Dig Deeper, Invest Smarter
A large XRP transfer caught the crypto market’s attention today. According to Whale Alert, a blockchain tracking service, more than 26.6 million XRP (worth about $58 million) was moved to Coinbase from an unknown wallet by a Ripple whale. XRP Defies Expectations as Ripple Whale Transfer Fails to Trigger Sell-Off This type of transfer often
The post Ripple Whale Moves $58M To Coinbase, Selloff Incoming? appeared first on CoinGape.
XRP recently achieved a significant milestone, pushing its market cap to $164.47 billion, making it the third-largest cryptocurrency in the world, surpassing Tether (USDT).
The altcoin has seen a surge in price, with a notable rally driving the price higher. However, as XRP climbs, the potential for profit-taking increases, as observed in the last 24 hours.
XRP’s supply in profit has recently crossed the 95% threshold, a critical level often seen as a signal of market tops. When supply exceeds this level, it usually results in a price reversal.
However, XRP has consistently reached this area over the past year and managed to maintain its price, moving sideways with occasional corrections. This historical behavior suggests that while the current rise could face resistance, it may not necessarily lead to a drastic reversal.
The overall macro momentum for XRP, however, raises concerns. In the last 24 hours alone, over 140 million XRP, valued at more than $387 million, have been sold to exchanges.
This large sell-off signals a lack of conviction among investors, as many appear to be booking profits.
With such a large volume of XRP entering exchanges, the market sentiment may weaken, as investors are securing gains. While this is typical in bull markets, the scale of selling in the last 24 hours could lead to a pullback, negatively impacting the price of XRP in the short term.
XRP price has risen 9% over the past 24 hours, peaking at 16% during intra-day highs. Despite this strong performance, XRP missed hitting the $3.00 mark by inches. This rally has drawn significant attention, but the price faces challenges as it nears key resistance levels.
Trading at $2.78, XRP may struggle to reach $3.00 given the factors discussed above. If the selling pressure intensifies, a drop below $2.65 is likely, with the potential for further declines to $2.35.
This could trigger a broader market correction, wiping out the recent gains and hindering further price growth.
However, if broader market conditions remain bullish and if whales step in to absorb the sold supply, XRP could push toward $3.00. Breaching this key resistance would mark a five-month high and potentially pave the way for further gains.
The ability to break through this level will depend on continued investor confidence and market stability.
The post XRP Overtakes USDT Market Cap, But Price Concerns Remain – Here’s Why appeared first on BeInCrypto.
The trading platform Ox.fun, associated with Three Arrows founder Su Zhu, allegedly increased the supply of OX tokens from approximately 4 billion to nearly 9.8 billion without making an official announcement.
Following the collapse of Three Arrows Capital (3AC), Su Zhu faced imprisonment, further fueling concerns about Ox.fun’s credibility. However, subsequent details offer additional context.
According to posts on X, users accused Ox.fun of discreetly increasing the total supply of OX tokens from around 4 billion to more than 9.8 billion without prior disclosure. Data from Ox.fun’s official dashboard and Etherscan, a reputable blockchain analysis tool, verified this change.
Moreover, according to a December 2024 post from Ox.fun on Twitter, the original OX supply was verified as 4.2 billion.
The supply increase has not yet significantly impacted the price of OX tokens at the time of this writing. However, it has caused the token’s market capitalization to surge from under $5 million to approximately $17 million. In other words, users online said the project quietly inflated its value without any formal announcement.
Many community members argue that increasing the token supply without disclosure indicates opaque behavior. They think it may be a signal for a rug pull.
Users also expressed their frustration over the lack of response initially from the project’s leaders.
“I love how @OXFUNHQ @zhusu continue to be dead silent about doubling the circulating supply of $OX overnight. I sincerely think they were just hoping that simply no one would notice. True regards,” commented an X user.
Ox.fun finally responded to the accusations, stating that the increase had been previously disclosed. The project explained that the increase in supply to 9.8 billion tokens was announced on April 1, 2025, as part of the “Ox Seasons” program. According to Ox.fun, Ox Seasons was announced through all social media platforms.
“Importantly, the tokens are locked in the OX treasury multisig (0x4B214e2a2a9716bfF0C20EbDA912B13c7a184E23) and will only be distributed to users at the end of the Seasons program, exactly as outlined in our docs.” stated Ox.fun
The team emphasized that this move, by disabling the smart contract’s mint function, was intended to ensure transparency and prevent future token minting.
However, the community remains skeptical due to the delayed communication, questioning whether Ox.fun has been as transparent as it claims.
The community’s skepticism persists, given Su Zhu’s reputation in the crypto space has been tarnished since the collapse of Three Arrows Capital (3AC). Additionally, in February 2025, Ox.fun had some issues with JefeDAO. Although the platform later provided explanations, these incidents have raised ongoing concerns about its financial stability.
While the price of OX tokens has not experienced significant fluctuations following this event, smaller trading platforms like Ox.fun are often vulnerable to market sentiment.
The post Su Zhu-Linked Ox.fun Faces Backlash Over Sudden Doubling of OX Token Supply appeared first on BeInCrypto.
Crypto inflows hit $785 million last week, pushing year-to-date (YTD) totals to $7.5 billion. This marks a full recovery from the outflows seen between February and March.
Ethereum stood out amid the positive flows into digital asset investment products. The Pectra upgrade and the network’s leadership changes drove the changing sentiment.
The latest CoinShares report indicates crypto inflows totaling $785 million recorded for the week ending May 17. While it represents a slight drop from the previous week’s $882 million, it marks the fifth week of consecutive positive flows.
These positive crypto inflows come as markets continue to shrug off Trump tariffs. Accordingly, the US topped the positive flows. It beat Germany and Hong Kong with $681 million inflows against $86.3 million and $24.2 million, respectively.
More closely, Bitcoin (BTC) recorded a slight drop relative to last week. CoinShares’ researcher, James Butterfill, ascribes the retraction to US economic indicators.
“Bitcoin attracted $557 million in inflows, a decrease from the prior week, likely due to continued hawkish signals from the US Federal Reserve. Short-bitcoin products saw a fourth consecutive week of inflows, totaling $5.8 million, reflecting investor positioning amid recent price gains,” read an excerpt in the report.
Nevertheless, Ethereum saw the highlight of last week’s crypto inflows. According to the CoinShares report, crypto inflows into Ethereum reached $205 million. This was a notable climb from the previous report’s $1.5 million.
Butterfill attributes the optimism to Ethereum’s Pectra Upgrade and the subsequent ascension of Tomasz Stańczak as the new co-executive Director.
“Ethereum was the standout performer, with US$205m in inflows last week and $575 million YTD, indicating renewed investor optimism following the successful Pectra upgrade and the appointment of new co-executive director Tomasz Stańczak,” Butterfill wrote.
As it happened, Pectra Upgrade hit mainnet on May 7, marking the network’s biggest change since the 2022 Merge upgrade. On the one hand, EIP‑7251 lifts the validator cap to 2,048 ETH. Meanwhile, EIP‑7702 brings smart‑wallet functionality and a major step toward account abstraction.
In the same way, Tomasz Stanczak, recently appointed as co-Executive Director of the Ethereum Foundation (EF), has a deep history in Ethereum’s core development. His focus on statelessness to enhance Ethereum’s scalability and decentralization aims to reduce node storage needs.
However, strong statelessness was deprioritized due to complexity and focus on rollups, though Stanczak’s leadership may shift this focus.
“The Ethereum Foundation is thrilled to welcome Hsiao-Wei Wang and Tomasz Stanczak as co-Executive Directors. This new leadership structure marks an exciting new chapter in the Foundation’s evolution as we continue to support a growing Ethereum ecosystem,” the EF said in March.
As Ethereum and other altcoins recorded positive flows, Solana bucked the trend. It posted up to $0.89 million in crypto outflows. This aligns with a recent trend of declining TVL (total value locked), plunging 64%.
The post Crypto Inflows Surge to $785 Million Amid Ethereum Pectra Upgrade Boost appeared first on BeInCrypto.