XRP whales have taken advantage of the price decline recorded in the crypto market to fill up their bags. These large investors have been rapidly buying up the tokens and increasing the percentage of supply they hold. In the last month, the holdings of these large whales have seen a significant uptick, sending their cumulative total holdings to one of the highest it has ever been. Gobbling Up The Coins Data from Santiment shows that the holdings of XRP whales with 100,000 to 10 million coins on their balances have jumped more than 6% in the last five weeks. These whales had held around 11% of the total XRP supply in mid-November following the crash of the FTX crypto exchange. But since then, they have increased their holdings by millions. Related Reading: What Ethereum’s Rejection At $1,350 Says About The Cryptocurrency Presently, the total percentage of supply held by these large whales is hovering around 18%. The chart below shows a clear uptrend in the last month where the holdings of these whales have increased, especially those holding between 1 million to 10 million coins. Whale holdings up in five weeks | Source: Santiment The same trend is also seen among wallets holding above 10 million coins. These wallets now hold a larger majority of the total supply at 71.67%, up from the 70.8% recorded in mid-November. So in total, addresses holding 100,000 coins and above now command around 90% of the total XRP supply. Will XRP Rally From Here? XRP’s price is currently moving in tandem with the crypto market which is still feeling the effects of Wednesday’s FOMC announcement. However, this clear accumulation trend among XRP whales could hint at a possible decoupling of the digital asset’s price from the broader crypto market, leading to a rally. XRP recovers above $0.38 | Source: XRPUSD on TradingView.com With prices so low, a lot of investors are not looking to sell their coins, but rather are investing for the long term. If the available supply continues to go to investors who are long-term holders, then such demand could result in a supply squeeze. Related Reading: FUD Intensifies: Can Binance Survive Or Is This The End? The Santiment data also shows accumulation even among smaller addresses, so it is possible that XRP would test the $0.4 resistance level before the week is over. The low volatility associated with weekend markets could get in the way of XRP’s rally but it could also be a blessing in disguise to help the cryptocurrency hold any gains it may register between Thursday and Friday. XRP is trading at $0.38 at the time of this writing. It remains the sixth largest cryptocurrency with a market cap of approximately $19.2 billion. Featured image from Jackobian Forums, chart from TradingView.com
The cryptocurrency exchange has offered a crypto/fiat Visa card in Brazil since last year and is expanding rapidly on international markets.
The former 45th president of the United States, Donald Trump, announced the launch of his new non-fungible token (NFT) trading cards on Dec. 15, 2022. Trump revealed the NFT collection via his Truth Social account and the former president told his fans that the NFTs would “make a great Christmas gift.” Former President Drops the […]
Organizations led by German fintech etonec designed a system that takes advantage of zk-SNARK to provide untraceable transactions within regulatory limits.
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Venture capital firms have a tendency to dump tokens and collapse prices. Community-based funding models could fix the problem.
“This may increase the risk of customers becoming involved in money laundering or terrorist financing,” said De Nederlandsche Bank.
Announcing the Ceremony Grants Round! 🕯 Twitter thread Full post Form – Apply before Jan 31st The Ethereum community is running a Powers of Tau ceremony to enable EIP-4844 🕯 As a refresher, check out this summary thread about this crucial prerequisite on the path towards our network scaling. The Ceremony will remain credible &…
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Here you customize your shit token in a matter of seconds. Adding burning and/or trading fees on every transaction and also allow more tokens to be minted. https://preview.redd.it/sux9p207v46a1.png?width=1595&format=png&auto=webp&s=297743f6e763c2de280557bef9dccd859dc7726f Symbol: The token ticker Token Supply: Amount to mint at creation Token Name: The full name of the token Decimals: 18 is the standard. After the basics…
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