There have been some recent unexpected happenings in the cryptocurrency market. The SHIB’s probable golden cross, XRP’s abrupt price spike on Gemini, and Cardano’s successful BTC minting have been roiling the cryptocurrency market recently.
According to available information, SHIB is unexpectedly approaching a golden cross, a technical sign that frequently denotes a positive trend. Traders and cryptocurrency enthusiasts are paying particular attention to this phenomenon, which is explained as when a shorter-term moving average passes above a longer-term moving average.
Also, the XRP saw a startling rise in the Gemini market, briefly reaching a $50 price level, considered a significant increase. This sudden price increase happened soon after XRP was listed on the exchange, which followed a string of enticing posts on numerous social media sites.
As it stands, customers of Gemini can now trade XRP against various currency pairs, including USD, GBP, EUR, and others. On the other hand, an update from anetaBTC’s official X account said that Cardano successfully generated Bitcoin on its main net, a development also announced by the Cardano community.
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The anetaBTC protocol, which encases Bitcoin and integrates it within the Cardano ecosystem, was instrumental in making this accomplishment possible. The precise quantity created was 1.706 cBTC, where cBTC stands for Bitcoin wrapped using the anetaBTC protocol.
KuCoin, Other Cryptocurrency Exchange Teases SHIB, As Its Countdown Begins
KuCoin Cryptocurrency Exchange, in its recent post on the X platform, insinuated the possibility of getting the SHIB listed on the platform. In this post, the handler published a picture that looks like a calendar, with the Shiba Inu dog carefully placed under August 12th.
The post also portrayed a dog icon under August 15-16, aligning with the scheduled date for the Shibarium layer two services. The cryptocurrency community has commented on KuCoin’s latest post, suggesting that KuCoin may list the BONE token in line with the launch of Shibarium.
As of press time, the event scheduled on August 13th and 14th is yet to be announced – which has sparked another suspicion among the SHIB community. While commenting on this, a market analyst, Valeria Blokhina, said there are reasons to believe that the exchange is working on adding the LEASH token to its platform on the empty dates (August 13th and 14th).
Shiba Inu’s “golden cross” pattern started after it added 28% to its price in the last eight days. This trend has been historically traced to be a positive sign that indicates the beginning of a strong positive movement. It was also gathered that the new price mark is backed by a significant increase in the coin’s new trading volume, increasing its market depth and liquidity.