A significant amount of cryptocurrency, totaling around $12 million, was recently transferred from wallets associated with FTX and its sister company, Alameda Research, just before the FED decision, causing some unease among investors.
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, market analysts have suggested that they could be related to customer refunds.
Reports indicate that FTX previously held over 225 million XRP in its accounts, but the current amount of XRP assets held by the exchange is unknown. The recent transfer of XRP to Binance represents more than 4.44% of the total XRP previously held by FTX and Alameda.
The decrease in XRP prices coincided with FTX’s transfer of the cryptocurrency, leading to speculation among investors about a possible connection between the transfer and the market decline. Analysts have cautioned that the FTX transfer could further push down the price of XRP.
XRP is currently trading at $0.48, with a 2.4% decrease in the last 24 hours. It is essential to note that this information is not investment advice. If you wish to invest in over 300 cryptocurrencies, you can sign up for the Binance exchange with a 20% commission discount through this link.
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