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Crypto Whales Move $184,000,000 in Bitcoin, Ethereum and XRP as Market Teeters on the Edge

September 08, 2020

A number of high-net-worth crypto investors known as whales are moving hundreds of millions of dollars worth of Bitcoin (BTC), Ethereum (ETH), and XRP as the broader crypto market continues to show signs of weakness.

BTC appears to be dictating the bearish momentum as the largest cryptocurrency plunged as low as $9,916 in the last 24 hours according to CoinMarketCap. Ethereum followed suit, with the second-largest cryptocurrency falling to a low of $326 over the same stretch. Meanwhile, XRP dropped to a low of $0.23.

A surging number of crypto whales are coming out of hibernation amid the bearish price action. One whale, in particular, moved 3,001 BTC worth $30.4 million from crypto exchange OKEx to an unknown wallet.

? ? ? 3,001 #BTC (30,399,383 USD) transferred from #OKEx to unknown wallet

Tx: https://t.co/UJyrqZTMZX

Here’s a look at the rest of the Bitcoin whale transactions reported in the last day. In total, the high-rolling Bitcoin holders moved 9,975 BTC to the tune of $100.6 million.

Meanwhile, one anonymous whale transferred a massive sum of Ethereum in a single transaction.

? ? ? ? ? ? ? 216,016 #ETH (76,083,859 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/4eSvZFlIaK

Looking at XRP, one high-stakes whale just moved a huge amount of XRP. The multi-million transfer was sent to a mysterious wallet that may have received funds previously owned by Ripple, according to big data analyst Thomas Silkjær.

32,000,000 #XRP (7,661,728 USD) transferred from unknown wallet to Cobra1104 wallet

Tx: https://t.co/1u5LCJLwrO

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.