Thursday, May 6, 2021

Ripple Transfers 83 Million XRP as Bitcoin and Ethereum Whales Move Millions

The cryptocurrency whales have resumed their usual activity as huge transfers of Ripple’s XRP, Bitcoin (BTC), and Ethereum (ETH) were noticed as the trend in the cryptocurrency market starts to favor the top digital currencies.

Ripple Moves 83 Million XRP Worth $19.2 million

According to reports from Whale Alert and XRPL Monitor, the US-based payments firm, Ripple, has moved over 83 million XRP worth $19.2 million in the last 24 hours.

Whale Alert reported a transaction of 33 million XRP worth $7.45 million effected by Ripple into its distribution wallet, which is used to move funds that are sold to third parties.

“33,129,911 XRP (7,452,308 USD) transferred from Ripple to Ripple OTC Distribution wallet,” Whale Alert reported.

The other two transactions initiated by Ripple were monitored and reported by XRPL Monitor. According to the report, the two other transfers are totaled 50 million XRP worth $11.5 million and they were sent into unknown wallets.

Bitcoin and Ethereum Whales Move Millions in Crypto

On the other hand, Bitcoin whales have also been moving millions of dollars in BTC from one wallet to another, in the wake of the significant price surge experienced by Bitcoin. The leading cryptocurrency made a notable run to break above $11,000 resistance level, after overcoming the psychological resistance of $10,000.

As reported by Whale Alert, in 13 different transactions in the last 24 hours, Bitcoin whales have moved 27,280 BTC worth over $299 million.

The majority of the transactions are from exchanges to unknown wallets, which indicates an increase in buying interest as the price of BTC appreciates in the market. The report also stated that two of the transfers involved cryptocurrency hackers that sent BTC stolen from Bitfinex back in 2016 to unknown wallets.

Crypto observers also noticed the increase in the movement of Ethereum (ETH) since the cryptocurrency surpassed $300 to trade around $330.

According to whale alert, in the last 24 hours, Ethereum whales have moved a total of 145,990 ETH worth over $46 million in two different transactions.

As the report indicated, one of the transfers sent ETH from an unknown wallet to another, the other moved the digital currency from an unknown wallet to Binance exchange.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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