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84.3 Million XRP Transferred to Binance, While Coin Sits at $0.5

u.today 19 July 2021 09:47, UTC
Reading time: ~2 m

Popular crypto tracking bot Whale Alert has published a tweet with details of a recently made transfer worth 84.3 million XRP.

The transfer was made slightly over three hours ago. It carries an XRP equivalent of $49,238,566.

Meanwhile, XRP, the sixth largest cryptocurrency continues trading in the $0.5 range where it came in the middle of July and has remained there since that time.

84.3 million shifted to Binance

According to the analytics data shared by Whale Alert, approximately three hours ago, a whopping 84,346,655 XRP was transferred to the Binance exchange.

Details show that the transaction was made by Bybit trading platform. Unlike Binance US branch and other major crypto exchanges, Bybit has not suspended XRP trading this year after the SEC initiated a legal suit against Ripple Labs in late December 2020.

🚨 🚨 🚨 🚨 84,346,655 #XRP (49,334,509 USD) transferred from unknown wallet to unknown wallethttps://t.co/KJY0vlLQcF

— Whale Alert (@whale_alert) July 19, 2021

Binance getting in hot water with regulators in various countries

As reported by U.Today previously, the world’s largest crypto exchange spearheaded by Changpeng Zhao (aka CZ) has been getting in crosshairs of financial regulators in various countries.

These include the UK, Malta, Italy, then Hong Kong joined them. The regulators in these countries have stated that Binance Group is not authorized to operate there.

Last week, Binance also announced that it intends to cease the trading of tokenized stocks as it intends to move to other projects. In reality, this case is again related to regulators of Germany and Italy and, according to Chinese cryptocurrency journalist Colin Wu, of Hong Kong.

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