Crypto Whales Are Back At It: Millions Of XRP, Bitcoin Moved In Minutes

Crypto Whales Are Back At It: Millions Of XRP, Bitcoin Moved In Minutes

After a brief lull, crypto whales seem to have finally stirred back to action as a total of 11,407 Bitcoins were transferred. The BTC stash is worth a cool $116 million. However, it’s not just the BTC whales that are active. XRP, too, is moving in huge amounts.

Bitcoin Whales

As reported in a tweet by Whale Alert, the biggest of the recent Bitcoin movements involved a total of 7,800 Bitcoins valued at around $78.9 million. That happened on 18th September 2019 with the transaction involving multiple addresses. Still, that wasn’t the only whale activity happening over the last 24 hours. 

A few more huge movements happened involving 500 BTC ($5 million) from Coinbase to an unknown wallet, 1,500 BTC ($15.2 million) from OKEx to Coinbase, 606 BTC ($6.2 million) from an unknown wallet to OKEx, and 1,001 BTC ($10.2 million) from OKEx to an unknown wallet. 

XRP Sales?

Besides Bitcoin whales jaw-dropping amounts of coins, Ripple has also been transferring even greater amounts. About 11 million XRP valued at $3.2 million was sent from Ripple’s OTC (over-the-count) distribution wallet to a third party.

The OTC wallet holds the XRP that’s sold by Ripple. The transaction in question was tracked by Whale Alert and reported in a tweet. Just a day earlier, Ripple moved another 10 million XRP from its wallet to an unknown wallet –also possibly owned by a third party buying directly from Ripple’s OTC. 


What Does It Mean?

More often than not, a serious whale activity is interpreted as a sign of something huge about to happen within the crypto industry.

Indeed, some past whale activities have been followed by price hikes or asset dumps. Still, a whale may be just moving their holdings around as security measure. Whether this activity will have any impact on Bitcoin or XRP markets is yet to be determined.

Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.