XRP Outflows From Binance Reportedly Approaching August Levels
(4 hours ago) · 1 source · Summarized by CryptoBipto
Reports indicate that large XRP holders, often called whales, have been withdrawing significant amounts of XRP from Binance. The gap between XRP inflows and outflows on the exchange is reportedly nearing levels last seen in August.
WHY IT MATTERS
When people talk about crypto whales, they mean individuals or entities that hold very large amounts of a particular cryptocurrency. Their transactions can be large enough to stand out in exchange data. An exchange like Binance acts somewhat like a marketplace where people go to buy and sell crypto. When tokens flow out of an exchange, it means holders are moving their crypto into private wallets, which is a bit like withdrawing cash from a bank and putting it in a personal safe. This does not necessarily tell us what those holders plan to do next, but it is a data point that market watchers track to understand how large holders are behaving.
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- cryptopotato.com
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