Whale Sends 89,999,980 XRPs to Coinbase as Major Bitcoin and Ethereum Holders Move $ 500 Million in Crypto


A huge treasure trove of the fourth largest cryptocurrency is suddenly on the move, with an anonymous whale transferring XRP for tens of millions of dollars.

A high-yield anonymous entity just moved 89,999,980 XRP worth $ 22.5 million for a fee of just $ 5.04.

The transfer was initially stained from the whale watching bot Whale Alert.

Source: Bithomp

According to Whale Alert, the owner moved the funds from one Coinbase wallet to another wallet owned by the same cryptocurrency exchange.

Whale Alert is designed to filter cold room transactions from crypto exchanges, which indicates that the whale is likely an investor who transfers funds to the exchange for storage purposes or to trade the asset on the open market.

Bitcoin (BTC) whales have also been around in the past 24 hours after moving 29,974 BTC worth $ 472.8 million. Many of the cryptocurrencies have been sent by Coinbase to unknown wallets, suggesting that the owners intend to keep their Bitcoin.

Here is a summary of all the major BTC transactions over the last day:

Ethereum (ETH) whales are also making their presence felt.

In the past 24 hours, five whales have transferred 153,761 ETH worth $ 69.2 million. Three of the transfers transferred encryption from unknown wallets to the decentralized exchange Uniswap.

One transfer moved ETH from a crypto exchange to an unknown wallet, while the fifth transfer moved the crypto from an unknown wallet to a South Korean exchange.

Bitcoin’s consolidation is pushing the broader cryptocurrency market down. At the time of writing, BTC is down 1.21% to $ 15,315. Ethereum is down 2% to $ 444 and XRP is down 0.94% to $ 0.25.

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Featured Image: Shutterstock / Tithi Luadthong

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