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We summarized the top three news stories from the previous day so that you don't miss any major events in the world of crypto.
Last time this happened, XRP price saw 60,000% rally
Tony Severino, founder of CoinChartist and head of research at NewsBTC, has recently taken to X platform to point out that XRP's monthly Bollinger Bands "are the tightest ever." Based on Severino's observations, they are even tighter than they were before the remarkable 60,000% XRP price rally that ended in 2018. If the gap between the upper and lower bands is shrinking, as in XRP's current case, it means that the asset is experiencing relatively low volatility. It is worth noting that a period of extremely low volatility is typically followed by a squeeze. XRP bulls are hoping that this extremely unusual low volatility could indicate a substantial price increase. At the moment of writing, XRP is up 5.75% over the past 24 hours, trading at $0.6514, per CoinMarketCap.
Mushumir ButtHere's how many Shiba Inu (SHIB) U.S. government holds
With growing popularity and adoption of various altcoins, traditional institutions started paying more attention to this type of digital asset in addition to Bitcoin, the largest cryptocurrency. Among them is Shiba Inu; according to recent data by Arkham Intelligence, the Shiba Inu holdings of the United States government constitute an astonishing 54.897 billion meme tokens. It is notable that Shiba Inu is the only asset out of 100 that recorded its quantity in billions. The current value of such an amount of SHIB, given the token's price of $0.00001642, stands at $899,210. Even though SHIB's value may seem insignificant at present, some market analysts speculate that the U.S. government may be holding onto the meme coin in anticipation of its future price increasing before offloading it.
Ethereum ICO wallet transfers millions in ETH
Lookonchain, a popular X handle that shares the latest cryptocurrency data, has recently registered the activity of an Ethereum ICO participant that has come back to life after nine years of dormancy. This ETH whale transferred 1,111 ETH worth $3.7 million to a new wallet. The assets were moved in four transactions, carrying 1,000, 100, 10 and 1 ETH. The whale's total holdings stand at 2,000 ETH, which were received at Ethereum's genesis. Back in 2015, the price per ETH was $0.31, making the total purchase worth $620. At the current market rate, the value of this 2,000 ETH is $6,681,471. The difference between the $620 the whale paid for the ETH at the time and its current worth is a staggering 1,077,560%.
Yuri Molchan
Denys Serhiichuk