Shiba Inu sees 87.7% surge in usage as new holders flood market
SHIB sees growing adoption as market sentiments increasingly become bullish and more enthusiasts are willing to hold the meme token.
Shiba Inu is witnessing a rapid increase in adoption as the recent market rally continues to fuel renewed interest in the asset, pushing its holder volume up.
As momentum continues to build, the Shiba Inu team has shared data from Etherscan revealing a substantial increase in the number of SHIB holders across the globe.
According to the data shared by the team, Shiba Inu recorded an 87.7% surge in the number of SHIB holders over the last seven days.
Apparently, this signals a rapid influx of new holders into the Shiba Inu ecosystem as the meme token recorded a net increase of 5,653 holders over the past seven days. As such, the number of wallet addresses holding SHIB tokens moved from a total of 1,562,990 on April 15 to 1,568,643 by April 21.
XRP Ledger to break 1 billion threshold sooner than expected
XRP's network is surging on multiple indicators, but it might not provide enough of foundation.
XRP's price chart is finally showing signs of a recovery, but the more intriguing development is taking place beneath the surface. Network activity is increasing to a point where usage patterns may change significantly.
After stabilizing from a downtrend, XRP is currently trading in the mid-$1.40 range on the market. The price is currently moving into a local resistance zone around $1.50 after forming a distinct support base near $1.30.
The asset is now moving above its faster moving averages, indicating an improvement in short-term momentum, but it is still below the longer-term trend lines, which are still sloping downward.
Moderate volume has supported the recent uptick but hasn't yet indicated a significant breakout. This is consistent with the overall structure, where XRP is trying to move from a phase of consolidation to one of recovery, though it hasn't been completely confirmed.
BlackRock spends $900 million on another Bitcoin purchase
BlackRock continues purchasing Bitcoin in large quantities as market sentiments flip positive and investors begin to show renewed interests.
BlackRock has continued to extend its large Bitcoin purchases since the broader crypto market began to see renewed interest following the prolonged rally seen in the previous months.
While institutional investors are increasingly doubling down on their Bitcoin investments, BlackRock appears to have just made its biggest weekly Bitcoin purchase of the year, which nearly reached a billion dollars.
This massive purchase has sparked discussions across the crypto community while also boosting investor confidence that the world's largest crypto asset may be set for a major price breakout.
Amid the rising demand for the Bitcoin investment product among institutional investors, Arkham Intelligence firm has provided data on Wednesday, April 22, revealing details of the massive Bitcoin purchase.
According to the data, the world's largest asset management firm, BlackRock, purchased a total of over $900 million worth of Bitcoin in just five days.
Dan Burgin
U.Today Editorial Team
