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.
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.
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.