By securing this XRP, people can mathematically verify the maximum supply of Ripple’s XRP that. Ripple placed 55 billion XRP into a cryptographically-secured escrow account. The majority of Ripples XRP supply is in escrow. However, over the past seven days, the token price has experienced a decline of more than 2%. The XRPL architects gifted 80 billion XRP to Ripple so that the company could build use cases around the digital asset. Interestingly, despite the circumstances, a group of institutional investors have taken long positions in XRP. In recent weeks, the price of XRP has remained stagnant, fluctuating between $0.47 and $0.49, primarily due to the uncertainties surrounding these legal developments. These lawsuits have cast a shadow of uncertainty over the future of XRP. New Loanable Assets and Collateral Assets Available on Flexible Loan & VIP Loan () ( 07-12) Earn Wednesday: New Limited-Time Offers Available Now () ( 07-12) Binance Will Support the Optimism (OP) Network Upgrade. The delisting comes at a time when Binance and Ripple are facing ongoing lawsuits filed by the SEC, accusing both parties of securities law violations. 0.0969 XLM to USDT Price & Chart Binance Spot. Notably, eight of these trading pairs involved cryptocurrencies such as Avalanche (AVAX), Axie Infinity (AXS), Polkadot (DOT), Fantom (FTM), Chainlink (LINK), Sandbox (SAND), and Shiba Inu (SHIB), paired with the Australian dollar (AUD). Their values fluctuate in accordance with the price movements of the underlying cryptocurrency, facilitated by a sophisticated algorithm that adjusts the token’s leverage dynamically in real time.Įarlier this year, Binance eliminated 21 spot trade pairs from the market. These leveraged tokens offer traders the opportunity to magnify their exposure to specific cryptocurrencies like XRP. Read More: XRP Lawyer Considers Amicus Status for Coinbase and Binance Users So… What Are the Implications for XRP? The conversion will be based on the tokens’ net asset value at that particular time. In accordance with the announcement, if users choose to retain their leveraged tokens following the delisting, Binance will convert them into Tether’s USDT stablecoin. Users are advised to redeem their tokens using the wallet feature before the specified date, as these leveraged tokens, enabling users to take long or short positions on $XRP, will no longer be accessible on the platform. Delisting Galore!īinance has officially declared the delisting of its XRPUP and XRPDOWN leveraged tokens, which will take effect on July 25. However, it also notes that the entities behind the transactions could be non-Binance entities, mainly individuals that may want to participate in the Arkham (ARKM) token sale round.ĪRKM has a limited purchase cap of $300,000 per account, meaning individuals could use multiple accounts to bypass the limitation.Let’s explore the potential impact of this decision on the XRP token and the broader cryptocurrency industry as a whole. The platform reports that these transactions were conducted through four Binance deposit addresses. The whale may participate in the Arkham (ARKM) token sale.ĭue to the purchase cap of 300K $ARKM, the whale deposited $BNB to 4 Binance accounts in order to buy more $ARKM. Through their tracking efforts, they discovered that a massive whale deposited about $35 million worth of BNB to Binance.Ī giant whale deposited 141,835 $BNB ($35M) to #Binance 3 hrs ago through 4 Binance deposit addresses. □♂️ /M3MUH2bFRE- CZ □ Binance JSome Interesting On-Chain MovementsĪnalysts at Lookonchain pointed out an interesting movement of funds on July 11, 2023. It is amazing they can know exactly who sold based on just a price chart involving millions of traders.
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