There has been a spike in activity from large wallet investors – popularly known as whales – affecting several altcoins, particularly Shiba Inu (SHIB)
, Sandbox , XRP and Pancake Swap , according to data from crypto intelligence tracker Santiment. These recent moves occur at a time when most of these assets are seeing significant price declines. Large wallet investor activity during a dip is considered bullish for crypto assets in the long term.
During the recent dip in crypto markets, Bitcoin and Ethereum traders suffered mass liquidations, with more than $50 million in long positions being liquidated in a 24-hour time frame. Shiba Inu and several other altcoin prices dipped in response.Crypto market capitalisation fell a further 1.6% overnight to 1,137 trillion. A brief dip in the morning to 1,113 took the market to its lowest level in almost two months. Bitcoin is down 1.7%, Ethereum is down 1.
Bitcoin slipped to $28.3K in light trading early Thursday morning before stabilising at $28.6K. The fall below $28.8K confirmed the local dominance of the bears. The following key support points are now at the next round level of $28K and then at the $27.2K area, where the 200-day moving average and uptrend support from last November are centred.Ripple filed a motion asking the court to deny the SEC's request to file an interlocutory appeal.
According to XRPL Layer 2 project builder and former lawyer Scott Chamberlain, the SEC “won on the law front and lost on the case facts.” Ripple and its executives argue that this does not justify an appeal ahead of a final verdict in the SEC vs Ripple lawsuit.
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