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30,000,000 XRP Moves in Mysterious Crypto Transfer As Bitcoin Whales Shuffle 8,722 BTC

October 05, 2019

Crypto traders are trying to decipher why 30,000,000 XRP worth $7.3 million was just transferred from an unknown wallet to a wallet identified as FundingWallet1.

30,000,000 #XRP (7,371,809 USD) transferred from unknown wallet to Funding Wallet 1

Tx: https://t.co/XJaZCwqAjZ

— Whale Alert (@whale_alert) October 3, 2019

According to a series of posts on the XRP-centered forum XRPChat, FundingWallet1 is owned by Ripple co-founder Chris Larsen.

Data from the XRP explorer Bithomp shows the wallet was activated by Larsen and currently has a balance of 32,926,000 XRP.

Larsen remains on Ripple’s board of directors and recently made the latest Forbes list of the 400 wealthiest Americans, with a net worth of $2.1 billion.

Meanwhile, Bitcoin whales continue to surface as the leading cryptocurrency continues to move sideways, trading around $8,200 at time of writing.

In the last 24 hours, some of the biggest Bitcoin holders in existence have moved 8,722 BTC, worth around $70.4 million.

The biggest single transfer moved 2,000 BTC worth $16.2 million between two crypto exchanges, from BitMEX to Bitstamp.

? 2,000 #BTC (16,238,560 USD) transferred from #Bitmex to #Bitstamp

Tx: https://t.co/c6BUyzrp41

— Whale Alert (@whale_alert) October 4, 2019

Out of the top seven largest transactions, two of them involved crypto moving from an unknown wallet to an exchange, indicating traders may be looking to sell as much as 1,946 BTC worth $15.8 million.

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