Critical Pi Network (PI) Update, Ripple (XRP) Price Crash, and Altcoins in Danger: Bits Recap May 28

There is no local catalyst for the move, and it follows the broader market very closely. It‘s also worth noting that the trading volume increased considerably during the downturn. It’s up more than 42% over the past 24 hours, at $2.44 billion.

On the other hand, fundamentals associated with the XRP Ledger are seemingly improving, with new proposals aiming to augment the way pools are deployed already underway. The idea is to give more flexibility to pool deployers and developers that would better correspond to the constantly shifting market conditions.

Altcoins Stress Test: US Govt About to Dump？

Last but not least for this recap, Arkham Intelligence flagged an on-chain move associated with holdings of the US Government.

“The US Government just moved $1.9 million of Alameda funds. The USG seized $13 million of Alamedas assets from Binance over 3 years ago. They just moved $1.89M of RNDR, UNI, SAND, MASK, and AXS to Coinbase Prime. Are they about to sell the seized funds？”

The US Government just moved $1.9 Million of Alameda funds.

The USG seized $13M of Alamedas assets from Binance over 3 years ago. They just moved $1.89M of RNDR, UNI, SAND, MASK and AXS to Coinbase Prime.

Its worth noting that the size is not considerable, and most of the mentioned altcoins do have market depth to absorb any potential sales. However, investors might think of any disposals as a show of no confidence, which could lead to subsequent negativity. Time will tell.

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