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Cardano, Dogecoin, Shiba Inu Post Gains Amid Inflows into Crypto Market

Thu, 07/28/2022 - 15:04
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Tomiwabold Olajide
Cardano, Dogecoin and Shiba Inu recorded gains in past 24 hours
Cardano, Dogecoin, Shiba Inu Post Gains Amid Inflows into Crypto Market
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Cryptocurrencies traded higher following the Federal Reserve's announcement that interest rates would be increased by 0.75 percentage points on Wednesday. At the time of publication, Cardano, Dogecoin and Shiba Inu were recording gains, posting a 24-hour positive change of 4.16%, 4.11% and 4.02%, respectively.

Over the last 24 hours, Cardano (ADA) reported massive whale trading volumes, ranking among the top 10 by trading volume among the 100 biggest BSC whales, per WhaleStats data.

In other positive news, ADA payments are accepted by the clothing line, Origin Threads, which also uses the Cardano blockchain for authenticity verification.

As reported by U.Today, the upgraded Dogecoin website is now live, exiting the preview mode it had been in earlier. In the past week, Dogecoin developers released the core update version 1.14.6, which included important security updates and changes to network efficiency.

Shiba Inu is also actively traded by whales as it ranked among the top 10 by trading volume among the 500 biggest ETH whales in the last 24 hours. This comes as two top ETH whales acquired a whopping 527 billion SHIB. According to WhaleStats, ETH whale "BlueWhale0159" ranked 401st bought 120,000,000,000 SHIB valued at $1,369,200.

Another ETH whale, "Gimli," had also bought 407,500,000,000 SHIB valued at $4,592,525.

Inflows into crypto market

The total crypto market capitalization saw a 5.86% increase to a record 1.05 trillion at the time of publication, suggesting inflows into the market.

In the past week, Coinshares reported that digital asset investment products saw inflows totaling $30 million. Bitcoin saw inflows totaling $19 million, while Ethereum recorded inflows of nearly $8 million.

Cardano investment products saw inflows totaling $1.4 million, in comparison with other crypto assets, which recorded no inflows.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.