Bitcoin continued its decline from July 8, dropping to intraday lows of $20,629 on July 10. According to CoinMarketCap data, BTC is down 4.41% in the last 24 hours while still up 8.96% over the last 7 days at its present price of $20,903.
As seen on CoinMarketCap, large-cap altcoins, especially those in the top 100, are recording losses in the last 24 hours. Ethereum is down 2.95% in the last 24 hours.
Earlier in the week, Bitcoin enjoyed some gains, being swept up in the same optimism that has carried equities higher amid encouraging signs the U.S. Federal Reserve will be undeterred in its battle with inflation.
Most cryptocurrencies were still retaining their weekly gains at the time of publication, Quant (QNT) is up 51% weekly. Amid the present market declines, the Bitcoin standard hashrate token (BTCST) is up 22% in the last 24 hours and 116.30% weekly.
BTCST is collateralized by Bitcoin’s (BTC) hashrate, with each token representing 0.1 TH/s of Bitcoin mining power at an efficiency of 60 W/TH. As such, miners contribute their computational power to the platform in exchange for newly minted BTCST tokens.
Bitcoin (BTC)
In the past month, addresses with between 10 and 100 Bitcoins have been actively accumulating the top cryptocurrency, according to a recent tweet from Santiment.
According to the Santiment analytics team, approximately 52,000 bitcoins have been added by the aforementioned crypto wallets in the last five weeks, a staggering quantity. This amount is approximately $1,124,619,600 in BTC. The purchases were made when Bitcoin was trading well below its previous highs, by about 27%.
The total amount of the leading cryptocurrency possessed by these BTC sharks has risen to an astounding 4.29 million coins as a result of their purchases.
Cardano (ADA)
While Cardano’s price has remained low this year, the chain analytics company Santiment has reported that major wallets have stopped selling ADA and started accumulating it once again.
The tweet says that over the past month, addresses owning 10,000 to 100,000 ADA have been stockpiling Cardano’s native cryptocurrency. They have now added 79.1 million coins to their stockpile of ADA.
Additionally, according to Santiment, whales who control 100,000 to 10 million ADA coins have ceased dumping their coins.
Shiba Inu (SHIB)
Shiba Inu lead developer, Shytoshi Kusama, in a blog post recently shared concerning expectations for Shibarium, SHI, and the Shiba Inu metaverse. Treat was also introduced as a reward token on Shibarium.
Treat will not only serve the purpose of rewards, but will also generate rewards for the Metaverse, and the blockchain version of the Shiba Collectible Card Game, as well as for helping to provide balance to SHI. Per the Shibburn website, The burn rate of Shiba Inu has considerably increased by nearly 234%. A portion—that is 196,820,007 SHIB tokens—was destroyed, and 25 transactions were reported by the Shibburn Twitter account.
Aside from this, millions of SHIB have been sent to dead wallets in different transactions in recent hours.
XRP (XRP)
Fox reporter Eleanor Terrett indicated that decisions on Hinman’s emails and on the SEC’s motion to seal its opposition to Amicus’s request were imminent. The SEC has made many attempts in recent months to frustrate the release of the emails that contained the draft of Hinman’s speech.
However, optimism remains following increased use cases of the XRPL. Ripple partner Peersyst Technology recently announced the launch of Colombia’s first National Land Registry on top of the XRPL Blockchain.
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