XRP network comes to life abruptly as number of whale transactions rises to three months: analysis firm - The Daily Hodl

XRP network comes to life abruptly as number of whale transactions rises to three months: analysis firm – The Daily Hodl

Blockchain analytics firm Santiment says XRP whales have printed a record three months in network activity as the token continues to endure low prices.

According to the company, transactions over $100,000 on the XRP ledger suddenly skyrocketed to levels not seen since May.

“XRP sees remarkable whale activity, as well as high optimism, in Friday’s closing hours. We’ve noticed a spike of $100,000+ XRP trades that hasn’t been matched since May 13. In addition, sentiment is at its highest point since April.”

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Source: Santiment/Twitter

Santiment also says that the term “stretches,” a satirical misspelling of “broken,” often used to describe traders who incur huge losses, exploded on social media on Friday as liquidations ran rampant in crypto markets.

“The term stretch has soared in crypto as there have been long liquidations to close out the week. As many traders have been on the upward price trend since late June, Bitcoin’s drop to $20,800 and Ethereum’s drop to the low $1,600 caused chaos.

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Source: Santiment/Twitter

The analytics firm also has an eye for Dogecoin (DOGE) and its competitor Shiba Inu (SHIB). According to Santiment, DOGE and SHIB whales were largely able to sell off the top of their respective rallies as large trades exploded simultaneously.

“Dogecoin and Shibainu both experienced major price corrections after their respective Tuesday and Sunday highs. As is often the case, the whales foreshadowed the ideal profit moments when their large trades exploded on every network.”

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Source: Santiment/Twitter

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Featured Image: Shutterstock/Valentina Photos


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