XRP started to rise on Thursday after investment fund Grayscale launched a professional fund that holds the token in the U.S., while DOGE gained on no apparent catalyst.
Despite the lack of movement over the past 24 hours, bitcoin has risen more than 6% this week, putting it on track for its biggest one-week gain since the week ended Aug. 25, when it rose 10%.
Santiment, an on-chain analysis tool, noted earlier this week that there has been a steep drop in activity by so-called whales – or large holders of a specific cryptocurrency – over the past month. That's a sign the influential market participants are looking for a clear signal before deploying large amounts of capital.
Bitcoin transfers of over $100,000 have fallen 33.6% since a peak in March and April, Santiment said. Ether has fared worse, with a 72.5% drop, a peak in April.
