Binance, one of the leading cryptocurrency exchanges, recently conducted two transactions involving over 77 million XRP coins within the past 24 hours. These transactions were highlighted by Whale Alert, a prominent crypto data tracker.
The first transaction took place at 03:20 (UTC), with a Binance user withdrawing 50.75 million XRP, equivalent to $26.2 million, to an untagged address identified as “rhWj9g…FLQkK.” Shortly after, another Binance user transferred 26.26 million XRP, worth $13.59 million, to an unknown wallet labeled as “rarG6F…2bZKk.” In total, Whale Alert recorded 77.01 million XRP transactions from Binance, valued at approximately $40 million.
Although the recipient addresses were not disclosed by Whale Alert, investigations conducted by The Crypto Basic revealed that they were associated with Binance. Data from Bithomp showed that Binance activated these addresses on January 3, 2024, at 14:40 (UTC). Currently, the first address 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, as evidenced by the subsequent transactions. 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 detected a significant movement of XRP in the past 24 hours. An unlabeled address transferred 29.6 million XRP to the Bitstamp crypto exchange, leaving the address with a remaining balance of 203.14 XRP.
Meanwhile, XRP experienced a slight daily surge of 0.49% in the past 24 hours, bringing its price to $0.52 per token. However, its price has declined by 1.78% in the weekly charts.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.
