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30 Mln in XRP Circulates Between Binance and Unknown Wallet as Investors Keep Criticizing Regular XRP Dumps

  • Yuri Molchan
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    Whale Alert noticed a substantial amount of XRP sent to Binance on September 6, however, the community says this money has been sent from Binance previously

30 Mln in XRP Circulates Between Binance and Unknown Wallet as Investors Keep Criticizing Regular XRP Dumps
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Whale Alert takes the trouble of tracking and sharing financial transactions on the blockchain from little to tremendous ones.

Recently, U.Today reported about $1 bln in Bitcoin transferred for a fee of $700. The transaction took several minutes which is millions times faster than it would have been done in a fiat currency through a bank.

This time, Whale Alert published info that 30 mln XRP was sent from an unknown wallet to the Binance exchange.

Binance, XRP, there and back again

As the community keeps complaining of regular XRP dumps on the market, one investor proves that this amount was initially purchased on Binance and now it has been only sent back.

While many in the comment thread keep complaining that Ripple is dumping tons of XRP on the market again, a user going by the name @MikeNardolillo has posted some screenshots. 

They show that this 30 mln in XRP was initially bought on Binance, then sent to an unknown wallet and now has been sent back to CZ’s exchange.

Whale Alert was unable to identify the owner of the wallet. However, recently large amounts of XRP have been moved between wallets and exchanges (and the other way round), as U.Today reported previously.

Another XRP transaction, albeit a smaller one, was noticed by @XRPL_Monitor.

10 mln XRP was sent from the Bithumb exchange to an unidentified crypto storage space.

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The unleash-XRP-utility petition

The other day, U.Today wrote about a Ripple fan who initiated a petition to encourage Ripple to keep selling or otherwise using XRP to increase the coin’s utility.

This is contrary to the petition set up earlier on the same change.org website, in which the notorious XRP fan @Crypto_BitLord demands that Ripple stops dumping XRP.

In a series of recent tweets, he even threatened to hardfork XRP in order to put a stop to the dumping. This seemed to be serious enough to catch the eye of Forbes, which made @Crypto_BitLord delighted.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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