Binance CZ Makes Bold Prediction Regarding BTC Halving, SHIB Triggers 1,500% On-Chain Spike, Millions of XRP on Move to New Destination: Crypto News Digest by U.Today

U.Today has prepared the top three news stories over the past day.

Binance CZ makes bold Bitcoin prediction regarding coming BTC halving

In a recent post on Binance Feed platform, Binance CEO Changpeng Zhao (CZ) shared his view on what to expect before and after the BTC halving event takes place. As CZ stated, he cannot predict the future, but based on his experience of the previous three halvings, he managed to single out three consistent patterns of community behavior. First, usually a few months before the event, there will be more anxiety, expectations and hype. Second, the day after halving, BTC's price "will not double overnight," and people will start asking why. Third, the year after halving, Bitcoin will begin hitting various all-time highs, and yet again, people will ask why. "People have short memories," the Binance CEO summed up his post.

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Shiba Inu (SHIB) triggers 1,500% on-chain spike, what's going on?

Even though the price of Shiba Inu is currently decreasing due to the general market sell-off, the market watchers spotted a rather interesting picture. According to IntoTheBlock data, Shiba Inu large holders' inflow spiked by 1,587% from Oct. 7 to Oct. 8, jumping from 169 billion SHIB to 2.98 trillion SHIB. Since large holders prefer purchasing huge amounts of tokens after significant price decreases, a surge in large holder inflows could foreshadow market bottoms. Per Santiment analytics firm, the Shiba Inu network might be nearing capitulation or bottoming as it recently saw one of the greatest levels of trader loss-taking v. profit all year. However, traders should keep in mind that the market goes through different phases, and a bear cycle never lasts forever. SHIB is currently trading at $0.000006884, per CoinMarketCap.

Ripple selling? Millions of XRP on move to new destination

Data provided by crypto data tracker Whale Alert shows that yesterday, Ripple transferred 60 million XRP worth $30,985,299 to an unnamed wallet. An unknown wallet also moved 29 million XRP (equal to $15,042,010) to the Bitstamp crypto exchange. In total, 89 million XRP were transferred to new destinations. Ripple's 60 million XRP transfer could be an OTC transaction that occurs outside of a crypto exchange, while the shift of 29 million XRP to Bitstamp could have various reasons behind it; the first one could be selling, the other two include staking and airdrops. Yet, the exact reasons for both token shifts remain unknown. At the time of writing, XRP is changing hands at $0.493, per CoinMarketCap.