Among today’s crypto news, it has emerged that whale deposits on Binance of Ripple (XRP) have surpassed those of Bitcoin (BTC), reaching a six-month high. On the contrary, Dogecoin (DOGE) seems to be losing ground in the last 24 hours.
Summary
Crypto news: whale deposits of XRP surpass bitcoin while Dogecoin records losses
Twist in the crypto market, with whale deposits of XRP surpassing those of Bitcoin (BTC) on Binance, reaching a six-month high.
According to CryptoQuant, in the last 30 days, more than 2.66 billion XRP tokens have been transferred to the crypto-exchange Binance.
This is the highest amount of XRP deposited by large holders since April 2024, demonstrating a significant increase in whale activity.
In general, the deposits of whales can often signal potential strategy changes, as these operators have significant amounts of assets at their disposal.
In any case, what has emerged is that the bull deposits of XRP on Binance have even surpassed those of BTC.
At the time of writing, BTC hovers around $98,000, despite still being in the same week in which it recorded its ATH – All-Time High at $103,000.
As for Dogecoin (DOGE), the price of the memecoin seems to drop in value from its annual high of over $0.47. At the time of writing, DOGE is worth $0.40.
The price fluctuations for the crypto XRP, Bitcoin, and Dogecoin in the last seven days
Exactly one week ago, Donald Trump publicly appointed the new Chairman of the Securities and Exchange Commission (SEC), Paul Atkins.
The news has triggered an additional crypto rally that has seen the prices of most cryptos rise. Now, however, it seems that the situation is one of price correction, with many cryptos also experiencing declines.
And so, as anticipated, the price of Bitcoin (BTC) rose to its ATH of $103,000, but it also then touched lows of $94,000. As of now, its value remains stable at $98,000.
XRP, on the other hand, is in a phase of downsizing over the last seven days, recording a price dump of -10%. At the time of writing, XRP is worth $2.38. The current price level is still in a pump of +300% compared to thirty days ago.
And then there is Dogecoin, the meme crypto preferred by Elon Musk, which shows a level jump in its chart, starting with Trump’s victory in the 2024 presidential elections, never going down again. DOGE rose from the price of $0.15 on November 5 to $0.39 on November 14. For the past month, DOGE has never fallen below the price of $0.35.
The success of Binance
Speaking instead of crypto-exchanges, Binance confirms itself as the market leader also for 2024.
Binance recorded 40% more inflows compared to the next 10 exchanges and totaled 21.6 billion dollars in deposits, against the 15.9 billion overall of the competitor platforms.
Not only that, Binance has seen its user base grow, reaching a total of 244 million people this year.
