Binance, one of the leading cryptocurrency exchanges, has conducted two transactions involving over 77 million XRP in the past 24 hours, according to prominent crypto data tracker Whale Alert. The first transaction took place at 03:20 (UTC) today, with a Binance user withdrawing 50.75 million XRP, worth $26.2 million, to an untagged address. A few hours later, another user moved 26.26 million XRP, valued at $13.59 million, to an unknown wallet. Overall, Binance-related XRP transactions indexed today by Whale Alert totaled 77.01 million XRP, amounting to approximately $40 million.
Although the recipient addresses were not disclosed by Whale Alert, investigations by The Crypto Basic revealed that they are affiliated with Binance. Data from Bithomp indicates that these addresses were activated by Binance on the same day and time. The first address currently holds a balance of 45.11 million XRP, while the second address holds 43.49 million XRP.
It appears that Binance utilizes the funds in these addresses to fulfill users’ withdrawal requests. Since receiving the 77.01 million XRP, the recipient addresses have transferred thousands of XRP to other centralized crypto exchanges, including Bybit, Bitso, Upbit, Coinbase, and Luno.
In addition to the Binance-related transactions, Whale Alert also recorded a significant XRP movement in the past 24 hours. An unlabeled address transferred 29.6 million XRP to the Bitstamp crypto exchange, leaving the address with a balance of 203.14 XRP.
Meanwhile, XRP has experienced a daily increase of 0.49% in its price over the past 24 hours, reaching $0.52 per token. However, its price has declined by 1.78% in the weekly charts.
Please note that this article is for informational purposes only and should not be considered financial advice. The author’s opinions expressed in this article do not reflect the viewpoint of The Crypto Basic. Readers are advised to conduct their own thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.
