Korean exchanges rename XRP, a whale moves 3.3 trillion SHIB, and Dogecoin sees a surge in open interest. These are some of the key crypto developments from the past few days.
Major Korean cryptocurrency exchanges have made a surprising move, officially renaming XRP from its previous association as Ripple coin. The Korean name for the token on these three exchanges is now officially XRP ( XRP ) and not Ripple ( XRP ). All three platforms cited an official request from Ripple dated January 27th, where the company urged for the correct use of the term for the XRP digital asset.
As stated in the press release, Ripple aims to avoid confusion between the name of the virtual asset, 'XRP,' and the company, 'Ripple,' emphasizing that XRP is separate from Ripple and that Ripple does not manage, control, or solely own XRP. This confusion stemmed from times when the token was called 'Ripple,' so it seems like the old association is finally being rectified on the South Korean crypto market. A massive 3,368,549,976,020 Shiba Inu (SHIB) tokens were transferred from one unknown wallet to another in a single minute on Friday, February 7th. The value of this staggering transaction amounted to $51,151,431, making it one of the most significant single whale transactions witnessed this year. While the exact reason behind this move remains unclear, it could be attributed to portfolio balancing. However, the sheer scale of the transfer has undoubtedly sparked cautious sentiment within the crypto community. Some speculate that the recent transfer of 3.3 trillion SHIB tokens might be linked to exchange activities. As of now, the meme token is trading at $0.00001587, experiencing a modest 0.35% increase over the past 24 hours, according to CoinMarketCap.Dogecoin (DOGE) has also seen a notable surge in its open interest data. On Saturday, February 8th, Dogecoin's open interest recovered its losses, reaching a total of 9.16 billion DOGE in committed assets by futures traders. Over $2.2 billion has been committed to futures trading, indicating a renewed interest in Dogecoin following a significant market slowdown. The high interest observed on major exchanges like Gate.io, Binance, Bybit, Bitget, and OKX suggests a potential breakout for DOGE. Gate.io stands out as a key player, hosting a substantial number of DOGE investors and boasting the highest exposure on the futures market with a total commitment of $754.73 million, representing 32.9% of the market share. The price of DOGE has also witnessed a modest 0.73% price increase over the past 24 hours, settling at $0.2527. Investor optimism remains strong, fueled by the anticipation of a potential DOGE ETF product launch, which could further stimulate future price rallies
XRP Shiba Inu (SHIB) Dogecoin (DOGE) Cryptocurrency Exchanges Whale Transactions Open Interest
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
XRP, DOGE News: XRP, Dogecoin Plunge 25% as Crypto Liquidations Cross $2.2BMost major altcoins are down 40-50% in the past month, data shows, making it one of the steepest dives in recent years.
Read more »
SHIB Burns Crash 55%, But Here's Surprising Price MoveSHIB burn rate plummets despite SHIB community's recent requests to burn more
Read more »
SHIB Burns Jump 577% With Price on Verge of BreakoutSHIB army continues its attempts to diminish circulating SHIB supply by burning millions of meme coins
Read more »
Dogecoin Leads Altcoin Rally, Outperforming XRP, Solana, and CardanoDogecoin (DOGE) has surged ahead of other prominent cryptocurrencies, including XRP, Solana (SOL), and Cardano (ADA), during an altcoin rally. DOGE's price has climbed by over 10%, while XRP, SOL, and ADA have also seen significant gains.
Read more »
3,750% XRP Liquidation Imbalance Stuns Bulls, Bitcoin ETFs Attract $250 Million, Dogecoin ETF Filing Sparks SurpriseThe crypto market witnessed a series of notable events this week, including a massive 3,750% XRP liquidation imbalance, surging Bitcoin ETF inflows, and a surprising price drop for Dogecoin following an ETF filing.
Read more »
Bitcoin Dominance at 4-Year High, While XRP Plummets and SHIB Burns CrashBitcoin dominance hits a four-year high amidst market volatility. XRP experiences a 40% price drop, but whales remain unfazed. SHIB burn rate crashes, mirroring the broader crypto market downturn.
Read more »