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Ethereum Whale Address “BlueWhale0073” Purchases a Whopping 300.9 Billion Shiba Inu (SHIB) Amid Price Dip

Lele Jima
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Ethereum Whale Address “BlueWhale0073” Purchases a Whopping 300.9 Billion Shiba Inu (SHIB) Amid Price Dip

The massive price dip of Shiba Inu (SHIB), has given whale traders the perfect opportunity to increase their holdings in the asset class. 

With SHIB trading around $0.00002080, whale investors have spotted the perfect entry opportunity and are not slowing down in the accumulation of the popular dog-themed cryptocurrency.

Fresh data posted today by WhaleStats, a cryptocurrency analytics data platform that tracks the activities of the top 5,000 Ethereum wallets, shows that BlueWhale0073 has increased her Shiba Inu holdings as the price of the cryptocurrency dips.

According to WhaleStats, BlueWhale0073 bought a whopping 300,997,019,465 (appr. 301 billion) Shiba Inu worth $6.1 million.

The transaction, which took place earlier today, saw the recently purchased coins moved from an unknown address to BlueWhale0073, with the owner of the wallet paying a meager fee of $9 in Ethereum (ETH).

BlueWhale0073 Shiba Inu Transactions

BlueWhale0073 is currently ranked 257 in the WhaleStats’ top Ethereum address rankings and the user has embarked on a series of purchases for the second-biggest memecoin since last month.

As reported, BlueWhale0073 bought over 500 billion Shiba Inu in April alone and the address owner only purchases the 15th-largest cryptocurrency whenever there is a price dip.

BlueWhale0073 is not known to be a long-term holder of Shiba Inu, as the address is only seen buying SHIB whenever the price is low and sells following a surge in the token’s value.

At the time of writing, BlueWhale0073 holds a total of 403,241,854.56 SHIB (appr. 403.2 billion) worth around $8.43 million.

Shiba Inu Down 3.4% In 24 Hours

Like other cryptocurrencies, Shiba Inu has also suffered a slight dip in the last 24 hours, as the token shredded 3.4% in the hours leading up to press time.

Shiba Inu, which rose to a 24-hour high of $0.00002159, is currently trading around $0.00002083, according to data on Coingecko.

Report: Cardano Whales Accumulate 196 Million ADA in the Past Five Weeks 

Lele Jima
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Report: Cardano Whales Accumulate 196 Million ADA in the Past Five Weeks 

While small cryptocurrency traders continue to sell their cryptos, Cardano whales have been accumulating ADA at lower prices as they expect an imminent surge in the coin’s price.

The past few weeks have seen the prices of many cryptocurrencies plummet tremendously. Cryptocurrencies such as Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), Solana (SOL), among others were not spared by the dip that has rocked the cryptocurrency market in the past few weeks.

Conflict of Interest Between Small and Large ADA Traders

Over the last 30 days, Cardano traders have seen the value of ADA plummet from a high of $1.22 recorded on April 4, 2022 to a low of $0.76.

The bearish price of ADA has deterred many traders from increasing their holdings in the ninth-largest cryptocurrency by market capitalization.

While many people, majorly small traders, have decided to remain safe by converting their ADA holdings to stablecoins, whale investors see the price dump as the perfect opportunity to increase their Cardano holdings.

Massive Whale Purchase

According to data published by Santiment Feed, a cryptocurrency data analytics platform that analyzes over 2,000 cryptocurrencies, Cardano whales holding between 1 million and 10 million ADA have steadily racked up more ADA in the past five weeks.

Santiment disclosed that addresses in this category have accumulated a massive 196 million ADA in the last five weeks, as a majority of these whales took advantage of Cardano’s price dip.

It is worth noting that the stunning feat came after these whales dumped a combined 1.7 million ADA.

“#Cardano whale addresses holding 1M to 10M $ADA are accumulating their bags these past 5 weeks (196M more $ADA) after a 7-month stretch of dumping (-1.7M less $ADA). The 9th largest market cap asset recently hit prices last this low in February, 2021,” Santiment Feed reports.

ADA Expected to Surge After Hydra Upgrade

Cardano may not be moving in the direction many expected at the beginning of the year, but the cryptocurrency is considered to be highly undervalued at its current price, especially with the type of activities lined up for the coin.

As reported, since the Cardano team introduced smart contract functionality, developers have adopted blockchain, building trending decentralized applications (dApps) that have lured more crypto enthusiasts into the Cardano ecosystem.

While a handful of developers are currently building on the blockchain, Cardano founder Charles Hoskinson disclosed that the Hydra upgrade slated for next month will lure more developers to the platform, thus increasing ADA’s utility and also boosting the value of the cryptocurrency.

Just-In: Ripple (XRP) Request Time Extension for the First Time to Respond to the SEC’s New Claims Related to Hinman’s Documents

Lele Jima
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Just-In: Ripple (XRP) Request Time Extension for the First Time to Respond to the SEC’s New Claims Related to Hinman’s Documents

The blockchain company noted that it needed more time to respond to the SEC’s claim that Hinman’s 2018 speech is protected by attorney-client privilege. 

Popular blockchain network Ripple and two of its executives, Brad Garlinghouse and Chris Larsen, have requested for an extension of time to respond to recent assertions made by the Securities and Exchange Commission (SEC) about the fact that the attorney-client privilege protecting its internal documents related to William Hinman’s 2018 speech.

Ripple’s response is originally due on May 4, 2022; however, based on the seriousness of the issue at hand, the blockchain company and the Individual Defendants have asked for a time extension until May 13, 2022.

According to Ripple, the Plaintiff does not have any issue with the fintech company’s appeal to file a response to the assertion made by the SEC on a later date since “this is [the] Defendant’s first time of asking for an extension.”

SEC Objects Judge Netburn’s Ruling

Recall that Judge Sarah Netburn ruled that the Securities and Exchange Commission should submit the internal documents, which contained a draft speech made by the SEC’s former Director of Finance, Hinman, on June 14, 2018, where he noted that Ethereum is not a security.

The SEC was given a 14-day period to object to the ruling should they not feel comfortable with the court’s decision.

After requesting a four-day time extension, the securities regulators came up with a new reason why the document should not be used as evidence in the lawsuit.

Per the SEC, the documents Judge Netburn ordered the agency to produce reflected communications between Hinman and the agency’s attorneys, and as such the conversation is expected to remain confidential.

SEC Poised to Keep Hinman’s Documents from Ripple

Prior to the SEC’s objection, the securities regulators had argued that Hinman’s 2018 speech about Ethereum was only a personal opinion and could not be used as public guidance.

However, with the court not buying the story, the SEC chose to establish a new argument, with the hope that Judge Analisa Torres would reconsider Ripple’s plea to keep Hinman’s documents from being used in the case.

Although Ripple may not like the idea of requesting an extension of time, it is imperative that the blockchain company carefully respond to the SEC’s recent assertion because Hinman’s 2018 comment is seen as a vital instrument that could potentially put an end to the lawsuit.

IOHK Shared Cardano Ecosystem Most Important Updates Within Seven Days

Mark Brennan
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IOHK Shared Cardano Ecosystem Most Important Updates Within Seven Days

Important Updates In The Cardano Ecosystem In The Past Seven Days.



While the Cardano community continues to anticipate next month’s Vasil upgrade, other important events are occurring in the Cardano ecosystem, especially the continued increase in the number of Cardano-built decentralized projects. IOHK provides a review of happenings in the ecosystem over the past seven days. However, the most important ones are revealed below.

 

 

Liqwid finance partners with Carda

Non-custodial liquidity protocol, Liqwid finance, announced a partnership with Carda (a smart contract-based NFT services on Cardano).

Through the partnership, Liqwid finance users can use the protocol’s native token ($LQ) to list or buy NFTs on the Cardanohub marketplace at a minimal service charge.

Muesliswap completes the first phase of matches on Cardano mainnet

One of the top Cardano DEXs’ Muesliswap, revealed that they have completed their first partial matches on the Cardano mainnet. The completion of this phase is in partial fulfillment of their switch to Muesliswap V2. The limitation of Muesliswap v1 is that it only enables matches of equal-sized orders. However, the completion of Muesliswap v2 will enable orders to be matched against one another regardless of their size. Thus, enhancing liquidity and trading experience in the network.

Coinracer and Artano collaborate to launch NFTs on Cardano

Play-to-earn, blockchain-built skill-based racing game, Coinracer, collaborated with Artano (a platform for artists and creators) to launch NFTs on the Cardano network. The announcement came with a giveaway of BUSD and ADA.

Sundaeswap and Cardashift collaborate

DEX platform, Sundaeswap, announced a collaboration with Cardashift (a decentralized platform that provides funding for startups). The collaboration makes yield farming available for the ADA/CLAP pair.

ErgoDex shares their testnet token pack

Cross-chain DEX platform, ErgoDex, showed their testnet token pack. Users tested their ErgoDex tokens with the tokens of six top projects.

Ledger announced a new version of the Cardano app

Ledger announced that Cardano users can now download the latest version of the Cardano app (V4.0.0). The announcement added that the new version is compatible with smart contracts.

The NFT-maker announces a new partner

NFT ecosystem, NFT-maker, announced that it has partnered with wolfram research (creators of wolfram language) to make it easier for anyone to access and create their NFTs.

Argus NFT launches tool to detect fake NFTs

Argus NFT announced that it has completed the development of a tool that anyone can use to verify the minting history of Cardano NFTs and confirm that such NFTs are not fake.

Wanchain deploys cross-chain bridges

Wanchain and Cardano’s IOHK have collaborated to enable interoperability between the Cardano mainnet, sidechains, and other blockchains. Wanchain will deploy cross-chain bridges to serve as an EVM sidechain to Cardano.

XRP Investors Still Optimistic Despite Ripple v. SEC Lawsuit Expected to End Next Year

Lele Jima
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0
XRP Investors Still Optimistic Despite Ripple v. SEC Lawsuit Expected to End Next Year

Many XRP investors are hopeful that the SEC lawsuit will favor Ripple.

This past week has ushered in several developments in the lawsuit between Ripple and the Securities and Exchange Commission (SEC) that seemed discouraging to XRP investors.

Over the past weeks, investors’ hopes of seeing the end of the lawsuit before 2023 were dashed after Ripple and the Securities and Exchange Commission released a Joint Schedule order, suggesting that the case could linger until next year.

Similarly, Judge Sarah Netburn also denied Ripple’s motion to dismiss Dr. Albert Metz’s supplemental expert report filed by the Securities and Exchange Commission.

These developments did not bode well for the price of XRP, as the cryptocurrency has since fallen from $0.71 to a low of $0.58.

Although the lawsuit is not the only reason why XRP has dipped over 15% within this period, the case is considered a major factor.

Anonymous User Buys $48 Million Worth of XRP 

While many investors have stayed away from the cryptocurrency pending when things will stabilize, some traders are bullish on the cryptocurrency.

Some XRP traders are confident that the lawsuit outcome will be in Ripple’s favor regardless of how long it would take the court to give the judgment.

According to data provided by cryptocurrency analytics platform, ClankApp, an anonymous user moved 80 million XRP from South Korean-based cryptocurrency exchange Bithumb to an unknown wallet.

The transaction, which took place earlier today, was valued at $48 million in the hours leading up to press time.

XRP Price Dip

XRP investors have watched in dismay as the price of the cryptocurrency has suffered a major decline following a lawsuit slammed on the blockchain company by the Securities and Exchange Commission (SEC).

As noted by Ripple’s general Counsel, Stuart Alderoty, the SEC lawsuit is more like a rug pull on investors in the United States.

“To all that have been following the case thus far – thank you… It now looks like a resolution will happen in 2023, and each day that passes is hurting US citizens who were essentially the victims of a rug pull by the SEC,” Alderoty said.

Although the SEC filed its charges against Ripple in December 2020, comments made by William Hinman SEC’s former Director of Finance in 2018, about Ethereum (ETH) not being a security, had already wreaked havoc on the cryptocurrency.

At the time of writing, XRP is currently trading around $0.614 and is up 3.5% in the last 24 hours. XRP went as high as $0.63 in the last 24 hours after falling below $0.59.

Welly: The Naples-based Sandwich Restaurant for the Shiba Inu (SHIB) Community

Mark Brennan
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Welly: The Naples-based Sandwich Restaurant for the Shiba Inu (SHIB) Community

The Shiba Inu (SHIB) community has been excited about the adoption of the dog-themed cryptocurrency by Naples-based restaurant Welly. 

It is worth noting that the Naples-based sandwich restaurant did not just add SHIB as a payment method, Welly also rebranded its entire business to reflect Shiba Inu. 

Almost everything about Welly now reflects Shiba Inu and the restaurant has earned quite a reputation among SHIBArmy, enthusiasts of SHIB. 

While some members of the Shiba Inu community have taken time out of their busy schedules to see how things are functioning over there, other supporters of SHIB have only hoped for the opportunity to try the branded SHIB sandwich. 

SHIB Enthusiast Captures His Experience at Welly on Camera

SHIB Alexander, a Shiba Inu popular on the popular microblogging platform Twitter, is one of those who decided to travel a long distances to Naples, Italy, in a bid to see how Welly operates. 

In a YouTube video published in February, SHIB Alexander highlights everything members of the Shiba Inu community who are yet to visit the popular Naples-based sandwich restaurant should know. 

SHIB Alexander was in the company of his brother and another Shiba Inu influencer when he visited Welly. 

He visited Naples during the early hours of the day and took out time to make a tour around the city, which has some lovely hangout spots, including a seaport, which is a few meters away from Welly. 

With the seaport strategically located close to Welly, SHIB enthusiasts can conveniently hangout at the spot after purchasing their sandwich from the restaurant, to enjoy the cool breeze of nature. 

SHIB Alexander and his crew arrived at the restaurant before it opened for business for the day and had to wait until the evening hours. 

From their position at the sea port, one could clearly see the SHIB dog mascot boldly placed as the restaurant’s logo and strategically positioned at the entrance. 

As they approached the restaurant, the LED light on the logo made the SHIB mascot visible for everyone, including passers by. The front doors also featured the Shiba Inu logo on one end and a sandwich on the other. 

The Shiba Inu logo is also littered everywhere inside the restaurant, which makes it almost impossible for anyone not to notice them. 

Interestingly, the restaurant’s slogan, which reads “I AM RYOSHI, WE EAT WELLY” is also clearly written on the wall inside the restaurant, helping Shiba Inu enthusiasts to have a sense of belonging when they enter Welly. 

Aside from sandwiches, Welly also offers other snacks like chips and burgers, among others, and customers can choose to buy soft drinks like Coca-Cola from the restaurant. 

It is obvious that Welly has become the native restaurant of Shiba Inu and more SHIB enthusiasts will want to visit Naples to see things for themselves. 

Rising Interest to Launch a Welly’s Franchise

So far, Welly has become increasingly popular in Naples, with its management hoping to expand its operations to other parts of the world by 2023. 

Following the popularity of Welly, several entities, including SHIB enthusiasts, have filed for a franchise to launch a Welly’s restaurant in their cities. 

According to Shiba Inu lead developer Shytoshi Kusama, the restaurant said it has received over 300 franchise applications. 

The restaurant added that it is still reviewing these applications to ensure that it selects the perfect candidates that will aid its expansion goals. 

Cardano Now Averages Over 100,000 Daily Transactions

Mark Brennan
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Cardano Now Averages Over 100,000 Daily Transactions

The number of daily transactions on Cardano has surged above 100,000 in the last 15 days.


Cardano has been silently achieving significant milestones in terms of network adoption, as the number of daily transactions on the network has continued to be on the increase in recent times compared to what was recorded in the early days.

Contrary to the argument that Cardano is not widely used, data on Cardanoscan shows that the network now averages over 100,000 transactions per day.

In the last 15 days, the Cardano network has completed over 100,000 transactions on a daily basis, with the highest number of transactions completed on the network recorded on April 28, 2022, where a total of 134,723 transactions were recorded.

Cardano Daily Transactions Expected to Surge 

Although the feat is nothing compared to what is being recorded on Ethereum, one of Cardano’s closest rivals, which has an average daily transaction of 1.1 million, transaction volume on Cardano is expected to surge when the blockchain is used at the same capacity as Ethereum.

A Twitter user with the username @EdnStuff took to the microblogging platform to share the widespread adoption of Cardano in recent weeks, saying:

“Cardano now averages 100k transactions per day, which currently contain about 3 payments per transaction. Ethereum has about 1.1 million transactions on average per day. Cardano network effectively is used at about 36% the capacity of Ethereum.

A [dead] chain you say?,” @EdnStuff tweeted.

According to the user, the ADA community needs to change the standard at which to make comparisons between Cardano and another blockchain.

Cardano Smart Contract Lures Users to the Network

It is worth noting that following the launch of the Alonzo upgrade that added smart contract functionality to Cardano, the network has been widely adopted.

Since the launch of the upgrade, many decentralized applications have gone live with more developers still building dApps on Cardano.

The release of decentralized applications has continued to lure more users into adopting the blockchain to conduct different transactions, ranging from payments to staking.

Although Cardano is yet to release the Hydra upgrade that will enhance the network’s smart contract, daily transactions on Cardano have continued to surge.

The daily transactions are expected to double or triple from its current record when more decentralized applications go live.

Bitcoin Massive Amount Of Profit Taken Transactions Stopping BTC To Regain $40K Mark

Albert Brown
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Bitcoin Massive Amount Of Profit Taken Transactions Stopping BTC To Regain $40K Mark

 

Bitcoin is not performing well.



On-chain data analytics platform, Santiment, has revealed via Twitter that the first two hours of Monday crypto trading show that the BTC ratio of daily on-chain transaction volume in profit to loss is 12.5 to 1.

More BTC transactions are in the loss territory than in the profit territory. Hence, Santiment opines that traders are losing confidence about the possibility of the leading crypto reaching and sustaining the $40K levels.

 

 

Nevertheless, veteran crypto analyst, Matthew Hyland, remarked that BTC has never spent 15 months above a price only to retest it again. Hence, if it dips below the $28.8K level, it would be a first in its history. January 2021 was the last time, BTC traded at sub $28K levels.

Also, for the 5th successive week, BTC is having a red candlestick close on the weekly chart according to crypto copy trading platform, Bitget. Thus, closing is lower than its open every week of last month. It implies that BTC has been trending in the same price channel since the beginning of the year.

Furthermore, the tool which measures BTC investor market sentiment, the BTC fear and greed index is currently at the ‘fear’ position, with a score of 28. This current index indicates that the market sentiment is bullish toward the leading cryptocurrency.

This current index indicates a buying opportunity since most investors are worried or fearful about investing in the leading cryptocurrency. Up until yesterday, the index has been in the extreme fear position.

Cardano Community Responds to Critic Saying “ADA is Going to Zero” 

Mark Brennan
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Cardano Community Responds to Critic Saying “ADA is Going to Zero” 

The Cardano community defended ADA amid criticism from supporters of rival crypto projects.


Cardano enthusiasts may not be happy with the current performance of ADA, which has shredded a significant percentage of its value since the beginning of the year, but that does not imply that they have lost faith in the cryptocurrency.

Like most cryptocurrency projects, Cardano users have usually made significant efforts to protect ADA from every form of ridicule from supporters of rival cryptocurrencies.

Digital currencies including Solana (SOL), Ethereum (ETH), and Cardano were shaded in a recent tweet made by Mike Alfred, founder of crypto data analytics firm BrightScope.

According to Alfred, cryptocurrencies are no match for Bitcoin.

While Alfred noted that Solana is broken and Ethereum is associated with high gas fees, the Bitcoin proponent stated that the price of ADA will eventually go to zero.

“Solana is broken. Ethereum gas fees are so high that it’s essentially unusable. Cardano is going to zero. Meanwhile, #Bitcoin issues a new block every 10 minutes like clockwork. This isn’t rocket science folks,” Alfred said.

Cardano Community Comes to ADA Defense

The post did not seem to go down well with members of the Cardano community, who rallied around the post in defense of the ADA coin.

A Cardano supporter with the username @$nadjritzcalod stated that the post is insulting to the post-Cardano community.

@$nadjritzcalod said despite Alfred’s derogatory comments aimed at ADA, Cardano has performed extremely well in various aspects.

“My man really sneaked in a Cardano insult, funny how it’s something as irrational as “going to zero”. Zero downtime, active development, active scaling, most decentralized PoS, non-custodial staking, unmatched community, transparent roadmap, low cost, sidechain enabled,” @$nadjritzcalod said.

Similarly, ADA Whale, a Cardano supporter with nearly 100,000 followers on the microblogging platform, re-analyzed what Alfred meant by his post, saying:

“What Mike thinks he’s tweeting: Cardano is going to zero.

What Mike is actually tweeting: Cardano’s only credible competition is broken, unusable and 2008 tech. Victory by default!”

Cardano Tipped to Surge Above Previous ATH

Cardano is considered a grossly undervalued cryptocurrency at its current price following the crypto project’s developments.

As reported, Cardano has been active for the last five years without experiencing any technical glitches, while the same thing cannot be said for rival blockchains like Ethereum and Solana.

The blockchain is tipped to onboard many developers once the Hydra hard fork is implemented next month, as the update is expected to improve Cardano’s smart contract features.

The current price of ADA worth $0.794 at press time may be over 70% down from its all-time high of $3.09, but the Cardano community is optimistic that the cryptocurrency will soar above the previous ATH when more decentralized applications are deployed on the network.

New Record: The Highest Ever Monthly Community Burn, 26 Billion Shiba Inu Burnt In April; 34B SHIB Since Start of 2022

Zabi
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New Record: The Highest Ever Monthly Community Burn, 26 Billion Shiba Inu Burnt In April; 34B SHIB Since Start of 2022

 

26.10 Billion Shiba Inu (SHIB) Burnt In April; 34.97 Billion SHIB Since The Start of New Year 2022, All Thanks to Launch of “SHIB Burn Portal”



Shiba Inu Community sets a new record of burning SHIB in one month. Over 26.10 billion Shiba Inu (SHIB) tokens were taken out of circulation in April 2022. All Thanks to the “SHIB Burn Portal”.

Shibburn.com recently released a monthly burn figure and reported that 26,109,968,050 (26.10B) SHIB tokens had been permanently removed from circulation by the community in April 2022 of 1,974 separate burns. This marks the record month for Shiba Burning, as this figure is a whopping 331% higher than the previous month when only 6,050,996,291 (6.05B) SHIB tokens had been burned.

The massive burn comes after the team behind the Shiba Inu token officially launched the “SHIB Burn Portal” on April 23, 2022, in collaboration with Ryoshi Vision, one of the official partner tokens of the Shiba Inu ecosystem. Through “Burn Portal” the team encourages individuals and businesses to contribute towards burn while rewarding them with Ryoshi Vision tokens (a form of passive income).

SHIB Burn Portal appears to be a BIG SUCCESS, as the portal came into being just 9 days ago and has burned a whopping 22.5 billion SHIB through nearly a thousand transactions, as per a recently posted tweet from one of the official SHIB Growth Breed member, Archangel.

The launch of the portal literally gives a push to community-led burning initiatives and proved to increase the burn rate manifolds. Since the start of the New Year 2022, the community is noticing a continuous increase in burning figures every month.

In the month of January, the community-led burning initiatives have burned 1,321,145,209 (1.32B) SHIB, whereas, 1,495,356,204 (1.49B) SHIB have been sent to dead wallet in February. The burn rate skyrockets in March, when 3 newly emerged SHIB-inspired tokens burned over 3 billion tokens in a month. In doing so, 6,050,996,291 (6.05B) SHIB has been taken out of circulation forever in the month of March alone.

In this way, 34,977,465,754 (34.97B) SHIB has been permanently taken out of circulation within the period of just 120 days (4 months). Therefore, the Year 2022 can be named “SHIB Burn Year”.

Overall, a total of 410,336,420,918,531 (410.33T) SHIB has been taken out of circulation forever till now from the initial supply of 1 quadrillion tokens. The total supply stands at 589,663,579,081,468 (589.66T), out of which 37,077,495,584,383 (37.07T) tokens has been staked in ShibaSwap by the holders. Hence, the current circulating supply comes out to be 552,586,083,497,085 (552.58T).

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