XRP made it to top 10 holdings of top 100 Binance whales

According to WhaleStats, among the top 100 BNB Chain whales, XRP has displaced Cardano (ADA) as the most traded asset. It’s interesting to note that this whale class buys a lot of XRP and ADA.

XRP Flips Cardano (ADA) for Most Traded Among Whales, Here’s What Is Going On

However, XRP made it into the top 10 holdings among the top 100 Binance whales, with an average amount owned of $278,203, indicating that this whale category held an average of 708,212 XRP.

These whales have 70 million tokens, or 70,821,235, worth $27.82 million in their portfolio. Santiment noticed a tendency of accumulation for wealthy XRP holders at the end of 2022.

It saw that the 1 million to 10 million XRP tier whale and shark addresses were rapidly collecting, accompanied by network expansion as address activity rose. Given the surge in trading volume for BNB Chain whales that WhaleStats recorded, this trend may have already entered 2023. The recent success in the Ripple case is the source of the present optimism. As previously said, the judge’s ruling is expected after all case motions are briefed.

Blockchain enthusiast and founder of CryptoLaw John Deaton discusses how the judge could only grant Ripple a complete victory in the ongoing SEC dispute. “The judge could absolutely get around Ripple’s sales of XRP because the SEC didn’t go transaction by transaction, applying the Howey test to each transaction”, he wrote. his might imply that the SEC’s ambiguity might turn around to favor Ripple in the long run.

According to Deaton, “The SEC even argues that if a country (outside of U.S. jurisdiction) declares XRP a currency, it will only be because of Ripple’s efforts (even future, yet unknown efforts). In other words, if El Salvador had made XRP legal tender as it did with BTC, the SEC is claiming it would all be due to Ripple’s past, present, and future efforts. It is an extraordinarily all-encompassing theory. But that’s not how securities laws get applied.” He further added, “The way the Judge could give Ripple an outright victory is simply rejecting the SEC’s sweeping claims and say you didn’t prove any specific transaction.”

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