A significant amount of cryptocurrency, totaling around $12 million, was recently transferred from wallets associated with FTX and its sister company Alameda Research ahead of the FED decision, causing some anxiety among investors amidst the market downturn.
According to a post by PeckShieldAlert, an address linked to FTX and Alameda sent 5 vBTC valued at $7 million to Wintermute, and also transferred 10 million WXRP worth $5.2 million to Binance. While the exact reason for these transfers remains unclear, analysts speculate that they could be related to customer refunds.
Reports suggest that FTX had over 225 million XRP in its accounts as of September, although the current amount of XRP assets held by the exchange is unknown. The recent transfer of XRP to Binance accounts for more than 4.44% of the total XRP previously held by FTX and Alameda.
The decline in XRP prices coinciding with the transfer from FTX has sparked discussions among investors about potential correlations between the two events. Analysts believe that the overall market downturn may have contributed to the drop in XRP prices, cautioning investors that the FTX transfer could further impact the price of XRP negatively.
XRP is currently trading at $0.48, having decreased by 2.4% in the last 24 hours. As a reminder, this information is not intended as investment advice. For those interested in investing in over 300 cryptocurrencies, Binance is offering a 20% commission discount through this link. Stay updated with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.
