SHIB whale activity surges
Shiba Inu (SHIB) witnesses explosive 40% spike in overnight whale activity.
- Surge in transfer. Aug. 12–13 saw 351.6 billion SHIB moved from large wallets — up 40% from the prior day’s 240.13 billion.
Shiba Inu (SHIB) just experienced one of its busiest nights in weeks, with major holders transferring 40% more tokens than the previous day, as per IntoTheBlock. From Aug. 12 to 13, the amount of SHIB flowing out of large wallets increased from 240.13 billion to 351.6 billion, putting a massive portion of the supply in motion in less than 24 hours.
Large outflows can indicate two different things: coins being sent to exchanges for sale or coins being sent from exchanges to private storage. Interestingly, SHIB’s price did not sink when the outflows spiked.
- Price action. Stayed near $0.000014 despite heavy flows.
Instead, it held steady at around $0.000014, leaning more toward the idea that whales are parking tokens in cold wallets rather than selling them on the market.
Over the same period, SHIB's chart showed a push toward $0.00001425, a dip to approximately $0.00001360 and then a slow climb back to $0.0000138. There was no big sell-off or panic candles - just a back-and-forth range that suggests buyers were ready to take whatever supply was available.
ETH holders in full profit
Ethereum has no single holder in losses at moment amid shift to new ATH.
- 98.81% in profit. 148.2 million ETH ($704.29B) bought below current price.
In a historic development, Ethereum (ETH), the leading altcoin, is bullish, with all of its holders in profit. In the last 24 hours, activities in the Ethereum ecosystem have been on an upward trajectory in terms of price and volume outlook.
According to IntoTheBlock data, a total of 148.2 million ETH valued at $704.29 billion are "In the Money." This reflects 98.81% of Ethereum holders. This implies that these investors bought the asset at a price lower than the current market price.
- Low sell pressure. Holders likely waiting for a new ATH.
Interestingly, no holder is "Out of the Money." Meanwhile, only 1.19% of holders are "At the Money." These holders account for 1.79 million ETH worth $8.52 billion. These investors bought Ethereum at around $4,752.
The implication of this for the leading altcoin is that there is minimal sell pressure on holders. With all investors in profit, they are likely to hold off selling their asset with anticipation of a new all-time high (ATH).
- Price target. Market watching for $5K breakout.
The market had been agitated when a major Ethereum ICO whale went for profit in a fresh batch of sales less than 48 hours ago. However, the current development suggests that sell pressure has dropped.
Surprisingly, despite the bullish outlook of Ethereum, the asset remains about 3% away from flipping its ATH of $4,891.70 set about four years ago. This has sparked concern among some market participants, who were anticipating the ETH price to hit $5,000.
Coinbase XRP reserves down 57.4% since June
Major US exchange Coinbase slashes XRP holdings by 57.4% as transfers accelerate.
- Reserve decline. XRP holdings spread across 52 cold wallets.
Coinbase's XRP reserves have been dropping for months, and new on-chain data show the decline has hit 57.4% since early June. The exchange used to hold almost a billion XRP across 52 cold wallets, but now it is down to about half that, with more big transfers this week.
Right now, 10 wallets still hold about 26.8 million XRP each, and another 42 wallets hold about 16.8 million XRP. One of the latest moves saw 16.69 million XRP - worth about $54.83 million - moved from Coinbase Cold Wallet 155 to Coinbase Cold Wallet 10. It was an internal transfer.
- Possible destinations. Bitstamp, BitGo, Ripple’s ODL network; or internal reserve reorganization.
The destination of these coins is unclear. Analysts believe the transfers are feeding new subwallets tied to Bitstamp, BitGo and Ripple's On-Demand Liquidity network. Others think Coinbase is reorganizing reserves to position itself for usage or price changes.
There is no sign of disorder or panic selling in the way these transfers are being handled. The amounts and timing suggest that there was a lot of planning involved, with an emphasis on where assets are located so they can be accessed efficiently.
- Usage trend. Coinbase’s influence over large XRP flows may shrink.
Coinbase is not holding as much XRP as it used to, and that is because more and more people are interested in using the token for payments and cross-border transactions. If this trend keeps up, Coinbase might not have as much control over the big XRP flows, and more of the asset might be moving through other exchanges and custodial channels.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team