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$22 Million in XRP Bought on Binance by Enigmatic Whales: Details

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Mon, 29/04/2024 - 14:43
$22 Million in XRP Bought on Binance by Enigmatic Whales: Details
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Prominent blockchain tracker Whale Alert, which tracks down large cryptocurrency transfers, spreads the word about two mysterious crypto whales that have pocketed 44 million XRP between the two of them.

These transactions have taken place while the XRP price demonstrated a marginal decline of slightly less than 4%.

Two anonymous whales withdrew 23,037,429 XRP and 20,980,252 XRP from the Binance exchange. These crypto lumps were evaluated at $11,550,284 and $10,603,607 at the time of these transfers.

Recent XRP withdrawals from Binance

Binance has recently been seeing regular withdrawals of large XRP chunks made by anonymous whales; those transactions are always more or less similar in size to those mentioned above.

Data from the Bithomp cryptocurrency explorer focused on XRP, however, has revealed some further details of these transactions. The data shared by it shows that the anonymous wallets are linked to Binance as well. Therefore, the recent series of multi-million XRP transfers seem to be nothing but internal XRP movements initiated by the world’s largest crypto trading platform.

Related

30.5 million XRP headed for Bitstamp

Whale Alert also reported that a hefty transaction carrying 30,350,000 XRP was made to large digital currency exchange Bitstamp. The transfer was made by an unknown wallet and was worth $15,920,021 in fiat at the time it was made.

According to the aforementioned Bithomp analytics platform, the transaction was initiated by a wallet linked to Ripple Labs behemoth. Bitstamp is among many cryptocurrency exchanges that collaborate with Ripple on its global payments service, which was known as On-Demand Liquidity (ODL) until early fall last year.

Now called Ripple Payments, it runs on RippleNet and leverages XRP for low-cost and fast-acting transactions via the above-mentioned cryptocurrency exchanges.

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