XRP Sees Massive Spike in On-Chain Volume Amid Rise of Development Activity: Santiment
Blockchain analytics firm Santiment reports that XRP is experiencing a significant increase in on-chain volume as development activity surrounding the digital asset intensifies. In September, XRP saw its highest on-chain volume since February 1st, along with a notable surge in development activity. Santiment also notes that Bitcoin’s recent dip is a result of fear, doubt, and uncertainty (FUD) surrounding the potential rejection of spot market BTC exchange-traded fund (ETF) applications. Additionally, Santiment suggests that the supply of stablecoins accumulated by crypto whales could indicate Bitcoin’s next move. Currently, XRP is trading at $0.496, while Bitcoin is trading at $25,797.
Key Points:
- XRP is experiencing a massive increase in on-chain volume and development activity.
- Bitcoin’s recent dip is due to FUD surrounding the potential rejection of BTC ETF applications.
- The FUD remains despite the SEC’s loss in a lawsuit against Grayscale.
- The supply of stablecoins accumulated by crypto whales could indicate Bitcoin’s next price movement.
- XRP is currently trading at $0.496, and Bitcoin is trading at $25,797.
Hot Take:
As XRP continues to see a surge in on-chain volume and development activity, it signals growing interest and utility for the digital asset. However, Bitcoin’s recent dip and the lingering FUD around BTC ETF applications highlight the challenges and uncertainties in the crypto market. The supply of stablecoins held by crypto whales could provide valuable insights into Bitcoin’s future price movements. Overall, the crypto market remains dynamic and unpredictable, requiring investors and enthusiasts to stay informed and vigilant.
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