While the decline in Bitcoin (BTC) and altcoins before the FED decision made investors nervous, approximately $12 million worth of crypto money was transferred from two wallets affiliated with FTX and its sister company Alameda Research.
According to PeckShieldAlert's post, the address associated with FTX and Alameda sent 5 vBTC worth $7 million to Wintermute, while it transferred 10 million WXRP worth $5.2 million to Binance.
While the real reason behind these transfers is not fully known, market analysts evaluated that it may be related to refunds to customers.
#PeckShieldAlert #FTX/#Alameda labeled addresses transferred ~$12m worth of cryptos out
~5 $vBTC (worth ~$7m) were transferred to #wintermute, ~10m $WXRP (worth ~$5.2m) were transferred to #Binance pic.twitter.com/rV04yuyQsI— PeckShieldAlert (@PeckShieldAlert) June 11, 2024
While FTX's remaining XRP assets are not fully known, according to reports submitted in September, the bankrupt exchange had more than 225 million XRP in its accounts. If the latest XRP transfer data is accurate, the amount sent to Binance amounts to more than 4.44% of the total XRP held by FTX and Alameda.
The decline in XRP coincided with FTX's transfer of XRP, leading to speculation among investors about possible correlations between the transfer of FTX and the recent decline, while analysts speculate that the decline in XRP is linked to the general decline in the market.
However, analysts warned investors that the FTX transfer could increase downward pressure on the XRP price.
XRP, which has decreased by 2.4% in the last 24 hours, continues to be traded at $ 0.48 at the time of writing.
*This is not investment advice.
