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Anndy Lian | Inter-Governmental Blockchain Adviser | Book Author | Investor | Board Member | Singapore
CZ: “Binance Did Not Support Bybit… It Was a Whale Transfer”

The large transfer of Ethereum from Binance to Bybit was revealed to be a personal transaction by a specific whale, not official support from Binance.

Binance founder CZ explained that he cannot take credit for the transfer as it was not official support from Binance.

Despite recent hacking damages, Bybit announced that customer assets are safe and they have processed over 99% of withdrawal requests.

It has been revealed that the large transfer of Ethereum (ETH) from Binance to Bybit was not an official support from Binance but rather a personal transaction by a specific whale investor.

On the 21st (local time), blockchain expert Andy Lian stated through his X, “Binance has stepped up to support liquidity stability for its competitor Bybit,” noting that “this contrasts with typical industry competition.” He mentioned Binance founder CZ, saying “protecting consumers comes first, and the community is the top priority.”

However, Binance founder CZ directly commented on this, explaining “The transfer appears to be from users,” and “It’s likely that a specific whale provided a loan to Bybit.” He added, “We cannot take credit for this as it’s not official support from Binance.”

Previously, when a large amount of Ethereum was transferred from Binance to Bybit, industry speculation suggested that Binance had stepped in to support liquidity for Bybit, which recently suffered massive hacking damages. However, through the founder CZ’s explanation, it was confirmed that this was simply a large-scale personal transaction.

Meanwhile, Bybit recently suffered damages from a hacking attack that resulted in the theft of approximately 401,347 Ethereum. Bybit CEO Ben Zhou stated, “Customer assets are safely stored, and we have processed over 99% of withdrawal requests,” confirming that there are no issues with the exchange’s ability to pay.

 

Source: https://bloomingbit.io/en/feed/news/83728

The post CZ: “Binance Did Not Support Bybit… It Was a Whale Transfer” appeared first on Anndy Lian | Inter-Governmental Blockchain Adviser | Book Author | Investor | Board Member | Singapore by Anndy Lian.

Analyst Edoardo Farina emphasizes that early exposure matters; owning just 2,505 XRP tokens places an investor among the top 10% of holders.

Out of 6.19 million XRP wallets, only 619,661 hold 2,505 or more tokens, while over 5 million wallets hold 500 XRP or fewer.

Farina argues that strategic accumulation is key, as a future price of $1,000 per coin could turn a 2,505 XRP holding into a multimillion-dollar portfolio.

XRP’s recent weakness is concerning to some, but prominent XRP commentator Edoardo Farina believes that current holders should not be overly worried. Instead, he emphasizes the importance of being early in exposure to the asset during market downturns.

The Significance of Early Exposure in XRP

Farina highlights that owning just 2,505 XRP tokens is enough to rank among the top 10% of addresses holding XRP. Out of a total of 6.19 million XRP wallets, only 619,661 hold 2,505 tokens or more, while more than 5 million wallets hold 500 or fewer XRP.

Today, you need only 2,505 $XRP to be among the top 10% wallets. Most people have no clue how early we still are. pic.twitter.com/8nnnlYpdcg

— EDO FARINA 🅧 XRP (@edward_farina) February 24, 2025

This disparity suggests that the majority of XRP enthusiasts hold relatively small positions. Farina stresses that early participation in XRP is crucial; even a modest holding today could become extremely valuable if XRP’s unit price were to reach thousands of dollars in the future.

According to Farina, if XRP were to reach $1,000 per coin, a wallet holding 2,505 XRP would be valued at $2.505 million, effectively turning its holder into a millionaire. However, he notes that acquiring such a position has become much more expensive over time.

In November 2024, entering the top 10% required a financial commitment of just $1,252.50 when XRP was priced at $0.50—an amount that has more than tripled since then. Farina’s analysis serves as a reminder that investors need to take strategic steps now to consolidate their holdings, or risk being priced out of the potential wealth that XRP may generate in the future.

The topic of XRP’s future wealth potential and the importance of early exposure has sparked varied reactions within the community. While many supporters view the potential for XRP to reach a high unit price as a compelling reason to accumulate more tokens, some longtime holders remain cautious.

$BTC
{spot}(BTCUSDT)

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🚀 Bitcoin on the Verge of a Breakout? Let's Break It Down! 📈
Hey Binance Square Fam! 👋 Are you ready for some exciting technical analysis on Bitcoin (BTC)? Today, we're diving deep into the charts to explore a potential breakout scenario that could lead to significant gains! 💰
The Big Picture: Consolidation and Potential 📊
Looking at the chart, we can see that Bitcoin has been consolidating within a channel, creating a period of sideways movement. This consolidation often precedes a significant price move, and we believe a breakout is imminent! 🚀
Key Technical Insights 🧐
* Trend Line: The chart shows a clear trend line, indicating the overall bullish momentum. 📈
* Channel Pattern: Bitcoin is trading within a descending channel, which typically leads to a bullish breakout. 🔄
* Key Levels: We've identified crucial support and resistance levels:
* Sellers Breakout Price: $93,306.19 🎯
* Pullback Support: $72,512.52 🛡️
* Timeframe: We're analyzing the 4-hour chart, making this analysis suitable for swing traders and investors looking for medium-term opportunities. ⏳
Potential Breakout Scenario 💥
The chart suggests that Bitcoin is poised for a bullish breakout. If the price breaks above the sellers' breakout price of $93,306.19, we could see a strong upward move! 🚀
Trading Strategy: Capitalizing on the Move 💡
* Swing Trading: This analysis is ideal for swing traders who aim to capture gains from medium-term price movements. 💼
* Investors: Long-term investors can also benefit from this analysis by identifying potential entry points for accumulation. 🏦
* Key Levels to Watch: Keep a close eye on the sellers' breakout price and the pullback support level. These levels will be crucial in determining the next move. 👀
Friendly Tips and Reminders 🤝
* DYOR (Do Your Own Research): Always conduct thorough research before making any investment decisions. Technical analysis is a tool, not a guarantee! 📚
* Risk Management: Manage your risk wisely. Use stop-loss orders to protect your capital. Never invest more than you can afford to lose. 🛡️
* Stay Updated: Keep an eye on market news and developments. The crypto market is dynamic, and staying informed is crucial! 📰
Let's Engage! 🗣️
* What do you think? Is Bitcoin ready for a breakout, or do you see a different scenario? Share your thoughts in the comments below! 👇
* Have you been following Bitcoin's price action? What are your observations and predictions? 🧐
In Conclusion 🎉
Bitcoin's chart suggests a potential breakout is imminent. By focusing on key levels and indicators, we can identify potential trading opportunities and make informed decisions. Let's ride the wave together! 🌊✨
Happy Trading! 💰🚀
I hope this article is engaging and informative for the Binance Square family! Let me know if you need any adjustments or further enhancements.

Here's my thoughts on the recent market turbulence: It's important to view this as a tactical retreat, not a reversal.

Crypto has been here before and bounced back even stronger. Here's why we should stay optimistic. ⤵️

A thread 🧵