Crypto whales are especially active this week amid substantial swings in the price of Bitcoin.
Whale watchers spotted two massive transfers worth more than a half a billion dollars on Thursday, as 350,000 Ethereum (ETH) suddenly made its way to the US crypto exchange Bittrex. At the same time, 130,005 Bitcoin (BTC) left Bittrex and moved to an unknown wallet.
As speculation on the big transfers grew, Bittrex released a statement confirming they were the big fish, saying there is no need to be concerned about a potential hack or impending sell-off.
“We are in the process of reorganizing and expanding out cold storage, resulting in moving funds between our cold wallets. There is no need to be worried.”
Bitcoin
The biggest Bitcoin transfers in the past week total more than $62 million. Two of those four transfers were from unknown wallets to crypto exchange Bitfinex, indicating a seller could be looking to offload the BTC.
XRP
XRP has been relatively quiet after Ripple sent a series of huge crypto transfers totaling more than $755 million.
In the past seven days, the most notable transaction was 28,966,450 XRP, worth $10.6 million, moving from one unknown wallet to another.
Ethereum
Ethereum had the highest number of significant transfers in the course of the last week. A total of 12 separate crypto transfers totaling more than $169 million moved around the crypto-verse.
Most of the transfers were moved off of the crypto exchange Bitfinex to unknown wallets. Bitfinex has not confirmed whether it is the whale in question or if the transfers came from its customers.