Category: Crypto market

Ripple Faces Crypto Armageddon, XRP crash below $3

Posted on by Olumide Adesina

XRP remains uncertain about its position and is currently trading below $3, having failed to build on the brief recovery seen between May and July. Bulls were encouraged that the worst was over when whale flows briefly turned positive during that period. However, the gains on the charts quickly faded.

 

Market watchers say that to stop the decline, whale flows need to turn positive and exceed +5 million XRP daily. Without such buying pressure from major players, XRP might be heading toward another significant correction.

The SEC approved two multi-crypto spot ETFs but delayed their launch, which added pressure on XRP. The Bitwise 10 Crypto Index Fund (BITW) was approved by the SEC to convert into an ETF on July 22. However, the launch was delayed when the agency also issued a stay order.

Furthermore, the timing couldn’t be worse. Given the signs of exhaustion in the larger cryptocurrency markets and the ongoing regulatory uncertainty, XRP needs all the support it can get. Losing whale support at this critical moment could lead to a much sharper decline. When the agency approved a rule change to allow the Grayscale Digital Large Cap Fund to become the Grayscale Digital

 

A stay order issued by the SEC also prevented Grayscale from launching the ETF, which invests in ADA, SOL, ETH, BTC, and XRP. The high of $3.3826 on August 8 could be reached with a breakout above the $3.2 resistance level. If $3.3826 is sustained, the bulls might be able to reach the all-time high of $3.6606 (Binance Exchange) on July 18. However, the 50-day Exponential Moving Average (EMA) could be exposed if the price drops below $3. In that case, XRP might test support at the low of $2.7254 on August 3.

BTC Price Prediction: US Debt, Bitcoin ETF Inflows Suggest $150K as Support Holds

Posted on by Skerdian Meta

After breaking two records in as many months, Bitcoin is consolidating around key support levels as institutional inflows and ETF demand emerge as the dominant force shaping its trajectory. Continue reading “BTC Price Prediction: US Debt, Bitcoin ETF Inflows Suggest $150K as Support Holds” →

XRP Price Prediction: Ripple Eyes $5–$6 on Legal Clarity, ETF Rush and Policy Shift

Posted on by Skerdian Meta

A wave of optimism is building in the cryptocurrency space as Bitcoin breaks new records and XRP gains momentum from legal victories, favorable U.S. policy reforms, and looming ETF decisions. Continue reading “XRP Price Prediction: Ripple Eyes $5–$6 on Legal Clarity, ETF Rush and Policy Shift” →

Ethereum Faces $500 Million Sell-Off as ETH Foundation, Whales, Hackers Exit

Posted on by Olumide Adesina

The Ethereum Foundation, whale investors, hackers, and other major players have transferred over $500 million worth of ETH in the past two weeks, raising concerns about market stability and liquidity.

According to on-chain data, the Ethereum Foundation sold approximately 6,194 ETH, or $28.36 million, while whale wallets sold $242.34 million in ETH to centralized exchanges.

These transactions, which occurred during a period of heightened volatility, suggest a significant shift in market dynamics and raise questions about the reasons behind such a large liquidity event. The sell-off was accompanied by a sharp decline in Ethereum’s net taker volume, which dropped to -$418.8 million on August 6, 2025.

Additionally, the Ethereum ETF flows showed mixed signals, with initial outflows followed by a $73 million reversal. This level of negative volume is unusual and indicates a strategic move by large holders to offload assets during uncertain times or as part of portfolio repositioning. Staking inflows have increased, signaling that some investors are shifting their focus from speculative trading to long-term value accumulation despite the selling pressure.

This pattern suggests a broader shift in Ethereum holdings from speculation to yield-generating strategies. However, the timing and scale of the Ethereum Foundation’s sell-off have attracted attention, with some analysts questioning its potential impact on the network’s governance and market perception. Hackers may have also played a role, as stolen ETH was quickly liquidated, further amplifying downward price pressure.

When illicit actors are involved, it becomes difficult to determine whether the sell-off is driven by malicious activity, risk management, or strategic positioning. The Ethereum Foundation has defended its actions, stating that the sales were conducted to maintain neutrality and reduce exposure to staking-related risks.

 

Ripple’s XRP Saga Ends as SEC Submits Case Closure Report

Posted on by Olumide Adesina

The long-running lawsuit has been resolved by the United States Securities and Exchange Commission (SEC), which submitted a status report to the Court of Appeals to confirm a joint venture with Ripple Labs.

 

The United States’ defense attorney, James Filan, reported that the SEC has indicated in a status update that the joint stipulation is still pending and awaiting court approval. Earlier this month, the US SEC filed a joint stipulation for dismissal after formally withdrawing the appeals.

However, the status remains pending because the Court of Appeals has not yet approved the joint stipulation dismissal.

The SEC’s efforts to advance President Donald Trump’s crypto agenda have significantly benefited Ripple Labs.

The SEC has initiated a related project called “Project Crypto” in response to President Trump’s pledge to make the US a crypto hub. With the explicit goal of establishing the US as a global cryptocurrency center, SEC Chair Paul Atkins said on Friday that the Project Crypto initiative will support company growth and investor protection.

Through legal channels, Ripple has already taken strategic steps to promote widespread adoption of XRP. Ripple USD (RLUSD) increased to a market value of $666 million with a 24-hour average volume of about $187 million. Interestingly, the on-chain burns of XRP, which already has a fixed maximum supply, are heavily influenced by the broad adoption of RLUSD.

Trillions of SHIB Exit Coinbase amid high Whale Activity

Posted on by Olumide Adesina

A sizable Shiba Inu (SHIB) holder transferred trillions of tokens from Coinbase to a private wallet, showing significant accumulation during the ongoing consolidation phase of the meme coin. As SHIB reported a weekly decline of 4% and was trading near short-term support levels, the transfer occurred.

Shiba Inu

Whale Alert, an on-chain monitoring service, reported 3 trillion SHIB tokens were transferred from Coinbase Prime to a self-custody wallet on Friday. The size and timing of this transaction, worth millions of dollars, attracted attention, especially since it occurred while SHIB’s price was under pressure.

More whale activity was observed on the same day. Blockchain data showed that through 13 separate transactions, wallet address “0xfd47” bought 193.59 billion SHIB from Coinbase. Twelve subsequent transactions, totaling 179.52 billion SHIB in batches of 14.96 billion each, followed the initial transfer, bringing in 14.063 billion SHIB from Coinbase’s hot wallet. As of now, this address holds no additional assets.

Volatility was evident in the intraday price fluctuations, as SHIB opened near $0.00001298, then dropped to $0.00001254 in the afternoon. Overnight, the token rebounded to just below $0.00001300, but by midday, it could not sustain its momentum.

Technical indicators show balanced momentum between buyers and sellers, with the Relative Strength Index (RSI) at 47.85. The signal line increased slightly to 48.71, indicating possible market indecision.

BitMine Doubles Down on Ethereum with 28,650 ETH Buy

Posted on by Olumide Adesina

BitMine purchased an additional 28,650 ETH, bringing its total Ethereum holdings to 1,174 million.

According to Arkham’s blockchain data, the transaction was completed using over-the-counter (OTC) addresses before being transferred to BitMine’s WalletSimple storage system. Despite the market crash today, BitMine’s aggressive purchasing of ETH signifies a strong long-term belief in the value of Ethereum.

Tom Lee, one of the most optimistic analysts in the cryptocurrency space, is expanding BitMine’s ETH portfolio by capitalizing on the recent dip in cryptocurrency prices. This behavior is similar to past patterns of institutional accumulation, where large buyers acquire assets during temporary price declines. On-chain transaction data confirms multiple such activities.

The broader crypto market has also experienced a surge in “buy the dip” sentiment, especially among major players.

Whale activity has increased significantly, and  Ethereum holdings have been growing steadily

Some analysts compare Ethereum’s trajectory to Bitcoin’s, with Tom Lee suggesting that Ethereum could potentially see a 100x price increase similar to Bitcoin’s historic growth. While these projections are speculative, they highlight the growing optimism about Ethereum’s long-term prospects.

The short-term outlook remains cautious despite this confidence. Some traders expect a possible price correction to around $2,400, viewing it as a better entry point. However, the recent accumulation by firms like BitMine signals institutional confidence in Ethereum’s resilience and future value. The market continues to monitor whale activity and institutional investments that could influence Ethereum’s next phase of price movement.

Cathie Wood’s ARK Dumps 1,268 BTC on Coinbase Amid Market Volatility

Posted on by Olumide Adesina

ARK Invest transferred 1,268 BTC (around $149 million) to Coinbase about half an hour before their post, according to @lookonchain.

The transaction was classified as an exchange inflow rather than a self-custody move, identifying the sender as ARK Invest and the recipient as Coinbase,  based on Arkham Intelligence entity labels (source: Arkham Intelligence via @lookonchain). The amount of Bitcoin immediately available on the exchange increases with large deposits to centralized exchanges, which traders monitor as potential sources of short-term volatility.

Market participants regularly observe the depth of Coinbase’s order book and the Coinbase Premium Index surrounding these inflows over the short term to see if sell pressure emerges. In a noteworthy move that has attracted interest from cryptocurrency traders worldwide, ARK Invest recently transferred 1,268 BTC, or  $149 million, to Coinbase.

Market participants projected that such a transaction could influence Bitcoin’s price movement and overall market sentiment,

This move to a major exchange like Coinbase could signal plans to sell, provide liquidity, or reposition strategically amid volatile market conditions. Institutional investors like ARK Invest often signal shifts in investor confidence.

Gemini’s IPO Filing Signals Crypto’s Public Market Push

Posted on by Olumide Adesina

Gemini, led by billionaire Winklevoss twins, filed for an initial public offering (IPO).

According to a filing with the US Securities and Exchange Commission on Friday, the crypto exchange and custodian based in New York City ended the six months through June 30 with a net loss of $282.5 million on $67.9 million in revenue, compared to a net loss of $41.4 million on $73.5 million in revenue during the same period last year.

The filing states that Gemini was founded in 2014 and currently has over $18 billion in assets on the platform.

Gemini’s revenue was 65.5% derived from volume-based trading transactions in the first half. The Trump administration’s support for the cryptocurrency sector and the passage of crypto legislation have prompted many companies to go public.

Stablecoin issuer Circle Internet Group Inc. went public in a $1.02 billion IPO in June, rising 168% on its first day of trading, while cryptocurrency exchange Bullish surged 84% after raising $1.11 billion earlier this week.

Gemini, with Tyler and Cameron Winklevoss serving as CEO and president, offers a cryptocurrency exchange, a US dollar-backed stablecoin, crypto staking, and a credit card that rewards users with cryptocurrency. Its institutional services include over-the-counter trading and custody.

The Bloomberg Billionaires Index estimates that Cameron and Tyler are each worth $7.5 billion. They are the only Gemini shareholders listed in the latest filing with holdings of at least 5%. The US Securities and Exchange Commission (SEC) dropped charges against the company earlier this year for selling unregistered securities to retail investors through its Gemini Earn crypto asset lending program in 2023.

Without admitting or denying responsibility, the company agreed to pay $5 million to resolve a lawsuit filed by the Commodity Futures Trading Commission in January. According to the lawsuit, Gemini attempted to introduce the first Bitcoin futures contract subject to US regulation while misleading the regulator.

Short Sellers Feast as Bitcoin Sinks Below $117K

Posted on by Olumide Adesina

Bitcoin dropped below $117,000, sparking debates about new market turbulence and shifting investor sentiment. The decline has triggered significant reactions across the cryptocurrency market, driven by institutional trading pressure and macroeconomic shocks.

This movement is linked to broader financial market trends, such as rising U.S. inflation data and the uncertainty surrounding potential Treasury actions related to Bitcoin.

The correction followed a recent peak of $124,517, dropping to $117,200 within a day. Over 218K traders were affected by the liquidation of more than $1 billion in leveraged positions during this period.

Institutional demand remains strong despite the sharp sell-off, with BlackRock’s iShares Bitcoin Trust (IBIT) adding over $500 million worth of Bitcoin in a single day, suggesting that institutional investors view the decline as a good entry point.

The combined ETF trade volumes of Bitcoin and Ethereum reached $11.5 billion, a liquidity level comparable to the daily trading volumes of major stocks. Technically, Bitcoin is forming a potential double-top pattern after pulling back from its cycle high, highlighting a possible disconnect between institutional accumulation strategies and retail-driven panic selling. While a breakdown below $117,000 could indicate a further decline toward $113,000–$115,000, a daily close above $119,500–$120,000 would suggest renewed bullish momentum.

The 4-hour chart indicates inconsistent buying pressure and waning momentum, along with lower highs.. All of the main EMAs and SMAs remain in bullish territory, confirming a generally upward trend. The macroeconomic environment has played a key role in Bitcoin’s recent performance.

Concerns were raised when the July Producer Price Index (PPI) revealed that inflation had risen to 3 percent year-over-year, exceeding forecasts.