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Whales Move $235,000,000 in Bitcoin, Ethereum and XRP – Here’s Where the Crypto is Heading

September 01, 2020

Crypto whales are surfacing in big numbers, moving hundreds of millions of dollars in Bitcoin, Ethereum and XRP while BTC hovers around the $11,700 mark.

In the last 24 hours, the crypto whale watching bot Whale Alert has tracked several large transactions totaling more than $235.6 million worth of BTC, ETH, and XRP.

The largest Bitcoin transaction sent 3,050 BTC, worth $35,844,616, from Binance to an unknown wallet.

? ? ? 3,050 #BTC (35,844,616 USD) transferred from #Binance to unknown wallet

Tx: https://t.co/j2cSJRuo3Z

— Whale Alert (@whale_alert) August 31, 2020

Crypto traders are also tracking four additional Bitcoin whale movements.

• 3,001 BTC worth $35,327,612 sent from anonymous wallet to Binance• 1,050 BTC worth $12,331,906 sent from crypto custody giant Xapo to Binance• 2,500 BTC worth $29,435,394 sent from OKEx to an unknown wallet• 1,011 BTC, worth $11,847,654 sent from Bitfinex to an unknown wallet.

Ethereum served as the medium of exchange for the biggest transaction in the last day, with an unknown wallet sending a whopping 175,823 ETH, worth $74,974,108, to another unknown wallet on Monday.

Meanwhile, Coinbase received 89,999,980 XRP, worth $25,332,794, from an unknown wallet, and Ripple’s funding wallet received 37,500,000 XRP, worth $10,531,654, from a separate unknown wallet.

Ripple owns more than half of the total supply of XRP. In December of 2017, the startup pledged not to sell all of its tokens at once, locking up 55 billion XRP into a series of cryptographically secured escrow accounts.

The company then set up a schedule to release one billion XRP each month, sell a portion to fund its operations and invest in startups, and return the rest back into escrow.

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.

Featured Image: Shutterstock/KeepWatch