Benzinga - The cryptocurrency world was anything but dull this week. Major developments, from a surge in Shiba Inu whale transactions to significant liquidations of long crypto positions, kept the market on its toes. Meanwhile, former President Donald Trump pledged his stance against Central Bank Digital Currencies, while a crypto analyst made a bold prediction for Dogecoin’s future. Lastly, Edward Snowden couldn’t resist taking a jab at JP Morgan’s CEO over his Bitcoin comments.
Shiba Inu’s Whale Transaction Volume Soars
Despite a 4.3% dip on Thursday, Shiba Inu (CRYPTO: SHIB) witnessed a significant increase in large transaction volumes, jumping from 902.36 billion SHIB on Jan. 14 to a staggering 5.9 trillion SHIB on January 16. This 551.4% growth was accompanied by a rise in daily transactions, indicating a potentially brighter future for the Dogecoin rival. Read the full article here.
Massive Crypto Long Liquidations
Major cryptocurrencies took a hit as over $200 million worth of long positions were liquidated over 24 hours on Thursday. Bitcoin longs worth over $65 million were liquidated, while Ethereum ETH longs saw over $27 million liquidated. Read the full article here.
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Trump’s Vow Against CBDCs
Former President Donald Trump made a strong statement against adopting a Central Bank Digital Currency in the United States. He pledged to “protect Americans from government tyranny” and vowed to never allow the creation of a CBDC. Read the full article here.
Dogecoin’s Potential Moonshot
An anonymous crypto analyst predicted an astronomical rise for Dogecoin (CRYPTO: DOGE). The meme cryptocurrency could potentially reach the $5 mark, a staggering 6000% increase from its current value. Read the full article here.
Snowden’s Bitcoin Banter
Edward Snowden, the former NSA contractor, took a playful jab at JP Morgan’s CEO, Jamie Dimon, following the SEC’s approval of a Bitcoin (CRYPTO: BTC) ETF. Snowden’s tongue-in-cheek tweet highlighted the CEO’s changing stance on Bitcoin. Read the full article here.
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