Ripple and Cardano Whales Woke up, Binance Unveiled Important Updates: Bits Recap April 3

Here’s everything most interesting related to XRP, ADA, and Binance.

Ripple’s XRP and Cardano’s ADA have been on an evident decline lately, but recent whale activity signals a possible price revival soon.

The world’s largest crypto exchange revealed that it will launch a prediction market feature. It also implemented several listings and delistings.

Good News for XRP

As of this writing, Ripple’s native token trades at around $1.31 (per CoinGecko), representing a 10% decline over the past two weeks. Its negative performance is rather unsurprising, given the bearish conditions in the broader crypto market and the rising global geopolitical tension stemming from the US/Iran war.

In the meantime, the large investors (known as whales) seem unfazed by the downtrend and have accumulated almost 200 million XRP in the span of seven days. This is considered a bullish factor as it shows that these market participants are confident in the asset’s future performance and expect an upside ahead. Their actions may encourage smaller players to follow suit, who, in turn, could inject fresh capital into the ecosystem.

The positive news related to XRP doesn’t end here. Earlier this week, Ripple unveiled the launch of Digital Asset Accounts and Unified Treasury – products that enable enterprises to manage fiat and crypto side by side.

Furthermore, the ratings agency KBRA assigned Ripple Prime a BBB issuer rating. The latter is the company’s prime brokerage arm and was previously known as Hidden Road. Ripple’s CEO described the development as “clear validation” of the entity’s “strength, reliability, and tech.”

What’s New With ADA?

Cardano whales have also been quite active lately. As CryptoPotato reported, they scooped up 220 million ADA in a single week, increasing their total holdings to almost 13.84 billion units.

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We have yet to see whether the effort will be followed by a price resurgence for the asset, which has been struggling over the past several months. Currently, ADA is worth $0.24, meaning a 28% plunge year-to-date.

Some analysts are optimistic that a revival may indeed come next. X user ALTS GEMS Alert, for instance, claimed that the bottom is in and envisioned a potential pump above $0.60 sometime in Q2.

Binance’s Updates

The world’s leading crypto exchange took center stage on March 31, announcing that it will introduce a prediction market feature by aggregating platforms from third-party providers. The upcoming product will enable users to place bets on outcomes from numerous fields, including sports, economics, world events, and, of course, crypto. Those willing to take advantage of the new service should update Binance’s app to the latest version.

Prediction markets have been quite popular lately, and some of the exchange’s main competitors, such as Coinbase and Crypto.com, have already hopped on the bandwagon.

Besides that, Binance listed APT/U, ENA/U, FET/U, NIGHT/U, TRUMP/U, WLD/U, and TRUMP/USD1 to its Cross Margin program. It also conducted a review to check which trading pairs no longer meet the necessary criteria. Based on the results, it removed ALT/BNB, ARB/TUSD, BNB/ARS, GALA/ETH, INJ/BNB, SOLV/FDUSD, and XRP/TUSD.