Bitcoin continued its declines from the prior week, dropping to lows of $32,933 on Jan. 24. According to CoinMarketCap data, BTC is down 5.54% in the last 24 hours and 20.83% over 7 days at its present price of $33,557.
As seen on CoinMarketCap, large-cap altcoins especially in the top 100 are recording losses as large as 50% in the last 7 days. Ethereum is down 9.75% in the last 24 hours and 30.89% over 7 days. The altcoin market was dealt a bigger blow as the majority of the crypto assets, especially in the top 100 are trading presently in red with most recording significant losses.
In the past seven days, assets such as Solana (SOL, -40.38%), Polygon (MATIC, -42.05%), Chainlink (LINK, -42.69%), Near Protocol (NEAR, -48.06%), Harmony (ONE, -47.10%) have shed almost half of their previous values.
In the last 24 hours, there have been nearly $395 million in liquidations according to CoinGlass. 118,326 traders were liquidated as prices plunged while the largest single liquidation order happened on Bitmex – XBTUSD value $6 million. The overall crypto market valuation stands at $1.51 trillion, a 9.08% decrease in the last 24 hours.
While the cryptocurrency market is experiencing a pullback, whales have decided to increase their holdings and specifically accumulate some Shiba Inu tokens. As reported by WhaleStats, two Ethereum whales have bought a total of 3.6 trillion Shiba Inu tokens or $73.4 million worth in recent hours with 8 transactions.
According to the blockchain data tracker, in two separate transactions, ETH whales have bought 3,174,664 MANA ($6,063,608) and 5,425,639 MANA ($10,362,970) in the last 24 hours.
Serum and dydx also caught whales’ attention as Ethereum whales bought 5,328,000 SRM ($10,815,839) and 826,736 dydx ($4,778,534) respectively.
Shiba Inu developer Shytoshi BEANsama seems to be hinting at a major NFT partnership in his latest series of tweets, though the full details remain unknown at press time.
The SHIB developer had tweeted, ”Alright… there you go. Another locked. Now we prepare the pitch,” suggesting an upcoming development as regards NFTs and gaming.
The lead dev earlier tweeted on Jan. 22: ”Looks like I better learn Italian… #soon,” to which a SHIB user replied: ”We have partnership with Lamborghini guys!!! Source: trust me, bro’.”
Though Lamborghini is yet to respond to this, a scroll through the official Twitter handle of the Italian carmaker suggests an imminent NFT launch. This seems substantiated as Lamborghini unveiled the secret artist behind the innovation.
”For our first NFT project, he brought us at the intersection between the physical and the digital world, using the matter he loves the most: art. Now it’s time for you to meet the man behind this innovation, Swiss artist Fabian Oefner”.?
Satoshi’s BEANsama responded to this saying ”I am a Super Lamborghini fan and when this year goes as planned I will make sure Shib has a Lambo!”.
SHIB trades at $0.000019 at press time.
Image Credit: Shutterstock
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