Advertisement
AD

Main navigation

$140 Million XRP Moved Between Wallets While Someone Purchases 14 Million Coins from Binance

Advertisement
Thu, 11/11/2021 - 10:44
$140 Million XRP Moved Between Wallets While Someone Purchases 14 Million Coins from Binance
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Advertisement

According to Whale Alert tracking service, anonymous wallets are moving large volumes of funds amongst each other in addition to the strong XRP buying activity present on the Binance cryptocurrency exchange.

Large transactions between two wallets

Two hours ago, two anonymous wallets have transferred more than $70 million worth of XRP amongst each other. One minute later, another transaction has occurred on the XRP blockchain. The wallet ending with "KsTqv" once again transferred a little bit more than $70 million worth of XRP.

The total USD equivalent of XRP transferred from the "KsTqv" wallet to the "ijEGb" wallet totaled $147.7 million.

Article image
Source: Whale Alert

According to the largest exchange wallets, no transfers worth $140 million or $70 million have been made recently, which means that the person making large transactions had no intention of selling them unless it was an OTC trade.

Advertisement

Related

OTC trades are usually made with the help of a third party that controls the process in order to keep both parties safe and make sure that funds have been transacted properly. But in this case, the transfer has been made directly from one wallet to another.

Significant buying volume

While some undisclosed wallets transfer large amounts of money between each other, some investors use cryptocurrency exchanges in plain sight to purchase some XRP.

Article image
Source: TradingView

According to Whale Alert, this wallet has purchased $15.7 million worth of XRP from the Binance exchange and almost immediately transferred fresh funds to the private wallet address.

The price of XRP has reacted with 3.5% growth after yesterday's 11.6% retrace from the local top.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD