Shiba Inu’s transactional activity surged dramatically, with 50 trillion SHIB tokens transacted in 24 hours. The spike is likely linked to the WazirX hack, leading to significant market movements.
Points
- 50 trillion SHIB tokens transacted in 24 hours.
- Likely linked to the recent WazirX hack.
- Market makers like Wintermute helped stabilize SHIB’s price.
- SHIB’s price managed to absorb the increased liquidity.
- Increased whale activity observed in response to the hack.
Shiba Inu’s transactional activity went through the roof as approximately 50 trillion SHIB tokens were transacted within 24 hours, pushing the network to its limits. This unexpected surge is most likely tied to the recent WazirX exchange hack, which led to the loss of trillions of SHIB tokens.
According to recent updates, WazirX’s assets, including 5.43 trillion SHIB, were swiftly liquidated by the hacker for 26,535 ETH, or roughly $92 million. Market makers such as Wintermute stepped in and bought SHIB from decentralized exchanges （DEX）, depositing it to centralized exchanges to profit from arbitrage. This move contributed to stabilizing SHIB’s price decline, preventing a catastrophic collapse.
Despite the massive sell-off, SHIB managed to absorb the liquidity, thanks to support from market makers and the general market dynamics. The transactional surge also indicates increased whale activity, with large holders moving significant amounts of SHIB in response to the hack.
The successful absorption of selling pressure and the subsequent stabilization of SHIB’s price highlight the resilience of the market. It also underscores the importance of market makers in maintaining liquidity and preventing extreme volatility during such incidents.
解説
- The dramatic increase in SHIB transactions reflects the impact of major security breaches on the crypto market.
- Market makers play a crucial role in stabilizing prices and providing liquidity during high-volatility events.
- The incident underscores the need for robust security measures and rapid response strategies to mitigate the effects of hacks.
- Observing whale activity can provide insights into market movements and potential future trends in cryptocurrency prices.