SHIB Whales Make a Splash!

Activity in the Shiba Inu ecosystem has skyrocketed, with Shibarium surpassing the 90 million transactions milestone

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May your Wednesday be simply wonderful!

Here's what we've got for you today:

🐋 SHIB Whales Make a Splash While Shibarium Transactions Surpass 90M

🪙 26 Million XRP Tokens Enter Bitstamp Amidst Uncertain Times

🪜 S&P Global Releases Stablecoin Ratings, Ranks GUSD, USDP, USDC Highest

💻️ OKX DEX Hacked Via Compromised Proxy Wallets

SHIB is currently experiencing a whirlwind of activity, with large holders accumulating tokens and large transactions reaching new heights.

Shiba Inu (SHIB) recently witnessed a surge in whale activity, with a 1,079% increase in Large Holders Netflow and a 430% rise in Large Holders Inflow. This suggests that large cryptocurrency holders are actively accumulating SHIB, likely taking advantage of the meme coin’s recent price drop. Additionally, there have been multiple whale transactions moving trillions of SHIB tokens between wallets.

Whale Alert has reported a huge 26 million XRP transfer to Bitstamp, adding to the growing speculation surrounding XRP's future amid its recent price challenges.

The transfer, instigated by an unidentified whale, raised questions about the potential for even more declines in XRP's price. Initially tied to an unregistered cryptocurrency wallet, the transaction's true origins were unveiled through a thorough examination by the XRP explorer Bithomp, revealing its close connection to an anonymous blockchain address associated with Ripple.

The S&P 500 producer evaluated eight stablecoins, and gave Tether the second-lowest rating in the assessment.

In the S&P Global's assessment, Gemini (GUSD), Pax (USDP), and USD Coin (USDC) received the highest rating of 2 due to strong asset backing and regulatory oversight. Tether, despite its market dominance, received a rating of 4 due to transparency concerns. TrueUSD received a rating of 5, mainly due to insufficient information.

The hacker got away with cryptocurrencies spanning 20 different tokens, although a significant portion of them are altcoins with relatively limited market liquidity. 

OKX fell victim to a cyberattack carried out by an unidentified perpetrator. Unlike recent exchange breaches that predominantly targeted the vulnerabilities of smart contracts, this attack appears to have been executed by gaining unauthorized access to the exchange's wallet credentials. These wallets served as a secure holding for funds in escrow, awaiting the completion of transactions.


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