As a seasoned analyst with years of immersion in the dynamic world of cryptocurrencies, I find myself intrigued by the recent developments that have unfolded over the past day.
Stay updated on the latest crypto developments by checking out U.Today’s top 3 news headlines from yesterday.
4,999,999,999 DOGE withdrawal stuns world’s largest exchange
Based on Whale Alert’s December 16th post, a massive Dogecoin withdrawal occurred on Binance, the world’s leading crypto exchange by volume. This transaction involved over $2 billion worth of Dogecoin. More specifically, approximately 4.99 billion DOGE were moved to an unidentified wallet, equating to around $2,029,427,748 at the time of the transaction. According to Whale Alert’s data, this transfer was made up of multiple smaller transactions, all directed to a wallet address ending in AguBr5; currently, this address holds a total of 5.56 billion Dogecoin worth $2,219,680,076. The scale of this withdrawal left the Dogecoin community astounded, leading to numerous theories; some suspect it might have been an internal transfer within Binance, although blockchain data does not substantiate this theory.
Shiba Inu goes from billion to 13 trillion SHIB: Major support ahead
The upcoming critical support level of 13 trillion SHIB may have a significant impact on Shiba Inu’s price movement. This level acts as a hurdle for sellers but presents an opportunity for buyers to spark a rally. However, the general feeling towards SHIB is tentative because it hasn’t been able to maintain its price above $0.00002800, suggesting a decrease in upward momentum. If Shiba Inu drops below its current support, it might fall toward crucial levels around $0.00002249 and $0.00002031 to prevent further corrections. The bulls need to defend these strong areas of support, both psychologically and technically, to avoid more drastic adjustments. Interestingly, Shiba Inu is experiencing a significant drop in trading volume, suggesting waning interest from both buyers and sellers, making an immediate recovery for SHIB unlikely. However, if buying activity picks up and Shiba Inu manages to hold the 13 trillion SHIB support level, a rebound could happen, with $0.00003000 serving as possible resistance.
Ripple USD (RLUSD) earns praise from Cardano founder
In a recent update from X, Charles Hoskinson, founder of Cardano, commended Ripple’s RLUSD stablecoin, describing it as impressive. He expressed intentions to bring RLUSD to the Cardano blockchain, potentially increasing its influence in the cryptocurrency world. The New York State Department of Financial Services granted approval for this stablecoin last week, making it operational on the XRP Ledger and Ethereum yesterday, causing excitement among Ripple supporters. According to CryptoQuant, a crypto analytics platform, about $66 million worth of RLUSD tokens have been created in the past two weeks. Ripple’s Jack McDonald emphasized the possible uses of this stablecoin, including instant transactions, collateralization, and DeFi integration. Furthermore, Ripple President Monica Long praised the launch of RLUSD, stating it as a significant achievement for both Ripple and the XRP Ledger.
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2024-12-18 19:13