This weekend, the cryptocurrency market remained active, despite lower volatility.
One significant development has emerged: Dogecoin (DOGE) experienced an impressive 1,645% increase in on-chain activity over the past 24 hours, as per recent data.
This surge was highlighted in the Large Holders Netflow metric, where the balance of inflows and outflows for large addresses jumped from 22.35 million DOGE to 367.82 million DOGE within a single day. Large holders are defined as wallets that contain at least 0.1% of the total circulating supply.
The spike was driven by a substantial inflow of 405.82 million DOGE into these wallets, while outflows decreased by about 72 million DOGE. Such a disparity is rare, as inflows and outflows usually align closely. Overall, Dogecoin whales have been accumulating more DOGE than they have sold over the last 24 hours.
As these significant players bolster their DOGE holdings, the cryptocurrency itself seems to be in a local accumulation phase. After a period of considerable volatility in recent weeks, DOGE’s price has settled down, presenting an opportune moment for whales and “smart money” investors to make their moves. The developments over the weekend could set the stage for potential market shifts as trading picks up on Monday.
XRP (XRP) has gone up by 1.2% in the past 24 hours but, behind that mild price increase, there has been a significant spike in trading volumes. During this period, $2.4 billion worth of XRP has exchanged hands, representing an 83% increase. Just hours ago, Ripple announced the official launch of its Ethereum-compatible sidechain called […]
A community-driven initiative launched Monday is inviting Ethereum users to lock art, memories, and personal messages inside a decentralized “time capsule,” set to be opened on the network’s 11th anniversary next year.
A new CryptoQuant report highlights a growing divergence between long-term Ethereum holders and short-term Bitcoin buyers, with significant accumulation behavior unfolding in both markets amid increasing political and economic tension in the U.S.
According to a new analysis from CryptoQuant, TRON (TRX) may be gearing up for a breakout as tightening Bollinger Bands point to an imminent expansion in volatility.