Ripple whale moved 40 million XRP to the Binance exchange. While many investors decide to keep their cryptocurrencies in wallets, this XRP whale has moved large sums of funds to a centralized exchange.
According to on-chain transaction activity, an anonymous wallet ending in “kskkhi” moved 40 million XRP to a wallet owned by the Binance exchange. Currently, the unknown wallet is holding around 13 million XRP. The wallet received 40 million XRP just a day before a major transaction from another unknown wallet holding significantly more XRP.
The second wallet, which initially traded 40 million XRP to the wallet that sold it on Binance, currently holds 156 million XRP. The larger wallet may be linked to another centralized exchange as it constantly receives large numbers of funds, including 40 million XRP.
The realization of coins on the Binance exchange could lead to a rapid withdrawal of XRP, which is moving with a profit of 2.5% today. The current daily XRP volume on Binance is 156 million coins. The amount traded represents about 25% of the current daily trading volume on the exchange.