The post Binance’s Mysterious XRP Transfers Spark Speculation appeared on BitcoinEthereumNews.com.

Binance experiences $44 million XRP withdrawals to anonymous wallets in 24 hours. Analysis suggests Binance’s connection to the recipient wallets. This month, Binance has transferred 287 million XRP to anonymous addresses. Over the past day, Binance, the world’s leading crypto exchange, has seen large-scale withdrawals of XRP, with millions of dollars being transferred to anonymous wallets. The initial wave in this pattern began with a transfer of 25,138,803 XRP from Binance to an undisclosed wallet at 22:20 UTC on June 4. Subsequently, at 01:20 UTC, another 29,228,736 XRP, equivalent to $15.39 million, was sent from Binance to another anonymous wallet. At press time, XRP transfer from Binance involved 30,258,205 XRP sent to an unidentified wallet. Cumulatively, within the last 24 hours, 84,625,744 XRP valued at approximately $44 million have left Binance’s publicly known wallet to anonymous addresses. The transaction monitoring service Whale Alert has closely tracked these movements and reported them in a series of updates on X. Although the identities behind the three recipient wallets remain undisclosed, a scrutiny of the blockchain data suggests a potential link to Binance. Notably, Binance activated these XRP wallets precisely five months ago in January. Furthermore, an analysis of the transaction records for each of these wallets show a consistent pattern of regular, small transfers to various platforms, with these transfers often occurring within minutes of one another. Meanwhile, the recent transfer of 84 million XRP from Binance is the latest in a series of substantial outflows from the exchange that has been ongoing since the start of the month. It is worth mentioning that just the other day, Binance transferred 25 million XRP to an unidentified wallet, following the movement of 77 million XRP the day before. Similarly, on June 1st, the exchange had moved 100.6 million XRP. So far this month,…

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Filed under: News - @ June 6, 2024 2:24 am