Staggering amount of XRP has been transferred from largest crypto exchange by anonymous holders
According to Whale Alert, the word about a massive lump of 350 million XRP shifted from the Binance exchange. This amount of crypto is worth a whopping $134,818,654. The transaction was made on Nov. 16.
Hundreds of Millions of XRP Moved from Binance, Here’s What Happened Here
Overall, XRP whales have been quite active in the past few days; on Wednesday, approximately half a billion Ripple-affiliated tokens were transacted. This includes the transfer above from Binance. Earlier today, Whale Alert also spotted three transactions, carrying 115 million XRP in lumps of 30 million and 40 million coins.
Data provided by XRP-centered Bithomp stated that Binance conducted the 350 million transfer. Also, Kraken exchange moved 30,000,000 internally and Ripple’s Mexico-based ODL platform Bitso. The latter shifted 40,200,000 XRP between its wallets.
A total of 45,000,000 coins was wired from a Bittrex wallet to a Bitso exchange. This makes a total of 465 million XRP transferred in the past 24 hours, per Whale Alert data.
— Whale Alert (@whale_alert) November 16, 2022
Dogecoin co-founder Billy Markus has recently made yet another comment on the recent collapse of the FTX exchange after its founder Sam Bankman-Fried filed for insolvency. Markus tweeted that should the same happen to Binance exchange or even to Tether stablecoin, this would be a deadly blow to the cryptocurrency market — “If either does, it’s pretty much game over” is how he chose to put this.
so when people say “do your research” they don’t mean go on YouTube and find some person to validate your gambling habits, but actually understand how the space works, where the money comes from, why coins and tokens rise and decline in value, the history of all the crashes, etc.
— Shibetoshi Nakamoto (@BillyM2k) November 16, 2022
He tweeted that the whole crypto market is heavily centralized, which makes it pretty weak. As a reminder, there was a moment when Binance offered a bailout to FTX, and CZ signed a nonbinding letter of intent, leaving himself a chance to withdraw from the deal at any moment. He did so when he realized that the problems of the exchange were beyond Binance’s ability to help.
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