[XRP Whale transfers millions of XRP tokens to Binance]In the past 24 hours, a huge transfer of XRP, the sixth-largest cryptocurrency by market capitalization, took place from an unnamed wallet to Binance, the world’s largest cryptocurrency exchange by trading volume. According to Whale Alert, the transfer involved 25,826,980 XRP, equivalent to $13,562,734.The move sparked widespread speculation in the crypto community that it may be a preparation for profit. XRP saw its third consecutive day of gains on February 9, reaching as high as $0.528, but at the time of writing, XRP has retreated 0.50% to $0.52.While the specific purpose of this whale transfer is unclear, moving the tokens to an exchange could mean they are ready for sale, and the whales could be trying to take advantage of Binance’s high liquidity to sell or trade.On the other hand, on-chain analytics firm Messari released a detailed report on Q4 for XRP Ledger. The report shows that
NFT minting volume on XRP Ledger increased by 491% quarterly, and NFT trading volume increased by 170%. A total of 3.4 million NFTs were minted in the fourth quarter, accounting for more than half of all mints since the introduction of the XLS-20 standard in 2022.The total market capitalization of tokens on XRPL grew 47% quarterly to $169 million, with Sologenic’s SOLO being the largest token by market capitalization. XRP's market capitalization grew 21% quarterly and 97% annually, rising on the back of positive news from Ripple's SEC lawsuit.Trading volume on the XRP Ledger grew 23% quarterly due to registration-related activity in December. Hooks, Xahau, EVM sidechains, DID (XLS-40d) and XLS-38d cross-chain projects all continue to be developed alongside the automated market maker proposal.
