Shibarium Transactions Surge 27%, What’s Next for SHIB Price?

Monicah W

Shibarium Transactions Surge 27%, What's Next for SHIB Price?

Shibarium transactions have surged in the last 24 hours, providing a bullish outlook for the SHIB price. This development comes as crypto analyst Javon Marks predicted a 100% surge for the meme coin, which is still looking to break above the psychological $0.000020 price level.

What’s Next For SHIB Price As Shibarium Transactions Surge

Crypto analyst Javon Marks has predicted that the SHIB price could rally to the $0.00003 range. He stated that Shiba Inu is starting to respond to a large bullish divergence and a full recovery, and a bullish continuation can send the top meme coin back to this range, which would represent a surge of over 100%.

This comes as the Shibarium transactions surged in the last 24 hours, which is bullish for the meme coin. Shibariumscan data shows that the transactions surged from 2.43 million on May 1 to 3.1 million on May 2, representing a surge of just over 27%.

Shiba Inu’s burn rate also provides a bullish outlook for the SHIB price. Shibburn data also shows that the burn rate has surged by over 25,353% in the last 24 hours, with 26.3 million SHIB tokens burned during the period. Token burns are bullish, which could spark a price surge for the meme coin as demand skyrockets.

Onchain Metrics Are Still Bearish For The Meme Coin

IntoTheBlock data shows that other on-chain metrics are still bearish for the SHIB price. The Net Network Growth metric is still bearish, indicating that new users aren’t adopting the meme coin.

The ‘In The Money’ metric is also bearish. With 57% of holders currently out of the money, Shiba Inu is at risk of a sell-off, which could lead to a significant decline for the foremost meme coin.

Meanwhile, the ‘Concentration’ and ‘Large Transactions’ metrics are also bearish for Shiba Inu. This indicates that crypto whales aren’t accumulating SHIB at the moment. Whales play a major role in price rallies, and their lack of accumulation could derail any potential rally.

However, a positive for the SHIB price is the recent highlight of the SHIB pay as a permissionless, on-chain alternative to the traditional financial (TradFi) system.

The post Shibarium Transactions Surge 27%, What’s Next for SHIB Price? appeared first on CoinGape.

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Ancient Dark Web Drug Market Moves Bitcoin Worth $77.5 Million

Arkham Intelligence detected a massive Bitcoin transaction from Nucleus Marketplace, a dark web drug market that has been totally inactive for nine years. Nucleus moved $77.5 million to three wallets, leaving $365 million behind.

So-called “ancient” Bitcoin whales pop up in the space periodically, but an extant darknet vendor is still quite rare. Nucleus’ assets have appreciated in value astronomically, but it will be very difficult to convert this BTC into fiat currency.

Dark Web Bitcoin Whale Wakes Up

If there’s one constant in the crypto space and finance more broadly, it’s that money never sleeps. Earlier today, on-chain analysis firm Arkham Intelligence discovered rapid action from a long-dormant source.

Nucleus Marketplace, a darknet market with zero activity in the last nine years, woke up to move over $77.5 million worth of Bitcoin.

“Nucleus Marketplace was a darknet drug market, and it was believed that the founder had either been apprehended by law enforcement or had exit-scammed when the market went offline in 2016. The BTC held in their wallets has not been moved until today,” Arkham claimed.

This defunct darknet market didn’t immediately move all its Bitcoin, and Nucleus still retains about $365 million in BTC. The price of Bitcoin has shot up astronomically since the company’s heyday; at no point in 2016 did BTC cross the $1,000 price point.

Whoever controls this wallet is acting somewhat conservatively, moving these assets into three separate wallets.

Darknet Bitcoin Moved to Three Wallets
Darknet Bitcoin Moved to Three Wallets. Source: Arkham Intelligence

Although the dark web angle may be particularly eye-catching, Bitcoin moves from decade-old wallets surprisingly often. These ancient whales can come from several backgrounds, like early crypto miners or unlaundered stolen assets.

Darknet market transactions are somewhat less common, although a few remain at large despite major legal crackdowns.

As novel as this darknet wallet may be in 2025, it doesn’t seem too likely to have much of an impact on Bitcoin. At the moment, it’s impossible to tell who is controlling Nucleus’ wallet, be it an original operator, associate, or hacker.

Regardless of who controls the wallet, it would be very difficult for anyone to convert this BTC into fiat without notice. These wallets are constantly monitored, and any suspicious activity could trigger community actions.

The post Ancient Dark Web Drug Market Moves Bitcoin Worth $77.5 Million appeared first on BeInCrypto.

Ripple Offered $5 Billion To Buy USDC Issuer Circle: Bloomberg

Ripple Offered $5 Billion To Buy USDC Issuer Circle: Bloomberg

In a massive development, Ripple allegedly offered to buy USDC issuer Circle, although the deal didn’t fall through as the stablecoin issuer rejected the amount that the crypto firm offered. A potential acquisition would be a huge move for the crypto firm, considering that it already issues the RLUSD stablecoin, which is gaining market share.

Ripple Offered To Buy Circle For $5 Billion

According to a Bloomberg report, Ripple offered to buy Circle for $4 to $5 billion, but the stablecoin issuer rejected the bid because it was too low. The report further revealed that the USDC issuer is more focused on following through with the initial public offering (IPO) it filed earlier this month. Meanwhile, the RLUSD issuer has yet to decide whether to make another offer to Circle.

This development comes just as the Brad Garlinghouse-led company agreed to acquire prime broker Hidden Road for $1.25 billion earlier this month. It is worth mentioning that Ripple already issues the RLUSD stablecoin, which is the 12th largest by market cap. Meanwhile, USDC is the second-largest by market cap.

As such, an acquisition of Circle would undoubtedly have expanded the crypto firm’s dominance in the stablecoin industry. The RLUSD stablecoin recently surpassed the $300 market cap milestone, but is still playing catch-up to other stablecoins.

Interestingly, Circle recently launched its payment services for cross-border transactions. This move puts the firm in competition with Ripple, which already offers payment services centered around cross-border transactions.

Circle has also been making moves to expand its services beyond the US, as the USDC stablecoin issuer secured in-principle approval from Abu Dhabi’s financial regulator to operate a money service business in the region.

Pro-XRP lawyer John Deaton commented on Ripple’s proposal to acquire Circle. In an X post, he questioned if both firms might move to buy or become a bank next. He also questioned how high Brad Garlinghouse will go as part of his vision for the company.

The post Ripple Offered $5 Billion To Buy USDC Issuer Circle: Bloomberg appeared first on CoinGape.

Bitcoin Crash Coming Next Week? James Wynn’s $70M Short Position Says So

Bitcoin Crash Coming Next Week? James Wynn’s $70M Short Position Says So

The post Bitcoin Crash Coming Next Week? James Wynn’s $70M Short Position Says So appeared first on Coinpedia Fintech News

With Bitcoin hovering around $103,500, well-known crypto trader James Wynn has made a bold prediction: the crypto market is about to crash hard.

Wynn, who holds a $70 million short position on Bitcoin, warned on X (formerly Twitter) that rising tensions between Iran and Israel could spark a global crisis — possibly even World War 3 — if the U.S. gets involved.

“If the USA gets involved, that is a declaration of a world war. Markets will nuke,” Wynn wrote.

Crypto on the Edge

The crypto market is already under pressure. In the past 24 hours, more than $481 million worth of trades have been liquidated, according to Coinglass.

  • Bitcoin dropped 2%, now around $103,896.
  • Ethereum (ETH) fell over 4.5%.

Wynn says this weakness is caused by a mix of global tension, low liquidity, and fading investor confidence.

“Lower Before Higher,” Says Wynn

Despite the panic, Wynn remains confident that crypto will bounce back — but only after a major drop.

He believes upcoming Federal Reserve interest rate cuts and money printing will push crypto into a new bull run later this year.

“Crypto will win. But lower, before higher,” he stated.

Still, for now, he’s doubling down on his bearish bet, increasing his $70 million short position.

Investors Divided

Wynn’s decision has sparked major debate. Some see it as a smart hedge during uncertain times, while others think it may miss the mark if the market recovers quickly.

Meanwhile, the Federal Reserve is sending mixed signals — with one official hinting at rate cuts by July, while Fed Chair Jerome Powell advises caution.

A Turning Point for Crypto?

With global tensions rising and crypto already facing massive liquidations, the market could be on the brink of a major move.

Will Wynn’s bold bet pay off — or will it mark the bottom before a massive rebound?

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The post Bitcoin Crash Coming Next Week? James Wynn’s $70M Short Position Says So appeared first on Coinpedia Fintech News
With Bitcoin hovering around $103,500, well-known crypto trader James Wynn has made a bold prediction: the crypto market is about to crash hard. Wynn, who holds a $70 million short position on Bitcoin, warned on X (formerly Twitter) that rising tensions between Iran and Israel could spark a global crisis — possibly even World War …