Bitcoin takes first place thanks to a whale transfer of 127,351 BTC ($2,062,504,721) from Binance to an unknown wallet on November 28, 2022. On the same day, the Ethereum whale transferred approximately 231,782 ETH ($274 million).
Binance reportedly paid $0.42 in transaction fees for moving a large amount of bitcoin as part of an audit process aimed at increasing transparency in the wake of the FTX crash. The platform has assured its users that all their funds are safe.
Changpend Zhao Recognizes 3 Major Binance Transactions
Additionally, on November 30, 2022, the cryptocurrency exchange made at least two more trades worth around 200,000,000 BUSD, its native stablecoin. As such, Binance is responsible for 81% of the roughly $3.2 billion in bulk transfers made in the last week, and these two similar transactions are ranked fifth in this ranking.
Binance CEO Changpeng Zhao (CZ) took to Twitter to allay concerns about unfair practices, stating that a third-party auditor required Binance to hand over a certain amount of cryptocurrency to itself to prove that the company owns the portfolio. The rest was transferred to another address, called “change of address”.
Other cryptocurrencies are closely following Binance’s bitcoin transfer, including Ethereum, the second cryptocurrency in the sector, with nearly $560 million transferred in two transactions: 231,736 ETH ($272 million) and 231,782 ETH ($274 million). The network validators were then rewarded with transaction fees of $1.32 and $2.51.
In both cases, the source and destination addresses remain unknown. The crypto community on Twitter has speculated that Ethereum co-founder Vitalik Buterin may have been involved in the first transaction.
Indeed, earlier this year, he allegedly transferred 3,000 ETH to the Uniswap V3 DeFi protocol shortly after news of the FTX failure broke.
These rumors were fueled by the fact that Mr. Buterin transferred 30,000 ETH from his wallet in self-defense in May 2022, leading to speculation that the price of Ethereum would later fall.
However, later it turned out that the transferred funds were directed to charitable donations.
Keith unlocks XRP from escrow
The transfer of 500,000,000 XRP ($204 million) from an escrow wallet to an unknown address on December 1, 2022 completes this top five. who met.
In 2018, Ripple launched an initiative to issue 1,000,000,000 XRP at the beginning of each month via escrow to create a predictable supply of its own token.
So the transfer of 500,000,000 XRP continued with transfers of 400 million and 100 million coins to unlock 1,000,000,000 XRP for December 2022. In the past, Ripple held 800,000,000 tokens, deciding to lock the remaining 200,000,000 XRP for new issuance.
Summary of Big Five Crypto Whale Transactions
So the top five crypto trades of the week are as follows:
- 5) 200,000,000 BUSD ($200,080,000) was transferred from Binance to an unknown wallet on November 30, 2022, followed by a transfer of the same amount of BUSD from an unknown wallet to Binance.
Transaction fees: $3.31 and $1.27.
- 4) 500,000,000 XRP ($204,402,898) were released from escrow to be sent to an unknown wallet on December 1, 2022.
Transaction fee: unknown
- 3) On November 28, 2022, 231,736 ETH ($271,829,771) was transferred from an unknown wallet to another unknown wallet.
Transaction fee: $1.32
- 2) On November 28, 2022, 231,782 ETH ($274,046,462) was transferred from one unknown wallet to another.
Transaction fee: $2.51
- 1) 127,351 BTC ($2,062,504,721) was transferred from Binance to an unknown wallet, albeit probably a new Binance address, on November 28, 2022.
Transaction fee $0.42.
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