As a seasoned analyst with years of experience navigating the dynamic world of cryptocurrencies, I find myself intrigued by the events that unfolded over the past day.
U.Today has prepared summaries of the top three news stories over the past day.
XRP support added by major Japanese exchange
On September 4th, CoinCheck, a Japanese crypto exchange and the 48th ranked platform globally according to CoinMarketCap, announced via its Twitter account that it would begin supporting XRP. In addition to XRP, five other digital assets were also listed on the same day: Ethereum (ETH), Shiba Inu (SHIB), NEM (XEM), IOST (IOST) and Enjin Coin (ENJ). CoinCheck had previously hinted at this move on August 30th, indicating that the assets would be added on September 4th. As anticipated, the listing was made as scheduled
Shiba Inu (SHIB) skyrockets 171% in whale move
In contrast to the broader crypto market experiencing a significant downturn, there’s been a notable spike in Shiba Inu’s whale activity over the last day. According to IntoTheBlock data, large transactions for Shiba Inu have skyrocketed by 171%, reaching $25.81 million and representing 1.97 trillion SHIB tokens. It’s common to see such activity from institutional traders during periods of market instability. The recent increase in SHIB whale transactions might imply that big holders are either accumulating more tokens or moving their tokens to move large amounts of Shiba Inu tokens or tokens, indicating a significant market volatility is often associated with increased activity from whale addresses belonging to institutional traders. This surge in SHIB whale transactions could potentially suggest that large investors are either boosting their token holdings or transferring substantial quantities to different wallets
Crypto market bloodbath explanation provided by Jim Cramer
As an analyst, I’d like to share some insights on the recent market downturn, as observed by Jim Cramer, the host of Mad Money on CNBC and a renowned financial commentator. In his latest post, he discussed the factors contributing to the ongoing sell-off, which has affected both stock and crypto markets
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2024-09-05 19:24