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COINTURK NEWS > Altcoin News > Recent Developments in Cryptocurrency Markets
Altcoin News

Recent Developments in Cryptocurrency Markets

In Brief

  • SHIB burning rates significantly increased recently.

  • XRP struggles at critical price levels.

  • Justin Sun's Ethereum transactions draw attention.

COINTURK NEWS
COINTURK NEWS 1 year ago
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Kripto paralarda çalkantılı bir 24 saat yaşanırken gözler Bitcoin dışında diğer kripto paralara da dönmüş görünüyordu. Yaşananlar ise piyasanın birçok katılımcısını ilgilendiriyordu. Peki kripto paralarda neler yaşanıyor?

Contents
SHIB Burning Rates SurgeWill XRP Price Rise?Justin Sun and Ethereum Comments

SHIB Burning Rates Surge

Yesterday, according to Shibburn, the Shiba Inu community triggered a significant increase in SHIB burning rates. Thanks to the efforts of SHIB investors, 40,067,872 SHIB meme tokens were transferred to burning wallets.

Although the amount of tokens burned seems relatively low, the rate of burning indicated an astonishing 2,076% increase after the largest burning event where 20,000,000 SHIB were destroyed, and the second largest saw 1,693,629 SHIB eliminated.

The rise in burning amounts occurred following announcements by Lucie, the marketing leader for Shiba Inu, about planned developments in Shibarium for the years 2024-2025.

The list included ShibaSwap (version 1.75, then 2.0), Shibahub, Treat, ShibaEternity P2E, SHIB the Metaverse, K9finance Liquid Staking, and Layer-3 testnet among other significant topics.

Will XRP Price Rise?

XRP recently encountered resistance at a critical price level and failed to surpass it. Nevertheless, attempts to limit price declines resulted in a sharp turnaround from XRP’s moving average, indicating potential problems for the asset.

As of today, XRP continues to trade around the strong support level of $0.52, a region that has historically triggered a rebound in token prices. The next critical price level to watch for XRP is the longer-standing $0.47.

A move below this level could trigger a significant drop for XRP and lead to a prolonged decline. The last support level is at a weaker $0.41, seen as the final point.

Justin Sun and Ethereum Comments

According to a post shared yesterday by Lookonchain, a wallet believed to be associated with TRON’s founder Justin Sun, using the address “0x4359”, withdrew $22.34 million worth of 7,128 ETH from Binance.

On the other hand, Lookonchain also reported that since April 8, the mentioned wallet address has purchased 154,570 ETH valued at $492.23 million at a price of $3,177.

These price movements on the Ethereum side not only highlight Sun’s actions but also support the sentiment of a rise associated with ETH whales.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 26 April, 2024 - 11:45 pm 26 April, 2024 - 11:45 pm
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