The cryptocurrency market has seen significant whale activity involving XRP and DOGE, alongside record achievements for Binance Coin.
Accumulating XRP by Whales
Large Ripple investors have been active in accumulating XRP. According to X user Ali Martinez, they purchased 320 million tokens over the last 72 hours, alongside acquiring 900 million XRP in just 48 hours. The total amount accumulated stands at over $3.8 billion. Such purchases reduce the number of tokens available in the open market, which, combined with constant demand, can push prices upwards.
Whale Movements with DOGE
Whales spent less than $500 million to acquire two billion DOGE over the past week, increasing their holdings to 27.6 billion tokens, representing approximately 18.3% of the meme coin's circulating supply. This caught the crypto community's attention, with speculations regarding a significant event that whales might be privy to. "2B DOGE in 7 days? Either they know something we don’t..." noted one X user.
BNB Hits New Record High
Binance Coin (BNB) achieved a new all-time high price of $866 on August 14, briefly surpassing a market cap of $120 billion, making it larger than brands like Nike and Nintendo. Although BNB's price retraced slightly to around $850, many analysts forecast a return to record territory. X user Crypto Raven anticipates the price could exceed $1,000 in Q4 of this year.
This week in the crypto world illustrates the active movements of major investors, which could indicate significant changes in the market in the near future.
