XRP Enters Top 10 Purchased List Among Binance Whales

At a time when the world banking industry is in crisis, Binance whales are evaluating falling cryptocurrency prices. In the last 24 hours, these 7 altcoins, especially XRP, have been purchased at most.

WhaleStats (@WhaleStatsBSC) tweeted that Ripple (XRP) has entered the top 10 purchased list among the largest Binance Smart Chain (BSC) whales in the last 24 hours.

“UST IN: $XRP @Ripple now on top 10 purchased tokens among 500 biggest #BSC whales in the last 24hrs. We’ve also got $ADA, $FLOKI, $DOGE, $LINK & $LUNA on the list.”

USD Coin (USDC) has lost its dollar on some exchanges amid concerns that reserves backing the second-largest stablecoin by market cap are stuck at the bankrupt Bank of Silicon Valley (SVB). Bitcoin rallied as high as $20,000 as the second-largest stablecoin surged. The cryptocurrency market had lost critical support levels with Silvergate announcing its bankruptcy prior to SVB. Circle, the company that manages the popular stablecoin, has announced that $3.3 billion of its $40 billion USDC reserves remain locked in the SVB. Thus, a large FUD was triggered among key investors about the state of their reserves.

In this environment, on-chain analytics platform Lookonchain found that a whale Lido DAO (LDO) had been partially replaced by Frax Share (FXS) before the crypto market took the plunge. Whale first bought 1.48 million LDO at a price of $2.66 with $3.93 million USDT on Markch5. After that, he decided to trade approximately 431,824 LDOs for 119,931 FXS for approximately $1 million before the price of LDO dropped. Data from CoinMarketCap shows that FXS price is currently trading at $7.13 after a 20.85% price drop on the day. Whale may have seen this drop in price as an excellent buying opportunity to fill his vault with more FXS. In addition, FXS is still down over 33% from last week.