The post Binance Sees Exodus of 100,614,759 XRP to Anonymous Wallets appeared on BitcoinEthereumNews.com.

Community tracker Whale Alert spotted substantial volumes of XRP tokens departing Binance to anonymous destinations in the last few hours. The first transaction involved the movement of 50,307,383 XRP from Binance to an XRP wallet with the initials “rarG6FaeYh.” This transaction occurred on May 31, at 23:40 (UTC), precisely 20 minutes before the new month. At the time of the transaction, the XRP assets in motion were worth $26,081,749. 100M XRP Moved Out of Binance Just an hour later, another 50,307,376 XRP, worth over $26.08 million, left Binance for another anonymous wallet. Collectively, Whale Alert documented the transfer of 100,614,759 XRP valued at $52,125,759 from Binance to two anonymous wallets. XRP Moved from Binance Scrutinizing the Anonymous Wallets An examination of blockchain data indicates a possible connection between two unidentified XRP wallets and the prominent crypto exchange. In particular, Binance activated both wallets exactly five months ago.  Moreover, the transaction history for each wallet reveals a pattern of frequent, small-scale transfers to different platforms, with these transactions happening within minutes of each other. 421M XRP Moved in Two days Meanwhile, Binance is not the only prominent trading platform where whale XRP movements are observable. On Thursday, the tracking service Whale Alert observed transfers totaling 58,190,000 XRP from undisclosed wallets to the centralized exchanges Bitstamp and Bitso.  – Advertisement – On the same day, renowned U.S.-based exchange Kraken transferred a staggering 262,575,885 XRP, valued at over $137.2 million, to an unknown wallet in a single transaction. This particular transfer caught the community’s eye, as evidenced by the 150K interactions on the Whale Alert tweet.  Interestingly, these substantial XRP transfers coincided with XRP’s price decline to $0.5136 on the same day. Essentially, over the past two days, as XRP’s value has declined, significant movement of XRP has occurred involving major exchanges, with…

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Filed under: News - @ June 1, 2024 1:20 pm