The experts at Spot On Chain have identified several reasons why Bitcoin could see a positive trend in September. One of the key factors is the historical trend where nearly 43% of negative Augusts have been followed by positive Septembers. This pattern suggests the possibility of a rebound for Bitcoin in the coming month. Additionally, major players in the market, such as the German government, Mt. Gox, and Genesis Trading, have been reducing their Bitcoin sales recently. Long-term holders have also been increasing their supply, indicating strong confidence in the cryptocurrency. The potential for new investments in Bitcoin ETFs and other factors, such as a potential rate cut by the Fed, could further stimulate BTC purchases.
On September 1st, Ripple unlocked one billion XRP tokens from a specific address. The unlocked tokens are valued at over $560 million. Ripple has a history of placing XRP tokens in escrow wallets to make the token supply more predictable. However, the actual number of tokens entering circulation often ends up being lower than the set amount due to various factors. Ripple’s CTO, David Schwartz, explained that XRP tokens in expired escrows remain until someone cancels them. This recent unlocking of one billion XRP tokens has raised questions about the impact on the market and investor sentiment.
The Shiba Inu project has expanded its reach to iOS users by releasing the game Agent Shiboshi on the App Store. Previously available only to Android users, the game has received positive reviews and enthusiasm, prompting the project to make it accessible to iPhone users. In the game, players take on the role of Agent Shiboshi, battling evil Shadowcats in a fantasy violence setting. The game challenges players’ aiming and shooting skills and is compatible with iOS devices running on iOS 13.0 or later.
Overall, the recent crypto news highlights various developments in the cryptocurrency market, including potential positive trends for Bitcoin in September, Ripple unlocking one billion XRP tokens, and the expansion of the Shiba Inu project to iOS users. These events indicate the dynamic nature of the crypto space and the ongoing innovations and initiatives within it. Investors and enthusiasts should closely monitor these developments to stay informed about the latest trends and opportunities in the cryptocurrency market.