XRP Gains Unexpected Popularity Among BNB Investors

In the Brief:

  • XRP gains 241.5% in turnover among top BNB holders.
  • Asset remains in top 10 most-used smart contracts among BNB holders.
  • XRP among top 10 tokens purchased by largest BNB whales.

3 - 5 minute read

Yesterday, according to data from WhaleStats, XRP was one of the most utilized smart contracts among the top 90 BNB holders. The asset’s turnover among this group of investors increased by 241.5%, obtaining 2% market share. BNB, BUSD, and different BNB Chain-wrapped coins account for a significant amount of this group’s usage.

XRP remains in the top ten most-used smart contracts among BNB holders as of today, accounting for 0.64% of the total. According to WhaleStats, XRP was among the top 10 tokens purchased by the 2,000 largest BNB whales today.

On the Binance Smart Chain, the total supply of XRP is 277 million tokens, with a fully diluted market capitalization of $99.45 million. BscScan reports that there are currently 254,895 addresses holding Binance-Peg XRP.

Wietse Wind, primary developer of XRP Ledger and creator of Xumm Wallet, stirred controversy in a recent social media post by claiming that XRP is a stablecoin because 1 XRP is equal to itself. This statement echoed an earlier article by Binance CEO Changpeng Zhao, in which he stated that 1 BTC is equivalent to 1 BTC, and the same holds true for BNB.

These unanticipated connections between XRP and BNB indicate the increasing investor demand for both products. It will be fascinating to observe how this tendency evolves in the next years.

Disclaimer: The content in this article is provided for informational purposes only and should not be considered as financial or trading advice. We are not financial advisors, and trading carries high risk. Always consult a professional financial advisor before making any investment decisions.

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