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Bitcoin Traders Showing “Heightened Sensitivity” to Inflation: A Hidden Trading Opportunity?

Okoya David
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Bitcoin Traders Showing “Heightened Sensitivity” to Inflation: A Hidden Trading Opportunity?

Bitcoin traders are showing “heightened sensitivity” to inflation news.

This is according to the prominent crypto intelligence platform Santiment Feed.

In a Thursday, February 13 report, the firm disclosed that Consumer Price Index (CPI) discussions across social media platforms were at 15-month highs, showing significant concern, especially among retail Bitcoin traders.

Still, the firm has argued that a trading opportunity for savvy market participants could lie in this heightened sensitivity.

“Sell the Rumor, Buy the News?”

For context, the Santiment Feed report follows Wednesday’s hotter-than-expected U.S. inflation data release. Santiment highlights that shortly before the news broke, Bitcoin dipped 2% to around the $94,000 price point, only to rebound to the $98,000 level moments after the data release.

The platform argued that this could herald a profitable pattern for speculators looking to gain from short-term market volatility, arguing that market participants can expect retail traders to exit on the rumors of high inflation numbers and big players to step in to scoop up coins lower, sending the price higher after the fact.

“… this may be shaping up to be a ‘sell the rumor, buy the news’ scenario,” Santiment asserted.

Stronger-than-expected inflation numbers are currently seen as bad for risk assets like crypto as they reduce the chances of the Federal Reserve carrying out more interest rate cuts, which typically benefit the markets.

The crypto market’s recent weeks-long drought has largely been attributed to the Federal Reserve’s December 2024 decision to halve its rate cut projections for 2025.

With the market yet to decide on a clear direction, Bitcoin is trading around the $96,000 price point at the time of writing.

Bitcoin ETFs Are Eating Away Capital from Altcoin Rotation, Diminishing Altcoin Season

Albert Brown
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Bitcoin ETFs Are Eating Away Capital from Altcoin Rotation, Diminishing Altcoin Season

Bitcoin ETFs, while bullish for BTC, reduce the impact of the altcoin season with minimal capital rotation from BTC investors.

According to crypto analyst Miles Deutscher, the wealth effect that drove Bitcoin holders to reinvest in altcoins has diminished, altering the traditional market flow. Data from Glassnode further highlights a sharp decline in altcoin market capitalization, marking one of the most significant recent downturns.

The ETF Influence

Deutscher noted that historically, Bitcoin’s four-year halving cycle triggered wealth accumulation, leading to capital rotation into altcoins. As Bitcoin profits increased, funds typically flowed into Ethereum, large-cap cryptocurrencies, and smaller altcoins.

Deutscher notes that this cycle is now weakening due to fundamental market changes. In particular, the introduction of Bitcoin ETFs has significantly impacted this rotation.

Previously, Bitcoin holders kept their assets on centralized exchanges, reinvesting gains into other digital assets. Now, institutional investors and retail participants primarily hold Bitcoin through ETFs, which are settled in U.S. dollars rather than altcoins.

As a result, fewer funds remain within the crypto ecosystem, and capital is increasingly going toward traditional financial markets such as the S&P 500.

Institutional Investment Alters Liquidity 

A shift in investor behavior further distinguishes the current cycle from previous ones. Deutscher explains that Bitcoin ETF investors do not act like traditional crypto whales, who historically increased risk exposure after price surges.

Instead, ETF holders lack direct access to altcoins and trade Bitcoin ETFs against fiat currencies rather than transitioning into Ethereum or Solana. This shift impacts market liquidity and weakens the conditions necessary for an altcoin season.

Glassnode data corroborates this trend, noting that the altcoin market cap has fallen by $234 billion in the past two weeks. This represents one of the most substantial absolute drawdowns in recent history.

Although significant, the decline aligns with major sell-offs observed in 2024 and remains less severe than the May 2021 miner migration or the late 2022 LUNA and 3AC collapses.

The Breakdown of Fund Rotation

Another factor limiting capital rotation into altcoins is the increasing dominance of on-chain activity. Deutscher points out that wealth in the crypto space is now primarily engaged in DeFi, staking, and blockchain-based financial mechanisms rather than speculative trading on exchanges. This transition reduces the available liquidity for altcoin speculation.

Meanwhile, Bitcoin has remained more resilient despite the broader market decline. Glassnode reports that Bitcoin investors locked in $520 million in realized losses, a significant amount in this cycle.

However, this remains well below the $1.3 billion in losses recorded during the August 2023 yen-carry unwind. This highlights Bitcoin’s relative stability compared to altcoins.

Here Are Potential Timelines for Dogecoin to Soar 5,200% to $13.66

Lele Jima
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Here Are Potential Timelines for Dogecoin to Soar 5,200% to $13.66

Several entities, such as Changelly and Telegaon, are optimistic about Dogecoin’s potential surge to $13.66, each outlining different timelines regarding when DOGE will hit this target. 

This week, the crypto market witnessed another downturn, causing slight pullbacks across major assets like Dogecoin (DOGE). The token plunged below the $0.25 price mark yesterday after the Federal Reserve announced a 3% inflation rate. 

Dogecoin Shows Resilience Amid Growing Institutional Interest 

However, DOGE showcased resilience by rebounding above the $0.25 level. Many experts attribute Dogecoin’s remarkable performance to long-term investors’ refusal to sell the token due to growing institutional interest in DOGE. 

For context, several asset managers, including Bitwise, are seeking to launch spot Dogecoin ETF in the U.S. According to Bloomberg analysts Eric Balchunas and James Seyffart, Dogecoin has a 75% odds of getting an ETF approved this year. The meme coin surpassed other assets in the analysis, including Solana (70%) and XRP (65%). 

Amid these projections, investors have been fantasizing about how DOGE ETFs could attract more capital into the Dogecoin ecosystem, replicating the success of Bitcoin. 

Dogecoin Surge to $13.66 

Consequently, they speculate that Dogecoin might soar to unprecedented levels, with some setting an ambitious target of $13.66. 

Currently, Dogecoin is trading at $0.2577, boasting a daily volume of $2.05 billion. It ranks as the eighth-biggest cryptocurrency with a valuation of $38.15 billion. 

Therefore, reaching the $13.66 target requires Dogecoin to rise 5,200% from the current price of $0.2577. At this price, Dogecoin’s market cap will skyrocket to $2.02 trillion. This assumes DOGE’s circulating supply remains the same at 148.02 billion tokens. 

Potential Timeline 

With several analysts eyeing Dogecoin’s potential surge to $13.66, we examined when this projection could become a reality for the meme coin, referencing predictions from top entities like Changelly, Telegaon, and ChatGPT. 

Changelly

Notably, experts at cryptocurrency trading platform Changelly forecast that Dogecoin will clinch the $13.66 target by January 2040. The experts believe this will be Dogecoin’s maximum price target by then, setting the asset’s minimum and average targets at $11.38 and $12.04, respectively. 

Telegaon

Interestingly, the famous crypto prediction platform Telegaon believes that Dogecoin will hit this target sooner than Changelly’s projections. According to Telegaon, Dogecoin will soar to a minimum price of $13.63 by 2030, five years from now. In the same year, they expect DOGE to trade at an average price of $15.49 and a peak price of $18.04. 

ChatGPT

Furthermore, the popular AI chatbot ChatGPT also predicted when Dogecoin could surge to $13.66. Referencing widespread suggestions, ChatGPT forecasts that Dogecoin will clinch the $13.66 target between 2029 and 2040. 

The chatbot expects this price to be driven by favorable market dynamics, broader crypto adoption, and other technological advancements. 

Donald Trump Jr. Follows Ripple on X, Is Something Massive Underway for XRP

Lele Jima
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Donald Trump Jr. Follows Ripple on X, Is Something Massive Underway for XRP

Donald Trump Jr., the eldest son of U.S. President Donald Trump, has sparked speculation within the XRP community after he followed Ripple on X.

With over 14 million followers on the social media platform, Trump Jr. currently follows less than 2,150 users. Interestingly, Ripple’s official X channel is one of the 2,148 accounts Trump Jr. follows. 

Donald Trump Jr follows Ripple on X
Donald Trump Jr follows Ripple on X

As expected, the development triggered a wave of speculation within the XRP community, with many users suggesting that ‘something huge’ might be on the horizon. Notably, some users indicated that Ripple and Trump Jr. could be working on a partnership behind the scenes. 

Trump’s Family Involvement with Crypto 

For context, the Trump family is a crypto advocate and has launched several projects, including the World Liberty Financial (WLF) and Official Trump (TRUMP). 

The launch of World Liberty Financial comes a month after Trump Jr. revealed plans to introduce a decentralized finance (DeFi) platform to address certain issues in the traditional banking system, particularly its inequality concerns. 

In the August 2024 AMA session, Trump Jr. suggested it would take long before the project commenced operations. However, the project launched the following month, September 2024. Since its launch, it has acquired millions of dollars worth of cryptocurrencies, including Ethereum (ETH), Ondo (ONDO), and Tron (TRX). 

Similar Ideology 

Meanwhile, Ripple is a leader in the DeFi sector, offering crypto-focused payment solutions to financial companies. Like Trump Jr, Ripple also seeks to address some inefficiencies in the traditional financial space. The San Francisco-based company leverages the XRP Ledger (XRPL) to facilitate cheap and fast cross-border settlements. 

In the meantime, Ripple has been making significant moves to push for regulatory clarity for the crypto industry. As part of this effort, the company’s executives Brad Garlinghouse and Stuart Alderoty met with the U.S. President on several occasions, including at his Inauguration Candlelight Dinner. 

After the meetings, Garlinghouse said he advocated for creating a digital asset reserve featuring multiple cryptocurrencies rather than focusing on a particular coin. 

While Trump Jr. following Ripple could be a casual move, many believe it could be an endorsement or potential partnership. It remains to be seen whether Trump Jr.’s engagement with Ripple on X could lead to a significant update in the future. 

Cardano to $1: Market Expert Suggests ADA to Mirror Pacesetter BNB’s 20% Surge

Elendu Benedict
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Cardano to $1: Market Expert Suggests ADA to Mirror Pacesetter BNB’s 20% Surge

Recent analysis suggests Cardano could post a similar price action as Binance Coin (BNB) if the Binance-affiliated token is front-running the altcoin market.

BNB has emerged as a top gainer in the crypto market over the past few days. While other high-caliber assets looked choppy, the fourth-largest cryptocurrency by market cap has posted substantial price upticks.

For context, BNB recently reclaimed $700 after a 12% 24-hour price uptick. The coin has surged further to trade at $708, extending its weekly gains to 22.2%.

Meanwhile, recent analysis suggests that BNB could be front-running the crypto market. If this proves true, major altcoins, including Cardano, may mirror the asset’s meteoric rise.

Cardano to Mirror BNB’s Over 20% Surge?

Prominent market analyst Ali Martinez recently speculated that BNB may be front-running the altcoin market. He insinuated that the high-ranking altcoin might be leading this cycle’s highly anticipated altcoin season.

Martinez particularly mentioned Cardano as the next asset to mirror pacesetter BNB. In an X post, the seasoned analyst suggested that ADA could imminently replicate Binance Coin’s over 20% surge.

Meanwhile, analysis shows a strange correlation between BNB and Cardano. Both coins have closely mirrored their price action since January but decoupled following the famous February 3 price capitulation.

Cardanos Correlation With BNB
Cardano Correlation With BNB

Although BNB showed more strength following the massive correction with a stronger rebound than ADA, their recent price action indicates that Cardano has started to recoup its correlation with the fourth-largest cryptocurrency by market cap.

Cardano followed BNB’s February 9 higher low price action two days later, prompting Martinez’s speculation that ADA could fully mirror its recent price surge.

Moreover, an accompanying chart shows that the price action would push Cardano to over $1. Notably, a surge to reclaim the psychological level from the current price will culminate in a 27.7% rally, similar to BNB’s 22.2% weekly uptick.

Cardano vs BNB Chart

More Upsides for Cardano?

Meanwhile, the rally past $1 is only one of Martinez’s Cardano bull posts. Recall that the analyst had earlier speculated higher uptrends for the coin, including an over 1,000% surge to $15.

Yesterday, he reiterated his assertion that ADA will trade at $15, citing cyclical performance this time. In the X post, Martinez noted that Cardano has closely followed its 2020-2021 price action but at a slower pace.

Furthermore, he insisted that the phase where Cardano will experience a parabolic rally is impending if it fully mirrors the previous cycle. Meanwhile, an accompanying chart shows that ADA’s target this cycle is $15, a 1,815% uptick from its current price.

Cardano to $15

In the meantime, Cardano is consolidating after a recent breakout. The asset trades at $0.7845, up less than 2% in the past 24 hours.

Binance’s CZ Mulls Memecoin Based on His Dog, Insists It’s Not a Shiba Inu

Okoya David
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Binance’s CZ Mulls Memecoin Based on His Dog, Insists It’s Not a Shiba Inu

Binance founder and former CEO Changpeng “CZ” considers allowing the launch of a memecoin based on his dog, which he says is not a Shiba Inu.

The dominance of memecoins in the current crypto market cycle does not look ready to die out anytime soon.

After a whirlwind weekend marked by a speculative frenzy around tokens like the BNB Chain-based TST token, JAILSTOOL, inspired by Barstool founder David Portnoy, and a Central African Republic memecoin, so-called crypto degens already have their eyes on the next play: former Binance CEO Changpeng “CZ” Zhao‘s dog.

“Name and Photo Ser”

Former Binance CEO Changpeng “CZ” is considering allowing the launch of a memecoin based on his dog.

In what started out as a casual conversation about Bitcoin’s struggles to stay above the $100,000 price point, the Binance founder, responding to a question from a community member, revealed that he had a pet Belgian Malinois, confirming that it is not a Shiba Inu dog.

This revelation prompted another question: “name and photo ser,” which in the crypto trenches can only mean one thing: community members are looking to seize an opportunity to launch their next memecoin gamble.

Despite being fully aware of the implications, Zhao has indicated that he is not fully closed off to the idea.

After seemingly taking some time to learn the rules of the game, he noted that he would think the proposition over and might even interact with some memecoins on the Binance-backed BNB chain while at it—a daring plug, or just part of the learning process?

A quick look at popular DeFi tool DEXScreener, however, suggests that not all community members appear to be willing to wait for the Binance founder. Notably, a memecoin called TORO, claiming to be “CZ’s dog,” ranks 4th on the platform’s trending list.

The coin saw its market cap peak at $4.8 billion before crashing nearly 100% to about $100,000 at the time of writing.

Community launched CZ dog token crashes
Community launched CZ dog token crashes. Source: DEX Screener

Interestingly, just days ago, the Binance founder was trying to distance himself from memecoin speculation after the TST saga.

“I haven’t bought a single meme coin so far,” Zhao told his nearly ten million followers on X, as he argued that he was “not into” memecoins but “not against” them as well.

“I am a builder. I always focus on fundamentals,” he added.

XRP vs. Ethereum: Harvard Engineer Explains Why XRP Will Surpass Ethereum

Abdulkarim Abdulwahab
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XRP vs. Ethereum: Harvard Engineer Explains Why XRP Will Surpass Ethereum

Harvard computer science engineer Austin King, co-founder of the Omni Foundation, made bold predictions regarding the future of Ethereum and XRP.

In a recent interview on the Good Morning Crypto podcast, he suggested that XRP could soon overtake Ethereum in market cap. According to King, “Honestly, Ethereum is not in a good place.” 

He pointed out that, as a long-time developer with experience in both the Ethereum and XRP ecosystems, he does not believe Ethereum can sustain its market dominance moving forward.

Among the factors influencing his bold perspective of XRP flipping Ethereum is the network’s recent struggles. This has led him to question Ethereum’s ability to maintain its position as a leading asset.

Ethereum Struggles with Inflation and Centralization

Specifically, King pointed out that Ethereum had a fantastic opportunity as the first large-scale deflationary network. Not only was its supply finite, like Bitcoin’s, but there was actually less Ethereum every month.

“This was super cool because it was literally a deflationary currency. That’s not the case anymore,” he said.

According to King, Ethereum started externalizing activity to Layer 2 solutions, most of which are run on a single computer. He argued that these Layer 2 solutions are not decentralized networks, which he believes erodes Ethereum’s credibility as a decentralized, deflationary asset. He said:

“Now, my background is in computer science. I studied at Harvard, did a lot of engineering in my first company. My engineering brain does not see a path for Ethereum to become deflationary again.”

Furthermore, King noted that Ethereum’s inflationary shift, combined with a lack of clear development, has left many industry insiders bearish about the asset’s prospects. 

This perception has contributed to Ethereum’s lackluster price action in recent months. While Bitcoin trades in price discovery, Ethereum has yet to surpass its previous peak.

XRP Emerges as a Serious Contender

King pointed out that, based on current market trends, XRP and Solana (SOL) are serious contenders for surpassing Ethereum in market capitalization.

XRP, in particular, has maintained its position as a robust, deflationary asset with a clear use case in tokenized assets and cross-border payments. While XRP’s total supply of 100 billion tokens cannot increase, it bears mentioning that Ripple typically releases a net sum of 200 million XRP from this supply into circulation each month.

Further, King added that XRP’s technological framework uniquely positions it in the race for dominance. He believes XRP, with its more efficient infrastructure, could ultimately replace Ethereum as the market’s second-largest asset.

Currently, XRP stands as the main challenger to Ethereum’s position, having risen by approximately 580% in the last three months. During this time, XRP attempted to set a new all-time high, while Ethereum has largely remained stagnant.

At present, XRP has a market cap of $140 billion, while Ethereum remains far ahead at $322 billion. 

However, should XRP see another 145% price surge from its current position of $2.44, its price would hit $6. This price would be sufficient to overtake Ethereum at its current valuation.

“Just the Beginning,” Binance’s CZ Says, as PancakeSwap 7-Day Volume Crosses $21B Amid Booming Ecosystem

Elendu Benedict
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“Just the Beginning,” Binance’s CZ Says, as PancakeSwap 7-Day Volume Crosses $21B Amid Booming Ecosystem

The Binance Coin (BNB) ecosystem gains momentum, spurring surging activities on the leading decentralized exchange PancakeSwap.

After a long time of suppression—according to former Binance CEO Changpeng Zhao—the BNB Chain is back. Bullish macroeconomic boosts and recent chain upgrades have renewed the ecosystem’s earlier dwindling traction.

Notably, PancakeSwap, the most prominent decentralized exchange in the BNB Chain ecosystem, has been at the forefront of this revitalization. The platform recently recorded the largest trading volume among other DEXs in both the daily and weekly timeframes.

The PancakeSwap Reincarnation

DeBridge, a cross-chain interoperability and bridging protocol, earlier highlighted a growing asset transfer from other chains to the BNB Chain. In a recent post, the protocol highlighted that funds moved extensively from chains like Solana, Base, and Ethereum to the BNB Chain.

Data from DeFiLlama confirmed this growing traction towards the network, especially on PancakeSwap. The DEX now tops the chart on trading volume in the past 24 hours and seven days, outperforming long rivals Uniswap and Raydium.

According to the data, PancakeSwap has a 24-hour trading volume of $3.028 billion, trouncing Ethereum’s Uniswap and Solana’s Raydium, which have volumes of $2.9 billion and $1.58 billion, respectively.

The gap gets wider in the 7-day timeframe, with PancakeSwap surpassing second-place Uniswap by a staggering $4.28 billion. The former has a trading volume of $21.2 billion, and the latter, $16.93 billion.

DEX Trading Volume
DEX Trading Volume

Meanwhile, Zhao stated that BNB Chain just got started. In reaction to an X post showing the stats, he noted that although there is no DEX competition, the network will see heightened traction in the near term.

CAKE Soars 108 in a Week%

Following the renaissance, CAKE, the native token of PancakeSwap, has surged extensively. The utility token is up a staggering 108% in the past seven days, reclaiming levels last seen in December 2024.

In the past 24 hours, CAKE has surged 54%, hitting an intraday high of $3.41 before retracing slightly to its current price of $2.93 at press time.

BNB Chain’s BNB has also seen substantial upticks in what has been an all-rounded ecosystem boost. The high-caliber asset reclaimed fourth place from Solana after hitting a $100 billion market cap.

At press time, BNB trades at $705, up 11.8% and 22% in the past day and week, respectively.

New York Senator Proposes Task Force to Assess Crypto Market Impact

Lele Jima
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New York Senator Proposes Task Force to Assess Crypto Market Impact

A New York State Senator proposes the creation of a 17-member task force to assess the current impact of the cryptocurrency market in the state. 

New York State Senator James Sanders Jr made the proposal yesterday, February 12, following the introduction of a new bill. Dubbed the New York State Cryptocurrency and Blockchain Study Act, the bill seeks to create a task force to examine the impact of crypto in the state. 

Task Force Composition 

According to the bill, the proposed task force will have 17 members. The governor of New York shall appoint seven of them, including officials from academia, financial services, and environmental. 

In addition, the temporary president of the Senate will appoint four members, while the Speaker of the Assembly will appoint another four. The remaining two group members include the Comptroller of New York and the State’s Attorney General. 

Roles of the Task Force 

If created, the task force will examine the regulatory, environmental, and financial impact of New York’s crypto market. The group will also identify the number of tradeable cryptocurrencies and exchanges in the state. 

Furthermore, it will recommend regulatory measures to boost consumer protection and security and tackle the long-term impact of crypto use.  

Per the proposal, the 17 members will be appointed within 90 days from the date of the bill’s enactment. Afterward, the group will report its findings to the legislature and governor before December 15, 2027. 

A bill seeking the creation of a crypto task force in New York
A bill seeking the creation of a crypto task force in New York

Status of the Bill 

Currently, the bill is still under committee review. After the review, it must pass a floor debate and vote in the New York State Assembly and Senate before the governor will sign it into law.   

New York is known for its strict regulation against the crypto industry. In 2015, it introduced the BitLicense program, requiring crypto businesses to obtain a license before operating in the state. 

Even though some companies have successfully obtained this license from the NYDFS, many crypto enthusiasts have criticized the program for its stringent AML and KYC requirements and high fee demands. 

VanEck Expects SBR Bills to Drive $23B Bitcoin Buy 

Meanwhile, the proposal aligns with a similar effort observed in other states in the United States. Currently, over 20 states are considering crypto legislation, including bills relating to the creation of a Strategic Bitcoin Reserve (SBR). 

Yesterday, VanEck’s Head of Digital Asset Research, Matthew Sigel, speculated that if the SBR-related bills are passed in 20 U.S. states, it could lead to the acquisition of $23 billion worth of Bitcoin (BTC). 

Binance Has Sold 24M+ Of Its XRP Amid $8B+ Corporate Holdings Sales: What’s Going On?

Mark Brennan
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Binance Has Sold 24M+ Of Its XRP Amid $8B+ Corporate Holdings Sales: What’s Going On?

Binance Exchange has sold off over 24 million of its corporate XRP holdings this year amid a massive selloff campaign involving multiple crypto assets.

Japanese crypto researcher and founder of MeStar, AB Kuai Dong, first called the public’s attention to this systematic sale from the world’s largest exchange, which has so far triggered mixed reactions from the broader crypto community.

AB Kuai Dong (@_FORAB on X) revealed that since January 2025, Binance has sold off 94.1% of its Bitcoin (BTC) holdings, nearly 100% of its Ethereum (ETH) balance, 99% of its Solana (SOL) holdings and nearly 100% of its USDT balance. The exchange’s BNB holdings only dropped 16.6%. Overall, Binance sold over $8 billion from its corporate crypto bag.

The analyst confirmed that these sales only involved the exchange’s corporate holdings and did not affect user balances on the platform. In fact, generally, user reserves on Binance increased by about $4 billion from January to February 2025.

Binance Sells 24M XRP

The Crypto Basic had a look into the exchange’s Proof of Reserve (PoR) and confirmed that these findings were accurate. Notably, we uncovered that these sales affected nearly all of Binance’s corporate holdings, including XRP, but with different variations of selloffs.

Particularly, as of Jan. 1, 2025, Binance held a total of 2.909 billion XRP, with 2.794 billion tokens belonging to its customers. This indicated that the exchange had about 115 million XRP as excess balance, representing its corporate holdings. The total balance amounted to a reserve ratio of 104.09% to keep user funds safe.

Binance XRP Holdings January 2025
Binance XRP Holdings January 2025

However, the latest PoR report From Feb. 1, 2025, shows that Binance now holds 2.838 billion XRP, and 2.747 billion tokens belong to customers. This translates to an excess balance of around 90.4 million XRP, a reduction of 24.6 million tokens from the 115 million XRP corporate holding in January.

Binance XRP Holdings February 2025
Binance XRP Holdings February 2025

Regardless, Binance’s XRP customer reserve remains intact, with the exchange still maintaining an excess reserve ratio of 103.29%. Binance has continued to assure its customers that user balances remain secure, especially following the FTX implosion, which occurred due to a commingling of customer funds.

Binance Sells Other Assets

Meanwhile, the 24.6 million XRP sale, amounting to $56.58 million, was one of the lowest across the board. Besides XRP, Binance sold 44,149 BTC ($4.2 billion), 216,138 ETH ($583.5 million), 438,056 SOL ($85.4 million), and $2.7 billion in USDT. However, its USDC holdings increased as it converted some of these assets to USDC.

Notably, these tokens represent Binance’s corporate crypto holdings realized from fees and operational revenues. Reactions have trailed its recent distribution campaign, but the exact purpose remains unclear. Its customer support on X noted that the distribution was an adjustment of its treasury accounting process and not an actual sale.

The exchange again assured customers that user funds are “SAFU.” Notably, The Crypto Basic reached out to Binance to properly ascertain the purpose behind the recent moves but has not received a reply as of press time. We will revise this article with any new updates.

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