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One of the largest crypto whales in the world is moving a large Bitcoin hoard.
A number of cryptocurrency trackers stained the large transaction, which transferred a whopping 7,749 Bitcoin (BTC) worth $ 104,344,025 for a fee of around $ 9.00.
The blockchain data shows that the whale has moved the crypto to two separate addresses, sending the vast majority of the crypto to a second wallet with no past transactions.
BitInfoCharts shows that the sending address was the 245th largest Bitcoin wallet prior to Tuesday’s transaction.
None of the addresses involved are known to be linked to cryptocurrency exchanges, which suggests that the owner of the BTC may be moving funds for security reasons.
Whale watchers are also monitoring the movements of Ripple’s XRP.
The San Francisco-based payments firm, which owns more than half of XRP’s total supply, sent 1 billion XRP from two deposit portfolios to three Ripple-owned financing portfolios.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 500,000,000 #XRP (119,970,111 USD) transferred from Ripple Escrow wallet to Ripple
Tx: https://t.co/r0UZzydTsM
– Whale Alert (@whale_alert) November 1, 2020
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 400,000,000 #XRP (95,754,256 USD) transferred from Ripple Escrow wallet to Ripple
Tx: https://t.co/bPFcYKOOFo
– Whale Alert (@whale_alert) November 1, 2020
🚨 🚨 100,000,000 #XRP (23,787,664 USD) transferred from Ripple Escrow wallet to Ripple
Tx: https://t.co/m26gWHCqaw
– Whale Alert (@whale_alert) November 1, 2020
Ripple has established an escrow program that allows it to regularly access 1 billion of its XRP each month, allowing it to sell portions of its crypto assets to third parties and institutions.
The company says it continues to use its XRP holdings to power its remittance platform, On-Demand Liquidity, but has stopped selling XRP on the open market.
Disclaimer: Opinions expressed in The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trading are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock / 80’s Child
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