Wallet Address 0x2eFB50 Transfers 213 Billion SHIBs to Coinbase and OKX
According to reports, according to data disclosed by Spot on Chain, wallet addresses starting with 0x2eFB50 have transferred 213 billion SHIBs to two major trading platforms, Coinb
According to reports, according to data disclosed by Spot on Chain, wallet addresses starting with 0x2eFB50 have transferred 213 billion SHIBs to two major trading platforms, Coinbase and OKX. Moreover, the address previously transferred 230 billion SHIBs to address wallets starting with “0x66E092”, with 17.9 billion SHIBs flowing to Coin An and 15 billion SHIBs flowing to Coinbase. According to statistics, the total amount of funds flowing from the giant whale to the centralized exchange through this operation reached 245.9 billion SHIBs.
SHIB Giant Whale Transferred Nearly 250 Billion SHIBs
Introduction
Virtual currencies have always been gaining popularity and attention, but the rise of meme-based cryptocurrencies in the market has gained significant traction recently. One such crypto that has been creating waves is Shiba Inu (SHIB), a meme-based coin inspired by the popular Dogecoin currency. In recent times, there have been reports of one digital wallet address transferring billions of SHIBs to two of the biggest cryptocurrency trading platforms, Coinbase and OKX. In this article, we will delve deeper into the statistics of these transfers and understand the implications for the crypto market.
The massive transfer of SHIB
According to data provided by Spot on Chain, a blockchain analytics firm, a digital wallet address starting with “0x2eFB50” has transferred a whopping 213 billion SHIBs to Coinbase and OKX. Further analysis revealed that this address had previously transferred 230 billion SHIBs to wallet addresses starting with “0x66E092”, with significant amounts flowing to Coin An and Coinbase, respectively.
The significance of these transactions
This massive transfer of SHIBs to centralized exchanges may have significant implications for the crypto market. While investors have long been drawn to cryptocurrencies because of their decentralized nature and the lack of intermediaries, exchanges like Coinbase and OKX provide a level of trustworthiness for investors that aren’t so familiar or comfortable with decentralized exchanges.
However, the sheer amount of SHIBs transferred to these exchanges has raised concerns regarding market liquidation. Moreover, it’s important to note that large transfers to centralized exchanges sometimes signal a dump in the market, causing prices to plummet. However, it’s still uncertain how the market will behave in response to such a large deposit.
Conclusion
In conclusion, the massive transfer of SHIBs from the whale wallet to centralized exchange wallet addresses raises questions about market manipulation and volatility. The crypto market is highly sensitive to significant movements and large transfers, and the implications of such transfers are uncertain. Investors and traders should keep a close eye on the SHIB market in the coming weeks to see how the market reacts.
FAQs
1. What is a whale wallet?
A whale wallet is a digital wallet in the crypto market that holds a large amount of a specific cryptocurrency.
2. Why are large transfers to centralized exchanges concerning?
Large transfers to centralized exchanges sometimes signal a dump in the market, causing prices to plummet.
3. Can the market recover from such deposits?
It is uncertain how the market will perform following such a large transaction, but it’s important to keep a close watch on the market movements.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/13605/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
The End of Crypto Winter: HC Wainwright Analysts Predict Bull Market for Cryptocurrencies
According to reports, analysts at HC Wainwright, a renowned investment bank in New York, announced the end of the \”crypto winter\”. The bank has started giving a \”buy\” rating to the
-
Table of Contents
According to reports, according to L2BEAT data, the total network lockup volume (TVL) of zkSync Era has now reached $93.92 million after its launch, surpassing zkSync Lite ($86.22
-
VeeFriends New Platform: Burn Island
On February 16, the NFT series VeeFriends launched the deflation platform Burn Island, which allows VeeFriends NFT holders to destroy their NFT to obtain physi…
-
Why Bitcoin needs to be hard forked (why Bitcoin is big cake)
Why Bitcoin needs to be hard forked Editor’s note: This article is from William Chatter (ID: William1913), written by William Chen, and reprinted by the Daily Planet with authorization Why does Bitcoin have to be hard forked? The birth of Bitcoin is to solve the problem of “block time”, rather than just a new version that appears to solve the problem. It is not a one-way upgrade but a smaller update brought into the network, thereby changing the original Bitcoin mechanism and consensus In the past decade, with the development of technology, applications, and increasing awareness of blockchain technology, we have seen that blockchain technology is becoming more mature, which has led developers to conduct in-depth research on blockchain technology and propose some new solutions to achieve this goal. However, some of the new features in these schemes have not been well reflected, such as in the Bitcoin protocol layer, where more functions can be extended to other chains or…
-
Venture Capital Community Shows Support for Silicon Valley Bank
It is reported that as of March 12, 325 venture capital institutions, including Sequoia Capital, have signed a joint statement of support for the Bank of Silicon Valley; In addition, 650 founders who employed more than 22000 employees also signed a statement saying that they required the regulatory authorities to prevent the disaster. This statement from the venture capital industry is led by the venture capital company General Catalyst. 325 venture capital institutions including Sequoia and 650 founders jointly stated that the Bank of Silicon Valley cannot fail Analysis based on this information:The venture capital industry has taken a stand to support their own, as 325 firms, including major player Sequoia Capital, signed a joint statement in support of the Bank of Silicon Valley. Furthermore, 650 founders from across the industry, employing over 22,000 employees, also signed a statement showing their support and urging regulatory authorities to intervene to prevent potential disaster for the Bank of Silicon Valley. It is…
-
Flow, the Real Estate Company founded by Adam Neumann, is considering launching in Saudi Arabia #
On April 2nd, it was announced that the real estate company Flow founded by former CEO Adam Neumann of WeWork is considering launching in Saudi Arabia. At a conference in Miami Bea
-
The Intersection of Technology and Human Consciousness: Recap of ReState Foundation’s Virtual Conference with Vitalik Buterin and Isha Foundation Founders
According to reports, on April 25th, the ReState Foundation held a virtual conference where Ethereum co founder Vitalik Buterin and Isha Foundation founders discussed the intersect
-
Coinbase started donating to candidates supporting cryptocurrencies in the US election
According to reports, Brian Armstrong, CEO of Coinbase, said that the exchange intends to start donating to candidates who support cryptocurrencies in the US election. The statemen
-
Table of Contents
According to reports, billionaire venture capitalist Tim Draper believes that companies should hold Bitcoin and at least two other cryptocurrencies. Draper did not specify the perc
-
Suzhou releases 30 demand scenarios in 7 major fields of the metaverse, soliciting solutions from society
According to reports, the Suzhou Municipal Bureau of Industry and Information Technology recently released 30 major application scenario requirements for the 2023 Suzhou Metaverse,
-
Understanding Bitcoin Exchange Wallets: Flow and Balance
According to reports, data shows that in the past 24 hours, 2015.24 BTCs have flowed out of the exchange wallet, 6857.59 BTCs have flowed into the exchange wallet in the past 7 day
-
Gray Scale’s Position and Trust Premium Rate of Mainstream Currencies
According to the report, the data of Coinglas shows that the current total position of gray scale is 18.799 billion US dollars, and the trust premium rate of mainstream currency is as follows: BTC, – 38.19%; ETH，-49.24%； ETC，-64.07%； LTC，-47.54%； BCH，-27.84%。 The negative premium rate of gray bitcoin trust rose to 38.19% Analysis based on this information:The message reports on the current total position of Gray Scale as 18.799 billion US dollars, along with the trust premium rate of mainstream currencies such as BTC, ETH, ETC, LTC, and BCH. The data is from Coinglas, a cryptocurrency platform that deals in trading and investments. Gray Scale is a digital currency investment company that offers institutional investment in Bitcoin and other cryptocurrencies. The company’s position of nearly 19 billion US dollars indicates the growing confidence that institutional investors have in cryptocurrencies, particularly in Bitcoin. The trust premium rate mentioned in the message shows the difference between the Net Asset Value (NAV) of the…
-
Bankruptcy Judge Rules in Favor of Binance US on Voyager Acquisition Bid
According to reports, a bankruptcy judge ruled in a document submitted to the court on Wednesday that the transaction of Binance. US’s $1 billion bid for Voyager should continue, rejecting the request of the United States government to suspend litigation pending appeal. Bankruptcy Judge: Binance. US’s $1 billion bid for Voyager should continue Analysis based on this information:After a tumultuous few weeks of back-and-forth between Binance US and the United States government, the fate of the cryptocurrency exchange’s bid for Voyager has finally been determined by a bankruptcy judge. According to reports, the judge ruled on Wednesday that the transaction could continue, rejecting the request of the government to suspend litigation pending appeal. The saga began when Voyager Digital Ltd., a publicly traded cryptocurrency company, filed for bankruptcy protection in May 2021. Binance US subsequently entered into an agreement to acquire Voyager’s assets for $1 billion, which included both cash and Binance coin. The United States government filed a lawsuit…
-
The Reality Behind the Bank of First Republic of America’s Recent Stock Market Downtrend
It is reported that the stock market of Bank of First Republic of America fell more than 60%. After Silicon Valley Bank, the bank was also run late last week. Earlier today, the bank said that its unused liquidity funds exceeded 70 billion US dollars and its financial position was very stable. Bank of America’s First Republic fell more than 60% Analysis based on this information:The recent news about the Bank of First Republic of America (FBRA) has caused quite a stir in the financial world. Following the downtrend in the stock market of Silicon Valley Bank, FBRA’s stocks reportedly fell over 60 percent, leaving investors questioning its financial position. However, the situation is not as dire as it seems. The bank recently announced that its unused liquidity funds sit at over $70 billion, indicating that it is indeed financially stable despite the stock market trend. The interpretation of this news highlights the significance of understanding that the stock market…
-
The Drop in Bored Ape Yacht Club NFT Series Price: A Closer Look
According to reports, according to Cryptowatch data, the floor price of the Bored Ape Yacht Club (BAYC) NFT series has dropped to a five month low of 55.59ETH.
The price of BAYC NF -
AIP-212 Proposal Approved: APE Token to be Integrated into Shopify and Promoted Through Spotify E-commerce
According to reports, according to snapshot data, the AIP-212 proposal has been approved with 58.8% of the votes. The ApeCoin community will promote Spotify e-commerce to support A