Consistent reports of crypto whale trackers indicate that there has been a movement of funds from one wallet to another. The reason for the increase in the movement of funds remains unknown.
Ripple Is Moving Funds between Its Own Wallets
Ripple is beginning to move millions of dollars to close out the week. According to the report shared by XRPL Monitor, the cross-border payment company is moving funds between its own wallets.
Data from Bithomp, the Whale tracker, shows that a transfer of 55 million XRP worth $10 million hit the XRP Ledger on 24th April 2020, and the cost of the transaction was less than a penny.
“Transaction Type: Payment Amount: 55,000,000 XRP Fee: 100 drops (0.0001 XRP). Sender: Ripple. Sender Balance: 14,107,615.129711. Receiver: Ripple. Receiver Balance: 57,711,322.303798,” XRP Monitor Reported.
Transaction Type: Payment
Amount: 55,000,000 XRP
Fee: 100 drops (0.0001 XRP)
Sender: Ripple
Sender Balance: 14,107,615.129711
Receiver: Ripple
Receiver Balance: 57,711,322.303798
Link: https://t.co/yKRd3VSSHl— XRPL Monitor (@XRPL_Monitor) April 23, 2020
Obviously, Ripple owns relatively 60% of the 100 billion XRP in circulation. And the payment startup sells part of its XRP holding to the third parties, from its escrow wallets on a monthly basis. According to record, Ripple sold a sum of $13 million in XRP directly to institutions in the last quarter.
Ethereum (ETH) Whale Transfers 273,712 ETH worth $51 Million
Also, Ethereum (ETH) whales are also in action over the past hours. According to Whale Alert, the live tracker of large crypto transactions from and to exchanges, an ETH whale transferred 273,712 ETH worth $51 million, from an unknown wallet to another.
Going by the report, the huge transaction was effected on 24th April 2020, at 19:09:26 UTC, from an unknown wallet 0x662c1d33923f1b48b5cdc1f4570423ec1ced1228 to another wallet 0x97e935ddf3f5a2c4291e38f106194bb507dd28f9.
🚨 🚨 🚨 🚨 🚨 273,712 #ETH (51,647,144 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 24, 2020
The Situation of Ripple’s XRP and Ethereum (ETH) in the Market
Both Ethereum (ETH) and Ripple’s XRP are seemed subjected to the same market situation at the moment. The two largest altcoins in the market have not recorded huge price losses or gains over the past hours.
At press time, XRP is trading at $0.193739, with a 0.85% price plummet in the 24 hours, while ETH trades at $188.73, with a 0.05% price decrease based on 24 hours estimation.
