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Bitcoin Whales Move Millions in Crypto As Ripple Fires Off 52,750,000 XRP in Over-the-Counter Transfer

February 08, 2019

One of Ripple’s over-the-counter crypto accounts has burst to life, sending 52,750,000 XRP worth $15.3 million to an unknown wallet.

? 52,750,000 #XRP (15,380,245 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet

Tx: https://t.co/UkmUKfT0ia

— Whale Alert (@whale_alert) February 6, 2019

As movement from an OTC distribution wallet, it appears to be Ripple selling a portion of its XRP. Ripple owns about 55 billion XRP, which amounts to 60% of the total supply, and sells portions of its holdings to crypto exchanges and institutions on a regular basis.

Meanwhile, Bitcoin whales with about $100 million in BTC have been on the move since Thursday. The biggest transfer of 10,888 BTC, worth $37 million, was sent from Binance to an unknown wallet.

? ? ? 10,888 #BTC (37,161,334 USD) transferred from #Binance to Unknown wallet

Tx: https://t.co/KDpeA62lVO

— Whale Alert (@whale_alert) February 6, 2019

Here’s a look at the rest of the big Bitcoin transfers in the last 36 hours. Two of the 10 transfers appear to be traders moving their BTC onto an exchange, which indicates they may be gearing up to sell.

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.