Category: Cryptocurrency News

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According to Peak Mining, a subsidiary of the German bitcoin mining and infrastructure firm Northern Data, the company has announced the purchase of a 300-megawatt ERCOT-approved site in Corpus Christi, Texas. The site is adjacent to another location acquired by the firm in December 2023. Peak Mining Purchases ERCOT-Approved Texas Site Northern Data’s Peak Mining […]

On-chain data suggests that large investors have been showing interest in Shiba Inu recently as they have been moving a high number of SHIB transfers. Shiba Inu Large Transactions Have Been High In Number Recently As pointed out by an analyst in an X post using data from the market intelligence platform IntoTheBlock, the Shiba Inu whales have been on the move over the past month. The on-chain indicator of interest here is the “Number of Large Transactions,” which tracks the total number of transfers on any cryptocurrency network exceeding $100,000 in value. Generally, only the whale entities are capable of making such large transfers, so the Number of Large Transactions may be considered to reflect the activity of these giants. Related Reading: Analyst Says “Only A Matter Of Time” Before Bitcoin Flies Past ATH When the value of this metric is high, it means that the asset is observing a large number of large moves currently. Such a trend may be a sign that the whales are actively interested in cryptocurrency right now. On the other hand, the indicator being low could suggest the whales are looking at other markets at the moment as they aren’t making many transactions for the asset. Now, here is a chart that shows the trend in this indicator for Shiba Inu over the last month or so: As the above graph shows, the number of large transactions for Shiba Inu has shown relatively high values at different points in the past month and has also appeared to be climbing during the last few days. The lower chart shows the data for another metric, the “Large Transactions Volume.” This indicator measures the total volume of transactions greater than $100,000 combined moving on the network every day. It would appear that while the number of transfers happening on the network right now is similar to that seen during the spike earlier in the month, the volume back then was notably larger. This would naturally suggest that the whale transfers currently taking place aren’t of the same scale. Nonetheless, the metric isn’t at particularly low levels, either. “Large whale transactions have amassed around 30 trillion SHIB in May, making Shiba Inu one of the most traded tokens by whales so far this month,” notes the analyst. Related Reading: Is $77,600 The Next Step For Bitcoin? On-Chain Pricing Model Hints So Now, what does this high whale activity mean for the memecoin’s price? Since these indicators don’t differentiate between buying or selling transactions, it’s hard to say anything about where the coin might go based on them alone. One thing, however, that’s usually true is that whales being active can induce higher volatility in the price. As such, Shiba Inu may be more likely to witness sharper price action if these humongous entities continue to make moves. SHIB Price At the time of writing, Shiba Inu is floating around $0.0000241, down more than 2.5% over the last seven days. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com

An independent probe found that Sullivan & Cromwell was not complicit in the now-defunct exchange’s fraud.

Happy Friday All, I hope you're doing well today. My daughter had a school performance this morning so I was not able to send these out at my normal time, dad first! So what have I learned over the past 6 months? Anything is possible and the trajectory of a token can change in the…
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Despite having fathered at least 10 children, Musk also seems to think humans will struggle to find meaning in their lives without employment.

Since his arrest in March 2023, Do Kwon has been in Montenegro. He could be extradited to either his native South Korea or the United States to face fraud charges.

Following the approval of several spot ethereum exchange-traded funds (ETFs) in the U.S., ether’s price has been rather subdued, ranging between $3,640 to $3,740 over the last 12 hours. There’s wasn’t really any substantial upticks other than when the rumors of the approval fueled the previous rise. Market observers are questioning whether or not a […]

A Montenegro appeals court has reversed an order to extradite Do Kwon, the cryptocurrency entrepreneur behind Terraform Labs, to South Korea. Kwon is wanted for his alleged role in the company’s collapse, which caused a $40 billion loss and impacted global crypto markets. Both South Korea and the U.S. have sought his extradition on fraud […]