Cryptocurrency News
Analysis
FTX and Alameda Wallets Witness Million Dollar Bitcoin and XRP Activity!
A significant amount of crypto money, totaling around $12 million, was recently transferred from wallets connected to FTX and its sister company Alameda Research. According to a post by PeckShieldAlert, 5 vBTC worth $7 million was sent to Wintermute from the FTX and Alameda-related address, while 10 million WXRP worth $5.2 million was transferred to Binance.
It is unclear what prompted these transfers, but some market analysts speculate that they could be related to customer refunds.
FTX’s total XRP assets remain undisclosed, but previous reports indicated that the bankrupt exchange held over 225 million XRP. If the latest XRP transfer data is accurate, the amount sent to Binance represents more than 4.44% of the total XRP held by FTX and Alameda.
The XRP decline coincided with FTX’s XRP transfer, sparking investor speculation about potential connections between the two events. Analysts suggest that the XRP drop may be linked to the overall market decline.
Investors are cautioned that the FTX transfer could exert downward pressure on XRP prices, which have decreased by 2.4% in the last 24 hours, currently trading at $0.48.
Please note that this is not investment advice. For trading in over 300 cryptocurrencies, you can sign up with Binance exchange with a 20% COMMISSION DISCOUNT using this link!
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