Analysis News TheBitTimes.com

Amid positive predictions for the price of the XRP Ledger (XRP) token in the next few month s, the cryptocurrency market’s largest traders seem to be doing their part to help its recovery, evident in the massive surge in the number of crypto wallets holding at least 10,000 XRP. Indeed, the number of wallets holding 10,000 XRP or more has skyrocketed in the past five weeks, reaching the number of 279,400 such addresses, which also marks a six-month high, according to the data shared by blockchain and crypto market intelligence platform Santiment in an X post on July 31. XRP 10K+ wallets vs. price chart. Source: Santiment Furthermore, the Santiment team has observed that the “correlation between these wallets and XRP’s market value has been undeniable throughout 2024,” suggesting that the rise in the number of shark and whale XRP addresses is a bullish signal for the crypto asset in line with analysts’ expectations. ...

Cathie Wood’s ARK Invest has sold another 43,956 Coinbase shares as the stock hits an 18-month high at $119.7 per share. ARK Invest, one of the companies that filed an application for a spot Bitcoin (BTC) exchange-traded fund (ETF), is again taking profits on its Coinbase (COIN) shares as the stock price surges. On Nov. 27, ARK sold 43,956 Coinbase shares from its ARK Fintech Innovation ETF (ARKF), according to a trade notification seen by Cointelegraph. Coinbase stock reached $119.7 per share at the time of the sale, giving the transaction a value of $5.3 million, data from TradingView shows. Coinbase crypto exchange has seen its shares jump to an 18- month high after rival exchange Binance and its former CEO Changpeng Zhao pleaded guilty to money laundering and sanctions violations in the United States on Nov. 21, 2023. According to data from TradingView, Coinbase stock is up 168% over the past year, surging more than 220% since January 2023. The stock is still down about 70% fr...