IntoTheBlock Archives - Times Tabloid

This Notable Cardano Metric Showcases Renewed Interest in ADA

Solomon Odunayo — Wed, 01 May 2024 03:15:21 +0000

Cardano has recently witnessed a significant rise in whale activity, with the average daily volume of large transactions exceeding $13 billion over the past week.

This trend, confirmed by data from blockchain analytics firm IntoTheBlock, positions Cardano among the top performers in daily transaction volume, rivaling even the established cryptocurrency, Bitcoin.

Large Transaction Volume: A Sign of Investor Confidence?

Diving deeper into the data, we observe that the daily average for transactions exceeding $100,000 stands at a remarkable $13.84 billion. This figure represents one-third of Bitcoin’s volume during the same period and a staggering 16 times the volume of Dogecoin.

Additionally, the highest daily volume reached $14.08 billion on April 22nd, coinciding with a price recovery for ADA that saw it break above the $0.51 threshold. While a subsequent four-day bearish trend led to a decline in large transaction volume, it remained consistently above $10 billion, reaching a low of $10.32 billion on April 27th.

This sustained high volume of large transactions could indicate growing institutional investor interest in Cardano or potentially significant internal network movements. However, it is crucial to note that the direction of these transactions remains unclear, as they could represent either inflows or outflows from exchanges.

Whale Accumulation Hints at Potential Price Surge

Further analysis by Santiment reveals a continuous increase in the cumulative balance held by addresses containing between 100,000 and 100 million ADA since the beginning of April. This suggests a potential accumulation trend among large holders, which could fuel a future price recovery for Cardano.

Technical Analysis Charts a Course for Potential Price Targets

Market analyst Cobra Vanguard has identified an expanding price channel for ADA since the start of 2023. This channel exhibits a pattern of higher highs and lower lows, suggesting a potential continuation of this trend with multiple price targets in sight.

The initial target rests at $0.52, followed by $0.57 and $0.62. According to the analyst, a breach of these levels could pave the way for a further push toward $0.685 and ultimately $0.70, with the ultimate target set at $0.775.

While the exact implications of the recent surge in large transactions remain to be seen, it undoubtedly signifies a renewed level of interest in Cardano (ADA), potentially laying the groundwork for future positive price movements.

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Shiba Inu (SHIB) Sees Massive Growth In Crucial Metric

Solomon Odunayo — Fri, 05 Apr 2024 20:15:26 +0000

Shiba Inu (SHIB), the popular dog-themed cryptocurrency, has witnessed a significant development in its on-chain activity. According to data from IntoTheBlock, large holder netflow for SHIB has experienced a staggering 1,058% increase.

This metric, which tracks the difference between inflows and outflows from addresses holding significant amounts of SHIB (often referred to as “whales”), suggests a potential shift towards accumulation by these large investors.

Large Holders Drive Accumulation

Large holder NetFlow is a valuable indicator of whale sentiment over a cryptocurrency. A positive netflow, as seen in SHIB’s case, signifies that whales are accumulating more SHIB than they are selling.

This could be due to several factors. The recent price dip in SHIB might have presented an attractive buying opportunity for whales, allowing them to acquire SHIB at a lower price point. This strategy of capitalizing on market corrections to strengthen positions is a common tactic employed by large holders across various asset classes.

Price Levels to Watch

SHIB is currently trading at 0.00002729 with a 3.68% increase in the past 24 hours and a 14.36% decline over the past week. On-chain analysis can provide insights into potential future price movements.

The key resistance levels to watch for SHIB are $0.000028 and $0.000030. IntoTheBlock’s data reveals that significant buying pressure existed around these levels in the past, with over 59,000 addresses acquiring SHIB at an average price of $0.000029.

Conversely, if the price falls and breaks its current trading range, the next potential support zone lies between $0.000019 and $0.000024. Here, on-chain data indicates buying activity from over 70,000 addresses at an average price of $0.000022.

Influx of New Meme Coin Investors

Beyond the large holder activity, IntoTheBlock also highlights an intriguing trend: a surge in new investors entering the meme coin market. The number of addresses holding meme coins for less than 30 days has reached an all-time high, suggesting a significant influx of new participants. Shiba Inu, as a prominent meme coin, has benefited from this trend, with its total address count nearing the 4 million mark.

The combined factors of increased large-holder activity and a growing investor base suggest potential optimism for SHIB. However, it’s important to remember that cryptocurrency markets are inherently volatile, and past performance is not necessarily indicative of future results. Keeping an eye on key price levels and broader market movements will be crucial for investors navigating the Shiba Inu market.

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64 Trillion SHIB Purchased in 30 Days. Here’s the Significance

Solomon Odunayo — Sun, 24 Mar 2024 05:55:23 +0000

Shiba Inu (SHIB) has experienced significant price fluctuations in recent weeks. According to a report by crypto intelligence platform IntoTheBlock, this volatility can be attributed to contrasting investment strategies between short-term and long-term holders.

The data was shared by Slim Daddy (@felixreads), a crypto content creator affiliated with IntoTheBlock. The data reveals a surge in SHIB accumulation by short-term investors.

These addresses belonging to those holding SHIB for less than a month have increased their holdings by 64 trillion SHIB, translating to 278% within the past 30 days. This intense buying activity suggests a growing interest in profiting from short-term price movements.

This recent accumulation coincides with a period of significant price volatility for SHIB. In early March, the token’s price skyrocketed to a yearly high of $0.0000445, fueled by renewed investor enthusiasm. This price surge likely enticed many short-term traders, who entered the market seeking quick gains.

However, this buying frenzy was followed by a wave of profit-taking. As the price peaked, many short-term investors sold their SHIB holdings, leading to a sharp decline. SHIB is currently trading at $0.00002789, much lower than its March peak. Despite this decline, Shiba Inu’s lead developer, Shytoshi Kusama, believes SHIB will dominate the current bull cycle.

The Long-Term Strategy

In contrast to the actions of short-term traders, long-term SHIB holders (those holding for more than a year) exhibited a more cautious approach. While SHIB’s price surge may have presented an opportunity to lock in profits, data from IntoTheBlock indicates that these investors reduced their holdings by only 9.07% over the past month. This suggests a greater focus on long-term value potential by this investor group.

Looking ahead, the future trajectory of SHIB remains uncertain. Despite the recent price correction, prominent analysts believe SHIB will surpass its all-time high in 2024. A notable analyst recently revealed the entry point for SHIB’s climb to $0.000085, expecting the meme coin to reach that target soon.

Another prominent analyst predicted an 822% surge for the meme coin, targeting $0.00027. The consensus is that 2024 is the year SHIB will surpass its all-time high.

The recent price volatility highlights the contrasting investment strategies of short-term and long-term holders. While short-term investors have been accumulating the token in anticipation of quick profits, long-term holders have adopted a more measured approach. This approach could net them massive profits as SHIB heads towards its all-time high.

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Shiba Inu (SHIB) Surges 602% Amid Strong Bull Actions: Details

Solomon Odunayo — Mon, 18 Mar 2024 10:36:06 +0000

The popular meme-inspired cryptocurrency, Shiba Inu (SHIB), is experiencing a significant upswing in activity from large holders, also known as whales. This surge in “large holders’ net flow” indicates that whales are actively accumulating SHIB tokens, especially during the recent market downturn.

When whales accumulate SHIB by buying up large quantities, it can trigger bullish sentiment, encouraging other investors to follow suit. This buying pressure can push the price of Shiba Inu upwards.

Data analytics platform, IntoTheBlock, reports a remarkable 602% increase in large holder net flows for Shiba Inu. This accumulation trend coincides with SHIB’s price adjustment over the past 48 hours, as SHIB is currently up 6% in the last 24 hours, according to CoinMarketCap.

Following a strong inflation report, Bitcoin and the broader cryptocurrency market faced downward pressure. This bearish sentiment, fueled by the possibility of sustained higher interest rates, rippled across the sector, leading to SHIB’s price depreciation.

Shiba Inu (SHIB) Market Analysis

The current trend represents a pullback from its March 15 high of $0.0000327. Overall, after reaching a peak of $0.000045 on March 5, Shiba Inu has undergone a period of profit-taking and subsequent range-bound trading.

Market analysis suggests that SHIB needs to maintain its current price range of $0.000026 and $0.000033 to establish firm support. Within this range, approximately 61.06 trillion SHIB tokens were purchased by 4,210 addresses, with an average price of $0.00003.

Below this zone, SHIB faces weaker support where only 2.57 trillion SHIB were bought between the prices of $0.000025 and $0.000026 by 9,100 addresses. The most robust support for Shiba Inu lies within the $0.000008 to $0.000014 price range, where 439,510 addresses bought a massive 260.48 trillion SHIB tokens at an average of $0.000010.

While near-term price predictions are uncertain, SHIB is likely to undergo a period of consolidation or range trading before its next significant price movement and while whales hold significant power to influence the short-term price of SHIB, it’s important to note that broader market forces and the cryptocurrency landscape still play a major role in the asset’s long-term trajectory.

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Cardano (ADA) Massively Beats Ethereum (ETH) With This Notable Metric

Chinedu Agbakwusi — Sat, 20 Jan 2024 00:26:24 +0000

Cardano (ADA) might be witnessing declines in market variables, but that does not stop whale investors’ actions, as they have been highly active and initiating significant token transfers.

In a recently revealed post, Cardano (ADA) whale investors have moved $13 billion worth of ADA tokens from the Cardano network.

In comparison with Ethereum’s (ETH) $5 billion 7-day average transactions, Cardano’s ecosystem whale dealings were more significant in recent months, according to IntoTheBlock, a crypto market intelligence and DeFi platform.

The new revelation has attracted the crypto community’s attention. Most people never anticipated such incredible figures being meted out in whale transactions for Cardano (ADA).

Cardano Whales’ Actions Not Correlated With Action

According to Cardano’s (ADA) market statistics on Coincodex, a globally recognized crypto asset tracking site, the digital asset does not appear to replicate crypto watchers’ expectations.

Cardano (ADA) is currently changing hands at about $0.498. It is down by 10.53% and 17.07% in the past week and month, respectively.

The declines above imply that there might not be any significant demand for Cardano (ADA) despite spiking to attain price levels above $0.6, following Bitcoin (BTC) spot Exchange Traded Fund (ETF) approval.

Comparing the current Cardano (ADA) price to what was obtainable post-Bitcoin ETF approval, the token has recorded declines of about 20.5%.

Should Cardano (ADA) continue to replicate current price action, it becomes safe to say that the coin holders might be considering selling off, spewing a poor outlook for the Cardano ecosystem.

50-Day And 100-Day EMAs Corroborates Cardano (ADA) Bearish potential

Applying the 50-day and 100-day Exponential Moving Averages (EMAs) made the recent Cardano (ADA) battles to remain afloat in the crypto market more evident.

Based on the findings, the struggling crypto asset has dropped below the 50-day EMA, indicating a strong bearish signal that could be worse if ADA eventually falls below the 100-day EMA.

The 100-day EMA currently serves as a resistance to prevent the token from further declines. However, the constraint at the 100-day EMA does not appear significant to wade off future occurrences that could slash Cardano (ADA) market worth.

In summary, ADA’s price movements relative to whales’ actions have introduced an element of suspicion among Cardano enthusiasts. Whether the large transactions aim to accumulate ADA to hodl as a long-term investment strategy remains a mere speculation, as nothing seems assured.

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Cardano Gained Investors’ Confidence in October with 1.89 Billion ADA Purchase, Sparking Potential Rally

Tobi Loba — Thu, 09 Nov 2023 08:51:50 +0000

Amid the ongoing “Altcoin Season” with Bitcoin’s market dominance lowering, Cardano (ADA) has emerged as a standout performer, with its recent rally drawing significant attention. This surge can be attributed to the growing confidence of investors in ADA, particularly the Cardano whales, who have been accumulating the digital asset.

Blockchain analytics platform IntoTheBlock (@intotheblock) took to X to highlight the remarkable increase in investor confidence in Cardano in October.

IntoTheBlock wrote, “ADA got a strong vote of confidence last month. Big holders accumulated 1.89 billion ADA last month, translating to over $600 million at current prices.”

The 1.89 billion ADA accumulation during this period was described as a remarkable increase in investor confidence, which bodes well for ADA going forward. What is even more intriguing is that most of this accumulation occurred within the price range of $0.249 to $0.271.

It appears that these whales are adopting a long-term trading strategy, opting to hold their ADA rather than cashing in on immediate profits. This strategic move by Cardano whales could potentially fuel a sustained price surge toward the $0.4 mark.

Cardano (ADA): Path to $0.4

A few months back, market intelligence platform Santiment shed light on Cardano’s remarkable accumulation trends, predicting an interesting future with continued accumulation. The question on everyone’s mind is whether this accumulation phase could drive Cardano to reach the elusive $0.40 mark.

While the potential for such a rally is enticing, Cardano’s resurgence rests on the decision of these whales to either hold their tokens for the long term or sell them for a quick profit.

Dan Gambardello, the founder of Crypto Capital Venture, recently stated that those leaving Cardano would regret it in the long term. The digital asset is trading at $0.3572 at the time of press, up 2.28% in the last 24 hours. All Cardano needs is an 11.98% increase to breach the $0.4 mark.

A notable analyst recently predicted a massive potential surge for Cardano, sending the token up by 165x to over $40. This prediction is also backed by ADA’s long accumulation phase, which has lasted for several months.

However, Cardano has its competitors in the crypto market. Crypto Crossfire, a BitBoy’s podcast, recently discussed the biggest threats to the crypto project in the current crypto market.

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Cardano Dormant Addresses Move Record 43.71M ADA As Data Shows Massive Rise in Adoption

Tobi Loba — Wed, 01 Nov 2023 07:05:32 +0000

Cardano (ADA) has recently witnessed a remarkable surge in the number of old addresses transferring ADA. Old wallet activity has not been this high since April 2020.

According to data from Santiment, a market intelligence platform, this shift in ADA coincides with a resurgence in dormant coins, reminiscent of April 2022. This indicates a substantial awakening among ADA whales, which bodes well for the ecosystem.

The data reveals multiple instances of ADA movements that correlate with the age of dormant coins. The first surge occurred on August 30, followed by another from September 23 to October 1. The most recent surge is the largest, emphasizing the resurgence of the whales within the Cardano network.

What the Data Says About the Whales

Santiment’s data provides valuable insights into the activities of ADA whales and sharks in the past two weeks. These top traders, holding between 100,000 to 10,000,000 ADA, have collectively accumulated a staggering 43.71 million ADA in this short span. As a result, these addresses now control 33.43% of ADA’s total supply.

Over the past year, Cardano has experienced a substantial increase in wallet activity. Wallet activity is a crucial metric for assessing network growth, and this surge highlights Cardano’s growing adoption. Data from IntoTheBlock indicates that Cardano’s total addresses now amount to 4.46 million ADA.

In the last year, the count of daily active addresses has remained a pivotal metric for Cardano Founder Charles Hoskinson to gauge the blockchain’s growth. According to IntoTheBlock’s data, the current daily active users stand at 37.57K.

ADA’s Future

ADA is poised to conclude October on a high note. It began the month around $0.25 but has risen 14.8% over the last 30 days. ADA is currently trading at $0.2923, down 1.99% in 24 hours. At $284 million, ADA’s 24-hour trading volume is up 33.69%. However, its market cap is down 2.1% over the same period, at $10.29 billion.

Looking to the future, an analyst recently identified a several-month-long accumulation phase that ADA has been trading in. The resulting surge could send ADA up by 165x, sending it to a new all-time high. ADA’s price has climbed in the past month, and the community hopes it can keep the momentum going as we get closer to the end of the year.

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Shiba Inu (SHIB) and Shibarium Reach Two Major Milestones: Details

Adedoyin Aka — Sun, 27 Aug 2023 01:58:33 +0000

Shiba Inu (SHIB), the second-largest dog-themed cryptocurrency, has recently achieved two significant milestones that are garnering attention within the crypto community. With its groundbreaking blockchain project, Shibarium, Shiba Inu is revolutionizing the way users interact with its ecosystem. Let’s dive into the details and explore these exciting developments.

Shiba Inu (SHIB) Breaks Records with Total Addresses

Shiba Inu has shattered expectations by reaching a new record in the total number of addresses associated with its cryptocurrency SHIB.

Data provided by IntoTheBlock reveals a consistent growth pattern in the number of addresses, which has now surged to an impressive 3.56 million. This accomplishment demonstrates the increasing popularity and adoption of Shiba Inu among crypto enthusiasts.

The recently launched Shibarium blockchain is undeniably attracting a wave of new users eager to engage with the innovative Shiba Inu ecosystem. A remarkable surge in new addresses was witnessed on August 24th, with over 2,000 addresses added in a single day.

Lucie, a valued member of the Shiba Inu team, shared an update revealing that Shibarium has officially gone live, albeit in private mode. Already, a few integrations have taken place, with DEXTools, a prominent DeFi trading app, announcing its support for the new blockchain. This integration enables seamless trading of Shibarium tokens, opening up exciting opportunities for users.

Shibarium: Over 300,000 TRXs, Over 300,000 Blocks

The growth and progress of Shibarium are evident, as the Layer 2 blockchain network achieves an impressive milestone of 317,071 transactions, according to Shibariumscan, a Shibarium explorer.

Moreover, the number of interacting wallet addresses on the Layer 2 blockchain has also witnessed significant growth, currently standing at 61,917 addresses.

Continuing its trajectory of success, Shibarium has surpassed yet another milestone with the total number of blocks on its mainnet surpassing 300,000. At press time, the number of blocks produced stands at 310,713, with an impressive average block time of just five seconds. This accomplishment serves as a testament to the protocol’s scalability and stability.

In conclusion, Shiba Inu and its revolutionary blockchain project, Shibarium, have made waves in the crypto world by reaching these development milestones. With a soaring number of addresses and successful integrations, Shiba Inu’s ecosystem is certainly thriving.

As Shibarium continues to facilitate a high volume of transactions and consistently produce new blocks, it establishes itself as a reliable and advanced Layer 2 blockchain network. Exciting times lie ahead for Shibarium and the ever-expanding Shiba Inu ecosystem.

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Shiba Inu (SHIB) Sees 1,194% Increase in Large Holder Inflows. Here’s the Significance

Adedoyin Aka — Sat, 12 Aug 2023 07:54:24 +0000

The cryptocurrency Shiba Inu (SHIB) has experienced a remarkable 1,194% surge in large holder inflows, according to data from IntoTheBlock.

The Large Holders Inflow metric tracks the movement of funds into addresses belonging to whales or significant holders. Over the past 24 hours, the influx of funds from large holders has skyrocketed from 569 billion to an astonishing 2.37 trillion SHIB.

Source: IntoTheBlock

Implications of Increased Large Holder Inflows

Such a substantial rise in large holder inflows may suggest robust buying activity within the Shiba Inu ecosystem. This correlation aligns with the recent price increases observed in SHIB over the last 24 hours.

Currently, SHIB has surged to $0.00001083, a noteworthy achievement considering the losses faced by several other cryptocurrencies during the same period.

Additionally, SHIB has demonstrated a relatively 7.5% surge in the last 24 hours and a 19% increase in value over the past seven days, according to CoinMarketCap, indicating increased investors’ interest.

It should also be noted that previous Shiba Inu price increases have consistently coincided with a significant number of large transactions.

Surge in Shiba Inu (SHIB) Large Transactions

Within the last 24 hours, a remarkable 98.91% surge in large transactions has been observed, amounting to $41.49 million. Large transactions, typically exceeding $100,000, provide insights into the actions of whales and signify notable buying or selling activities by such holders. The substantial spike in this metric indicates significant movements within the Shiba Inu ecosystem.

Anticipated Partnerships and Futurist Conference

Excitement is growing within the Shiba Inu community, fueled by anticipated upcoming partnerships. Shytoshi Kusama, the lead figure behind Shiba Inu (SHIB) project, has tantalizingly teased three new collaborations on the horizon.

Meanwhile, Shiba Inu’s involvement as a title sponsor in the Blockchain Futurist Conference, scheduled for August 15th-16th, is generating further anticipation among enthusiasts.

As the market awaits these developments, the surge in large holder inflows and the rise of SHIB’s price have positioned the ever-evolving ecosystem as a significant player in the crypto landscape.

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Shiba Inu Whale Transactions Jump 25%, Fueling Bullish Sentiment for SHIB Price Growth

Adedoyin Aka — Wed, 19 Jul 2023 08:29:41 +0000

In the world of digital currencies, recent events have significantly impacted the Shiba Inu (SHIB) ecosystem. Particularly noteworthy is the sharp increase in whale transactions recorded on the Shiba Inu protocol over the past week. This surge in activity indicates a positive trend for the popular cryptocurrency.

Going by the data from crypto analytics provider IntoTheBlock, Shiba Inu whale transactions have seen a remarkable jump of 25.72%, amounting to a total value of $56.8 million. It is important to note that IntoTheBlock defines whale transactions as those holding SHIB worth $100,000 or more.

This growing metric has exhibited some volatility since the beginning of the year. However, following the recent Ripple vs SEC lawsuit ruling, the figures have climbed from a low of $28.18 million to their current levels.

Source: IntoTheBlock

Shiba Inu’s Bright Prospects: Beyond the Ripple vs SEC Hype

The allure of Shiba Inu extends beyond the general excitement surrounding the Ripple vs SEC lawsuit victory. The project aims to create a functional ecosystem, and it is now focusing on the upcoming launch of the Shibarium layer-2 protocol, slated to debut on the mainnet next month.

The combination of industry hype generated by the lawsuit and the positive expectations surrounding the Shibarium launch has ignited interest among Shiba Inu’s whale buyers. These developments are not only propelling the growth metrics but also fueling a bullish sentiment toward the token.

Implications for Price Growth

The increasing number of whale transactions in SHIB could have a considerable impact on its price growth if this trend continues. Currently, the Shiba Inu token has experienced contradictory pressures on its price and positive growth metrics.

The substantial holdings of whales complemented by the token burn rate, which reduces the circulating supply of SHIB, can contribute to a positive price trend when combined with growing demand.

Given Shiba Inu’s inherent volatility, there is potential for a turnaround in the current negative sentiment, capitalizing on the positive growth metrics to chart a new upward trajectory.

As the market eagerly awaits the launch of the Shibarium layer-2 protocol, Shiba Inu continues to attract attention and generate optimism among its investors. The future looks promising for SHIB as it capitalizes on the growing interest and positive sentiment to potentially drive significant price growth.

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