As a seasoned crypto investor with over a decade of experience in this wild and unpredictable market, I find myself intrigued by these massive transactions spotted on Binance. With such large sums of Dogecoin (DOGE) and XRP moving around, it’s hard not to get excited.
Based on information from Whale Alert, a well-known service that monitors significant cryptocurrency transfers, it has been observed that two substantial transactions took place on Binance, the globally dominant centralized cryptocurrency exchange by trade volume.
According to Whale Alert, a significant amount of Dogecoin and Ripple (XRP) were withdrawn, with the former exceeding a withdrawal value equivalent to approximately $2 billion in fiat currency, while the latter came very close to that figure.
4.9 billion DOGE leave Binance for unknown destination
About five hours ago, Whale Alert reported a transfer of nearly 5 billion DOGE (approximately the entire supply), which was sent to an undisclosed location. At the time of the transaction, this massive quantity of the original meme cryptocurrency was equivalent to approximately $2.03 billion in real-world currency.
According to the information given earlier, it appears that the transfer of 4.9 billion units was actually made up of numerous smaller transactions, all directed towards an unidentified wallet ending with AguBr5. Currently, this blockchain address contains approximately 5.56 billion Dogecoins, which equates to a value of around $2.22 billion.
⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ A massive amount of Dogecoin (approximately 4.9 billion #DOGE or around 2.03 billion USD) has been moved from Binance to an unidentified wallet.
— Whale Alert (@whale_alert) December 16, 2024
Several analysts were taken aback by the enormous scale of this transaction. A few theories were proposed, including one suggesting it was an internal transfer from Binance; yet, the blockchain evidence does not support this notion. Others were astounded, thinking that a mysterious investor, often referred to as a “whale,” had bought such a massive quantity of DOGE in a single transaction.
At the moment, Dogecoin is changing hands at $0.39.
800,000,000 XRP withdrawn from Binance
Recently, there was another significant transaction involving the Ripple-linked digital currency XRP on Binance. A few hours ago, Whale Alert picked up on a massive 800 million XRP transfer, which moved from a Binance account to an unidentified blockchain destination.
Approximately $2 billion in U.S. dollars was equivalent to the value of that amount of XRP during the recorded transaction. The exchange rate at the moment of the transfer was approximately $1,927,321,529 USD per XRP.
⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ ⚠️ A massive amount of 800 million XRP (approximately $1.9 billion USD) has been moved from Binance to an unidentified wallet.
— Whale Alert (@whale_alert) December 16, 2024
Among the analysts, one expressed his view that the Ripple team and its chairperson, Chris Larsen, might be receiving end-of-year bonuses: “End-of-year bonuses for @chrislarsensf and team!” Overall, their reactions were optimistic and marked by heightened excitement, encouraging the XRP price to climb above its current level.
As I pen down these words, XRP – currently the fourth largest cryptocurrency – is being traded at approximately $2.38, following a minor setback of 1.4% over the previous 24 hours. According to CoinMarketCap’s latest update, the market capitalization of XRP stands at an impressive $136.3 billion.
Read More
- USD PHP PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- ONDO PREDICTION. ONDO cryptocurrency
- First ETF with XRP Exposure Is Possible, Top Expert Says
- ARPA PREDICTION. ARPA cryptocurrency
- ACH PREDICTION. ACH cryptocurrency
- WRX PREDICTION. WRX cryptocurrency
- OM PREDICTION. OM cryptocurrency
2024-12-16 16:46