Bitcoin 'liveliness' lowest since 2021 amid new 5-year BTC hodl record
More of the BTC supply has stayed in its wallet for five years or longer than ever before.
More of the BTC supply has stayed in its wallet for five years or longer than ever before.
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Bitcoin price is falling again after it started making a positive turn at the beginning of July. The entrance into the second half of 2022 seemed to revive most cryptocurrencies. There was a sudden rise in value for several tokens, with the world’s largest crypto asset almost taking the lead. Bitcoin hit the $25,000 level within the past few weeks, but such performance is not sustainable. On consecutive days this week, BTC lost hundreds of dollars in value as the price crawls back to around $23,000. The broader market is struggling through the downward path as many altcoins are dipping. The cumulative market cap lost up to $50 billion through the price drop from digital assets. Related Reading: Dogecoin Jumps 15% In 24 Hours As DOGE Overcomes Critical Level During last week, BTC dipped to the $22,000 mark. Then, it suddenly regained the momentum to cross the $25,000 level. Finally, Bitcoin even traded above $25,200, which stood as its highest price for over two months. While the price couldn’t make a further upward move, it stalled on the level for several trading hours. But it later dipped to $24,000 after losing $1,000. After that, the BTC price swiveled around within the level and later gained slightly to move to $24.400. It’s at this point that the bears take over. BTC gradually dropped till it lost $1,000 again to hit its weekly low of $23,000. At the time of writing, Bitcoin has lost some value in its market cap, which is now $450 billion. Also, the token is trading slightly above the $23,000 mark. Altcoins Also Dropped Following Bitcoin Bitcoin is not the only cryptocurrency in deep. Some major altcoins have plunged as well. Though the weekend was a bit of an impressive price rallying for some of the altcoins, they are already in red as the week rolls by. The second largest cryptocurrency, Ethereum, lost about $200 after reaching as high as $2,050. The previous multi-month high was due to positive sentiment surrounding its upcoming upgrade, the Merge. ETH is trading at around $1,850 after dipping by more than 2% in the last 24 hours. Other coins such as Ripple, Binance Coin, Polkadot, Dogecoin, Polygon, and Cardano have their share of losses. However, data for the more prominent capped altcoins indicates that Solana, Avalanche, and Shiba Inu are on the top as losers. Within 24 hours, they lost about 6% or more in their prices. Related Reading: Polygon Seen Breaching $1 This Week – Can MATIC Start An Uptrend? The trend is not different for the mid-cap and lower-cap altcoins as they also had huge losses. The overall effect has pushed the crypto market cap to lose up to $50 billion. The data is currently standing at $1.1 trillion as the cumulative value. Featured image from Pixabay, Chart from TradingView.com
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Shiba Inu (SHIB), dubbed to be the second largest dog meme coin, is nearing a breach as claimed by analysts. Shiba Inu provided roughly 50% to holders last week; outstripping major cryptocurrencies like Bitcoin and others BitWallet recently listed SHIB strengthening meme coin adoption SHIB price could be nearing a breach as hinted by the reduction of trade volume and thinned-out inflows SHIB’s bearish movement is ushered mainly with the drop in trading volume as well as inflows. But, analysts continue to be optimistic on SHIB. Many analysts have forecasted SHIB recovery following the 50% gains sired within the week. SHIB is said to have generated roughly 50% gains as seen in the past few days hinting a bullish momentum for holders. To date, Shiba Inu is considered to be the largest ERC-20 token among the top 1,000 whales on the network. More so, investors have been consistently buying SHIB from July to August 2022, capitalizing on the dip. Related Reading: Decentraland Momentum Pushes MANA Into Consolidation Phase’s Higher Rung SHIB Nosedives 7.60% According to CoinMarketCap, SHIB has been down by 7.60% or trading at 0.00001473 as of press time validating a bearish perspective for the dog meme coin. Evidently, the top 500 whale wallets on the network have amassed around 119 billion SHIB which are bought during the price recessions from July to August of 2022. The current SHIB holdings of whales are now worth $1.89 billion that sums up 5.91%. The whales’ action of accumulating SHIB hints a bullish movement or a breakout. Analysts are looking into a tremendous breach in SHIB brought about by intense accumulation and holding of SHIB investors instead of selling the tokens immediately. Increased Burnt Volume Intensifies SHIB Value Inevitably so, around 16.2 million SHIB tokens were quickly burnt in the past 24 hours or that is a whopping total of 410.37 trillion SHIB tokens. The burnt volume also validates the increase meme token value for long term. Hence, even if the burn rate actually dropped by as much as 79%, the intense and multiple SHIB burn transactions welled up to over 1 million SHIB tokens. Related Reading: SHIB On Fire – And A Bull Run Could Be Around The Corner – Here’s Why Analysts presume that the lack of momentum exhibited by SHIB may have triggered the price reduction which validates a bearish thesis. SHIB price has revealed phenomenal gains by 27000% as seen in the past few days. The SHIB price has an optimistic outlook and price prediction. In fact, many analysts claim that SHIB price may double by the end of the year or the early months of 2023. SHIB had a massive price reduction last year which triggered a tremendous buying activity. With the increase in demand, Shiba Inu also pumped up in price. SHIB total market cap at $8.1 billion on the daily chart | Source: TradingView.com Featured image from Cryptoglobe, Chart from TradingView.com
If you hold your moons in the vault you can ignore this post. Those that held moons outside the vault at the time of mainnet migration can use this tool to migrate their moons from the old testnet to Arbitrum nova: https://www.reddit.com/web/points-migration/mainnet Please take note of the following before getting started: Make sure to not…
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FLOW was trading higher on Thursday, as the token rallied upward following seven straight days of declines. The surge comes despite the global crypto market capitalization trading 1.14% lower as of writing. Shiba inu fell by nearly 10% in today’s session. FLOW FLOW was one of Thursday’s notable movers, as the token rebounded following seven […]
Jake Fraser believes that DAOs can let fans get involved from the scriptwriting process to the selection of actors who will play in a film.