Category: Forex News

Crypto News Digest by U.Today

By Published On: March 5, 20242.2 min readViews: 3920 Comments on Crypto News Digest by U.Today

Here are the top three news stories over the past weekend brought to you by U.Today.

671,000 BTC bought by million Bitcoin addresses at this massive demand zone

Since the last few days of February, Bitcoin continues to gladden its investors by inching closer to new price highs. The largest crypto finished the past month 45% higher, marking its best result since December 2020 and sixth consecutive monthly rise. This surge could have been influenced, among other things, by the massive demand for Bitcoin from a large number of investors who bought BTC at a key price range. Crypto analyst Ali wrote in his recent X post, citing IntoTheBlock data, that Bitcoin “holds above a massive support wall, with 1 million addresses buying over 671,000 BTC within the price range of $60,334 to $62,155.” In Ali’s opinion, this demonstrates substantial investor confidence and may provide a critical level of support for Bitcoin, thereby preventing further declines. At the moment of writing, BTC is changing hands at $66,050, up 6.16% over the past 24 hours.

Dogecoin (DOGE) rally leaves 80% of investors in profit

According to data provided by IntoTheBlock, thanks to the recent rally experienced by Dogecoin, more than 80% of its investors were left in profit, indicating a major shift in the digital currency’s market dynamics. Additionally, as noted by the platform, the percentage of Dogecoin large holders, aka whales, stands at an impressive 65%, which illustrates how much of an impact these major players have on the coin’s market fluctuations. The price trajectory of Dogecoin last week was quite spectacular – over the past seven days, the dog-themed crypto surged by 95.98%; such an increase in price and investor profit can be explained by various reasons, such as its growing mainstream acceptance and the speculative dynamics inherent to the crypto market. 

3 trillion SHIB moved to Robinhood address as Shiba Inu price makes 70% jump

On Saturday, March 2, a massive transaction carrying three trillion SHIB tokens worth about $50 million was spotted by Whale Alert crypto data tracker. “3,023,255,579,400 SHIB ($49,933,096) was transferred from an unknown wallet to an unknown wallet,” reads Whale Alert’s report on X platform. The transfer was made by an unknown wallet, which sent this enormous amount of SHIB to a Robinhood-named address. The acquisition of SHIB by Robinhood came amid an incredible surge in the token’s value, which had increased by more than 70% at the time of the transfer and peaked at $0.00002888 in early trading on Saturday. Apart from its price success, SHIB has managed to surge to the 11th position in the market capitalization ranking, outperforming such prominent cryptocurrencies as Dogecoin, Ethereum and Bitcoin. Currently, SHIB is trading at $0.00002906, up 33.69% over the past 24 hours, per CoinMarketCap.

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