transactions have swelled by 85% over the past day.

Typically transactions of over $100,000 come under the large transactions and are sometimes linked with increased activity from whales who are either buying or selling.

Data from WhaleStats also revealed that the top 100 Shiba Inu holders showed a 33% surge in active address counts further contributing to the volume of large transactions.


Shiba Inu Now On RadioShack’s Radar

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Shiba Inu [SHIB] might soon land itself in one of the US’s iconic online electronic retailers. RadioShack recently posted a query on its Twitter handle tagging Shiba Army asking if it should accept the meme coin.

Users were quick to respond with affirmatives.

“At this point, is that even a question? Hell yeah!!”, “Always a good idea to keep up with the trends, correct? Do it! List shib!”, “The SHIBARMY welcomes anyone that wants to join our ranks. That would be a huge YES!”, etc are some of the replies.

RadioShack, formerly RadioShack Corporation, is a retail firm founded in 1921 by two brothers named Theodore and Milton Deutschmann as a supplier of the then-emerging area of amateur radio.

Over time, it grew to become a giant electronics retailer in collaboration with Tandy Corporation and now operates stores in the United States, Mexico, United Kingdom, Australia, and Canada.

Besides those territories, the retailer licensed other firms to use the RadioShack brand name in parts of Asia, North Africa, Latin America, and the Caribbean.

After its bankruptcy and subsequent acquisition, RadioShack decided to jump on the crypto bandwagon launching its own crypto exchange Radio Shack Swap. It also rolled out its native token called RADIO.

That said, the latest development would undoubtedly act as a major booster in Shiba Inu’s adoption.

Recently the popular token was accepted by another homegrown cryptocurrency exchange Bittrex as reported by TronWeekly. Late in June, the Switchere Exchange also announced the listing of the SHIB, LEASH, and BONE trio.

Shiba Inu’s Price Has Retraced

The meme coin has been dominating the top position as the largest token position by dollar value among the largest ETH whales.

Even though the Ethereum whales are still holding on to their Shiba Inu reserves, it still could not impact the price of the cryptocurrency.

At the time of writing this post, SHIB’s value dropped by 2.2 percent to trade at $0.000010, giving the 14th-ranked asset a market valuation of $5.81 billion.

As a result, there have been massive losses among the holders of the token.

Data from IntoTheBlock showed that the vast majority of SHIB investors have been drowning in losses currently, with only 24% of these investors in the profit territory.

Shiba Inu Bags Another Boarding; Gets Listed on Bittrex

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As another significant exchange joins the list, Shiba Inu (SHIB) is now formally listed on Bittrex, the leading cryptocurrency exchange in the United States. In September 2018, competitor Dogecoin was published on Bittrex.

Shiba Inu is presently tradable on a number of renowned cryptocurrency exchanges, notably Binance, Coinbase, Gemini, and others, as a consequence of numerous listings since last year.

SHIB was finally listed on the well-known cryptocurrency exchange Bitstamp in June, while stock trading platform Robinhood did so in April.

Late this month, the Switchere Exchange also revealed the listing of the SHIB, LEASH, and BONE Shiba Inu trio. As was previously reported, the German-based financial services company Vivid Money also endorsed SHIB around that period.

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Shiba Inu Bags Another Boarding; Gets Listed on Bittrex 15

Shiba Inu keeps burning away

Over 43,143,474 SHIB tokens have been burnt in the last day, according to the Shib burn Twitter handle, which reports 14 transactions.

Shiba Inu whales, or huge holders, are on the move, according to IntoTheBlock statistics, as large transactions have increased by 30% over the past day.

The average transaction is frequently in excess of $100,000, and notable spikes in transaction volume are periodically associated with increased activity by whales that are transacting heavily on SHIB.

SHIB has achieved a brand-new milestone that breaks records. There are now 1,202,755 Shiba Inu holders registered, according to WhaleStats. Among the top 100 ETH whales, SHIB now holds the position with the most number of tokens held.

SHIB’s price once again achieved the support level of $0.000010 after it had been broken on July 13. SHIB was trading up 5.8 percent at $$0.00001087 at the time of publishing.

Shiba Inu, DOGE, and Other Memecoins Witness Over $600M Trading Volume in 24 Hours

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Shiba Inu and Dogecoin have seen increased activity since investors are turning to extremely high risks and concerns.

Shiba Inu worth $332 million and somewhat less DOGE worth about $273 million were traded on the cryptocurrency market, according to Coin98 data. Eight additional coins are designated as “meme coins,” although their combined volume is still just approximately $20 million.

Shiba Inu ranks the highest traded among the meme coins

Shiba Inu overthrows DOGE to rank the highest traded in the last 24 hours. It is followed by ELON, BABYDOGE, FLOKI, AKITA, YDOSHI, KISHU, VINU and GOM.

DOGE has performed admirably in the first month of the summer, increasing in value by around 50% as the cryptocurrency market briefly saw a return to purchasing power. DOGE is still one of the most lucrative assets in June.

Unfortunately, the comparatively robust rise of 50% is insufficient to reverse Dogecoin’s severe downturn, which has persisted since November 2021.

Yesterday, Shiba Inu holders surpassed a new milestone. Shiba Inu’s enthusiasm has recently increased, and the number of owners appears to have reached a new high.

According to data from WhaleStats, the number of SHIB holders has surpassed a significant milestone. They found that the number of SHIB holders had surpassed the 1,200,000 mark, standing at 1,200,006.

Shiba Inu has been thriving thanks to its notoriety as current whale interest appears to have increased. The meme coin has a lot of advancements planned for this year, which may be linked to the increase in interest and the new milestone. Leading SHIB developer Shytoshi Kusama has stated the list of developments. One of the reasons for the increase in interest may be due to the developments he provided a sneak peek of.

Dogecoin Is Now Available for Japanese Investors Through FTX Japan

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Dogecoin is now officially listed on FTX Japan, which makes it the first local exchange to offer perpetual DOGE trading.

The information was made available on both FTX Japan’s website and on the company’s official Twitter account. According to the release, the exchange intends to conduct DOGE transactions at its exchanges and sales offices.

Starting at 11:00 a.m. JST on July 5, DOGE will be available for perpetual trading. Furthermore, the exchange claims to be the only domestic exchange offering Dogecoin perpetual transactions.

Dogecoin is enjoying soaring adoption

The project Dogecoin (DOGE), which started as a joke, has gained pace because Elon Musk, the CEO of Tesla, decided to support it. He recently revealed how he began backing the biggest dog-themed token available and added that he will continue to support the initiative despite a class action complaint being brought against him.

Individual investors have expressed interest in cryptocurrency over time, and several organizations and businesses have started using it as a form of payment. The dog-themed token has maintained a strong trend thanks to these and other events, including the decision to list on FTX Japan.

Intriguingly, according to WhaleStats, Dogecoin is now one of the top 10 tokens bought in the last day by the 100 largest Binance Smart Chain (BSC) whales. Yesterday DOGE came on the list of the top 1,000 BSC whales.

Dogecoin is now down 1.7 percent over the past 24 hours, trading at $0.067706. In the previous seven days, the meme coin’s value has increased by 2.6%. In terms of the coin’s overall performance, DOGE has fallen 90% from its all-time high of $0.7376.