CryptoQuant, a cryptocurrency analysis platform, has reported a significant increase in the influence of large whales on Binance for $XRP transfers.
According to CryptoQuant data, the seven-day moving average of whale dominance in $XRP outflows from Binance rose to 81% on August 3rd. This was the second highest level the indicator has reached since June 11th, when it was 81.3%.
On the same date, the share of outflows by individual investors on Binance decreased to 18 percent. This rate was equal to the level seen on June 11th.
The data showed that approximately four-fifths of $XRP outflows from Binance originated from whale-sized transfers, while less than one-fifth came from individual investors.
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However, a more balanced distribution was observed across all centralized cryptocurrency exchanges. As of August 3rd, whale dominance in $XRP outflows across all centralized exchanges stood at 72%, while individual investors’ share was measured at 27%.
Thus, whale dominance on Binance was approximately 9 points higher than the overall average for centralized exchanges. Individual investors’ share, on the other hand, remained 9 points lower than the overall market average on Binance.
CryptoQuant also noted a change in the $XRP outflow pattern across centralized exchanges compared to July 2nd. During this period, whale dominance decreased from 79% to 72%, while the share of individual investors increased from 20% to 27%.
This shift indicates that $XRP outflows across the general market are less concentrated among large investors, while signaling a resurgence in whale participation on Binance.
According to CryptoQuant, the divergence between the two datasets reveals an exchange-specific shift in the structure of $XRP transfers. Large investors account for a significantly higher share of Binance withdrawals compared to centralized exchanges in general.
*This is not investment advice.
