Binance Sees Surge in Large XRP Transfers as Coinbase Stalls

A recent analysis by CryptoQuant analyst Amr Taha has revealed a significant difference in XRP outflows on two of the largest crypto exchanges, Binance and Coinbase. On August 3, transfers worth over 1 million XRP made up 55.3% of Binance's total daily XRP outflow value, while this same transaction group accounted for only 15% of total outflow value on Coinbase.

This represents a 40.3% gap between the two exchanges, with Binance far exceeding Coinbase in large XRP transfers. Taha also noted that mid-sized transfers (between 100,000 and 1 million XRP) made up 55.8% of total outflow value on Coinbase, compared to only 24.5% on Binance.

The data suggests that the largest transfers have become more active again around the same price range, with XRP trading near $1.04. However, the trend on Coinbase looked very different, with a larger role played by mid-sized transfers.