The cryptocurrency market shows significant changes, including increased investor activity and shifts in reserves on major platforms.
Shiba Inu and Whale Enthusiasm
From August 12 to 13, there was a surge in whale activity in Shiba Inu (SHIB). During this period, 351.6 billion SHIB was moved, marking a 40% increase compared to the previous day. Whale activity indicates substantial transfers, yet the price of SHIB remained relatively stable around $0.000014. This may suggest that major holders are parking tokens in cold wallets rather than selling them on the market.
Ethereum: Holders in Profit
According to IntoTheBlock, all Ethereum (ETH) holders are currently in profit. At present, 98.81% of the 148.2 million ETH were purchased below the current market value. This suggests a high likelihood that investors prefer holding the asset in anticipation of a new all-time high (ATH). The price of Ethereum, hovering around $4,891.70, sparks expectations among traders, as many in the market are looking for a breakout at the $5,000 level.
XRP: Coinbase Reserves Decline
XRP reserves on Coinbase have decreased by 57.4% since early June. The exchange now holds about 26.8 million XRP across 10 wallets and another 16.8 million XRP across 42 wallets. Analyzing the movements, experts suggest that XRP may be directed towards platforms such as Bitstamp or Ripple's ODL network. The decline in reserves may indicate a reduction in Coinbase's influence over large XRP flows in the future.
Changes in the cryptocurrency market reflect the dynamics of large investors' activity, with Shiba Inu and Ethereum drawing particular attention. The situation with XRP on Coinbase also indicates new trends in the usage of tokens.
