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10 months ago
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The post XRP Whales in Action: Small Wallets Hit All-Time High in Decade-Long Journey appeared first on Coinpedia Fintech News
XRP Ledger, the blockchain behind the cryptocurrency XRP, has witnessed a remarkable surge in small XRP wallets, marking a significant milestone in its decade-long history. Additionally, recent activity among XRP whales has caught the attention of market observers, as hundreds of millions of XRP have been transferred to centralized cryptocurrency exchanges.
According to a recent report from on-chain data aggregator Santiment, the XRP Ledger now hosts a staggering 5.02 million wallets holding more than zero XRP coins. This surge marks the highest number of whale addresses recorded in the 10-year history of XRP’s public trading.
#XRPLedger now has 5.02M distinct wallets that hold more than 0 $XRP coins, the most in its now 10+ years of public trading years. The #6 asset in #crypto by market cap has more than doubled such wallets in 3 years (+104%) as the network expands. https://t.co/YZBcHsOuSS pic.twitter.com/o0m6PKE0Re
The exponential growth is evident when compared to figures from just three years ago, with the total count of wallets holding more than zero XRP standing at a mere 1.5 million on January 31.
Gemini Exchange Adds XRP Perpetual Contract
In a significant move earlier this week, Gemini, the crypto exchange founded by the Winklevoss twins, announced the listing of a perpetual XRP/GUSD contract. The announcement follows days of cryptic teasers on the exchange’s Twitter account, hinting at the impending addition of an XRP-related product.
Perpetual contracts, a popular type of derivative, enable traders to speculate on the price of an underlying cryptocurrency without a set expiry date. Alongside XRP/GUSD, Gemini offers perpetual contracts for BTC/GUSD, ETH/GUSD, and PEPE/GUSD pairs.
Bearish Predictions on XRP
In a contrasting narrative, prominent Bitcoin advocate Max Keiser has made bearish predictions regarding XRP’s future, referring to it as “centralized garbage.” Keiser predicted that XRP could plummet to $0.01, expressing similar sentiments about other altcoins like SOL.
His comments reflect ongoing debates surrounding the long-term viability and decentralization of XRP in the broader cryptocurrency landscape.
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