Altcoin
Chainlink Whales Dump Heavily Sparking Concerns; Is LINK At Risk
Chainlink whales’ decision to heavily offload LINK tokens caused a market stir on Wednesday, signaling the coin’s price is at risk. Notably, on-chain data by a top crypto analyst revealed that roughly 4 million tokens were dumped in the last 48 hours. In turn, bearish market sentiments bubbled the coin, with its price extending its weekly loss to 15%.
Chainlink Whales Offload Heavily Igniting Market Concerns
According to an X post by crypto market analyst Ali Martinez on February 5, Chainlink whales dumped 4.13 million tokens to exchanges in the last 48 hours. The massive dump amid the broader crypto market’s recent waning movement has set off severe investor concerns about future performance.
For context, massive whale dumps to exchanges flag a loss of large-scale investors’ confidence in the asset’s potential. As a result, the future performance remains at risk, with the broader trends further solidifying bearish market sentiments.
Crypto Market Wanes
Aside from the bearish Chainlink whale activity, another factor threatens the coin’s price. The global crypto realm has seen alarming price drops this week, primarily attributed to trade war speculations amid Trump’s new tariffs. Although postponed for 30 days, the new tariffs still threaten the global markets.
In sync with this saga, even the crypto market sees a downtrend, with BTC and altcoins tanking notably in the past 24 hours. LINK price also mirrored a similar action intraday.
Chainlink Price On Shaky Grounds?
At the time of reporting, LINK price lost nearly 2.5% and exchanged hands at $19.58. The coin’s intraday low and high were $19.37 and $21.26, respectively. As mentioned above, the current waning action aligns with the broader market trend and increased selling pressure amid Chainlink whales’ selloffs.
However, recent data by Santiment indicated that LINK has stood out amid the recent market swing down. Notably, the coin witnessed heavy key stakeholder dip buying, with massive on-chain activity recorded below the $20 level. This data has set off contrasting speculations over the asset’s long-term prospects.
Also, a recent Chainlink price analysis by CoinGape aligned with Santiment’s data, revealing that the recent dip is a potential buy-the-dip opportunity for investors. Traders and investors are keeping the coin on their radars as broader market stats continue taking dynamic shifts.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
XRP price is once again facing strong selling pressure, crashing more than 8% and moving back to $2.50. The Ripple token fall comes as the XRP Ledger halted blockchain production for nearly an hour on Tuesday. However, Ripple CTO David Schwartz has confirmed that the network has recovered and is almost back to normalcy.
XRP Price Drops Amid XRP Ledger Downtime
On Tuesday, the XRP Ledger faced some downtime for an hour before resuming operations. However, the development was enough to send XRP price down by 8% to its crucial support of $2.50.
With the XRP Ledger halting the block production for an hour, the network activity froze at the ledger height of 93927173. The Ledger has once again resumed normal operations without reporting any loss of transactions or assets.
Ripple CTO David Schwartz acknowledged the development stating: “We don’t know exactly what caused the issue yet”. He further noted that although the consensus was running, the validations were not published which caused the network to drift apart. “Validator operators manually intervened to choose a sane starting point and begin publishing validations from there,” he added.
Ripple Community Celebrates Quick Network Recovery
Commenting on the network recovery, the Ripple CTO referred to the Unique Node List (UNL), a core component of the XRPL consensus mechanism. “Very few UNL operators actually made any changes, as far as I can tell, so it’s possible the network spontaneously recovered. I’m not sure yet,” said Schwartz. Other community members have backed Ripple for this quick recovery. Edo Farina, head of XRP Healthcare, the first healthcare platform built on the XRP Ledger said:
“The $XRP Ledger has been operational for over 110,000 hours since its launch in 2012. With today’s halt, the total downtime where validators failed to agree on transactions reached about 2 hours. That’s 99.999% of efficiency. The MOST efficient blockchain in existence!”
He further clarified that the Ripple network halt wasn’t typically the outcome of network congestion but instead related to the consensus mechanism.
Last week, the XRP Ledger implemented the AMMClawback amendment, a significant upgrade aimed at bolstering the regulatory compliance of its Automated Market Maker (AMM) pools.
Will XRP Price Bounce Back Again?
As of press time, XRP price is down 7.3%, trading at $2.51, with daily trading volumes crashing 41% to $13.11 billion. Furthermore, the Coinglass data shows that XRP futures open interest is down 12.2% to $3.65 billion while the 24-hour liquidations have soared to $21 million.
Earlier this week, Ripple unlocked 500 million XRP amid discussion around XRP reserves. Since the beginning of 2025, XRP has seen strong inflows. Coinshares report shows that the Ripple cryptocurrency has solidified its position as the second-best performing altcoin, recording year-to-date (YTD) inflows of $105 million.
Notably, the digital asset attracted $15 million in inflows just last week, underscoring growing investor interest. Additionally, the push for introducing spot XRP ETF by asset managers Grayscale and Canada’s Purpose Investments has further drawn institutional interest.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The crypto market on Wednesday again illustrated a volatile movement after showing signs of recovery recently. Bitcoin (BTC) price slipped back to the $98K level over the past day, whereas altcoins like Ethereum (ETH), Solana (SOL), and XRP have mainly mimicked a waning movement. However, MELANIA meme coin defied the broader market trend, trading dominantly in the green zone.
Here’s a closer look at some of the most trending coins for the day and how they are delivering.
Crypto Market Volatility Sparks Investor Concerns
Despite Trump’s new tariffs being paused and the broader market showing signs of recovery yesterday, a highly volatile movement kicked in on February 5. Cryptocurrency prices mainly dropped, with the global market cap further shrinking by 2.84% to $3.22 trillion. Also, the total market volume declined 24.46% from yesterday, reaching $193.74 billion.
Bitcoin Price Fluxes Near The $98K Level Amid Crypto Market Volatility
At the time of reporting, BTC price lost nearly 3% in value and exchanged hands at $98,054. The flagship coin’s 24-hour low and high were $96,208.11 and $100,826.91, respectively. Notably, the current waning action aligns with BTC recording $123.44 million worth of liquidations intraday, per Coinglass data. However, Bitcoin’s market dominance was up 0.07% to 60.40%.
Ethereum Price Cracks Over 3%
ETH price mimicked a waning action in tandem with the broader crypto market trend, down slightly over 3% to $2,721. The coin’s intraday bottom and peak were $2,636.17 and $2,869.51, respectively. It’s worth mentioning that Ethereum recorded $146.76 million worth of liquidations in the past 24 hours, signing with the price dip.
XRP Price Drops 8%
Further, the Ripple Labs-backed cryptocurrency witnessed an alarming 7% fall over the past day, reaching $2.51. The coin’s 24-hour low and high were $2.44 and $2.73, respectively. Notably, XRP price pulled back amid the network facing issues regarding consensus running and validations, as spotlighted by Ripple CTO David “JoelKatz” Schwartz on X.
Solana Price Drops In Sync
Meanwhile, SOL price mirrored the broader market trend, dipping nearly 4% to $207. The coin’s 24-hour low and high were $202.85 and $218.30, respectively.
Meme Crypto Market Wanes
Simultaneously, meme coins like DOGE, SHIB, and PEPE also tanked remarkably. DOGE price was down by over 6% intraday, resting at $0.2642. SHIB price slipped by 2% over the past day and is now trading at $0.00001593. Further, PEPE price plunged over 4% and is currently sitting at the $0.00001 level.
Top Crypto Market Gainers Today
Official Melania Meme (MELANIA)
Price: $1.68
24-Hour Gains: +16%
Sui (SUI)
Price: $3.67
24-Hour Gains: +4%
Pudgy Penguins (PENGU)
Price: $0.01343
24-Hour Gains: +4%
Hyperliquid (HYPER)
Price: $25.58
24-Hour Gains: +3%
Top Crypto Market Losers Today
Ethena (ENA)
Price: $0.5962
24-Hour Loss: -9%
Aerodrome Finance (AERO)
Price: $0.8903
24-Hour Loss: -8%
Jito (JTO)
Price: $2.89
24-Hour Loss: -7.5%
Kaspa (KAS)
Price: $0.09811
24-Hour Loss: -7%
Overall, broader market sentiments remain optimistic about long-term prospects, given recent developments around a U.S. Bitcoin reserve. Notably, Crypto Czar David Sacks revealed that the U.S. is currently evaluating the creation of a strategic Bitcoin reserve, CoinGape reported. In turn, market experts eagerly await the bullish development, with some expecting a better state of prices across the sector in the future in light of this development.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Shiba Inu whales are back in action, initiating massive transactions worth millions of dollars. Recently, on-chain data revealed that Shiba Inu whales had moved a staggering 15.1 trillion SHIB tokens in just one day. This significant SHIB transfer comes amid its market crash to new lows. With the increased whale activity, the question arises of whether these large-scale investors are preparing for a potential surge in the price of SHIB.
Shiba Inu Whales Make Big Moves With 15 Trillion SHIB Transfer
IntoTheBlock’s data reveals that large-scale SHIB holders, commonly referred to as Shiba Inu whales, have executed another massive transaction. In the last 24 hours, Shiba Inu whales moved a staggering 15.1 trillion SHIB tokens, valued at approximately $253.05 million.
This large-scale SHIB transaction has caught the market’s attention, as whale movements often influence market sentiment and impact price trajectories. On February 2, Shiba Inu Whales transferred a whopping 4.3 trillion SHIB tokens, valued at $66.22 million. This transaction marked a significant increase of more than 2.8 trillion SHIB compared to their previous transaction of 1.5 trillion SHIB recorded on February 1.
However, it appears that the activity of Shiba Inu whales has intensified even further. These large-scale token holders executed a recent 15.1 trillion SHIB transfer, representing an astonishing increase of 10.8 trillion from the previous day’s transfer of 4.3 trillion.
Interestingly, this increase in whale transactions comes as the market experiences a significant crash. Following United States (US) President Donald Trump’s trade war with China, Mexico, and Canada, the crypto market has been in a downturn. Big players like Bitcoin and Ethereum have crashed significantly, with BTC trading below the $100,000 mark and ETH down below $3,000.
Shiba Inu was also among the cryptocurrencies affected by the market volatility. CoinMarketCap’s data reveals that SHIB experienced a 20% crash over the week, driving its price to new lows. While the meme coin has recovered slight gains of about 6.4% in the past 24 hours, its recent downtrend still reflects ongoing bearish pressure.
Amidst the downtrend, IntoTheBlock reports that large holder inflows have skyrocketed by 553.59% in the last seven days. On February 2, large-scale SHIB holders had accumulated 1.27 trillion SHIB. However, their buying activity surged dramatically the next day, with whales purchasing an impressive 6.51 trillion SHIB.
Despite the significant uptick in whale inflows, ITB’s data shows an extraordinary rise in outflows. Whale outflows skyrocketed by 1,290% in the last seven days, with 967.25 billion SHIB sent out on February 2. This trend continued the next day when whales moved an astonishing 6.5 trillion SHIB, marking a difference of over 5.5 trillion compared to the previous day.
Are SHIB Whales Preparing For A Price Rally?
While large-scale transactions often influence market trends, it’s still uncertain if the recent increase in Shiba Inu’s whale movements signals an impending price rally. Based on CoinMarketCap’s data, Shiba Inu appears to be showing signs of slight recovery from its recent downtrend, possibly driven by the surge in whale transfers.
However, despite this rebound, the price of Shiba Inu remains well below its 2024 price high of over $0.00002. As of writing, the meme coin is trading at $0.000015, indicating a significant drop in value due to bearish market trends and changes in investor sentiment. Additionally, the meme coin’s trading volume has plummeted 38.7% in the last 24 hours, settling at $874.2 million.
Featured image from Unsplash, chart from Tradingview.com
What Caused the Block Production Stop?
XRP Price Tests Critical Barrier: Will Bulls Lose Steam?
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