XRP Transfers Worth 1M+ Tokens Dominate Binance and Coinbase Outflows
The transfer of large amounts of XRP (over 1 million tokens) has become the dominant form of outflow on two major exchanges, Binance and Coinbase, according to data from CryptoQuant.
On Binance, transfers above 1 million XRP accounted for 60.8% of daily outflow value on September 30, up from roughly 45% on August 13. This marks a significant increase in the share of large transfers, which last reached this range in late August.
On Coinbase, the share of large transfers was even more pronounced, with transfers above 1 million XRP accounting for 48.7% of daily outflow value on September 30, compared to roughly 37% on August 27.
The trend continued into October, with large holders withdrawing approximately 301 million XRP from Binance, Coinbase, Bybit, and Bitget combined on October 1, and daily transfers above 1 million XRP across exchanges climbing past 320 million XRP the following day.