According to U.Today, recent developments in the cryptocurrency market have captured significant attention. Tony Severino, founder of CoinChartist and head of research at NewsBTC, highlighted on the X platform that XRP's monthly Bollinger Bands are currently the tightest they have ever been. This observation is noteworthy as the last time such a tight squeeze occurred, XRP experienced a remarkable 60,000% price rally that concluded in 2018. The shrinking gap between the upper and lower bands indicates low volatility, which is often followed by a significant price movement. XRP enthusiasts are hopeful that this period of low volatility could signal a substantial price increase. As of the latest data, XRP has risen by 5.75% in the past 24 hours, trading at $0.6514 according to CoinMarketCap.
In another development, the U.S. government holds a significant amount of Shiba Inu (SHIB) tokens. Data from Arkham Intelligence reveals that the government possesses 54.897 billion SHIB tokens. This makes Shiba Inu the only asset among 100 others to have its quantity recorded in billions. The current value of these holdings, given SHIB's price of $0.00001642, is approximately $899,210. While the value may seem modest, some market analysts speculate that the government might be holding onto the meme coin in anticipation of a future price increase before selling it off.
Additionally, Lookonchain, a popular X handle known for sharing the latest cryptocurrency data, reported the activity of an Ethereum ICO participant who has been dormant for nine years. This Ethereum whale recently transferred 1,111 ETH, worth $3.7 million, to a new wallet. The transactions were carried out in four parts, moving 1,000, 100, 10, and 1 ETH respectively. The whale's total holdings amount to 2,000 ETH, which were acquired during 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, reflecting a staggering increase of 1,077,560%.
