Recently, big Dogecoin (DOGE) investors, known as whales, have been selling over $30 million worth of Dogecoin for several days. Many are curious why these large investors are cashing out and what they plan to do with the money.
Some experts believe they might move their funds to platforms like DTX Exchange. In this article, we will discuss why Dogecoin whales are selling and whether DTX Exchange is part of their strategy.
Dogecoin shows significant growth as it draws more people
Lately, Dogecoin (DOGE) has been getting a lot of attention because signs are showing it might become more valuable soon. On Tuesday, October 1, a top crypto expert, Ali, shared some exciting news about Dogecoin. He said that the number of new Dogecoin addresses has grown by 72% over the past week. On Monday alone, 19,630 new addresses were made. It means more people are starting to use and invest in Dogecoin.
Many believe this growing interest in Dogecoin (DOGE) is because people feel good about the whole crypto market right now. Some experts say October could be a great month for cryptos, calling it “Uptober.”
Between September 7 and 28, Dogecoin’s price increased by almost 50%. Whenever Dogecoin’s price goes up, more people show interest, which makes them create more wallets.
However, the price went down by about 20% after that. Experts still think this is just because some big investors took their profits. Even though the price dropped a little, there’s still a lot of activity from big investors, which means Dogecoin could still have a bright future.
Ripple releases 1 billion XRP tokens
Ripple (XRP), a San Francisco-based company, just released 1 billion XRP tokens worth about $621.78 million. They did this in three steps today. Ripple has a system that releases 1 billion tokens at the beginning of every month to control the supply of XRP.
The first release, 500 million XRP worth $310.64 million, occurred at 02:53 UTC. Six minutes later, 400 million Ripple (XRP), worth $248.88 million, was released. The final release, 100 million tokens valued at $62.24 million, occurred at 03:00 UTC. An account called OffEscrowerOfDai manages these releases, which Ripple uses for its monthly releases.
Ripple usually locks up 80% of the released tokens, meaning 800 million Ripple (XRP) will return to escrow. The other 200 million XRP is for things like payments and partnerships. It is the same as what they did last month.
Ripple (XRP) recently had to pay a $125 million fine to the SEC for breaking some rules, and people think they might sell some of the released XRP to help pay for it.
XRP’s price dropped by 4.26% in the last 24 hours, making it worth $0.6203. Even though it went down today, XRP is still up by 5.26% this week and 11.09% over the past month. The price changes are due to the overall market, not Ripple’s token release. Everyone’s watching to see what Ripple does next.
DTX exchange: A new way to trade crypto and More
DTX Exchange is a new trading platform that’s been doing really well in the cryptocurrency world this year. It’s the first platform that lets people trade stocks, bonds, cryptocurrency, ETFs, and forex (money from other countries) all in one place. It is made possible by VulcanX, a special blockchain that can handle 100,000 transactions per second, built just for DeFi (decentralized finance) apps.
DTX Exchange has its own wallet, apps, and trading exchange. Right now, people can buy DTX tokens for $0.06 each during a presale. If you own many of these tokens, you can earn a portion of the exchange’s trading fees through their Rebate Program.
DTX Exchange has raised over $3.49 million in just a few months, showing how much people want to use it. Plus, people who join the presale could win $1 million, which has made even more people excited about DTX!
