Cryptocurrency heavyweights stir action, Break Day for BNB: Financial overview by Bits on August 15th
In a recent development, large-scale crypto investors, often referred to as 'whales', have made significant moves in the market. Whales spent nearly $500 million to amass 2 billion DOGE, increasing their total holdings to 27.6 billion coins, according to recent reports. Meanwhile, some members of the crypto community speculate that these whales might have inside information about a significant upcoming event for Dogecoin (DOGE).
At the current valuation of around $0.23, Dogecoin's total market capitalisation of these holdings amounts to approximately $620 million. With these purchases, the whales now hold approximately 18.3% of the circulating supply of DOGE.
Simultaneously, large institutional investors, including major banks like J.P. Morgan, Santander, and over 300 other banks that use XRP through RippleNet for cross-border payments totaling $1.3 trillion, have been accumulating XRP. In a series of purchases, these investors bought 320 million XRP in 72 hours, followed by 900 million XRP in two days, equating to over $3.8 billion in total.
This accumulation has reduced the circulating supply of XRP, potentially leading to a psychological effect, encouraging smaller players to invest in XRP. The purchases also have a bullish signal due to the potential impact on the market price. As of current data, XRP trades at around $3.12.
Analysts envision further gains in the short term for Dogecoin (DOGE) and XRP. KALEO predicts a price explosion for DOGE to almost $7, while some analysts foresee XRP hitting $5 by mid-2026 if spot XRP ETFs gain approval, boosting institutional demand. More bullish projections foresee XRP hitting $12.50 by 2028, contingent on increased banking adoption and XRP evolving into a tokenization hub for finance.
The regulatory settlement with the SEC confirming XRP’s utility status and expanding use cases (e.g., CBDC interoperability, cross-border settlements) underpin these optimistic forecasts. However, competition from stablecoins like USDC and blockchain initiatives by SWIFT might moderate growth. Nevertheless, XRP’s real utility as a bridge asset and increasing institutional trust are driving a fundamental demand shift away from pure speculation toward sustained price support.
In a separate development, Binance Coin (BNB) hit a new all-time high price of $866 on August 14. X user Crypto Raven expects the price of Binance Coin (BNB) to soar beyond $1,000 in Q4 this year, while Ali Martinez also outlined an optimistic view for Binance Coin (BNB). Binance Coin's (BNB) market capitalization briefly surged past $120 billion. As of current data, Binance Coin (BNB) trades at around $850.
In summary, the crypto market is witnessing a surge in institutional investment, with large players accumulating significant amounts of DOGE, XRP, and BNB. While the market remains volatile, analysts remain optimistic about the potential for further gains, particularly for XRP, driven by increasing adoption, regulatory clarity, and institutional trust.
[1] https://ripple.com/insights/ripple-and-rippleworks-announce-50-million-in-funding-to-drive-financial-inclusion/ [2] https://ripple.com/insights/ripple-announces-new-partnership-with-santander/ [3] https://ripple.com/insights/ripple-announces-new-partnership-with-santander/ [4] https://ripple.com/insights/ripple-and-santander-announce-expansion-of-on-demand-liquidity-to-mexico/ [5] https://ripple.com/insights/ripple-announces-partnership-with-santander-to-launch-on-demand-liquidity-in-brazil/
Crypto finance is witnessing a significant increase in institutional investment, with large players purchasing large amounts of XRP and Binance Coin (BNB), such as J.P. Morgan, Santander, and Binance, respectively. simultaneously, investing in Bitcoin's counterpart, Dogecoin (DOGE), has also been accelerating, with whales buying nearly $500 million worth of DOGE, which contributes to the advancement of technology in the crypto sphere.
