Binance Sees Surge in Whale Activity for XRP

CryptoQuant, a cryptocurrency analysis platform, has observed significant changes in whale activity for XRP on Binance. According to data from CryptoQuant, the seven-day moving average of whale dominance in XRP outflows from Binance rose to 81% on August 3rd. This was the second-highest level reached since June 11th, when it was also 81.3%. On the same date, the share of outflows by individual investors on Binance decreased to 18 percent.

The data showed that approximately four-fifths of XRP outflows from Binance originated from whale-sized transfers, while less than one-fifth came from individual investors. However, a more balanced distribution was observed across all centralized cryptocurrency exchanges. As of August 3rd, whale dominance in XRP outflows across all centralized exchanges stood at 72%, while individual investors' share was measured at 27%.

CryptoQuant noted that the divergence between the two datasets reveals an exchange-specific shift in the structure of XRP transfers. Large investors account for a significantly higher share of Binance withdrawals compared to centralized exchanges in general.