Crypto traders were relatively quiet on the weekend as Bitcoin attempted to break above the $105,000 mark but failed and is now trading slightly above the $104,000 levels.
As altcoins try to outperform Bitcoin, XRP is busy making headlines in Asia. The cryptocurrency emerged as a top performer on South Korea’s largest exchange, Upbit.
XRP pulled in a massive 11.3% share of the $3.59 billion traded on Upbit in the last 24 hours. Interestingly, this is more than Bitcoin and Ethereum’s share combined. At least, according to data from the crypto analytics firm, Glassnode.
Analysts believe this could be the start of an XRP liquidity takeover.
“As crypto traders become increasingly interested in altcoins, the narrative surrounding Bitcoin’s dominance in DeFi and DEX volume is shifting,” said Glassnode.
According to Tokenpocket, one whale bought 11 million XRP from Upbit. This has left the community wondering if a major price surge is next or if big news could be coming soon.
Also, there has been increased activity related to XRP in recent months on Upbit. Some believe that the whale could be expecting a bullish trend for XRP over its legal victories or growing adoption.
Data from Santiment reveals that whales have accumulated over 880 million tokens in the past month.
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