Dog-themed token, Shiba Inu is back with another major announcement after that of its metaverse launch, Welly’s Integration, and that of Shiba lands that kept investors asking for more. According to an announcement shared by the Shiba Inu lead dev, Shytoshi Kusama, The first version of DoggyDAO, a decentralized autonomous organization for members of the Shiba Inu community, has launched on decentralized cryptocurrency exchange ShibaSwap this Friday.
”#ShibArmy, we are happy to announce DOGGY DAO will be officially launched in the upcoming hours with our first phase DAO 1!DoggyDao brings community voting rights, while also accomplishing a closer path to our mission for decentralization”.
Shiba Inu recently launched on Brazilian exchange, Foxit, and continues the trend of whale accumulation.
Ethereum and the rest of the altcoin market suffered declines as Bitcoin dipped to fresh lows of $39,450 on Feb. 18. Ethereum presently trades at $2,758 after dipping to intraday lows of $2,752.
IntoTheblock analytics notes that Ethereum holders, an acronym for crypto enthusiasts who have a long-term approach to cryptocurrency investing have accumulated more than 4 million ETH in 2022. It notes in mid-January holders balance grew significantly as ETH’s price crashed to $2,200 after massive unloading in Nov. 2021.
”Hodlers Accumulate 4M+ $ETH in 2022. In November hodlers appeared to unload 2 million ETH after it failed to reach the $5,000 level, marking the most recent top – Then in mid-January hodlers’ balance grew significantly as ETH’s price crashed to $2,200”
Hodlers Accumulate 4M+ $ETH in 2022
— IntoTheBlock (@intotheblock) February 18, 2022
– In November hodlers appeared to unload 2 million ETH after it failed to reach the $5,000 level, marking the most recent top
– Then in mid-January hodlers’ balance grew significantly as ETH’s price crashed to $2,200https://t.co/9d3cm20mbL pic.twitter.com/NwAfT7dyMj
ETH Volume by Time Held, Source: IntoTheBlockMike McGlone, Senior Strategist at Bloomberg says ”If armed conflict erupted in Europe, the U.S. dollar could be a primary beneficiary; but in cryptos, the buck has already won. The fact that Ethereum made crypto dollars possible, along with the escalating use of the technology to transact greenbacks, supports Ethereum’s price”.
On-Chain analytics, Santiment notes that XRP is facing the largest accumulation in five years as mega whale addresses show extended accumulation for the second time since the inception of the cryptocurrency.
”The second-largest $XRP accumulation in the past 5 years by top-tier whales is in progress. There are currently 336 #XRPNetwork addresses that hold 10M $XRP or more. Many of these undoubtedly belong to exchanges, but this is still a notable anomaly”
? The second largest $XRP accumulation in the past 5 years by top tier whales is in progress. There are currently 336 #XRPNetwork addresses that hold 10M $XRP or more. Many of these undoubtedly belong to exchanges, but this is still a notable anomaly.? https://t.co/tKBc7FSVVA pic.twitter.com/kCxtEsNgxO
— Santiment (@santimentfeed) February 18, 2022
Ripple co-founder Chris Larsen, one of the two defendants in Ripple SEC Lawsuit says he does not oppose unsealing crucial legal memos in their entirety, according to a recently submitted letter to Federal Judge Analisa Torres of the US District Court for the Southern District of New York.
In a statement shared with Fox Business, Stuart Alderoty, Ripple’s general counsel, said that two documents from 2012 will show that the XRP cryptocurrency was not viewed as an unregistered security.
Image Credit: IntoTheBlock, Santiment, Shutterstock
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