Crypto traders are trying to decipher why 30,000,000 XRP worth $7.3 million was just transferred from an unknown wallet to a wallet identified as FundingWallet1.
30,000,000 #XRP (7,371,809 USD) transferred from unknown wallet to Funding Wallet 1
— Whale Alert (@whale_alert) October 3, 2019
According to a series of posts on the XRP-centered forum XRPChat, FundingWallet1 is owned by Ripple co-founder Chris Larsen.
Data from the XRP explorer Bithomp shows the wallet was activated by Larsen and currently has a balance of 32,926,000 XRP.
Larsen remains on Ripple’s board of directors and recently made the latest Forbes list of the 400 wealthiest Americans, with a net worth of $2.1 billion.
Meanwhile, Bitcoin whales continue to surface as the leading cryptocurrency continues to move sideways, trading around $8,200 at time of writing.
In the last 24 hours, some of the biggest Bitcoin holders in existence have moved 8,722 BTC, worth around $70.4 million.
The biggest single transfer moved 2,000 BTC worth $16.2 million between two crypto exchanges, from BitMEX to Bitstamp.
— Whale Alert (@whale_alert) October 4, 2019
Out of the top seven largest transactions, two of them involved crypto moving from an unknown wallet to an exchange, indicating traders may be looking to sell as much as 1,946 BTC worth $15.8 million.
- 1,152 BTC worth $9.3 million transferred from OKEx to unknown wallet
- 1,207 BTC worth $9.8 million transferred from unknown wallet to OKEx
- 774 BTC worth $6.2 million transferred from Xapo to unknown wallet
- 739 BTC worth $6.0 million transferred from unknown wallet to Binance
- 1,000 BTC worth $8.1 million transferred from unknown wallet to Xapo
- 2,000 BTC worth $16.2 million transferred from BitMEX to Bitstamp
- 1,850 BTC worth $14.8 million transferred from Coinbase to unknown wallet