Crypto Trader Says Mysterious Whale Building Massive Buy Walls – Plus Ethereum, Ripple and XRP, Litecoin, Zcash
From a mysterious crypto whale on Binance to a new fork of Zcash, here’s a look at some of the stories breaking in the world of crypto.
Ethereum and Bitcoin
Crypto traders say an Ethereum whale is making a huge splash on the crypto exchange Binance.
According to Three Arrows Capital CEO Su Zhu, the whale has bought 300,000 ETH worth about $70 million in recent weeks. The most recent buy order clocks in at 20,000 ETH worth about $4.5 million.
— Su Zhu 🦁 (@zhusu) July 18, 2019
The big buy order triggered a debate on whether the whale is trying to create the illusion of demand to push the price of Ether, Bitcoin and the entire crypto market higher.
Usually I’d agree, but I disagree here. Whoever this entity is had a 350+ BTC buy wall the other night, and I watched the entire order get sold into piece by piece
I don’t see this as bullish or bearish
— kerneltrader (@kerneltrader) July 18, 2019
On Sunday, a separate crypto whale was accused of selling 15,000 ETH on the crypto exchange Bitstamp and triggering a cascade that pushed Bitcoin and the overall crypto market at large into a downward spiral.
Ripple and XRP
The Canada-based crypto exchange CoinField has rapidly expanded its use of XRP as a base pair on the platform. The exchange says it now has 30 coins paired directly with XRP.
Coinfield ❤’s XRP! 30 #XRP pairs in 100 countries.
WHAT IF YOU COULD PAY FOR DAILY EXPENDITURES WITH XRP? 🤔@BankXRP @XrpCenter @XRPTrump @Ripple_XRP1 @Ripple @XRPtheone @XRPstreetTEAM @WietseWind #CoinField $XRP #xrparmy #xrpthestandard #XRPcommunity pic.twitter.com/cmPzcbBrac
— CoinField (@CoinFieldEX) July 18, 2019
Litecoin creator Charlie Lee just sat down for an interview with MaiCoin. The podcast looks at Facebook’s Libra, Lee’s upcoming meeting with Justin Sun and Warren Buffett and Asia’s love for Tether (USDT).
Lee says lunch with Buffett is exposure for crypto. As for flipping the vocal crypto critic into a Bitcoin or Litecoin supporter, Lee says,
“It’s not possible to convince him. He doesn’t invest in technology stuff, so he’s not and won’t be into Bitcoin, and that’s not surprising at all.”
The privacy coin Zcash just had its first “friendly” fork, creating a new coin called Ycash. The new coin was created by Zcash team member Howard Loo, and is described as having a number of goals that differ from Zcash.
“We are launching Ycash to restore a goal – mining on commodity hardware – that appears to have been largely abandoned on the Zcash blockchain. We are also launching Ycash to uphold a promise – that the Zcash Founders Reward would be forever capped at 2.1 million coins – that we fear will come under increasing pressure between now and the expiration of the Founders Reward in October 2020.”
— zooko (@zooko) July 19, 2019