62 million XRP moved from Binance as billions in crypto continue to flow following CFTC strike

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Prominent crypto-tracking platform Whale Alert has reported that over the past 24 hours, nearly 232 million XRP have been transferred. A large portion of this amount of tokens was withdrawn from the Binance exchange to what Whale Alert marked as an unknown address.

This happened in the midst of $2 billion worth of crypto withdrawals from this top exchange. These funds have been removed from Binance after the CFTC brought charges against Binance and its CEO, CZ, personally earlier this week.

Meanwhile, XRP has finally recaptured the $0.5 level, much to the delight of the XRP army.

62 million XRP out of Binance after CFTC attack

Whale Alert detected two transactions made from the Binance exchange. They had 20,752,375 XRP and 41,140,453 XRP, evaluated at $11,139,239 and $21,608,659 respectively.

The difference between these two transfers is approximately eight hours. As reported by U.Today, over the past week, users have been actively withdrawing funds from Binance, and the platform faced withdrawals of more than $2 billion in crypto on the Ethereum chain. Meanwhile, the wallets released by the company contain roughly $63 billion worth of cryptocurrencies.

According to the team of the research company Nansen, which published the report, users started withdrawing money last week. But when the CFTC regulator sued Binance and its manager, CZ, on Monday, withdrawals accelerated.

The CFTC accused Binance of violating US rules related to trading, and CZ in particular was accused of not registering his personal trading activity on Binance with the regulator. On Tuesday, news spread that CZ is directly and indirectly linked to around 300 proprietary accounts used for trading; he also has two individual ones, according to the document filed by the CFTC as part of this lawsuit.

170 million XRP moved by other players

Apart from the transactions made by Binance, Whale Alert detected two more XRP transfers. They had 20,752,375 XRP and a whopping 150,000,000 XRP.

An anonymous whale transferred 20 million XRP from Bittrex to Bitstamp, and the major South Korean exchange Bithumb moved 150 million XRP among its internal wallets.

At the time of writing, XRP has regained the $0.5 level, trading at $0.5697, according to CoinMarketCap. Earlier this week, crypto influencer David Gokhshtein pointed out that this coin was the only cryptocurrency whose price was not affected by the news that the CFTC was suing Binance.

Currently, XRP has reached a peak in social dominance over other digital currencies, according to Santiment.