Cryptocurrency experts from Spot On Chain have identified five key reasons why Bitcoin could experience a positive September. One interesting trend they pointed out is that almost 43% of negative Augusts have been followed by positive Septembers, suggesting a potential rebound for Bitcoin. Additionally, major players such as the German government, Mt. Gox, and Genesis Trading have reduced their Bitcoin sales, totaling over 170,000 BTC in July and August. Long-term holders have also shown strength by increasing their supply by 262,000 BTC in August, bringing their total holdings to 14.82 million BTC. There is also optimism for a new wave of investment into Bitcoin ETFs. Furthermore, various factors like a potential rate cut by the Fed, FTX paying back $16 billion in cash, and growing political support for cryptocurrency regulations in the U.S. could stimulate BTC purchases in the near future.
Ripple, a fintech giant, recently unlocked one billion XRP tokens from one of its wallets in three transactions. The total value of the unlocked tokens is estimated at over $560 million. Ripple’s decision to release one billion XRP tokens each month is part of their strategy to make the XRP supply more predictable. However, the actual number of tokens entering circulation often ends up being lower than the set amount due to tokens remaining in expired escrows until someone cancels them. Ripple CTO David Schwartz explained that many escrows are split into multiple ones that expire simultaneously for administrative convenience. The unlocking of a significant amount of XRP tokens could impact the cryptocurrency’s market dynamics.
The Shiba Inu project has been making strides in expanding its reach to iOS users with the introduction of the game Agent Shiboshi on the App Store. Previously available only to Android users, the game has now been made accessible to iPhone users as well. Players take on the role of Agent Shiboshi, a hero fighting against evil Shadowcats in a fantasy violence game that tests their aiming and shooting skills. The positive reception from Android users prompted the project to make the game available to a wider audience on iOS devices running iOS 13.0 or later, including iPhones, iPads, and iPod touch. The expansion to iOS users demonstrates the project’s commitment to enhancing user experience and engagement.
The cryptocurrency market is constantly evolving with new developments and updates. From Bitcoin’s potential for a positive September to Ripple’s unlocking of one billion XRP tokens and Shiba Inu’s expansion to iOS users, these recent news stories reflect the dynamic nature of the crypto industry. Investors and enthusiasts alike should stay informed about these developments to make well-informed decisions in the ever-changing world of cryptocurrency.