On August 5, the cryptocurrency market experienced a dramatic crash, resulting in a significant spike in activity on major exchanges. Binance, in particular, saw a substantial influx of capital, recording $1.2 billion in net inflows as traders responded to the sharp decline in cryptocurrency prices.
Read MoreRecent days have seen Ripple's XRP weather a substantial downturn, reflecting broader market volatility. The cryptocurrency's price plummeted by 24% over the past week and 17% within a 24-hour period, currently resting at approximately $0.44 according to Coingecko, marking its lowest level in nearly a month.
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