U.Today has prepared summaries of the top three news stories over the past day.
$106,313,218 Solana (SOL) in one transfer — What happened?
On June 3, Whale Alert blockchain tracker spotted a large SOL transaction between two unknown wallets. The funds were moved in a single transaction, carrying 661,113 SOL, valued at $106,313,218. The anonymity of the transfer has sparked speculation among the members of the crypto community, with some suggesting it may signal upcoming volatility as the market recovers from recent dips. The purpose of the transaction remains unknown as well, further fueling speculation. Market watchers are divided: some view the mystery transaction as a bearish move considering the recent slump in funding rates, while others, particularly long-term investors, remain cautiously optimistic. The mysterious Solana transfer took place as the crypto market was rebounding, and SOL followed the trend with a 4.18% surge over the 24 hours period. Currently, however, the asset is down 3.3%, changing hands at $151.04, per CoinMarketCap.
XRP rockets 721,735% in abnormal bull liquidations in hourly bloodbath
Yesterday, June 4, XRP experienced a sudden and sharp reversal, turning a quiet rally into liquidation chaos. In just one hour, a 721,735% spike in liquidations occurred, with nearly $474,000 worth of bullish bets wiped out. At the same time, according to CoinGlass data, short liquidations represented only $65. The price initially rose from $2.27 to $2.36 before quickly dropping below $2.29, triggering a cascade of margin calls; leverage amplified the impact. Other assets were hit as well; BTC experienced $11.75 million and ETH $3.55 million in long liquidations. However, XRP stood out as the first asset to experience a sharp and concentrated decline. Overall, the crypto market saw $103 million in liquidations over 12 hours, with longs accounting for over two-thirds.
Ripple’s donations top $200 million
According to Ripple Impact Report 2024, its donations have exceeded $200 million since 2018. The company’s contributions have advanced financial inclusion through pilot programs with GOS and startups. Ripple has also funded blockchain research at over 60 universities globally, awarding 183 scholarships and fellowships. Last year, the University Blockchain Research Initiative (UBRI) expanded to include new universities in Taiwan, Germany and South Korea. “We are indebted to our nonprofit and academic partners for their subject matter expertise and collaborative enterprise,” Ripple said.