Binance reshuffles 77,019,515 XRP: Details revealed

Binance has carried out two transactions in the past 24 hours that moved more than 77 million XRP. Well-known crypto data tracker Whale Alert documented the transactions in two different posts today. According to data from Whale Alert, more than 77 million XRP were withdrawn from Binance early this morning.

Transaction Details
Data from Whale Alert shows that the funds were withdrawn in two transactions. The first transaction took place at 03:20 (UTC) today. According to Whale Alert, a Binance user withdrew 50,756,791 (50.75 million) XRP to an untagged address “rhWj9g…FLQkK” worth $26.2 million.

A few hours later, another Binance user transferred 26,262,724 (two hundred and sixty-six thousand) XRP, worth $13.59 million, to an unknown wallet “rarG6F…2bZKk”. This brings the total number of Binance-related XRP transactions indexed by Whale Alert today to 77,019,515 (77.01 million) XRP, worth approximately $40 million.

Binance Internal Transfer
While Whale Alert’s data does not reveal the identities of the receiving addresses, an investigation by The Crypto Basic shows that these addresses are associated with Binance. Data from Bithomp shows that Binance enabled these receiving addresses simultaneously at 14:40 (UTC) on January 3, 2024. Further investigation of these accounts revealed that the first address, “rhWj9g…FLQkK,” holds 45.11 million XRP at press time, while the second receiving wallet, “rarG6F…2bZKk,” holds 43.49 million XRP at press time.

Apparently, Binance used funds from these two addresses to fulfill users’ withdrawal requests, as reflected in the transactions recorded to date. Since receiving 77.01 million XRP, the receiving address has transferred thousands of XRP to other centralized crypto exchanges, including Bybit, Bitso, Upbit, Coinbase, and Luno.

Unknown user deposits 29.6 million XRP into Bitstamp
In addition to the Binance-related transactions, Whale Alert also recorded another large XRP transfer that took place in the past 24 hours. In this transaction, an unmarked address transferred 29.6 million XRP to the Bitstamp crypto exchange, leaving the address with a balance of 203.14 XRP.

Meanwhile, XRP has grown by 0.49% in the past 24 hours, bringing its price to $0.52 per token. However, XRP’s price dropped by 1.78% in the weekly chart.

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