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Unknown Wallet Moves 200 Billion Shiba Inu to CryptoCom

Albert Brown
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Unknown Wallet Moves 200 Billion Shiba Inu to CryptoCom

The recent transaction saw up to $1.7M in SHIB drained from the sending wallet to a Cryptocom-affiliated address.


Shiba Inu (SHIB) whale movements have remained persistent of late regardless of market conditions, as the network recently witnessed the transfer of 200,010,000,000 (200 billion) SHIB tokens valued at $1,744,087 ($1.7M) from an unknown wallet to an address affiliated with Singapore-based exchange Crypto.com.

Transaction Details

Information from the Ethereum blockchain explorer, Etherscan, reveals that the transaction occurred today at 11:11 AM (UTC). With the tag Crypto.com 5, the recipient wallet is known to be associated with the centralized exchange Crypto.com. The wallet with a balance of $2,089,643 has received consistent transfers from several wallets, including accounts from American exchange Coinbase and DEX Bibox. Its central holding is in SHIB, with a balance of 236,398,272,911 SHIB ($2,061,392).

On the flip side, the sending wallet remains unidentified as press time. The recent outflow of 200 billion SHIB emptied the wallet, as its current balance is $0.26 worth of ETH tokens. Notwithstanding, Etherscan data reveals that the wallet has received constant inflows from several exchange-affiliated wallets in the past months, including wallets belonging to Gemini, KuCoin, and Binance. All outflows, however, go to Crypto.com wallets.

Since there is currently limited information on the sending wallet, an affiliation with Crypto.com, like the recipient wallet, is not an illogical assumption. Both wallets have transacted in Shiba Inu the most, further highlighting Crypto.com’s apparent affinity to SHIB. The exchange revealed through its Proof of Reserves disclosure that it holds up to $558M worth of SHIB, The Crypto Basic reported last month. Its SHIB holdings were noticed to be higher than ETH.

Persistent SHIB Whale Movements 

Meanwhile, the latest SHIB transaction involving the Crypto.com wallet is one of the recent whale movements the Shiba Inu community has witnessed. These whale transactions have been consistent regardless of the direction of the market. Last Friday, a new wallet accumulated up to 2.6 trillion SHIB when the asset was trading on unpropitious grounds.

On December 14, Binance also moved over 1.89 trillion SHIB tokens to various wallets in 24 hours. On the same day, a new whale address amassed a whopping 1.92 trillion SHIB. Due to this accumulation trend, SHIB was ranked as the sixth-largest asset held by the top 100 Ethereum whales, per data from WhaleStats.

Peter Brandt Calls Michael Saylor “A Fo*lish Man” For Asking People to Believe in Bitcoin

Lele Jima
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0
Peter Brandt Calls Michael Saylor “A Fo*lish Man” For Asking People to Believe in Bitcoin

Brandt slams Saylor for asking his followers to believe in Bitcoin.


Veteran market analyst Peter Brandt has slammed MicroStrategy co-founder Michael Saylor for calling on his followers to “believe in Bitcoin (BTC).” In a tweet yesterday, Saylor attached an image of a priest in front of a Bitcoin temple. The popular Bitcoin maxi captioned the photo “Believe in Bitcoin.”

Notably, this type of tweet is part of Saylor’s attempts to promote the widespread adoption of the world’s largest cryptocurrency by market capitalization. The image has attracted over 13.5K likes and nearly 1K comments since it went public. While many of Saylor’s followers reaffirmed their belief in Bitcoin, others took to the comments section to slam the former MicroStrategy CEO.

Brandt’s Reaction to Saylor’s Tweet

Interestingly, Brandt is among those who did not find the post funny. The veteran trader referred to Saylor as a “f*olish man” for believing in Bitcoin. Brandt also added a famous scripture from the Bible, Psalms 20:7, which reads: “Some trust in chariots and some in horses, but we trust in the name of the LORD, our GOD.”

However, Brandt twisted the famous passage to include “Bitcoin” to convey his message to Saylor.

“Oh, foolish man. Some men trust in chariots and others in horses, and yet others in bitcoin, but as for me, I will trust in the name of the Lord. Psalms 20.7”

Brandt’s Bitcoin Analysis

Brandt is known for providing market updates for top financial instruments, including crypto and stocks. The veteran market analyst has made several Bitcoin predictions in the past. As reported by TheCryptoBasic, Brandt speculated that BTC would find a bottom at the $13K price level. While Brandt thinks Bitcoin’s bottom is around $13K, the top market analyst believes BTC will still create a new all-time high.

Floki P2E Game “Valhalla” Release Date Announced

Albert Brown
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Floki P2E Game “Valhalla” Release Date Announced

The launch will mark the Metaverse game’s major release as it goes live on Optimism Goerli.



Floki Inu, the dog-themed multi-chain project, has revealed plans to launch the full version of its much-anticipated Play2Earn (P2E) Metaverse NFT-based game dubbed “Valhalla” on December 23. The December launch will introduce the first significant release of the Valhalla game as it goes live on the Optimism blockchain’s official testnet Optimism Goerli.

The Floki Inu team made the announcement through the project’s official Twitter handle today. “MARK YOUR CALENDAR!

The first major release of Floki’s flagship metaverse NFT game Valhalla will be launching on Optimism Goerli on the 23rd of this month. Stay tuned,” the handle disclosed, sharing a graphical representation of the information.

This development comes over ten months following the release of the first testnet phase of the Valhalla game. On February 28, the Floki team announced the launch of Valhalla Alpha Battle Test Arena Testnet, which allowed users to test the game and provide feedback to the development team. Occasional patches and updates to improve the gaming experience were promised.

Users interested in testing the prototype were allowed to fill out a form indicating an interest in playing the game. The testing at this stage was carried out on the Optimism Kovan Testnet. The Alpha version launched did not support play-to-earn features. Three days later, the team announced that testing had been made open to the general public. The December 23 planned launch will become the first full release of the game.

According to the first introduction of the game, Floki noted that the launch of the Valhalla game would be the project’s attempt at leveraging the nascent Metaverse industry projected by Morgan Stanley to reach an estimated worth of $8 trillion in China alone. The Floki team saw an opportunity to make a mark in the metaverse scene with Valhalla.

Founder and CEO of Colexion, Abhay Aggarwal, early this month, highlighted the potential growth of P2E games within the metaverse due to the incentives they promise players.

Floki Inu’s Growing Prominence 

Launched in June 2021 as a meme coin inadvertently inspired by billionaire and DOGE advocate Elon Musk, Floki Inu is gradually rising to prominence within the meme coin scene and the broader cryptocurrency industry. Less than two years after its launch, Floki has been involved in several developments which have triggered public attention.

On February 24, the Floki team announced a significant partnership with Formula 1 team Alfa Romeo. The partnership would bring Floki global recognition as its branding gets featured ORLEN cars by the Alfa Romeo team. The announcement came a few days after the Floki team disclosed a 2-month TV ad campaign in the United States and Turkey.

The team has also been involved in certain philanthropist moves involving building schools in several underdeveloped areas. The team announced last year that it would begin with Nigeria, Guatemala, and Laos. While the Nigerian school was reported to be halfway complete early this year, the school in Guatemala was completed in August.

Single Wallet Burns 26M Shiba Inu, 31M Gone in 24 Hours, 163M In a Week

Zabi
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Single Wallet Burns 26M Shiba Inu, 31M Gone in 24 Hours, 163M In a Week

The Shiba Inu community is continuously pushing to burn the Shib supply.


Over 163.75 Million Shiba Inu (SHIB) has been taken out of circulation in the past week, and 31.19 Million in the past 24 hours. Single wallet carried out multiple transactions to burn 26 Million Shiba Inu.

Shiba Inu Community-led burn initiatives sent a whopping 163,759,136 (163.75M) SHIB to the “inferno” addresses through fifty separate transactions in the past week.

Past 24 Hours

Shib Army collectively removed 31,197,422 (31.19M) SHIB through eighteen separate transactions in the past 24 hours alone.

Mysterious Wallet

The mysterious wallet burned the most Shiba Inu tokens in the past 24 hours. The wallet burned 26 Million Shiba Inu through seven separate transactions in the past 24 hours.

As per data provided by Etherscan.io, the unknown wallet carried a major burn transaction of the day about 11 hours ago from press time. In the said transaction, the wallet sent a significant 10,400,000 (10.40M) SHIB to the null address.

Mysterious Wallet Burned 26 Million Shiba Inu in the past 24 hours
Mysterious Wallet Burned 26 Million Shiba Inu in the past 24 hours.

More burn transactions can be seen soon from the same wallet as at the time of writing; the wallet still holds 93,600,000 (93.60M) SHIB.

Mysterious Wallet Holds 93.60 Million SHIB
Mysterious Wallet Holds 93.60 Million SHIB

As reported by The Crypto Basic, Binance ranked Shiba Inu among the top three most-watched crypto assets on the exchange. Top Shiba Inu’s dev revealed today that Shibarium’s Beta would “soon” launch. After Binance, Cryptocom, and Kucoin, CoinEx showed it holds 1.69 Trillion Shib in reserves.

As of press time, Shiba Inu is trading at the price of $0.00000868, up 2.73% over the last day, with a 24-hour trading volume of $133,712,338 ($133.71M).

 

Over 15M Terra Classic (LUNC) Burnt Over Weekend Amid a Crashing Market

Mark Brennan
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Over 15M Terra Classic (LUNC) Burnt Over Weekend Amid a Crashing Market

The latest batch of burns brings the total amount of burned tokens to 36.1 billion Terra Classic (LUNC).


While business activities were put on a hiatus, Terra Classic (LUNC) burns persisted over the weekend, as the community witnessed the incineration of up to 15,197,890 (15.1M) LUNC tokens between Saturday and Sunday despite a massively crashing broader crypto market that has so far put pressure on investors’ confidence.

The cumulative 15.1M tokens burn came from a series of numerous burns to the tune of hundreds of thousands of LUNC tokens, with the only single significant transaction standing out ascribed to Seychelles-based crypto exchange MEXC Global.

MEXC Global Accounts for 69% of Total Weekend Burns

MEXC Global, which became one of the first exchanges to indicate support for the LUNC burn initiative, persists in its burns, as indicated by the latest burn of 10,587,780 (10.5M) tokens, representing 69.6% of the total amount of tokens burnt over the weekend. Data from Terra Finder reveals that the burn transaction occurred on December 18, 20:12 (UTC), with a blank memo.

Despite the lack of a helpful hint that points to the exchange, the burn transaction happens to have occurred from an official MEXC Global-affiliated wallet, information from the LUNC burns surveillance platform by LUNCPenguins reveals. Several community members have expressed their gratitude to the exchange for its commitment.

Recall that MEXC Global disclosed plans to resume the 1.2% tax burn on spot trading within the platform in September, as reported by The Crypto Basic. The exchange promised to provide transaction IDs of burns made from the time till October 1. Due to its commitment, MEXC remains the 4th biggest LUNC burner, with total cumulative burns of 1,017,206,565 (1B) LUNC tokens, second only to Binance concerning exchanges involved.

The “Burnalot” Campaign 

All other burns over the weekend came in transactions of less than 100,000 tokens. Still, most of them had memos that indicated an affiliation with a recent campaign started by anonymous Terra Classic influencer Crypto King on Saturday. He charged all LUNC holders to burn at least 100,000 tokens to show solidarity for the movement.

Most transactions over the weekend and into the week come with the memo “Burnalot” which was the tag Crypto King ascribed to the campaign. These transactions have ranged from 99K LUNC to 150K LUNC. Despite the comparatively low amount, consistent participation will significantly impact the asset’s supply as the burn initiative continues. Total LUNC incinerated stands at 36.1B tokens, with Binance accounting for 20.1B.

LUNC and the Woes of the Broader Crypto Market

Despite the sustenance of the burning campaign, Terra Classic has not escaped the recent onslaught meted out on the broader crypto market by the bears. As previously reported, the U.S. macroeconomic atmosphere and recent FUD surrounding Mazars Group’s decision to stop working with crypto exchanges have exacerbated the bearish storm.

LUNC has dipped with most mainstream assets, declining by 14.47% in the past seven days to trade at a current value of $0.0001399 as of press time. The asset’s market cap has slipped below the $1B mark to the current $834.87M value. Notwithstanding, the community is optimistic about the asset’s rejuvenation, adopting several developments in this regard.

Last week, Terra validator LUNCTTS noted that the community needs to burn an estimated 2 trillion LUNC for the asset to hit $0.01. The Crypto Basic also highlighted measures a community influencer revealed that could contribute to the asset’s journey to reclaim the $1 price point.

Whales Shuffle 412M XRP In Absence of Settlement in Ripple vs. SEC Lawsuit

Mark Brennan
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Whales Shuffle 412M XRP In Absence of Settlement in Ripple vs. SEC Lawsuit

Cryptocurrency whales are still showing enormous interest in XRP.



Cryptocurrency whale tracking service Whale Alert continues to share updates about large XRP movements made by high net-worth investors. According to Whale Alert, these deep-pocketed crypto investors shuffled a whopping 412,663,155 (412.66M) XRP in the past 24 hours. At the current exchange rate of $0.344, the value of XRP moved by whales was worth $142.18M.

Anonymous Whales Shuffle 179.5M XRP

The most significant XRP transfer occurred in the past day and saw an anonymous whale transfer an astounding 179.5M XRP ($63.13M) to an unknown wallet.

The transaction took place yesterday at exactly 19:54 (UTC). Per Bithomp data, the recipient further disbursed the tokens via different transactions to multiple addresses. Out of the 179.5M, the recipient moved 40M XRP each to Ripple’s On-Demand Liquidity partners – Bitstamp and Bitso.

The first 40M XRP coins were moved to the Latin American cryptocurrency exchange Bitso 10 hours ago, while the second 40M XRP coins ($13.92M) were moved to Bitstamp a few minutes later. At press time, the recipient’s address of the 179.5M XRP now holds 251 XRP.

Other Large XRP Transfer

Whale Alert also shared details of other large XRP transfers aside from the 179.5M XRP moved earlier by two unknown whales. Precisely 21 hours ago, an unknown crypto trader deposited 43,974,225 (43.97M) XRP worth $15.49M to an address on San Francisco-based exchange Coinbase.

A few minutes later, another unknown wallet also transferred 46,888,930 (46.88M) XRP valued at around $16.52M to the same Coinbase address.

Whale Alert also observed the movement of a hefty amount f XRP in the early hours of today. According to the leading cryptocurrency tracking service, an anonymous whale withdrew 62.3M XRP worth $21.73M from a Bitso address.

Whales Still Interested in XRP Despite No Settlement

The hefty amounts of XRP moved by crypto whales suggest that high-net-worth investors are still interested in the asset despite the ongoing Ripple vs. SEC lawsuit.

While the December 15 settlement between Ripple and the SEC did not occur as rumored by Cardano founder Charles Hoskinson, XRP whales are still optimistic that Judge Analisa Torres will rule in favor of Ripple.

XRP whales are confident of a Ripple win given the several legal analyses pointing towards the blockchain company’s win. Crypto Law founder attorney John Deaton is among the legal experts who believe the lawsuit’s outcome will be in Ripple and XRP holders’ favor. Attorney Deaton noted last month that Ripple has a better chance of winning the ongoing lawsuit following the SEC’s victory against peer-to-peer content distribution network LBRY.

According to Deaton, Ripple’s defense team challenged the second prong of the Howey Test (common enterprise).

“In the Ripple XRP case, the common enterprise is challenged. In fact, the SEC incoherently argued about the common enterprise,” Deaton said.

TerraCVita Now Offers Technical Support For Hacked LUNC Delegations

Mark Brennan
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TerraCVita Now Offers Technical Support For Hacked LUNC Delegations

TerraCVita proposes to help hacked delegators recover funds.



Terra Classic development group and network validator TerraCVita has launched technical assistance to support Terra Luna Classic (LUNC) delegators that have been victims of hacks, per a tweet from the validator today.

Notably, the validator conceded that they might not recover it all.

“We have technical assistance for those with hacked delegations… we cannot promise to save it all, but we can certainly try,” TerraCVita tweeted, directing users to the validator Discord.

It is currently unclear if this service is limited to only LUNC holders who delegate with the TerraCVita validator or if it extends to all LUNC holders. It is also unclear if there has been a recent rise in hacks. TerraCVita has so far not responded to inquiries from community members. However, as confirmed by The Crypto Basic, no such concerns have been raised by other delegators or influential community members.

Notably, Allnodes launched a similar service for token delegators in November, as reported by The Crypto Basic. Initially called the Anti-Scam Help service, the StakeRecover service promises to allow users to withdraw their delegated assets before malicious actors can do so within the unbonding period. Currently, the service is only available to Ledger, Keplr, and Cosmostation wallet users. 

A New DApp Is Coming To Terra Classic 

In another positive development, TerraCVita tweeted last Thursday that it was working to bring another decentralized application (DApp) to the Terra Classic network in partnership with Unity, a new network validator. 

Notably, the validator is run by a team of DApp developers, per the tweet from TerraCVita. The Unity development team claims to allocate 75% of its rewards to development. Unity currently ranks 67th in the Terra Classic active validators list, with over 445 million delegated LUNC, per data from LUNCPenguins.

In a tweet today, Ivan@Unity (@Ivandoesit), who co-owns the Unity development team, hinted at developing a Lend & Borrow app on the network sharing a homepage interface.

It bears mentioning that the TerraCVita has already rolled out a Casino that has burned at least 1 million LUNC. Seeing a burn mechanism in the Lend & Borrow app will not be surprising.

Terra Classic Development Group Trims Headcount

Mark Brennan
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Terra Classic Development Group Trims Headcount

Terra Rebels reduce their headcount to boost efficiency.


Terra Classic development team Terra Rebels has let go of about ten members, according to a tweet from community influencer Classy (@ClassyCrypto_) today.

The influencer disclosing this development says those laid off have failed to provide verifiable proof of work.

Terra Rebels’ admin ClanMudhorn (@ClanMudhorn_) appeared to confirm the development in response to Classy’s tweet. According to the admin, the group is working to provide a more efficient team to serve the community’s needs. 

It comes after a proposal allocating 937.5 million LUNC (~$150k) to the development group passed governance. Per the proposal, the fund will cater for two months of development work to make Rebel Station, the Terra Rebels alternative to the Terraform Labs-backed Terra Station, utterly independent of TFL infrastructure.

In a tweet last Wednesday, the Terra Rebels admin said that the Terra Rebels would distribute a portion of the funds to team members with a history of deliverables. However, ClanMudhorn gives little details about the members who will receive this distribution and the specific tasks for which they receive it.

“… I don’t feel concerns the community as long as TR members are happy with said distribution to members capable of providing proof of work,” ClanMudhorn said in response to inquiries from StrathCole (@ColeStrathClyde).

Notably, the approved proposal has faced flak from some quarters for being vague and wasteful. StrathCole expressed this view in a long thread with support from LUNC DAO and HappyCattyCrypto.

All of these come after the community recently faced uncertainty over continued TFL support for Terra Station, bringing to the fore the risks of Terra Classic’s TFL dependence. While recent developments may have sped up the timeline, independence from TFL has always been in the Terra Rebels roadmap.

Binance Ranks Shiba Inu Among Top 3 Most Watched Crypto In 2022

Lele Jima
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0
Binance Ranks Shiba Inu Among Top 3 Most Watched Crypto In 2022

Shiba Inu records another major milestone amid growing popularity.



Binance, the world’s largest cryptocurrency exchange by 24 hours trading volume, has ranked Shiba Inu (SHIB) among the top three most-watched crypto assets. According to the ranking, the top three most watched cryptocurrencies on Binance this year are Bitcoin, Ethereum, and Shiba Inu. The major cryptocurrency exchange made this known in a tweet today, saying:

The recent milestone was also celebrated by @shibtoken, the official Shiba Inu’s Twitter handle.

“Woof! SHIB becomes one of the most watched crypto assets in @binance during 2022, next to Bitcoin and Ethereum,” @shibtoken noted. 

Notably, the recent milestone further portrays Shiba Inu’s growing popularity among crypto traders.

Shiba Inu’s Growing Popularity

It is not surprising to see Shiba Inu rank among the most watched cryptocurrencies on Binance in 2022. This year, cryptocurrency whales have capitalized on Shiba Inu’s low price to scoop massive SHIB tokens. Binance has also played a pivotal role in helping these whales move the cryptocurrency to and from the exchange. Last week, TheCryptoBasic reported that the major cryptocurrency exchange moved a whopping 1.89T Shiba Inu tokens in one day.

Shiba Inu’s Popularity Soars

So far this year, Shiba Inu has recorded major feats, showcasing how popular the crypto asset has become in less than three years. Shiba Inu has transitioned from a mere meme coin to a utility cryptocurrency. Many businesses, including Gucci, Rooms-To-Go, Amsterdam Vintage Watches, etc., now accept the leading canine-themed cryptocurrency as a payment method.

With numerous businesses accepting Shiba Inu and the widespread adoption of the token by crypto whales, traders see it as a duty to keep tabs on the asset’s price. 

As reported by TheCryptoBasic, the number of CoinMarketCap (CMC) users who have Shiba Inu on their watchlists recently spiked above 1.8 million. Data on the crypto aggregator website shows that 1,810,756 CoinMarketCap users have Shiba Inu on their watchlist. The CMC watchlist is a feature on the cryptocurrency aggregator platform that helps crypto traders keep track of an asset’s price movement. This will help traders decide on the appropriate time to sell.

Shiba Inu Users can also purchase goods across 60M stores where Visa is accepted. recently John Richmond expressed gratitude to members of the Shiba Inu community for suggesting ideas to improve the quality of its clothing line. Shiba Inu metaverse is also developing fast Using Unreal Engine 5.1.

Shiba Inu Officially Takes First Step Towards Shibarium Beta Launch

Lele Jima
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0
Shiba Inu Officially Takes First Step Towards Shibarium Beta Launch

Shibarium’s Beta will “soon” launch, a top Shiba Inu’s dev revealed.




In a recent tweet, “Shib Trophias,” a member of Shiba Inu’s Defense team and a top developer has finally revealed the necessary steps towards the launch of Shibarium. Trophias noted that the first step toward Shibarium’s Beta launch is to update the official Shiba Inu website.

“First thing is to update our main website. It was much needed, and this is our first step as we march towards Shibarium’s Beta launch,” Trophias said.

According to Trophias, Shiba Inu’s dev team will launch the updated website in phases.

“The entire website will not launch all at once. Phased rollouts will happen, and we’ll try to make it as smooth as possible,” the official Shiba Inu team member added.

 

His recent comments about Shibarium come hours after the official Shiba Inu’s Twitter handle disclosed that the countdown to a new website had commenced.

Trophias Says Shibarium Will Soon Launch

Members of the Shiba Inu community have continued to react positively to Trophias’ update regarding the launch of Shibarium. Some SHIB enthusiasts described the new Shibarium update as an early Christmas gift.

Furthermore, others expressed gratitude to the top Shiba Inu dev for keeping the community updated about Shibarium’s launch.

Meanwhile, a SHIB enthusiast reached out to Trophias to find out the official date of the Shibarium Beta launch. Responding to the question, Trophias did not give a specific date. The top Shiba Inu dev only revealed that the Shibarium Beta would soon launch.

 

SHIB Holders Continue to Anticipate Shibarium’s Launch

It bears mentioning that the community is anticipating the launch of Shibarium, an Ethereum layer-2 scaling platform. According to MILKSHAKE, an official growth team member, Shibarium will match Polygon in terms of scalability, speed, and security. MILKSHAKE previously also revealed that the upcoming L2 network would become a hub for decentralized applications (dApps), adding that all Shiba Inu’s products, including ShibaSwap, SHIB, Shiboshi, etc., will migrate to the network once it goes live.

With all these numerous features of Shibarium highlighted, the community has been anticipating the network’s official launch date. However, the team has refused to reveal the exact date Shibarium will roll out. Instead of giving a specific date, the team has continued to share mysterious tweets hinting at Shibarium’s launch.

Earlier this month, Trophias noted on Twitter that the dev team had made significant progress toward the launch of an unnamed project. Trophias said the team has wrapped up the V1 design and has been “finalizing the content.” The top Shiba Inu developer added that the unnamed project would launch in phases. While SHIB enthusiasts believe the update is for Shibarium, Trophias said the update could be for the entire ecosystem, not just the upcoming L2 network.

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