On Friday, Aug. 2, important Bitcoin trading activity was noticed as investors tried to raise its price after a decline. CoinGlass reported a 25.61% increase in Bitcoin trading volume, with nearly $83 billion traded in 24 hours. This bullish support pushed BTC's market cap to $1.27 trillion. Binance led trading with $23.56 billion, followed by Bitget at $14.51 billion, Bybit at $11.07 billion, and OKX at $10.77 billion.
$Shiba Inu Confirms Death Cross, Major Sell-Off
On Aug. 4, Shiba Inu's four-hour chart showed a death cross signal as its 50-period moving average fell below the 200-period moving average. This marks eight consecutive days of decline for SHIB, drawing market attention. The death cross indicates increasing bearish momentum short-term. Crypto Market data shows SHIB at $0.0000126, down 7.38% in the past 24 hours.
500 Million XRP Unlocked by Ripple and XRP Gains 5.56%
Ripple's regular withdrawal from escrow on Aug. 1-2, when one billion XRP was released, another 500 million XRP was unlocked on Aug. 3, valued at $282 million. Whale Alert blockchain tracker reported this large movement. Ripple's report states the company still holds 4.682 billion XRP in cold wallets. Ripple has been releasing XRP monthly for seven years to support market liquidity and provide XRP to institutional clients.
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