CRYPT — Large SHIB holders have been showing some concerning behavior recently, as their trading volume has recently seen a huge reduction starting last Friday and continuing through the weekend. Despite the fact that this number jumped 150%, equivalent to 1.5 trillion SHIB earlier in the week, it has since fallen to 865 billion tokens. Another indicator that raises red flags is the steep drop in value of the Shiba Inu coin net flow.
Tokens totaling 272.45 billion were transferred out of the wallets of major investors, compared to 195.98 billion that were sent. This means that outputs now exceed inputs. As a direct result of this, the net flow of money into Shiba Inu whale wallets reached -76.48 billion SHIB on Saturday.
This represents a significant change from the 310.59 billion recorded a few days earlier. Bitcoin evangelist and adviser to the President of El Salvador, Max Keizer, recently took to Twitter to air his thoughts on the thorny issue of cryptocurrency regulation.
In his tweet, he made a passing reference to the question of what would happen to XRP and Ethereum. He said the SEC’s “overrun” would ultimately lead to the “killing” of XRP and all other cryptocurrencies except Bitcoin, which he described as “untouchable”. John Deaton, an attorney who supports cryptocurrencies, took issue with Keizer’s position by pointing out that Bitcoin has been classified as a security in the past.
Deaton also admitted that even if the SEC could cause damage to XRP, the power of its current regulator, Gary Gensler, would not last very long at all. Despite this, Keizer never wavered in his belief that the SEC would persist in its investigation of ETH and XRP on the grounds that they were unregistered securities.