100 Million XRP Shifted With Binance’s Participation: Possible Reasons
A large amount of XRP has been moved to Binance and then shoved away by anonymous whales, here’s why that could happen
Whale Alert has discovered that an anonymous cryptocurrency user has sent 50 million XRP to Binance in the past two hours. However, almost immediately, the same amount of XRP was sent to another crypto wallet that was tagged as “unknown” by the blockchain tracker.
This is happening as XRP is trading at the $0.5875 level and many in the XRP community are buying more coins during the dip. Therefore, a large number of XRP trades are being noticed between XRP investors and centralized digital exchanges that still support this SEC-battered coin.
Binance Receives 50 Million XRP
Just over two hours ago, a mysterious wallet tagged by Whale Alert as a wallet with an unregistered owner made a transaction that brought 50 million XRP tokens to the world’s largest crypto exchange by trading volume – Binance. The fiat equivalent of the amount transferred in crypto totals $29,300,201.
Whale Alert did not tag the sender’s address by any particular network or user, claiming the sender was unknown. Some in the comment thread assumed that this is a whale sending its XRP to sell on Changpeng Zhao (CZ) platform.
However, a detailed look at the data from the XRP transaction platform Bithomp shows that the transfer took place between two wallets of the Binance exchange.
An outbound XRP transfer of 50 million
At the exact same time as the inbound XRP transaction was made to Binance, 50 million XRP left Binance and were shifted to a wallet that Whale Alert again marked as anonymous.
However, details of the aforementioned XRP data service reveal that the equivalent of $29.3 million XRP has been sent to one of the wallets of the Huobi exchange.
Image via Twitter
Top Korean Exchange Wires 45 Million XRP
Another large XRP trade was spotted more than eight hours ago. A total of 45 million XRP were shifted by the leading crypto exchange in South Korea – the transfer of XRP worth $26,444,760 – was done between the wallets of this centralized exchange.