Whale Alert, a blockchain watchdog, reported that Bitcoin and XRP whales have been on a roll, with a large number of transfers recorded in the last 24 hours.
BTC and XRP Whales Made Large Transfers
According to data from Whale Alert, whales moved over $55 million worth of BTC and $31 million worth of XRP in a single transaction.
One Bitcoin whale in particular transferred a total of 1,500 BTC ($55,911,311) from a Bitfinex-linked account to another wallet on the exchange.
Besides this transaction, the crypto market was rocked yesterday when a Bitcoin investor paid over $3 million in fees for a single transaction.
Whale Alert's analysis highlighted two different XRP transactions. The first involves the transfer of 25,200,000 XRP worth $15,665,402, and the other involves the movement of 25,000,000 XRP worth $15,553,036.
Both transactions saw funds transferred to Bitstamp and Bitso trading platforms respectively, indicating that some sale of assets is possible.
Massive whale transfers are not uncommon in the crypto ecosystem, especially those linked to Bitcoin and XRP.
The general opinion regarding these transfers is that those who initiated the transaction converted their funds into cash. The amount involved for this particular transaction is small compared to the actual liquidity that both cryptocurrencies have and is therefore not expected to significantly impact their prices.
*This is not investment advice.
