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$XRP Ripple Co-Founder Moves Hundreds of Millions of Dollars Worth of XRP to Exchanges in the Last Week!
Ripple co-founder Chris Larsen has raised concerns in the markets by sending approximately $140 million worth of XRP to exchanges in the last week.
Ripple (XRP) investors have recently turned their attention to the significant selling movements made by co-founder Chris Larsen. According to data shared by blockchain analysis expert ZachXBT, a wallet known to belong to Larsen has transferred a total of 50 million XRP since July 17. Approximately $140 million worth of these XRP were sent to three separate exchange addresses.
ZachXBT's analysis indicates that Larsen's wallet still holds a total of 2.81 billion XRP. With the current XRP price, the value of this amount is around $9 billion. Of the transferred XRP, a portion of 30 million was sent to addresses previously used for transferring funds to exchanges, while 10 million XRP was transferred to a different exchange-related address. The remaining 10 million XRP has begun to be stored in two new wallets that have never been used for transactions before.
Why are XRP sales critical?
The large sales made by Ripple's top executives generally create concern in the market. Particularly, the allegations that CEO Brad Garlinghouse and Larsen sold hundreds of millions of dollars worth of XRP in a previous lawsuit filed by the U.S. Securities and Exchange Commission (SEC) are still fresh in people's minds. These recent selling movements have brought similar concerns back to the forefront.
Recently, after XRP's price approached its historical peak of $3.65, Larsen transferred approximately $30 million worth of XRP to the Coinbase exchange. Following these developments, the XRP price started to decline and is currently trading at around $3.20.
Cryptocurrency Exchange Users Attacked: There is an Explanation!
The cryptocurrency exchange WOO X was the target of a $14 million cyber attack aimed at its users' accounts.
According to the official statement made by the centralized cryptocurrency platform WOO X, unauthorized withdrawal transactions were carried out from 9 user accounts. After the cyber attack, damage estimated at approximately $14 million occurred.
The cryptocurrency security firm Cyvers Alerts, which closely monitored the incident, stated that the attack was carried out through the Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Arbitrum (ARB), and Tron networks. According to initial data, the attackers converted approximately $1 million worth of Tether (USDT) into Ethereum and transferred $7.3 million worth of funds to unknown addresses. Additionally, 5 wrapped BTC on the BNB chain were converted into BNB tokens and sent to different addresses.
The company stated that the attack was quickly detected and brought under control, that withdrawal transactions were temporarily halted as a precaution, and that many unauthorized transactions were blocked. Furthermore, it was noted that the company would cover the losses of the affected users.
14-Year Bitcoin Whale Starts Selling: Billions of Dollars Flooded into Exchanges!
After exactly 14 years, a Bitcoin (BTC) whale has moved, transferring approximately $1.67 billion worth of BTC to exchanges via Galaxy Digital within 12 hours, creating significant selling activity in the market.
Bitcoin (BTC) investors began the day with an unexpected wave of sales from a massive whale. According to on-chain (blockchain) analyses, a large investor who has quietly held BTC in their wallet for a full 14 years started moving their 17,123 BTC to exchanges through Galaxy Digital. It is reported that a large portion of the BTC, with a total value of nearly $2 billion, has been converted into actual sales.
According to data shared by Ai, out of the BTC transfers made in the last 12 hours, 14,273 were deposited into major cryptocurrency exchanges such as Binance, OKX, and Coinbase. When transaction movements and sales volumes within the exchanges were examined, it was confirmed that this giant whale created a serious wave of selling in the market. Notably, over 10,000 BTC were sold on Binance within 4 hours, and it was also noted that Galaxy Digital withdrew USDT from the market after the BTC transfers.
Sales concentrated on Coinbase
Another striking detail of the whale movements is that the selling transactions were particularly concentrated on the Coinbase exchange. According to Ai, a significant portion of the approximately $200 million USDT withdrawn by Galaxy Digital was transferred to hot wallets on Coinbase. This indicates that the whale preferred Coinbase as its main selling platform.
On the other hand, while the selling activity is still ongoing, it was stated that Galaxy Digital currently holds 26,238 BTC. Experts point out that this development could create volatility in the market in the short term and emphasize that investors need to closely monitor large-scale transactions.
MicroStrategy Receives Intense Demand for Bitcoin, Increases Purchase to $2 Billion by Quadrupling!
MicroStrategy, the largest institutional player in the crypto world, has increased its new stock offering for purchasing Bitcoin (BTC) to a whopping $2 billion by quadrupling it.
According to information reported by Bloomberg, MicroStrategy, known for its Bitcoin investments, has significantly raised its preferred stock offering named Stretch due to intense demand, which was recently announced. The initial funding target set at $500 million has been raised to $2 billion following a surge in demand. The company has set the offering price per share at $90, which will provide investors with an annual cumulative dividend yield of 9%.
MicroStrategy plans to use all the revenue generated from this capital increase for new Bitcoin purchases. The company currently holds a total of 607,770 BTC, and the current value of these assets has reached approximately $72.4 billion. This amount also corresponds to about 3% of Bitcoin's total supply.
Target of 900,000 Bitcoin
MicroStrategy's Bitcoin moves are also closely monitored by Wall Street. According to TD Cowen analysts, the company could increase its Bitcoin holdings to approximately 900,000 BTC by 2027 thanks to such strategic financing moves. Analysts state that MicroStrategy's strategy of aggressively increasing its Bitcoin accumulation by raising capital at low interest rates justifies the company's market value being higher than the value of its BTC assets.
The company's ordinary shares are currently trading at around $414, while its total market value is approximately $124 billion.
A Revolutionary First in the USA: Billion-Dollar Sales with Cryptocurrencies!
A leading real estate company in the USA has taken a revolutionary step in the industry by establishing a dedicated unit for real estate sales conducted entirely with cryptocurrencies.
Christie’s International Real Estate, sharing the same brand name as the world-famous auction house Christie’s, has become the first major US real estate company to use cryptocurrencies in luxury property sales. Led by CEO Aaron Kirman of the company’s Southern California branch, this new initiative makes the process much faster and simpler by transacting entirely through cryptocurrencies instead of traditional financial institutions like banks.
According to information reported by The New York Times, Christie’s has now opened luxury homes valued at over 1 billion dollars exclusively to buyers who will pay with cryptocurrencies. This innovative initiative particularly targets individuals who have made substantial investments in the cryptocurrency world.
The recent sale of a property for 65 million dollars in cryptocurrency in Beverly Hills is cited as a source of inspiration for the establishment of this special division. Among the homes offered for sale by Christie’s that can be purchased with cryptocurrency is the Invisible House, located in the Joshua Tree area, which has gained worldwide fame for reflecting desert views with its mirrored walls.
CEO Aaron Kirman stated in a related announcement that he predicts more than a third of home sales in the USA could occur with cryptocurrencies within the next five years. Although the identities of the buyers are kept confidential in the sales processes conducted by a special team of cryptocurrency experts, lawyers, and financial analysts, it is ensured that the funds are legal.
This new era in the real estate sector in the USA is considered a strong indicator that the use of cryptocurrencies in daily life will continue to increase.
The Tokyo Artificial Intelligence Giant Plans to Lead by Acquiring 3,000 Bitcoins by This Date!
Quantum Solutions, an artificial intelligence company listed on the Tokyo Stock Exchange, aims to become Japan's largest publicly traded company holding Bitcoin by purchasing a total of 3,000 Bitcoins (BTC) within the next 12 months.
Increasing financial uncertainty in the world, particularly in Japan, continues to direct companies towards cryptocurrency investments. Recently, Quantum Solutions, which offers artificial intelligence solutions and is listed on the Tokyo Stock Exchange, announced that it will invest in Bitcoin to preserve the value of its assets and protect against potential economic fluctuations.
In its statement, the company cited the global acceptance of Bitcoin as “digital gold,” as well as the ongoing depreciation of the Japanese Yen and rising inflation risks as reasons for its investment. Quantum Solutions plans to implement a long-term protection strategy through BTC investment, diversify its assets, and gain resilience against financial instability.
The Bitcoin race in Japan is heating up.
Quantum Solutions' target of 3,000 BTC will surpass the investments of previously established companies in Japan. Metaplanet, one of the pioneering companies investing in Bitcoin in the country, currently holds 16,352 BTC and is in the lead. Once Quantum Solutions reaches its target, it will surpass companies like ANAP Holdings (with a target of 1,000 BTC) and Mac-House, becoming the second largest company holding Bitcoin in Japan.
In the initial phase, the company will purchase Bitcoin worth approximately 14.8 billion yen (100 million dollars) and will finance this through borrowing. Subsequently, it will continue to make BTC purchases step by step until it reaches the targeted amount, thereby converting a portion of its assets into Bitcoin.