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In the booming crypto sector, whales are known as large-scale investors who hold substantial amounts of a particular token or coin. Their actions can significantly impact the market, and their strategic moves often draw the attention of other traders and investors. Recently, it has been observed that whales are accumulating two popular cryptocurrencies, Shiba Inu and XRP, while also flocking to Tradecurve, a rising presale star.
Summary
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Shiba Inu, a meme coin that gained significant popularity due to its association with the Shiba Inu dog breed and the meme culture, has caught the attention of whales. These large investors have been stacking up on Shiba Inu tokens, potentially signaling their confidence in the project and its future prospects. This accumulation suggests that whales believe there is a potential for price appreciation in the coming days or weeks.
Recently, a well-known whale in the Shiba Inu community with an address of 0x40B3 attracted notice with a hefty purchase. According to blockchain analytics company Lookonchain, the top Shiba Inu holder purchased an astonishing 1.5 trillion Shiba Inu tokens.
This news caused a price rally as Shiba Inu traded hands at $0.000006816 with a market cap of $4B, jumping by 0.56% in the last day alone.
XRP, the digital asset associated with Ripple, has also seen increased whale activity. Despite the ongoing legal battles Ripple faces, whales seem to be accumulating XRP tokens. This accumulation could be driven by various factors, including potential positive developments in the legal proceedings or the belief that XRP’s price is undervalued at its current level.
On-chain data shows that cryptocurrency whales spent an extra $170 million in XRP in the days before the publication of the Hinman speech papers, as more information comes to light. When whales invest so much in one cryptocurrency, in this case, XRP, it typically signifies they anticipate price growth, which shows confidence in the overall cryptocurrency market.
The prospect of a positive price increase amid the drama displayed in the SEC against Ripple court battle intensifies. Currently, XRP has a value of $0.5035 with a market cap of $26.1B, which is a drop of 4.94% in the last 24 hours.
Another cryptocurrency that has attracted the attention of whales is Tradecurve—known for its unique features, such as a hybrid exchange model that allows all derivatives to be traded on one account and a focus on user privacy with no sign-up KYC checks. Tradecurve has been gaining popularity among traders, with over 10,000 registered users. Whales recognize the potential of this platform and have been stacking up on Tradecurve’s native tokens TCRV, indicating their confidence in its long-term prospects.
In the current online trading market, many traders are deterred by high fees that eat away profit margins, limited access to advanced trading tools, and a lack of transparency. By implementing a decentralized, borderless trading platform where all third-party mediators are eliminated, Tradecurve will offer the lowest trading fees among its peers.
On this platform, users can subscribe to automated & AI trading bots with a proven track record. These bots can analyze market data, identify patterns, and execute trades quickly and precisely, taking advantage of market opportunities.
And while many traditional trading platforms such as Gemini and Coinbase still lack a Proof of Reserves (PoR), which significantly reduces trust and could cause an FTX-style collapse, Tradecurve’s team has stated that it will implement its own PoR soon. By conducting regular audits and providing proof of reserves, exchanges can demonstrate that they have the required amount of cryptocurrencies or assets to back up their users’ balances.
The TCRV token will fuel this vast ecosystem and currently has a value of only $0.015. However, Stage 3 is almost over (91%), and another price increase is coming whe n Stage 4 begins with an expected rise to $0.018. Many experts have pointed to the Binance ICO as a reference point since it also started at a low cost of $0.150. With a forecasted 100x growth after its launch and subsequent listing on a significant CEX, Tradecurve may see the same or more tremendous price growth.
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Disclaimer: Any financial and crypto market information given on Analytics Insight is written for informational purpose only and is not an investment advice. Conduct your own research by contacting financial experts before making any investment decisions, more information here.
