Bitcoin Surges: Key Factors Driving the Latest Crypto Market Rally
Weekend Crypto Roundup: XRP’s Potential Rebound, Shiba Inu’s Massive Activity, and Ethereum’s Whale Transfer
XRP Poised for a Strong July: Historical Trends Suggest a Comeback
As June wraps up, XRP finds itself grappling with significant losses, and unless there’s a major turnaround, it may conclude the second quarter of 2025 on a disappointing note. Despite a brief uptick in April, the overall trend has been lackluster, with prices hovering around stagnant levels. However, July appears to hold promise for a potential recovery. Historically, this month, alongside April, has shown consistently positive returns, with average gains of 7.9% and a median return of 6.91%. This pattern, observed over more than ten years, indicates a reliable trend rather than mere coincidence. Past performance suggests that after a sluggish second quarter, XRP often experiences a summer rally. For instance, in 2022, the asset plummeted by 59.4% in Q2 but rebounded by 44.5% in Q3. Similarly, in 2024, XRP saw a 25% decline in Q2 before bouncing back nearly 29% in Q3.
Shiba Inu Sees Massive Token Lock-Up Amid Market Fluctuations
On Saturday, June 21, data from CoinGlass revealed that Shiba Inu investors locked up an astonishing 10.71 trillion tokens, valued at approximately $129.51 million, amidst ongoing market fluctuations. Despite this activity, the price of SHIB fell by 3.32%, trading at $0.00001138. Trading volume surged by 58.65%, reaching $131.56 million, indicating that traders are either engaging in a significant sell-off or accumulating tokens at lower prices. Notably, over half of the open interest is concentrated on Gate.io, where traders hold around 54.83%, equating to roughly 6.24 trillion SHIB valued at $71.02 million. Other significant exchanges include Bitget and OKX, with holdings of 1.75 trillion and 1.23 trillion SHIB, respectively. Investors are closely monitoring the critical support level at $0.000011, where approximately 222,450 addresses have accumulated 43.8 trillion SHIB tokens. A drop below this threshold could trigger a substantial sell-off.
Ethereum Whale Activity Raises Eyebrows Amid Price Decline
On Friday, June 20, WhaleAlert reported a significant transfer of over 129,000 ETH, valued at $312,981,377, from an unidentified wallet to the Coinbase exchange. This transfer is particularly noteworthy given that Ethereum’s price was experiencing a downturn. Typically, large deposits to exchanges may indicate intentions to sell, while withdrawals often suggest buying activity. Although the exact motivations behind this transfer remain unclear, it could represent an institutional fund reallocation. The crypto market is keenly observing whether this transaction will lead to a sell-off or if the funds are being set aside for future use. At the time of the transfer, Ethereum was trading lower, reflecting a broader market sell-off that resulted in $471 million in liquidations. Currently, Ethereum is trading at $2,250, showing a 3.08% increase over the past 24 hours, according to CoinMarketCap.
