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Bitcoin and Ethereum Whales Move Whopping $358,000,000 in Crypto As Ripple Transfers 55,000,000 XRP

April 24, 2020

Ripple is moving millions of dollars worth of XRP to close out the week.

Whale watchers are tracking a transfer of 55 million XRP worth $10 million that hit the ledger on Thursday. The total fees for the transaction cost less than a penny.

https://twitter.com/XRPL_Monitor/status/1253361261041115139

According to the data tracker Bithomp, Ripple is moving funds between its own wallets.

The San Francisco-based payments startup owns more than half of the 100 billion XRP in existence. Each month, the company shuffles XRP from its escrow wallets to its over-the-counter wallets, which are used to sell XRP to third parties. Last quarter, Ripple sold a total of $13 million in XRP directly to institutions.

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Meanwhile, Bitcoin and Ethereum whales are out in force, moving a total of $358 million in cryptocurrency.

In the last 24 hours, an unknown crypto whale moved a total of $182 million in Ethereum (ETH) across five separate transactions, all happening between wallets of unknown origin. The largest single transaction moved 273,712 ETH worth $51 million.

? ? ? ? ? 273,712 #ETH (51,647,144 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/uvb16OC0Va

— Whale Alert (@whale_alert) April 24, 2020

Bitcoin whales have also been busy in the last day, moving a collective 23,544 BTC worth $176 million.

Eight of the transactions involved crypto moving from unknown wallets to exchanges. This could either be exchanges shuffling funds or traders gearing up to sell some of their holdings.

The rest of the transactions moved crypto between exchanges, or from exchanges to unknown wallets.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.