Cryptocurrency market today, most altcoin projects, including Bitcoin bata, are trading in the red. Whale movements naturally draw attention during periods of high sales. An anonymous wallet has transferred approximately 296 million XRP worth $110 million to Binance, according to whale watching platform Whale Alert.
An anonymous whale transferred a large amount of XRP to Binance
By monitoring the movements of crypto whales, Whale Alert tracks large transfers between crypto wallets and exchanges. This time, the whale watching platform has detected that a large amount of Ripple (XRP) has been transferred from an anonymous wallet to Binance. According to Whale Alert, an unknown wallet transferred a total of 295,500,011 XRP to Binance today. The anonymous wallet sent the funds in a single transaction. The approximate value of the funds subject to the transaction is $110.6 million.
There was no significant change in altcoin price after the transfer.
cryptocoin.com As you can see from the news, whale movements represent large amounts of transfers. It is likely to have a serious impact on the respective altcoin prices, as it may occur with post-transfer sales. Also, such transactions usually indicate that the XRP holder is transferring the tokens to Binance for sale. On the other hand, there was no significant change in XRP price at press time.
Meanwhile, the amount of XRP in the transaction subject to the transfer is quite low compared to the volume of XRP traded on various exchanges in the last 24 hours. According to data aggregator platform Coingecko, the 24-hour trading volume of XRP is around $1.38 billion. According to experts, therefore, it is unlikely to affect the price of XRP. The altcoin is trading at $0.3767, up 0.69% in the last 24 hours. However, Ripple continues to be negatively impacted by the ongoing litigation process with the SEC. With the effect of this, XRP stands 90% away from its all-time high of $3.84.
Other big XRP moves caught by Whale Alert
Meanwhile, besides the transfer to Binance, Whale Alert has detected other movements. According to the whale watching platform, there have been large movements of XRP between exchanges and crypto wallets in the past 24 hours.
Whale Alert caught a transfer of 30 million XRP ($11.29 million) to Bitstamp, again from an anonymous wallet. In addition, another 31,769,271 XRP was transferred from FTX to an anonymous wallet. Additionally, 44.98 million XRP went from Binance to an unknown wallet earlier today. Also, the 30 million XRP transfer to Bitso from an anonymous wallet has been caught on Whale Alert’s radar.
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