Vitalik Buterin, co-founder of Ethereum, recently transferred 800 ETH, valued at approximately $2.01 million, to a multi-signature wallet. 
Shortly after, the wallet converted 190 ETH to 477,000 USDC. This sparked curiosity and speculation within the crypto community about the purpose behind these moves. According to Lookonchain, a blockchain analysis platform, Buterin’s wallet, identified as “vitalik.eth,” made the transfer 40 minutes before the tweet.
The multi-signature wallet, which requires multiple signatures to authorize transactions, subsequently swapped 190 ETH for 477,000 USDC, a stablecoinpegged to the U.S. dollar.

Bulls could not hold the initiative until the end of the week,according to CoinMarketCap.
Top coins by CoinMarketCap
DOGE/USD
The rate of DOGE has dropped by 1.83% since yesterday. Over the last week, the price has risen by 6.36%.
Top coins by CoinMarketCap
DOGE/USD
The rate of DOGE has dropped by 1.83% since yesterday. Over the last week, the price has risen by 6.36%.
Image by TradingView
On the daily chart, the price of DOGE remains bearish while it is below the resistance level of $0.1147. However, if a breakout happens, there is a chance of a test of the $0.12-$0.1250 area next week.
DOGE is trading at $0.11 at press time.
SHIB/USD
The price of SHIB has gone down by 2.02% over the last day.🕰️
Image by TradingView
From the technical point of view, the rate of SHIB is trading similarly to DOGE.
If buyers seize the initiative and restore the price to the upper level, traders may witness a breakout followed by a move to the $0.000017 range.
SHIB is trading at $0.00001514 at press time.

Shibarium, Shiba Inu's layer-2 network, has recorded a 1,538% increase in daily transactions, according to the most recent data.
On Tuesday, Shibarium recorded 28,680 transactions. This represents a massive jump compared to the 1,740 transactions the network logged on Thursday. 
The Shibarium network, which was launched last August, has now processed more than 416 million transactions. 
Shibarium's transaction growth has been rather stagnant since April. After the recent uptick, it remains to be seen whether the network will be able to break its multi-month streak of languishing.
Last December, for comparison, Shibarium was experiencing abnormal activity, roughly more than seven million transactions per day. The network went from less than 10 million transactions in early December to a whopping 237 million transactions by January.
As reported by U.Today, Shibarium recently introduced a burn portal for the Shiba Inu community that could potentially make it possible to burn a portion of the meme coin's total supply and boost its price. This became possible with the adoption of EIP 1559, which introduced the concept of the "base fee."
The base fee gets locked in a burn contract after each transaction on the Shibarium network. For now, 100 BONE tokens are required for initiating a single burn. While 70% of the base fee gets destroyed, its remaining portion goes to the treasury. 
Total BONE transfers have now surpassed 1.8 million on the Shibarium network. However, the number of new BONE transfers has remained steadily below 1,000 since May. 

Shiba Inu (SHIB): What's Happening? Is This Bitcoin (BTC) Resistance Unbreakable? Ethereum (ETH) On Verge of Fundamental Crisis?
Sat, 17/08/2024

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.The price of Shiba Inu has moved very little or not at all over the past few weeks continuing to be stuck in a deadlock. SHIB has made multiple attempts to move outside of its current trading range but hasn't been able to build much momentum which has left investors and traders uneasy.  By examining the available market and on-chain data it is evident that SHIB is presently stuck in a small trading range with its price circling around $0.0000134. The 200-day and 100-day exponential moving averages (EMAs) coincide with the resistance levels at $0.00001813 and $0.00001597 respectively which are important to keep an eye on. 

A more forceful upward trend may follow if SHIB is able to break above these levels which may indicate the end of this protracted period of stagnation. Support at $0.00001200 is still crucial on the downside. SHIB may enter a deeper correction if a decline occurs below this level which might lead to additional declines.
This might prolong the current impasse even more which would be especially worrisome for those looking for a bullish reversal. On-chain indicators point to a lack of significant buying interest which is consistent with the mixed overall market sentiment surrounding SHIB. Because traders are being cautious and waiting for a clear directional move before committing to new positions the trading volume has remained relatively low.
Bitcoin can't break through
The 50-day exponential moving average on the chart which is $61,000 represents a significant resistance level that Bitcoin recently encountered. Four times in a row Bitcoin has failed to break through this barrier despite multiple attempts indicating that this resistance may be more strong than first thought. For traders and investors failing to break above $61,000 is worrisome because it could signal a period of inactivity for the price of Bitcoin.

Table of Contents
Key PointsBitcoin’s Continuous DeclineLong Bitcoin Liquidations
Key Points
Bitcoin (BTC) has experienced a significant decline, causing over $142 million in liquidations.The number of new Bitcoin addresses has also shown volatility, reflecting market instability.
Bitcoin’s value has seen a significant drop in recent days. This has led to a large volume of liquidations, affecting traders and investors navigating through these volatile conditions. Such conditions have contributed to the recent fluctuations in market sentiment.
Bitcoin’s Continuous Decline
Analyzing Bitcoin (BTC) on a daily timeframe chart shows its most significant decline in four months. On 2nd August, BTC fell by 5.93%, from around $65,293 to approximately $61,418. This marked the largest single-day decline since April.
By the end of trading on 3rd August, BTC had slipped further to about $60,674, marking a 1.24% decline and falling below the $61,000 price range. As of this writing, Bitcoin is trading at around $60,143, marking a further nearly 1% decrease.
Long Bitcoin Liquidations
Bitcoin has seen a significant volume of long liquidation in the past week. Over the last two days, the total liquidation volume exceeded $142 million. On 3rd August, the liquidation volume was nearly $60 million, with long positions accounting for almost $43 million.
The total liquidation volume in the previous trading session reached approximately $83 million, with long positions making up nearly $67 million. The funding rate has also shown volatility over the past few days.
The number of new Bitcoin addresses has also shown volatility. In the last three days, there has been a significant decline in the number of new addresses. This decrease may reflect a cautious sentiment among potential new participants in the market amid the current price instability.

In a recent price analysis, a crypto analyst has highlighted a crucial support level for Bitcoin (BTC), emphasizing the possibility for the pioneer cryptocurrency to plummet significantly to new lows if it fails to maintain certain key levels. 
Bitcoin Risks Crash To $42,000
On August 1, the pseudonymous crypto analyst DonAlt shared an in-depth price analysis and future outlook of Bitcoin on the TechnicalRoundup YouTube channel. According to the analyst Bitcoin could experience a potential price crash to $42,000 if it fails to hold the critical support level at $63,000. 

On Sunday, President Biden announced he will not seek reelection in November, adding to uncertainty about who will be in the White House in 2025.
Stocks appeared to shrug off worries related to the election, with the S&P 500 rising over 1% on Monday. Investors also gained clarity over the state of the Democratic ticket, as Biden was joined by several prominent Democrats, most notably Speaker Emerita Nancy Pelosi, in endorsing Vice President Kamala Harris as the nominee.
In a note to clients on Monday, RBC Capital Markets head of global equity strategy research Lori Calvasina wrote the news added "yet another curveball" for investors trying to digest how political news will impact the stock market in 2024.
A key driver for stocks lately has been investor confidence in who the next president will be. As odds rose in betting markets that former President Donald Trump would win November's election, stocks also rose. When Trump's odds peaked around July 16, the S&P 500 hit its most recent high.
"If the change at the top of the ticket swings momentum in the race for the White House back to the Democrats, the historical relationship suggests that it could be fuel for a short-term pullback that may already be underway," Calvasina wrote.
"If Trump expands his lead, the historical data suggests that stocks may avoid the pullback we’ve been worried about. But it’s possible this relationship won’t hold up."
Roundhill Investments CEO Dave Mazza echoed a similar sentiment in an interview with Yahoo Finance on Monday, noting that if a new Democratic nominee pushes markets to expect a closer presidential race, investors should expect "more volatility."
Mazza added that the upcoming weekin markets could be "messy" overall, with the start of Big Tech earnings as well as readings on economic growth and inflation all coming alongside the ongoing political upheaval.
"The biggest headlines for the near term are going to be what happens with the presidential election," Mazza said. "And then investors will try to absorb the corporate earnings and then start looking at the Fed again.
"I do think it's going to be a bit choppy," Mazza said, "but...where earnings come in, ultimately, will be that longer-term driver, even if there's a lot of macro headlines in the near term."
President Joe Biden speaks at a news conference in Washington on July 11. (AP Photo/Jacquelyn Martin, File)(ASSOCIATED PRESS)
As for how investors should start thinking about the possibility of a Trump-Harris face-off, the initial reaction from Wall Street showed investors should remain in wait-and-see mode.
"We don’t think there’s a lot of mileage to be had in trawling through [Harris's] policy positions during the 2020 primary, particularly as she focused more on social issues rather than economic initiatives," wrote Paul Ashworth, chief North America economist at Capital Economics.

Ripple’s support range has held strong since May 2023.The MACD indicator signals a potential bullish rebound.
On the daily chart, Ripple (XRP) has been settling in a sideways triangular formation that indicates a balance between buying and selling pressures and raises doubts about the general trend direction. Sellers are finding it difficult to get below the $0.47 lower border of this pattern, which the price recently hit.
Strong holding of this support range since May 2023 indicates ongoing demand and strong buying pressure. As such, a mid-term bullish reversal appears plausible, which could result in little bullish moves toward the top edge of the triangle.
A quick fall below this crucial support, however, would lead to a large long-term liquidation and a steep short-term loss.
Short-Term Bearish Continuation Flag Pattern
The XRP price forms a bearish continuation flag pattern on the 4-hour chart, with a brief phase of lateral movement and erratic price activity near the critical $0.47 support zone. The price fell recently to the important $0.47 support zone and the bottom trendline of the pattern.

Should sellers be able to cross this threshold, a big and quick decline is expected. But the MACD indicator, which has recently turned green, suggests a potential bullish rebound.
This indication and the current demand around this important support point to more buying pressure and the possibility of a mid-term bullish turnaround.

Current XRP Market Data
CoinMarketCap data show that the price of XRP is about $0.4722 at the moment of writing, down 0.57% over the last 24 hours. Earlier, CNF featured Ambassador Bitrue, King Karan, who made a strong case for XRP and stressed that it would be the biggest mistake to ignore this cryptocurrency.
On the other hand, according to GSR research, XRP and Cardano face hurdles when it comes to ETF adaptation. GSR approaches decentralization critically, highlighting aspects like permissionless participation.