Despite the recent market dip, a large quantity of XRP has been reportedly moved to Binance from a reputable exchange. Whale Alert notified Twitter users that XRP worth more than $16 million was transferred from HitBTC to the world’s largest exchange over the past fifteen hours.
In the data published by the blockchain tracking service, a total amount of 21 million XRP, equating to the sum of $16.7M, was shifted by the Whale trader to an unknown wallet on Binance. Bithomp further confirmed the transaction, adding that the Poloniex exchange opened the wallet used to initiate the transfer.
Whale Transfers Becoming Rampant
On Sunday, a whale transfer involving XRP was also recorded, this time around between Bithumb and Coinone. Reports had it that the whale moved 127M XRP between the two popular South Korean exchanges (from Bithumb to Coinone).
Over the past two days, over 148M XRP have been transferred across four exchanges. According to the Santiment, the massive transfer involving the platforms contributed to the spike in activity in the various XRP addresses.
Traders Cry As Crypto Market Continues to Dip
In the past few weeks, the cryptocurrency market has declined, with significant cryptos like BTC and altcoin suffering massive price plunges. As of this writing, BTC and ETH have fallen nearly 3.4% and 4.1% over the past 24 hours as correction continues.
XRP didn’t make any gain either in the market. Since Monday, the eight most valuable crypto has been on the red, losing its hold on the $0.8 mark, a level it had been since the start of week two in December. The digital asset’s price is still fluctuating in the market, revolving at around $0.79, representing a 5% loss over a day of trading.
SHIB Topples XRP In Popularity Amongst Aussies
Despite the downturn, cryptos continue to grow in adoption amongst Australians. Australians are particularly fond of XRP, SHIB, and ADA, but surprisingly, XRP isn’t the most popular in the country.
Saxo Markets conducted a survey that revealed that the SHIB, aka the Dogecoin killer, is used more than ADA and XRP. The reasons for the increasing popularity weren’t identified, but they could be attributed to the fact that it is associated with Tesla CEO Elon Musk.
The survey’s full results show that Bitcoin is the most popular, followed by Ethereum, BNB, and DOGE. SHIB follows DOGE closely, proving how the joke coins suddenly turn corners in several countries.
The survey also points out which particular age group identifies with the coins more. Millennials, representing 7% of Aussies, recognize SHIB, while only 1% of boomers are aware of the meme coin.
The market correction has presented some opportunities to some traders. Today, the largest Shiba Inu whale added to its $1.2B existing holdings, bringing the total holdings to $3.4B worth of SHIB.