The Floki Inu team reduced the tax on the ecosystem to 0.3%. Santiment explains what’s behind Cardano’s rise in 2023. Ripple (XRP) has been the most traded token by the top 100 BSC whales in the last 24 hours, according to the data. There has been a massive price increase for Shiba Inu ecosystem tokens. Finally, Dogecoin finally broke the 3-month record. Keep reading us for details…
Important news from ADA, Ripple, SHIB, DOGE and FLOKI
FLOKI lowers transaction tax after burning 5 trillion tokens
The meme coin Floki Inu (FLOKI), affectionately described as the public’s crypto, has officially reduced its taxation on the ecosystem to 0.3%. The Floki team announced the discount on official Twitter yesterday, stating that it complies with the decision of the decentralized autonomous organization (DAO). The group added that it sought to accelerate FLOKI token adoption with the final decision by lowering the barrier to entry, making it easy for users to trade seamlessly with virtually no transaction tax.
A few weeks ago, the Floki DAO offered to burn about 5 trillion units of FLOKI tokens on the bridge. Interestingly, the proposal was accepted with a 99.97% majority in favor of burning bridge tokens, while only 0.03% voted against the proposal. It is noteworthy that the 4.97 trillion FLOKI tokens that will be burned were initially worth $55 million when the offering was launched. However, by the time the DAO voting ended, they had surpassed $102 million.
Who is behind Cardano (ADA)’s increase?
According to on-chain analytics firm Santiment, Cardano’s rise in 2023 may have been driven by whale accumulation. Accordingly, Cardano whales are showing significant signs of life, with the net seeing the highest number of whale transactions since the collapse of FTX. This means that addresses with 100,000 to 100 million ADA now come as the highest value addresses in their combined wallets since 8 November.
On February 4, Santiment observed that large transactions exceeding $100,000 hit a 12-week high. Santiment analysts said, “The price of Cardano has increased by +65% in 2023, and keychain and whale hoarding has had a huge impact on that. Addresses holding 100K and 100M ADA are now the addresses holding the most in their combined wallets since November 8th. Whale transactions exceeding $100,000 today have reached a 12-week high,” he explains.
Ripple (XRP) is the most traded token among whales
The global digital asset market saw a marginal gain on Saturday as the price of top cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) fell amid growing selling pressure. But BSC whales were caught moving Ripple (XRP) in the middle of the last drop.
Meanwhile, among the top 10 cryptocurrencies calculated based on the last 90-day record, XRP was the biggest loser. Ripple price experienced a massive 17% drop during the given period. On the other hand, Bitcoin price has managed to increase by around 10% in the last 90 days. XRP price drop shows it has failed its recent relief rally, while other tokens manage to recover by printing green indices. However, this fall came as the long-running SEC and Ripple lawsuit sent several positive news for the token consistently.
What caused the huge price increase on the Shiba Inu?
The price surge of Shiba Inu Metaverse coins, Shiba Inu (SHIB), Doge Killer (LEASH), and Bone ShibaSwap (BONE) over the past 24 hours has managed to restore confidence in the meme crypto community. The cumulative meme coin cap has increased by 7% in the past day, reaching $21.3 billion. According to the data, BONE price has increased by 23% in the last 24 hours, making it one of the top earners among the top cryptocurrencies. However, this increase was supported by its listing on a crypto exchange.
XTexchange announced in a tweet that it will list ShibaSwapDex along with some other projects. The exchange will release it to the Innovation Zone, which they also call HOT COIN. However, it will be listed under the USDT pair. It is important to note that BONE is the governance token for ShibaSwap that gives users the power to vote on key proposals presented in the protocol. Since the announcement, ShibaSwap 24-hour trading volume has increased by 204% to $30 million. The BONE price increase managed to create a bullish trend for other Shiba Inu ecosystem tokens.
Dogecoin (DOGE) finally breaks 3-month record
cryptocoin.comAs you follow, Dogecoin (DOGE) lost momentum after Elon Musk took over Twitter in late October 2022. However, the biggest meme-coin finally hit $0.1 for the first time in three months. DOGE failed to touch the target after falling from a peak of 14 cents in November 2022 due to FTX-related contagion. The psychological barrier of 1 cent is significant in the current scenario as regulators become increasingly skeptical of the crypto sign after the collapse of FTX.
It is also encouraging that meme-coins are currently leading the price rally in the market as Bitcoin (BTC) is experiencing a correction in gains. Dogecoin price is at $0.10, up 6.22% in the last 24 hours. The DOGE community is getting more and more bullish as the meme-coin hits 0.099.
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