We have some important crypto news to talk about in the market today. We’re going to be talking about the luna classic price, the Luna classic burn and we’re also going to be checking out some big news about XRP, Shiba Inu and some other critical things to be aware of in the crypto space today. I just want to kick it off with this article right here and what you can see in the crypto market. If we do check out the prices today bitcoin is hovering around the 20 000 level. But one thing that is important to know is that bitcoin shrimps and whales are buying aggressively now. So, some of the big money in cryptocurrency.
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It’s buying in now at the 20 000 level when there is fear in the market. It does say right here the smallest and largest bitcoin addresses are starting to accumulate some bitcoin exchange balances have significantly reduced. So, it looks like people are buying up crypto on centralized exchanges and potentially moving them to cold storage hardware wallets as this crypto winter kind of rolls on right now. So, right now the times are frosty in the crypto market. But, I am a believer that you know if you want to make money in the crypto market the best time to be in the market is when there is a bit of frost, when there’s lots of fear when a lot of the crowd has actually left the crypto market that is a time when you want to be studying the crypto market looking for some altcoin gems because when the good times come back that is when the crypto prices go up. There’s also something else to be critically aware of right now.
Have a look at this Binance is representing in ivory coast in Africa, so about to start lunch with finance angels community volunteers in ivory coast. If we do bring out the map here where is the ivory coast right here on the continent of Africa. This is where CZ of Binance is hanging out right now. You have to watch out for CZ Binance the BNB coin. He is on a rampage, he is making some big strides globally getting into big countries in South America, Central America now. He’s in Africa so watch out for the rise of BNB coin BB chain and Binance as a company as well.
Look at this. One XRP whale transfers 20 trillion ship the largest shipping transaction in history. We has now dropped its XRP holdings to 5 while increasing its ship holdings to 20 percent. The transaction was considered the single largest transaction ever in the history of shibuya the whale now holds over 48.7 trillion ship in the wallet so wow this uh this transfer was crazy and it looks like they’re moving from xrp trading into Shiba Inu. So, what is on the rise for Shiba is there something this whale knows that we don’t but that is some good news for Shiba. Anyway, I still think XRP is a good crypto and now I am personally a diversifier in the crypto market. Anyway, so holding both of those cryptos spreads risk and also spreads the reward as well. But that is some cool news coming out of Shiba Inu right there and we also have this news coming out of FTX Japan.
But what are they doing? They are listing dogecoin. Dogecoin is getting listed by FTX in Japan. So, the Meme economy is alive and well in the cryptocurrency space and with that let’s do an update on luna classic. So, how is this cryptocurrency going right now? What is it up to? Ad if we do take a look at the luna classic price right now. Have a look at this, so we are seeing a bit of sideways trading currently. So, I’m going to zoom out on the price graph right here. We have seen the journey of lunar classic recently with these price rises. You can see them so a lot of interest at this period of time coming into Luna classic, so lots of people buying up getting involved in this crypto community you can see a bit of uh taking profits right at this zone right here and just recently there has been a lot of sideways trading so we are waiting on quite a few things for luna classic. What’s going to happen? One of the big focuses is the burn of luna classic, so we do know the burn is up to 1.15 billion which is good to see but uh we do know what is critical 1.2 percent tax ecosystem build-out mainly and then ecosystem adoption in the background. We have had updates from CZ to Binance about whether they’re going to do a burn of lunar classic volume on the Binance exchange still to be confirmed, still to be determined. He hasn’t ruled it out.
He hasn’t ruled it in 100 yet. But, what he is saying is he did he kind of did hint at what he wants to see is he wants to see Luna classic put the 1.2 percent burn on chain. First, so we get that on chain upgrade to the burn on chain see what impact that has on the ecosystem and then after that he possibly may consider that 1.2 burn on the Binance exchange which has the big volume for this cryptocurrency. So, that is kind of what we’re waiting out for, but I do think it will take time to build out this ecosystem as well. So, you’re going to have build out of the lunar classic ecosystem. It’s going to take time. Then it’s going to come down to a decentralized community, people participating in the ecosystem getting rewarded and, of course, there’s going to be a big focus on the burn of lunar classic so this number will go up but that is kind of what we’re looking for luna classic right now in the market.
Let’s check out the crypto prices today. So, what is the crypto market up to? Some cryptos are in the green, other ones are slightly in the red. So, X X E C is up, CRV is up, CVX is up most of the other cryptos uh you know slightly down today. But I’m not worried about this at all and if we do take a look at our bitcoins price recently why the crypto market’s staying flat. You can see bitcoin price relatively a little bit flat right now. So, in the background, there’s a lot of economic things that are getting sorted out in the global economy in the meantime. It looks like bitcoin, it’s having a bit of a rest right around the 20 000 19 000 level and it is holding up even when there is a possible recession happening in the global economy right now.
This article is a transcription of a video made by Сrypto ZEUS
Original video: https://youtu.be/mI2Zp1onTTo