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1.99 Trillion SHIB in 24 Hours â Why Are Shiba Inu Whales Staying Put?
Activity from $SHIB
whales remains relatively low
Dog-themed cryptocurrency Shiba Inu (#SHIBŰ ) has seen 1.99 trillion SHIB in large transaction volume, according to data from #IntoTheBlock .
However, this massive figure represents a notable 35.41% drop in large transaction volume over the last 24 hours, signaling that the activity from SHIB whales or large holders remains relatively low.
The large transaction volume metric tracks large transactions, typically those valued at $100,000 or more, and serves as a barometer for whale activity on the market.Â
Large #transactions Volume, Courtesy: IntoTheBlock
According to IntoTheBlock data, Shiba Inu's large transaction volume, which provides an idea of the total amount transacted by whales, came to $34.25 million in the past day, or 1.99 trillion SHIB in crypto terms.
While nearly two trillion SHIB representing large transaction volume in a single day is certainly eye-catching, the accompanying 35% decline points to a cooling in whale activity. This decline may suggest that large holders are staying on the sidelines or opting for smaller moves, even as the market awaits the next big move.
Why are SHIB whales staying put?
Several factors could explain the decline in SHIB whale activity over the last 24 hours. Whales might be taking a wait-and-see approach after a sell-off at the start of the week. As the market faces selling ahead of today's Fed release, whales may be choosing to hold their positions until clearer trends emerge.
Memecoins rose over the past weekend as social sentiment and risk-taking among crypto traders increased. Shiba Inu also climbed three days in a row, reaching a high of $0.00001884 on Oct. 6 before facing profit-taking.
At the time of writing, Shiba Inu was down 1.75% in the last 24 hours to $0.00001718 after briefly reaching highs of $0.000018 in today's trading session. If today closes in red, #ShibaInu: would mark its third day of losses since Sunday's high of $0.0000188.
The current market uncertainty might have prompted whales to stay put, hence a decline in large transaction volume.
#moonbix
whales remains relatively low
Dog-themed cryptocurrency Shiba Inu (#SHIBŰ ) has seen 1.99 trillion SHIB in large transaction volume, according to data from #IntoTheBlock .
However, this massive figure represents a notable 35.41% drop in large transaction volume over the last 24 hours, signaling that the activity from SHIB whales or large holders remains relatively low.
The large transaction volume metric tracks large transactions, typically those valued at $100,000 or more, and serves as a barometer for whale activity on the market.Â
Large #transactions Volume, Courtesy: IntoTheBlock
According to IntoTheBlock data, Shiba Inu's large transaction volume, which provides an idea of the total amount transacted by whales, came to $34.25 million in the past day, or 1.99 trillion SHIB in crypto terms.
While nearly two trillion SHIB representing large transaction volume in a single day is certainly eye-catching, the accompanying 35% decline points to a cooling in whale activity. This decline may suggest that large holders are staying on the sidelines or opting for smaller moves, even as the market awaits the next big move.
Why are SHIB whales staying put?
Several factors could explain the decline in SHIB whale activity over the last 24 hours. Whales might be taking a wait-and-see approach after a sell-off at the start of the week. As the market faces selling ahead of today's Fed release, whales may be choosing to hold their positions until clearer trends emerge.
Memecoins rose over the past weekend as social sentiment and risk-taking among crypto traders increased. Shiba Inu also climbed three days in a row, reaching a high of $0.00001884 on Oct. 6 before facing profit-taking.
At the time of writing, Shiba Inu was down 1.75% in the last 24 hours to $0.00001718 after briefly reaching highs of $0.000018 in today's trading session. If today closes in red, #ShibaInu: would mark its third day of losses since Sunday's high of $0.0000188.
The current market uncertainty might have prompted whales to stay put, hence a decline in large transaction volume.
#moonbix
đ $WBTC #IntoTheBlock : 6% of all wrapped Bitcoin is currently staked through Bitcoin yield protocols.
đđ€ $BTC #IntoTheBlock : Historical MVRV Insights:
2017 Peak: 4.35
2021 Peak: 3.7
During the current cycle, MVRV peaked at 2.64, which seems relatively low to signal a market top.
2017 Peak: 4.35
2021 Peak: 3.7
During the current cycle, MVRV peaked at 2.64, which seems relatively low to signal a market top.
đ $ETH #IntoTheBlock : 1.89 million Ethereum addresses acquired a substantial 52 million ETH around the $2,350 range, highlighting strong historical demand at this price level.
This zone could serve as a key support for Ether moving forward.
This zone could serve as a key support for Ether moving forward.
đ€ #IntoTheBlock : The correlation of $ETH to traditional markets like the #Nasdaq 100 is currently significantly higher than that of $BTC
đ #IntoTheBlock : #Worldcoin leads on the Optimism Network with an average weekly transaction volume of over 1 billion & more than 2.5M holders.
đ $BTC #IntoTheBlock : Following every halving, miner revenue in USD plummets, but only for a short period.
Typically, The BTC price starts increasing shortly following the halving, leading to new highs in miner revenue within a year.
Typically, The BTC price starts increasing shortly following the halving, leading to new highs in miner revenue within a year.
Bitcoin And Ethereum Fees Increased Amid Market Rally, With Ethereum Hitting Year-High.
The cryptocurrency market is experiencing significant activity with both Bitcoin and Ethereum reaching yearly highs, resulting in a significant increase in transaction fees. A recent market rally sent Bitcoin reaching its annual peak price of $45,000 on December 5, before settling above $43,000. Following this rise, #IntoTheBlock reported on December 8 that Bitcoin's on-chain activity increased, leading to a more than 60% increase in transaction fees.
#Ethereum also showed significant growth, hitting a yearly high of $2,390 on Friday. This latest milestone comes with daily gains exceeding Bitcoin's incremental rise. Despite Ethereum's success in price and increase in whale dominance â these large holders now own 35% of the total supply â there has been no corresponding increase in new user acquisition for the network.
The increase in Bitcoin's transaction fees has outpaced that of Ethereum, which saw a fee increase of nearly 50%. This fee inflation typically indicates an increasing demand for transactions on each blockchain and often reflects increased investor interest and market activity.
The market is closely monitoring these developments as both cryptocurrencies are performing strongly. The increase in fees underscores the rising costs associated with increased demand for blockchain space, especially during market rallies. Investors and users are now navigating an environment where increased activity can lead to higher costs for transacting on these networks.
$BTC $ETH
The cryptocurrency market is experiencing significant activity with both Bitcoin and Ethereum reaching yearly highs, resulting in a significant increase in transaction fees. A recent market rally sent Bitcoin reaching its annual peak price of $45,000 on December 5, before settling above $43,000. Following this rise, #IntoTheBlock reported on December 8 that Bitcoin's on-chain activity increased, leading to a more than 60% increase in transaction fees.
#Ethereum also showed significant growth, hitting a yearly high of $2,390 on Friday. This latest milestone comes with daily gains exceeding Bitcoin's incremental rise. Despite Ethereum's success in price and increase in whale dominance â these large holders now own 35% of the total supply â there has been no corresponding increase in new user acquisition for the network.
The increase in Bitcoin's transaction fees has outpaced that of Ethereum, which saw a fee increase of nearly 50%. This fee inflation typically indicates an increasing demand for transactions on each blockchain and often reflects increased investor interest and market activity.
The market is closely monitoring these developments as both cryptocurrencies are performing strongly. The increase in fees underscores the rising costs associated with increased demand for blockchain space, especially during market rallies. Investors and users are now navigating an environment where increased activity can lead to higher costs for transacting on these networks.
$BTC $ETH
đ $BTC #IntoTheBlock : On March 23rd, Large Bitcoin holders added nearly 80,000 BTC to their holdings as the price hovered around $64K. This strong accumulation appears to be a key driver behind Bitcoin's move back to the $70K range.
đ $TRX #IntoTheBlock : The number of daily active #TRON addresses has been growing for the past month, increasing by 55% from ~1.3 million to over 2 million!
đ€ #IntoTheBlock : $BTC halving is coming up in April, and this cycle looks very different from previous ones!
Historical patterns show an upswing in price post-halving events, yet this cycle the bitcoin price has rallied earlier than expected and has already broken previous all-time highs. This could indicate that investors are frontrunning the 'halving effect' well in advance.
Historical patterns show an upswing in price post-halving events, yet this cycle the bitcoin price has rallied earlier than expected and has already broken previous all-time highs. This could indicate that investors are frontrunning the 'halving effect' well in advance.
đ #IntoTheBlock : The amount of $ETH transferred on Mainnet reached its highest since May 2022 this week
đą $ETH #IntoTheBlock : Last quarter, $4 billion worth of ETH was withdrawn from exchanges, indicating significant accumulation by holders.
đł $ADA #IntoTheBlock : Cardano whales are busy, with an average large transaction volume of $13.84B a day in the last 7 days.
For comparison, this is a third of Bitcoin's current volume, 5x as much as Litecoin's volume and over 16x that of Dogecoin.
For comparison, this is a third of Bitcoin's current volume, 5x as much as Litecoin's volume and over 16x that of Dogecoin.
đ #IntoTheBlock : Optimism's $OP token has been outperforming with a 48% increase from its lows on April 13.
Thanks to this increase, it has once again surpassed $ARB in market cap.
Thanks to this increase, it has once again surpassed $ARB in market cap.
đ $ETH fees hit a 6-month low, reflecting a shift in activity to over 50 live Layer 2 networks.
This aligns with Vitalik Buterin's 2020 roadmap aiming to enhance scalability by offloading transactions from the Mainnet, according to #IntoTheBlock .
An increasing number of transactions are now being settled on Ethereum Layer 2s. Last month, the three largest L2s hit a record 82% transaction share of all Ethereum transactions.
This aligns with Vitalik Buterin's 2020 roadmap aiming to enhance scalability by offloading transactions from the Mainnet, according to #IntoTheBlock .
An increasing number of transactions are now being settled on Ethereum Layer 2s. Last month, the three largest L2s hit a record 82% transaction share of all Ethereum transactions.
đ #IntoTheBlock : Despite $PEPE 's impressive performance this month, just 170k addresses currently hold PEPE. This is still significantly lower than $SHIB 's 1.3M and $DOGE 's 6.3M holders.
đ€ $BTC $ETH #IntoTheBlock : While long-term Bitcoin holders have started selling their holdings, Ethereum holders are shaking things up. New yield opportunities in the ETH ecosystem and anticipation of an Ethereum #ETF could be driving this divergence.
đ€ $ETH #IntoTheBlock : This chart presents the USD net flows from Ethereum Foundation wallets.
Historically, during each bull market, the Foundation has strategically sold substantial amounts, often aligning these sales almost perfectly with market peaks.
In the current cycle, the #EthereumFoundation has yet to execute any significant sales.
Historically, during each bull market, the Foundation has strategically sold substantial amounts, often aligning these sales almost perfectly with market peaks.
In the current cycle, the #EthereumFoundation has yet to execute any significant sales.
đđł $BTC #IntoTheBlock : Despite market #FUD , the net inflow to Bitcoin's largest wallets reached its highest level since late May.
Holders controlling at least 0.1% of the total #Bitcoin supply added 7,130 BTC, valued at approximately $436 million, to their wallets yesterday alone.
Holders controlling at least 0.1% of the total #Bitcoin supply added 7,130 BTC, valued at approximately $436 million, to their wallets yesterday alone.
