XRP Sees Major On-Chain Activity Amidst Mixed Signals; SHIB Burn Metric Collapses
XRP Sees Major On-Chain Activity Amidst Mixed Signals; SHIB Burn Metric Collapses
Recent reports highlight significant on-chain activity for XRP, with over $165 million transferred and linked to major exchanges like Binance and Kraken. While some tentative optimism for XRP's future is noted despite mixed signals in futures flow, Shiba Inu's burn metric has seen a dramatic collapse, plummeting by nearly 100% since the weekend, raising concerns for the asset.
XRP Activity Heats Up Amidst Mixed Market Signals
Over $165 million worth of XRP has been observed in significant on-chain movements, with direct links traced to subwallets of major cryptocurrency exchanges, Kraken and Binance. Analysts are questioning whether these transfers, occurring while XRP trades around $1.41, represent strategic repositioning or signal other underlying market dynamics.
Further analysis of XRP reveals a landscape of mixed signals, particularly concerning its four-hour futures flow, which experienced a drastic -3,711.06% drop. Despite this volatility, a tentative sign of returning optimism has been noted, suggesting a complex sentiment mosaic for the asset.
Shiba Inu's Burn Metric Plummets Dramatically
In contrast to XRP's nuanced situation, the Shiba Inu ecosystem has faced a significant setback. A key SHIB burn metric has collapsed by an astonishing 91% since the weekend, representing an almost 100% decline. This sharp reduction in token burning activity raises concerns about the supply dynamics and community engagement for the popular meme coin.