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Cardano ‘Reigns as the Most Developed Asset in Crypto’

CryptoGlobe Weekly Summary
CryptoGlobe Weekly Summary
Cryptocurrency prices moved up slightly over the last few days, with Ethereum ($ETH) keeping its dominant performance and the flagship cryptocurrency Bitcoin ($BTC) moving up nearly 2% over the last few days.
Bitcoin’s performance was mild while other risk assets kept growing, presumably over dovish expectations from central banks. The stock market’s benchmark index, the S&P 500, moved up 3.11% over the past week while gold moved up 1.74%.
In June, all but one digital asset investment product recorded losses, with the only one seeing its assets under management rise being the 21Shares Short Bitcoin ETP, which benefits from dropping crypto prices.
In July, the trend reversed, with all products covered in CryptoCompare’s Digital Asset Management Review reporting positive 30-day returns. Ethereum-based products led the bounce-back, driven by price movements in ETH.

Cardano ($ADA) ‘Reigns As the Most Developed Asset in Crypto’
Cryptocurrency analytics firm Santiment has said that Cardano ($ADA) continues to be the king of blockchains when it comes to the frequency of meaningful GitHub activity.
Per the firm, Cardano “continues to see the most frequent notable GitHub activity,” followed closely by Flow ($FLOW), Polkadot ($DOT), Kusama ($KSM), and Ethereum ($ETH):
Santiment
🧑‍💻 #Cardano reigns as the most developed asset in #crypto, according to our analysis of code pushes, issue interactions, and more. Routine updates from teams are excluded to ensure only relevant development is included. More here: https://t.co/vWQCE4r4pv

https://t.co/5f6GNDp8dM https://t.co/uDVb7pMs23
Santiment’s developer actiivty metric tracks “the number of GitHub events that the project organization generated.” It tracks development events instead of jut commits as its methodology “successfully avoids” specific pitfalls, which for example include projects forking others to “inherit” their commits and contributions.
Crypto Community Sees Cardano’s Price Jump 56% by End of August
The cryptocurrency community is predicting that the price of Cardano’s native token $ADA is going to surge by over 56% to end the month of August up $0.264 from its current price, meaning it will be trading at $0.73 if the prediction is correct.
According to the cryptocurrency community, which estimated ADA’s price by August 31 via CoinMarketCap’s ‘Price Estimate’ feature, the cryptocurrency is expected to move up significantly next month, presumably partly because of the Vasil hard fork.
 The Vasil hard fork is a major upgrade that will involve four Cardano Improvement Proposals (CIPs). It was expected to be implemented in late June, but was delayed because of Terra’s collapse, as the team behind it wanted to exercise caution before shipping out the upgrade.
It’s worth noting that the community price estimate is based on the votes of the cryptocurrency community, and in no way guarantees any type of price movement. Instead, It reflects the community’s expectations.
an artificial intelligence-based price prediction model suggested that the price of Cardano’s native token would surge to $2.9 by September, but it has since lowered its prediction to $2.63.
Ethereum Whales Bet on Shiba Inu After Buying 500 Billion $SHIB
The largest whales on the Ethereum ($ETH) network have been betting on the meme-inspired cryptocurrency Shiba Inu ($SHIB) as over 24-hour period large transactions have been made to acquire over 500 billion SHIB tokens amid an ongoing accumulation.
The Ethereum whales’ accumulation over the 24 hours was largely led by a whale known as “Gimli” on the platform, which made two significant transactions purchasing a total of 386 billion SHIB for little over $4 million.
In one transaction, Gimli picked up 199 billion SHIB for $2.07 million, while the whale added 187 billion tokens for $1.99 million in a second transaction.
WhaleStats (free data on crypto whales)
🐋 ETH whale "Gimli" just bought 199,999,999,999 $shib ($2,075,999 USD).

Ranked #246 on WhaleStats: https://t.co/3bvrsUeq69

Transaction: https://t.co/wxkX18c60b

#SHIB #ShibArmy
After Gimli’s transactions, another Ethereum whale known as BlueWhale0159 picked up 147 billion SHIB for $1.55 million, bringing the total accumulation above 530 billion SHIB in one single day.
Daily Active Dogecoin Addresses Surged 265% in Two Months
Dogecoin’s price has dropped around 15% over the last two months amid a wider cryptocurrency market downturn that has been exacerbated by a wave of contagion events. Active addresses on the Dogecoin network, however, surged 265%.
According to data from blockchain analytics firm IntoTheBlock shared by cryptocurrency analyst Ali Martinez, the number of daily active addresses on the $DOGE network jumped from around 14,470 to over 38,430 in two months.
Ali Martinez
#Dogecoin price dropped ~15% in the last 2 months, from $0.082 to $0.068. Meanwhile, the # of new daily $DOGE addresses surged by 265%, from 14.47K to 38.43K new addresses per day.

The increasing network growth is a positive sign, which could soon be reflected in #DOGE price. https://t.co/8gwceJVARw
Per the analyst, increasing network growth is a “positive sign, which could soon be reflected in DOGE price.” While the meme-inspired cryptocurrency’s price remains relatively muted, its adoption has been growing steadily.
Wnat Else is Going On?
Cryptocurrency investor sentiment is remaining low as its Fear & Greed index, which serves as an aggregate for investor confidence and attitude towards the market, rose from 30 last week to 33, maintaining a state of “fear.” The index has risen from 6 when BTC dropped below $18,000.
The index, it’s worth noting, is based on emotional behavior in the market. When fear sets in, some investors may see a buying opportunity, while greed may be a sign the market is due for a correction.
Total value locked in the decentralized finance (DeFi) space has meanwhile risen to $89.49 billion, according to data from DeFiLlama. MakerDAO, the entity behind the DAI stablecoin, makes up 9.49 % of the TVL with little over $8.49 billion on its protocol.
Other Top Stories
Banking Giant Santander Reportedly Preparing To Launch Crypto Trading Services in Brazil | Cryptoglobe
$ETH: Real Vision CEO Predicts ‘Massive Supply Shock’ for Ethereum After The Merge | Cryptoglobe
Major Brands Such as Budweiser Are Increasingly Turning to NFT Technology | Cryptoglobe
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CryptoGlobe Weekly Summary
CryptoGlobe Weekly Summary @CryptoGlobeInfo

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