Significant cryptocurrency exchange
Binance has issued a warning to the cryptocurrency community that major XRP transactions are imminent.
The transactions will take place as part of a purge of collateral-related wallets, according to the announcement.
Along with XRP, Chainlink’s token, LINK, will be transferred to the corresponding wallet.
Because these assets are currently in cold storage, we will be updating the wallet addresses that hold the Broken collateral — you may notice some large transactions between these wallets during this period.
Binance is the largest holder of XRP liquidity, according to CoinMarketCap and Nomics, with more than $100 million in daily trading volume and approximately 150 million XRP in reserves.
As a result, Nomics calculates that the black-and-yellow crypto giant has a 30.74% impact on the XRP price.
Binance is under increased scrutiny.
Binance is currently receiving a lot of attention from all sides as a result of last week’s news.
According to reports, the US Attorney’s Office is considering charging the exchange with money laundering and sanctions violations.
The exchange’s representatives and its head, Changpeng Zhao, repeatedly denied the rumors, but the damage had already been done.
Binance’s native token, BNB, for example, finished the week down 12%, losing more than 22% at one point.
During the same time period, the exchange experienced multibillion-dollar outflows, but to be fair, all customer payments were properly processed.
The exchange-ecosystem is now worth $55 billion.
It has increased by $500 million in the last 24 hours.
