XRP Faces Brutal Whale Shake-Up: 40,000,000 Exit Millionaire Wallets

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.Ethereum (ETH)

After consolidating for most of September, Ethereum is giving the first signs it wants to go higher. The current weekly candle is a bullish engulfing one, and the price is up by 3%. If buyers maintain their momentum, the remaining weeks in September could see sustained gains.

The most important resistance on the chart is found at $4,868, which is only a 6% distance from the current price, found around $4,500, at the time of this post. A test of that level appears likely in the near future.

Looking ahead, this cryptocurrency could be preparing for a major breakout above $5,000 towards the end of September, which would open the way to make new record highs later this year.Ripple (XRP)

XRP is up by 8% this week after a solid performance from bulls that managed to push the price above the descending triangle that has formed since July. This is a clear bullish signal to market participants.

The support at $3 seems to hold well at this time, and as long as sellers don’t return here to contest it, buyers have a good shot to continue the uptrend towards $3.2, which is the next major resistance.

Looking ahead, XRP is building good momentum, which could allow it to re-test the highs from summer at around $3.6. For that to happen, the $3.2 level has to turn into support first.Cardano (ADA)

Cardano is close to challenging the resistance at $0.90 and has closed this week with a 9% gain, which shows buyers are back. If they are successful here, the next major target will be at $1.1.

While ADA has been making higher lows in the past few months, the price also needs a higher high to confirm the uptrend and be confident in higher levels. That requires ADA to reach $1 and stay above it. This proved difficult in the past few months.

Looking ahead, buyers have an advantage right now to make sustained gains in the future. The only unknown is if sellers will return around $1 where they’ve stopped the price in the past.Binance Coin (BNB)

BNB made a new record as it moved to $910 this week and booked a 7% gain. This recent all-time high increases the confidence that this cryptocurrency can soon reach a four-digit price.

If buyers can confirm the $900 level as support and defend it, then the race is on towards $1,000. This will likely push this cryptocurrency into a sustained uptrend and price discovery. The momentum indicators, such as the MACD and RSI, also give a strong bullish bias.

Looking ahead, even if sellers return here, Binance Coin has strong support at $830, which can stop any pullback. That level acts as a pivot for buyers keen to attempt a breakout towards $1,000 in the future.Hype (HYPE)

HYPE followed BNB, setting a new record price of $57 this week and closing with an impressive 23% price increase. This was an aggressive breakout that saw the asset quickly move higher in a few days.

At the time of this post, sellers pushed HYPE into a pullback from the $57 l,evel which may test the support at $55 before buyers attempt new highs. The most important resistance on the chart is found at $58 and $60, should the uptrend resume soon.

Looking ahead, this cryptocurrency has been one of the strongest performers in 2025. This is expected to continue, and if bulls remain aggressive, a price around $100 appears likely towards the end of 2025.

FTX and Alameda continue their routine Solana transfers, moving millions of dollars each month while managing staking balances. Even after the exchange’s collapse, these transfers and ongoing creditor repayments remain closely watched by the crypto community.

What’s making headlines now? Read on. 

192,000 SOL Unstaked

According to blockchain analytics provider EmberCN, 192,000 SOL worth $43.56 million was unstaked recently. These transfers usually take place around the 10th, and this month was no different.

This amount will likely be split and sent across several wallets before eventually making its way to major exchanges like Coinbase and Binance. 

FTX and Alameda Have Moved 8.98M SOL

This has become a consistent pattern since November 2023. Notably, FTX/Alameda have redeemed and moved a staggering 8.98 million SOL, roughly worth $1.2 billion since then. Despite these large outflows, their staking addresses still hold a significant balance. Currently, about 4.184 million SOL, valued near $960 million, remains locked in staking.

This steady movement of funds shows how closely Solana remains tied to the ongoing FTX bankruptcy process and creditor settlements.

Is This “Solana Season”?

Solana is currently trading at $237.55, up over 6% in the last 24 hours. Experts say that the crypto market is entering a “Solana season,” boosted by regulatory support, institutional adoption, and rising support for Solana treasury strategy.

This positive momentum continues to strengthen investor confidence even as FTX-linked transfers remain in focus.

FTX is set to roll out its next creditor payment on September 30. So far, it has returned roughly $6.2 billion to customers.

3AC Subpoenas FTX Executives

Recently, Bankman-Fried and other former FTX executives were subpoenaed by Three Arrows Capital (3AC), which claims FTX illegally liquidated $1.5B of its positions. SBF is set to testify from prison on October 14, 2025.

FTX has denied the claims saying that the hedge fund’s balance was $284M, not $1.6B, and that most losses happened during the market crash. FTX says it only liquidated $82M, all within contract terms.

FTX’s ongoing legal challenges show that the defunct exchange’s troubles are far from over. While Solana continues to gain momentum, it remains closely linked to the FTX saga. 

Ethereum is making waves again, reclaiming the $4,500 mark as institutional investors quietly pile in. The second-largest cryptocurrency is showing signs of life that could push it toward $5,000, and traders are starting to wonder: Is a new rally just around the corner? 

With steady accumulation and growing confidence, all eyes are on Ethereum’s next move.

Funds Load Up on ETH

According to the latest data, Ethereum fund holdings have climbed to a record 6.7 million ETH, while total wallet balances reached 20.6 million ETH. Together, these numbers tell one clear story, institutions and long-term holders are steadily stacking ETH.

This is important because it proves demand isn’t just coming from quick traders chasing short-term gains. As CryptoBusy highlights, large funds have been consistently adding ETH throughout 2025.

At the same time, wallets of all sizes are also growing their holdings. This mix of big players and retail buyers creates a stronger foundation for Ethereum’s price and future growth.

Long-Term Holders Keep Stacking

Further, CryptoBusy highlights that Ethereum balances by holder value have surged to 20.6 million ETH, marking yet another record milestone. What stands out here is that wallets across different size ranges, from smaller investors to those holding over 100,000 ETH, are increasing their positions. 

This suggests the demand isn’t concentrated in a few hands but spread across the broader market.

Ethereum Price Outlook: Support Holding Strong

As of now Ethereum price is trading near $4,522, and holding strong above its key support at $4,164. Meanwhile, the bigger challenge now sits between $4,600 and $4,800, a zone that Ethereum must clear before aiming for $5,000.

Technical signals also look supportive. The RSI stands at 58, showing the asset is neither overbought nor oversold. That means there’s room for further growth without the need for a sharp correction first.

However, the bullish scenario stays alive as long as ETH holds above $4,000. Falling below that threshold could open the door to $3,865, and in a deeper slide, even toward $3,213.

Gemini raised $425 million through its initial public offering by selling 15.18 million Class A shares for $28 each, according to a press release.

The crypto exchange previously announced an anticipated market price of $24 to $26, which was an increase from its earlier estimate of $17 to $19.

Winklevoss twins-led company goes live on the Nasdaq Global Select Market on Friday under the ticker symbol GEMI, with the offering scheduled to close on Monday. Goldman Sachs, Citigroup, Morgan Stanley and Cantor are its lead bookrunners.

Additionally, as part of the offering, the company and its selling stockholders have granted underwriters a 30-day option to purchase over 750,000 additional shares to cover over-allotments. Gemini noted that it will not receive any proceeds from the sale of shares by the selling stockholders.

According to a report from Bloomberg, the Winklevoss twins are expected to control about 94.5% of the voting power after the IPO.

Furthermore, the Bloomberg report said that Nasdaq Inc. agreed to purchase $50 million in shares at the IPO price in a private placement. Separately, Gemini has reserved as much as 10% of the offering for insiders and long-standing users, with up to 30% allocated to retail investors on platforms like Robinhood, SoFi, and Webull.

This IPO makes Gemini the third U.S.-listed crypto exchange, following Coinbase and Bullish. Gemini also joins a growing list of crypto companies that have gone public, a recent example being Figure Technology and a blockbuster IPO from stablecoin issuer Circle earlier this year.

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© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Charles Hoskinson, founder of Cardano , has reacted to the new lawsuit between Coinbase and the U.S. Securities and Exchange Commission (SEC). In a post on X, Hoskinson expressed sarcasm at the requirement by the regulatory body for crypto entities to register.

Charles Hoskinson calls out SEC’s "Register" narrative

For context, former SEC Chair Gary Gensler, while in office, constantly told crypto companies to "Just come in and register." Gensler insisted that exchanges and crypto projects need to register and comply with securities law.

Hoskinson, referencing a post from Paul Grewal, Coinbase’s Chief Legal Officer, has called out the SEC for not following its own rules. Notably, Grewal alleged that the SEC under Gensler destroyed some internal memos that would have been useful in their legal proceedings.

According to Grewal, Coinbase is seeking expedited discovery and sanctions, as well as the production of any remaining communications that could aid their case.

As per Hoskinson, it is hypocrisy for the SEC to fine crypto firms billions of dollars for not keeping records, yet they violate the same rules. In his words, "I'm sure Gary can come in and register."

The Cardano founder is sarcastically suggesting that since the regulatory body is violating record-keeping laws, then maybe Gensler should also come to register for accountability.

Coinbase’s multiple legal battles

Coinbase is caught in a series of legal battles and appears determined to put up a fight to defend itself. 

At the end of July, Paul Grewal had submitted a legal brief challenging the U.S. Federal Deposit Insurance Corporation (FDIC). This was to counter the FDIC’s move to dismiss Coinbase’s lawsuit, which accused the agency of trying to push crypto firms out of the financial space.

Meanwhile, in Oregon, Coinbase is also arguing that the state has no legal authority to enforce crypto regulations independent of U.S. federal laws.

Coinbase insists all its legal battles are to provide regulatory clarity to the crypto sector.

Pseudonymous account @Negentropic_ on the X social media network (formerly known as Twitter), behind which stand the cofounders of the prominent on-chain data company Glassnode, has made an important prediction about new price all-time highs of three top cryptos: BTC, ETH and SOL.

New ATHs coming within month, per Glassnode founders

@Negentropic_ published an ultra-bullish statement, tagging three top-10 cryptocurrencies in its tweet — Bitcoin, Ethereum and Solana — predicting that these assets are likely to hit new historic price peaks in the short term.

They expect these price milestones to be reached within the coming three to four weeks.

The Glassnode cofounders warn the community that now this is the last chance “for September doomers to reposition.” Making their ultra-bullish forecast, they stated: “Don’t stand in-front of the freight train. $btc $eth $sol ATH in the next 3-4 weeks.”

Earlier today, the bellwether cryptocurrency, Bitcoin, surged to reclaim the $116,000 level, while Ethereum is trading at $4,518, and SOL is changing hands at $237. Earlier this year, all three coins reached new all-time highs of $124,457; $4,953 and $294.

The CEO and founder of Quantileinvesting, known as @TheRealPlanC on X, and crypto analyst Miles Deutsche, have shared similar expectations about a new Bitcoin all-time high.