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Crypto Whales Move $780 Million in Bitcoin As Ripple Transfers 110,175,722 XRP

August 23, 2019

Crypto whales are on the move as the weekend approaches.

Whale watchers spotted three big Bitcoin transfers on Friday, including a massive movement of 36,469 BTC worth $369.8 million. The Bitcoin was transferred between two unknown wallets and was likely moved in an effort to keep the BTC secure or as part of an over-the-counter (OTC) sale.

? ? ? ? ? ? ? ? ? ? 36,469 #BTC (369,882,280 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/B6rWnGHA2N

— Whale Alert (@whale_alert) August 23, 2019

Here’s a look at the largest BTC transfers in the last 24 hours.

In total, 77,014 BTC worth $780.3 million moved across the cryptosphere, all between wallets of unknown origin.

Meanwhile, Ripple is moving some of its XRP holdings to close out the week. The company owns more than half of all XRP in existence, with the majority of its holdings in escrow.

In the last 24 hours, Ripple has moved a total of 110,175,722 XRP worth about $29.6 million. Three of those transfers were sent to unknown wallets and, similar to the Bitcoin transfers above, they could represent Ripple shifting assets around for security or selling some of its XRP to crypto exchanges or institutions.

Each month, Ripple unlocks 1 billion XRP, sells a fraction of it and then returns the rest into escrow. The company has said it will sell fewer XRP than usual this quarter, after selling a total of $251.51 million in the second quarter of this year.

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