As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself intrigued by this week’s headlines. The surge in XRP whale activity has caught my attention, with transactions worth millions moving around like hot potatoes. It reminds me of the game of musical chairs we used to play back in school – only this time, it’s a game of ‘musical wallets’.
U.Today presents the weekend’s three most significant and trending stories; check them out!
99,999,980 XRP at go: What’s going on?
There’s been a significant rise in large-scale XRP transfers recently, as shown by Whale Alert data. For instance, on December 13th, a transfer of about 99.9 million XRP, worth around $234.4 million, was made. This transfer is part of a series of substantial XRP transactions over the past two days. Furthermore, other large transfers were noted, such as 39 million XRP (approximately $95 million) going to Coinbase and 380 million XRP ($915 million) moving from Ripple to an unidentified wallet. Despite the unknown parties involved in these transactions, it’s plausible that they involve whales, exchanges, custodial platforms, or institutional investors. These transactions could potentially be over-the-counter deals happening off crypto exchanges. It appears that various entities might be shifting XRP between different wallets for reasons of security or strategic planning.
BlackRock sets XRP ETF aside, here’s what’s happening
According to recent updates, it appears that BlackRock is not currently planning to launch any new Exchange-Traded Funds (ETFs) tied to XRP or other cryptocurrencies at this time. As reported by Wu Blockchain X account, citing Bloomberg ETF analyst Erich Balchunas, the head of BlackRock’s ETF division, Jay Jacobs, stated that their primary focus is still on expanding their existing Bitcoin and Ethereum ETFs, which have yet to reach a substantial number of customers. Wu Blockchain also mentioned that regulatory bodies in the U.S., particularly the SEC, are expected to approve ETFs like Solana (SOL) and XRP by the end of next year.
Cardano (ADA) price super cycle predicted by top analyst
Despite cautious market sentiment, Cardano (ADA) remains above the $1 threshold. Thus, market analyst and Crypto Capital Venture founder Dan Gambardello has expressed an optimistic outlook for ADA in his recent X post. Gambardello predicted that the asset could reach prices as high as $14, supported by current trends observed on the daily chart. “The Cardano milestones of $3, $7, and $14 do not look far at all,” he wrote. Gambardello suggests that ADA is on the verge of entering a “supercycle,” characterized by sustained upward movement and minimal retracements. Gambardello’s supercycle prediction is consistent with ADA’s current price trend. Although ADA’s price has experienced a steady increase over the past month, it is currently consolidating between $1.00 and $1.17. Currently, ADA is changing hands at $1.07, down 2.07% over the past 24 hours, per CoinMarketCap.
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2024-12-16 19:21