#crypto #ShibaInu
$SHIB $ETH
:Capital in the crypto markets is shifting to meme coins as the week begins”–Paul Ebeling
The Ethereum-based dog-themed crypto asset Shiba Inu (SHIB) soared 40% in the last 24-hrs, briefly shattering a $10,000,000,000 market cap.
SHIB remains 1 of the largest altcoin holdings among Ethereum whales.
According to the on-chain tracker WhaleStats, Shiba Inu is the4th-largest altcoin holding among the 5,000 largest Ethereum whales on record.
SHIB is down about 80% from its all-time high of $0.00008616, a height reached in October of last yr.
Its current price is $0.00001671, representing a 24-hour gainer of about 32%.
In a new note to traders, the crypto exchange Kraken says ETH was its most active asset in the past wk, as a significant number of investors re-entered the market.
“The desk saw steady two way flows this week. ETH was the most active asset. Many clients took advantage of the strong ETH bid to de-risk.
The breakout conversely attracted sidelined buyers looking to redeploy cash into BTC and ETH. There was also an uptick in FLOW inquiries as the token rallied following partnership news with Meta.”
The Knights Platform is an electronic network that links the trading floors of every relevant Crypto Exchange
Market participants, Brokers and market makers can take a price on any of the linked exchanges to find and execute the best price available. Eventually, as they are on boarded, a broker on the floor of one exchange could directly place an order through Knights rather than going through a broker on another exchange.
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Editor’s Note: The market cycle is a naturally occurring phenomenon, attributable to human psychology, and has repeated itself time and time again, though with some variations, in the lives of nearly all market traded instruments. This cycle repeats itself to varying degrees but is fairly accurate in representing the shift between market sentiments of euphoria and pessimism, and an acknowledgment of this natural phenomenon is Key to profiting from any traded instrument, including Bitcoin. My workd show a return to the mean and then all-time highs in here. Tune out fear.
Have a prosperous week, Keep the Faith!
